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Investment & Market Trends

Jelawang Capital And Dana Perintis Invest RM588 Million In Malaysian Startups in 2025

Khazanah Nasional Bhd’s (Khazanah) Jelawang Capital and Retirement Fund Inc’s (KWAP) Dana Perintis invested a combined RM588 million into Malaysian startups in 2025, supporting businesses across sectors including consumer, digital, agritech and education technology (edtech). The Ministry of Finance (MoF) said the initiative, carried out under the Government-Linked Enterprises Activation and Reform Programme (GEAR-uP), has supported more than 130 Malaysian startups, including nearly 30 Bumiputera startups, between 2020 and June 2026. The ministry said both platforms work with fund managers through targeted investment strategies, helping expand Malaysia’s venture capital ecosystem while attracting additional private sector funding. In July 2024, Khazanah consolidated two government venture capital entities — Malaysia Venture Capital Management Bhd (MAVCAP) and Penjana Kapital Sdn Bhd) — before launching Jelawang Capital in October 2024 as Malaysia’s national fund-of-funds. The initiative received an initial allocation of RM1 billion for 2024 to 2028 under Dana Impak. Meanwhile, KWAP’s Dana Perintis operates as a RM500 million early-stage investment fund for the same period, supporting promising Malaysian startups with growth capital and funding continuity. MoF said Jelawang Capital channels investments to emerging and regional fund managers, who then raise additional private capital and invest in local startups. In 2025, the platform helped mobilise RM290 million into emerging domestic and regional fund managers. Together, Jelawang Capital and Dana Perintis aim to strengthen Malaysia’s startup ecosystem by improving access to funding, supporting business expansion and encouraging greater private investment participation. The ministry also highlighted other investment initiatives under GEAR-uP, including Khazanah’s Dana Impak, which has committed RM1 billion between 2024 and 2028 to support the growth of Malaysian mid-tier companies (MTCs). Through partnerships with private equity firms such as Creador, Navis Capital and Granite Asia, Dana Impak aims to provide growth capital and strategic support for local businesses. KWAP’s Dana Pemacu also contributes growth-stage private equity investments through its co-investment approach. For Bumiputera mid-tier companies, Ekuinas continues to provide private equity and private credit support, having generated RM7.1 billion in Bumiputera equity value since 2009. This is further complemented by Khazanah’s upcoming Dana Ciptawan, a planned RM200 million initiative aimed at supporting Bumiputera enterprises and other Malaysian mid-tier companies.

Investment & Market Trends

KWAP’s Dana Pemacu invests RM51 million to support local nutraceutical industry

Retirement Fund Inc (KWAP) has invested RM51 million through its Dana Pemacu initiative to support the growth of a Malaysian nutraceutical products supplier and brand owner, as part of efforts to strengthen the country’s private markets ecosystem and healthcare sector. According to the Ministry of Finance’s (MoF) GEAR-uP Progress Report released today, the investment was made in Bio-Science Nutraceutical Holdings Sdn Bhd through local general partner Mekar Capital and global general partner Navis Capital. The ministry said the investment demonstrates how institutional capital can help develop high-value healthcare and wellness businesses by enhancing Malaysia’s capabilities in nutraceutical innovation, product commercialisation and premium brand development. The report also highlighted another Dana Pemacu initiative involving the development of centralised labour quarters through Foster Capital as the local general partner and Castleforge as the global general partner. Under the first phase of the project, KWAP has committed RM210 million to develop accommodation for 9,000 workers. The initiative forms part of a larger development comprising four projects that will provide 28,800 beds with a combined gross development value of approximately RM600 million. The Ministry of Finance said the project aims to improve living conditions for workers while supporting Malaysia’s long-term economic growth. Launched in May 2024, Dana Pemacu is designed to accelerate Malaysia’s economic transformation by deploying commercially viable investments that create long-term value while enhancing the impact of government-linked investment companies (GLICs). The report also outlined the progress of Khazanah Nasional’s Dana Impak initiative. As of June 2026, the programme had supported 32 mid-tier companies through the Mid-Tier Companies Growth Innovation Programme and another 21 companies under the ELEVATE 2.0 Programme. MoF added that GLICs continue to play a key role as cornerstone investors in quality listings on Bursa Malaysia, helping to strengthen the country’s capital markets by providing funding that can be reinvested into future high-growth businesses. The ministry said achieving the Capital Market Master Plan 2026–2030 target of RM5.8 trillion to RM6.3 trillion in market capitalisation by 2030 will depend on a steady pipeline of new listings supported by institutional investors. Meanwhile, GLICs actively managed a portfolio of 37 government-linked companies (GLCs) with a targeted annual return of 7.5% between 2024 and 2028. In 2025, the portfolio exceeded expectations by delivering an 8.0% shareholder return, with the potential to generate up to RM100 billion in value. MoF noted that as GLCs account for around 27% of Bursa Malaysia’s Main Market capitalisation, the returns generated ultimately benefit Malaysians through institutions such as the Employees Provident Fund (EPF), KWAP, Permodalan Nasional Bhd (PNB) and Lembaga Tabung Haji. The ministry added that GLICs continue to create long-term value by driving shareholder returns, strengthening corporate governance and supporting Malaysia’s strategic national development priorities.

Investment & Market Trends

Cambodia To Develop First Large-Scale Dairy Farm Under US$68 Million Project

Cambodia is set to develop its first large-scale fresh milk production and processing facility through a US$68 million investment in Pursat province, a move aimed at strengthening the country’s dairy industry, reducing milk imports and meeting growing domestic demand. The project, known as Farm Fresh Pursat, will be developed in Veal Veng district across approximately 1,000 hectares. It will feature international-standard dairy farms and a local milk processing plant, creating a fully integrated dairy production ecosystem capable of supplying both the domestic market and future export opportunities. Celebrating a landmark partnership for sustainable dairy development: Rida (left) and Loi (right) shaking hands following the land lease signing ceremony for the Farm Fresh Pursat project. The investment follows a land lease agreement signed on Aug 5 between the Pursat Provincial Administration, Sonavith Co Ltd, Malaysia’s Farm Fresh Group and Cambodia’s Alpha Group. The project builds on a memorandum of understanding signed by Farm Fresh and Alpha Group during the 47th ASEAN Summit in October 2025 to establish Cambodia’s first large-scale fresh milk production and processing facility. Pursat Governor Khoy Rida described the project as a historic milestone that will establish the country’s largest dairy farm while creating significant employment opportunities for local communities and supporting the province’s economic development. Farm Fresh Group Managing Director and Chief Executive Officer Loi Tuan Ee said the company is honoured to invest in Pursat and welcomed the strong support and incentives provided by the Cambodian government. He added that the investment would not only strengthen Cambodia’s dairy industry but also raise Pursat’s profile across Southeast Asia and internationally. The project comes as Cambodia seeks to improve its food security following supply disruptions caused by last year’s border conflict with Thailand. Thailand previously supplied more than 76% of Cambodia’s dairy imports, and the disruption led to widespread fresh milk shortages, affecting supermarkets, cafés and restaurants. With the new facility, Cambodia aims to expand local fresh milk production, reduce dependence on imports and build a more resilient and sustainable dairy supply chain for the future.

ESG

Ditrolic Energy Receives Singapore Approval For 600MW Green Power Export

Ditrolic Energy Holdings Sdn Bhd has received conditional approval from Singapore’s Energy Market Authority (EMA) to export and supply up to 600 megawatts alternating current (MWac) of renewable electricity from Johor to Singapore, marking a major milestone in its cross-border clean energy ambitions. The approval was granted to its subsidiary, Southern Solar Alliance Pte Ltd, enabling the company to move forward with the technical, commercial and regulatory development required before securing final approval for the project. The proposed export project forms the first phase of the Southern Johor Renewable Energy Corridor (SJREC), a long-term renewable energy initiative jointly developed by Permodalan Darul Ta’zim (PDT), Ditrolic Energy and the International Finance Corporation (IFC). Planned over a 15-year period along Johor’s east coast, SJREC is designed to support Malaysia’s domestic energy needs while supplying renewable electricity to Singapore, including developments within the Johor-Singapore Special Economic Zone (JS-SEZ). From left: Ditrolic Energy executive director Michelle Ong; Ditrolic Energy board adviser Sam Ong; Ditrolic Energy group chief executive officer Tham Chee Aun; Singapore’s Energy Market Authority chief executive Phua Kok Keong; Singapore Ministry of Trade and Industry permanent secretary Augustin Lee; and Singapore Ministry of Trade and Industry deputy secretary Keith Tan during the presentation of the Letter of Conditional Approval. The initial phase will be powered by approximately four gigawatts-peak (GWp) of solar generation capacity, supported by 5.1 gigawatt-hours (GWh) of utility-scale battery energy storage systems (BESS). The integrated infrastructure is expected to provide a more stable and reliable supply of green electricity. Ditrolic Energy Group Chief Executive Officer Tham Chee Aun said the conditional approval demonstrates confidence in the project’s technical capability, scale and reliability. He added that the project highlights the strong collaboration between the Johor state government, the Malaysian Federal Government, Singapore and private sector partners in turning clean energy policies into commercially viable cross-border projects. The company said the project has already attracted significant market interest, with nearly 90% of its planned electricity output receiving offtake interest from Singapore-based customers across sectors including transport, aviation, ports, manufacturing, pharmaceuticals, logistics, real estate and industrial parks. PDT Chief Executive Officer Datuk Ramlee Rahman said SJREC is expected to position Johor as a regional renewable energy hub capable of serving both local demand and export markets. He noted that the project’s progress under EMA’s conditional approval also supports the long-term development of the Johor-Singapore Special Economic Zone. In addition to exports, SJREC will also supply renewable electricity to the domestic market through Malaysia’s Corporate Renewable Energy Supply Scheme (CRESS) and Self-Consumption (SELCO) programme. The first batch of power purchase agreements with local customers is expected to be signed within the next three months. The first delivery of green electricity for the Malaysian market is targeted for 2028, while commercial exports to Singapore are expected to commence in 2029, subject to the completion of the new cross-border interconnector and the necessary regulatory approvals in both countries.

Energy & Technology

NuEnergy Secures RM44.5 Million Johor Data Centre Contract

NuEnergy Holdings Bhd (NHB) has secured a RM44.5 million contract to undertake mechanical, electrical and plumbing (MEP) works for a data centre project in Johor Bahru, marking the company’s largest high-voltage project to date. In a filing with Bursa Malaysia, NuEnergy said it has accepted a Letter of Award from a China-based construction and engineering company for the MEP works involving a two-storey 265kV/11kV Consumer Landing Station Building for the data centre development. The project is scheduled for completion by the fourth quarter of 2026. NuEnergy said the contract represents a major milestone in its strategic expansion into the extra high voltage (EHV) and transmission line segment, particularly as demand for supporting infrastructure continues to grow alongside the rapid development of data centres in Malaysia. The company added that the project will further strengthen its presence in the high-voltage infrastructure sector while enhancing its capabilities in supporting critical power requirements for large-scale technology facilities. NuEnergy expects the contract to contribute positively to its order book, revenue and profitability for the financial year ending December 31, 2026. The latest project reflects the company’s efforts to capitalise on opportunities arising from Malaysia’s growing data centre ecosystem, where reliable and high-capacity power infrastructure has become increasingly essential to support digital transformation and cloud-based services.

Energy & Technology

GLICs Invest RM1.4 Billion To Strengthen Malaysia’s Semiconductor Value Chain

Government-linked investment companies (GLICs) have invested RM1.4 billion in 2025 across four strategic areas aimed at strengthening Malaysia’s semiconductor ecosystem and advancing the country’s position within the global technology supply chain. According to the Ministry of Finance’s (MoF) GEAR-uP Progress Report, the investments were focused on scaling Malaysian semiconductor companies, attracting high-value technology transfers, expanding the deep-tech ecosystem and establishing strategic partnerships with global players. The MoF said the growing demand for semiconductors, driven largely by the rapid adoption of artificial intelligence (AI), has created significant opportunities for Malaysia. While the country currently holds around 13% of the global semiconductor testing and packaging market, it needs to move further up the value chain by developing higher-margin, intellectual property (IP)-driven segments such as integrated circuit (IC) design under initiatives including the New Industrial Master Plan 2030 (NIMP 2030) and the National Semiconductor Strategy. The report highlighted that GLICs are providing long-term investment support to local technology companies at various stages of development, from early-stage venture funding to public market growth. This approach aims to help Malaysian semiconductor firms expand their research and development (R&D) capabilities, strengthen innovation and compete more effectively in global markets. Beyond supporting domestic companies, GLICs are also working to attract international technology leaders to Malaysia by encouraging high-value investments and facilitating the transfer of advanced capabilities into the local semiconductor industry. The report noted that partnerships with experienced industry players are being developed through initiatives such as the Cambrian Fund, which aims to nurture next-generation deep-tech startups and strengthen Malaysia’s innovation ecosystem. GLICs have also established strategic collaborations with international investment firms, including Chengwei Capital, NRL Capital, InterVest and Ilham Capital, to bring specialised expertise into Malaysia while connecting local semiconductor companies with global supply chains and technology networks. Among the key initiatives highlighted was SkyeChip, a Malaysian pure-play integrated circuit (IC) design company that raised RM352 million through its initial public offering (IPO) on Bursa Malaysia’s Main Market in May 2026. More than 60% of the IPO proceeds, amounting to RM212 million, will be allocated towards research and development of silicon intellectual property and silicon products. Meanwhile, GLICs subscribed to 15.5% of the IPO’s cornerstone allocation, reflecting institutional support for the growth of Malaysia’s IC design capabilities. The report also highlighted Khazanah Nasional Bhd’s investment in US-based edge AI company Syntiant, which involves the establishment of a 220,000-square-foot campus in Penang. The facility will integrate advanced micro-electro-mechanical systems (MEMS) processing and AI engineering capabilities under one roof. The project is expected to create 200 high-skilled jobs out of 800 planned positions, support an annual production capacity of 1.6 billion advanced MEMS components, and generate approximately RM118 million in local expenditure as of June 2026. To further strengthen Malaysia’s deep-tech ecosystem, Khazanah is also supporting the Cambrian Fund, which completed a RM105 million second close as of June 2026. The fund aims to support early-stage Industrial Revolution 4.0 (IR4.0) and deep-tech companies, with plans to mentor and scale around 15 startups. Meanwhile, Khazanah and the Retirement Fund (Incorporated) (KWAP) have committed a combined RM695 million in 2025 into strategic regional deep-tech funds through partnerships with Chengwei Capital, NRL Capital, InterVest and Ilham Capital. These investments are designed to accelerate technology transfer, provide Malaysian semiconductor companies with greater access to funding, strengthen industry partnerships and create new opportunities within regional and global supply chains. The MoF said the continued deployment of strategic capital by GLICs reflects Malaysia’s ambition to evolve from a major semiconductor assembly and testing hub into a more innovation-driven technology ecosystem capable of competing in higher-value segments of the global semiconductor industry.

Property

MRCB To Dispose of Cyberjaya Land For RM419 Million

Malaysian Resources Corp Bhd (MRCB) is set to sell a parcel of land in Cyberjaya for RM419.05 million cash as part of its ongoing asset monetisation strategy. The disposal will be carried out through MRCB’s indirect wholly owned subsidiary, Subang Sentral Sdn Bhd (SSSB), which has entered into a conditional Sale and Purchase Agreement (SPA) with Digital Cosmos Malaysia Sdn Bhd for the sale of seven land parcels. The land parcels, which currently span approximately 36.66 acres, will be consolidated into a single title following the surrender and re-alienation process, resulting in a larger combined tract measuring about 45.81 acres. In a filing with Bursa Malaysia, MRCB said the land is strategically located within Cyberjaya City Centre, an area positioned as a key technology and business hub. An independent valuation conducted by Raine & Horne International Zaki + Partners Sdn Bhd valued the land at RM419.1 million, equivalent to approximately RM210 per square foot, which is in line with the proposed disposal consideration. MRCB expects the transaction to generate a pro forma gain of approximately RM81.4 million, strengthening the group’s financial position while unlocking value from its existing property assets. The company said the proceeds from the disposal will primarily be used to support its financial management initiatives. Approximately RM350 million from the proceeds will be allocated towards the repayment of its Sukuk Murabahah financing due within the next 12 months. Based on the prevailing interest rate of 4.24% per annum, MRCB expects the repayment of borrowings to generate estimated gross interest cost savings of RM14.84 million annually. The remaining RM31.12 million will be utilised to support the group’s working capital requirements, including its ongoing construction and property development activities. MRCB said the proposed disposal aligns with its strategy of actively managing its asset portfolio, improving capital efficiency and strengthening its financial flexibility to support future growth opportunities.

News

AEON Integrates Weixin Pay Across All Stores In Malaysia

AEON CO. (M) BHD. or (AEON) announced its collaboration with Weixin Pay during an official launch at Centre Court, AEON Mall Alpha Angle, on 5 August 2026. Chinese travellers can now use Weixin Pay at all AEON stores nationwide. The collaboration is supported by Tourism Malaysia as part of efforts to promote Malaysia as a preferred destination for Chinese tourists. Through the integration of Weixin Pay, AEON stores will be able to provide Chinese travellers with a more seamless payment experience, while creating new opportunities to attract more customers and drive business growth.  Hidekazu Iwaoka (left), and David Chong, Assistant Regional Director, Weixin Pay Southeast Asia officiating the launch of the collaboration. The campaign will run for one year, from 1 August 2026 to 31 July 2027. As part of the collaboration, the Visit Malaysia Year 2026 logo will be featured on AEON’s campaign point-of-sale materials, reinforcing Malaysia’s tourism promotion alongside the payment initiative. Throughout the campaign, customers who pay with Weixin Pay at AEON stores nationwide will enjoy exclusive preferential exchange rates, making every purchase even more rewarding. In addition, Weixin Pay users who spend at participating merchants across Malaysia, including AEON, will stand a chance to win vouchers worth up to RMB288 through a lucky draw. Together, these offers provide Chinese tourists and other Weixin Pay users with a seamless and rewarding shopping experience while visiting Malaysia. The collaboration reinforces AEON’s commitment to delivering greater value to customers while supporting national efforts to strengthen tourism. Hidekazu Iwaoka, Deputy Managing Director of AEON CO. (M) BHD., said, “We are pleased to collaborate with Weixin Pay to provide our customers with greater payment convenience while enhancing the shopping experience for visitors to Malaysia. This collaboration supports our commitment to delivering greater value to our customers and aligns with national efforts to strengthen tourism, particularly by making shopping more accessible and rewarding for Chinese visitors. We look forward to welcoming more tourists to our stores and contributing to Malaysia’s position as a preferred shopping destination.” David Chong taking a tour of AEON Mall Alpha Angle following the launch event. Commenting on the partnership, Mr. Ben Yang, Managing Director for Southeast Asia and North America at Weixin Pay, said, “At Weixin Pay, we are dedicated to delivering a seamless and trustworthy payment experience for users wherever they travel. With Visit Malaysia Year 2026 set to attract more Chinese travellers, we strive to ensure that their daily payments in Malaysia remain simple, convenient and intuitive, just like back home.”  

The Executives

Powering Industries, One Drop At A Time

There are products that sit at the centre of attention. And then there are products that quietly determine whether entire industries continue to function. Lubricants fall firmly into the latter category. Rarely noticed by consumers, they are nevertheless essential to the smooth operation of factories, power stations, shipping fleets, heavy machinery and millions of vehicles on the road. When they perform well, businesses operate seamlessly. When they fail, the consequences are measured in costly downtime, disrupted supply chains and operational risk.  Founder and Chief Executive Officer of Glide Technology Sdn Bhd – Datuk Muhazli Muhamad. For Glide Technology, this unseen role has become the foundation of a business built not simply on manufacturing lubricants, but on keeping industries moving. Since its establishment in 2007, the Malaysian company has grown into the country’s largest independent lubricant manufacturer, producing a comprehensive range of automotive, industrial, marine, power generation and transformer oils. Yet despite its scale, the company’s greatest asset is something less tangible than its products. It is trust. Today, Glide Technology counts organisations such as Petronas and the Malaysian Armed Forces among those who rely on its products, while its lubricants are exported to more than ten countries—a reflection of a reputation earned through consistency, reliability and long-term performance. The Business Behind Continuous Operations Every manufacturing line, logistics network and power facility depends on uninterrupted operations. While machinery often receives the spotlight, the systems that keep those machines performing efficiently are rarely discussed. Glide Technology sees its role differently. Beyond manufacturing lubricants, the company positions itself as an enabler of business continuity. Its products reduce wear, improve equipment performance and minimise operational interruptions, allowing customers to focus on running their businesses rather than responding to unexpected breakdowns. In an economy where downtime carries significant financial consequences, reliability has become a competitive advantage in its own right. For Glide Technology, success is measured not by the moments customers notice its products, but by the countless occasions when they never have to think about them at all. Building Through Partnership In highly competitive industrial markets, product quality is only one part of the equation. Long-term success increasingly depends on collaboration. Rather than approaching business through transactional relationships, Glide Technology has built its growth strategy around partnerships that create shared value across the supply chain. Leadership believes no single company possesses every capability required to solve increasingly complex industrial challenges, making collaboration an essential part of innovation rather than a competitive compromise. This philosophy extends beyond manufacturing. Recognising changing customer behaviour, the company has also begun expanding its digital presence through the soft launch of its TikTok Shop, making its products more accessible to everyday consumers while complementing its established industrial customer base. It reflects a broader commitment to meeting customers wherever they choose to engage—whether through enterprise partnerships or digital commerce. Growth Measured by Value For many manufacturers, growth is often associated with production volumes or annual revenue. Glide Technology views it differently. Its leadership defines growth by the value created for customers throughout the supply chain. Helping businesses improve reliability, reduce operational risk and overcome increasingly complex challenges carries greater long-term significance than pursuing rapid expansion for its own sake. This perspective has also shaped the opportunities the company chooses not to pursue. Growth that compromises product quality or weakens customer relationships has little strategic value. Instead, the company has remained committed to steady, sustainable progress built upon consistency, trust and long-term partnerships. It is an approach that recognises reputation as one of the most valuable assets any industrial business can possess. Innovation With Responsibility Industrial manufacturing is entering a new era where performance and sustainability must increasingly coexist. Rather than treating environmental responsibility as a separate initiative, Glide Technology has begun integrating it directly into product development. One of its most significant recent initiatives has been collaborating with the Malaysian Palm Oil Board to develop a palm oil-based transformer oil—an alternative to conventional mineral oil that is biodegradable and derived from locally sourced materials. The decision required greater investment and longer development timelines than conventional alternatives. However, leadership viewed it as an opportunity to demonstrate how Malaysian innovation can contribute to building more sustainable energy infrastructure while creating new possibilities for locally developed industrial technologies. It reflects a belief that responsible innovation often requires choosing the more challenging path when it creates greater long-term value. Looking Beyond Borders Having established a strong domestic presence, Glide Technology is now preparing for its next phase of growth. International expansion remains a key priority, alongside strengthening its reach into the consumer market for the first time. Supporting this ambition requires transformation from within. The company continues investing in production automation, digitalising operational processes and developing a workforce capable of competing within an increasingly global industry. These internal investments are designed not simply to improve efficiency, but to create an organisation capable of adapting to changing technologies, evolving customer expectations and new international opportunities. The Confidence to Keep Moving Industrial businesses are often judged by the products they manufacture. The strongest ones, however, are ultimately defined by the confidence they inspire. For nearly two decades, Glide Technology has quietly contributed to the performance of industries that power economies, move goods and connect communities. Its products may operate behind the scenes, but their impact is felt wherever reliability, efficiency and continuity matter most. As the company expands into new markets, embraces digital transformation and invests in more sustainable technologies, its direction remains remarkably consistent with the philosophy that has guided it since the beginning. Not simply producing lubricants. But helping industries move forward with confidence—one innovation, one partnership and one drop at a time.  

Lifestyle

Redefining Wellness For The Global Muslim Consumer

Once dominated by sectors such as food, finance and modest fashion, it is now expanding into a far broader ecosystem where health, wellness and personal care are becoming equally important. At the heart of this evolution is a new generation of consumers who are looking beyond certification labels. They are seeking products that reflect their values, understand their lifestyles and deliver meaningful solutions backed by science. Founder of Rehla – Hajjah Siti Hajar Harun. For businesses operating within this space, the opportunity is no longer about simply offering halal products. It is about redefining what halal wellness can become. This is the vision driving Rehla. Rather than positioning itself as another skincare company, the Malaysian brand is building a specialised wellness platform designed around the unique needs of Muslim travellers, pilgrims and faith-conscious consumers. By combining scientific research with practical innovation and Islamic values, Rehla is creating products that support not only healthier skin, but also greater comfort, confidence and peace of mind throughout life’s most meaningful journeys. Looking Beyond Conventional Skincare Every year, millions of Muslims undertake Umrah and Hajj, travelling to one of the world’s most physically demanding environments. Extreme heat, dehydration, prolonged outdoor exposure and limited access to conventional hygiene routines often result in dry, irritated and sensitive skin. Despite these common challenges, many products available to pilgrims have historically been adapted from conventional skincare ranges rather than specifically designed for the realities of pilgrimage. Rehla recognised this disconnect early. The company identified an opportunity not simply to introduce another halal-certified product, but to develop a new category of faith-conscious wellness solutions that respond directly to the physical, environmental and practical challenges experienced during worship and travel. Its portfolio of halal, ihram-friendly skincare, hygiene essentials and travel products has been developed specifically to support Muslim consumers during Umrah, Hajj and everyday travel, with formulations designed to remain gentle on sensitive skin while withstanding harsh climate conditions. Where Faith and Science Converge Modern consumers increasingly expect more than promises. They want transparency, efficacy and innovation supported by research. Recognising this shift, Rehla has built its product development strategy around scientific advancement rather than market trends. The company continues investing in nanovesicle delivery technology and bioactive botanical ingredients such as Melaleuca cajuputi to improve formulation performance while maintaining halal integrity and safety. This approach reflects a broader belief that faith and science are not competing ideas but complementary foundations for better wellness solutions. Every product is designed to balance Islamic values with contemporary healthcare innovation, creating practical personal care solutions that address real-world needs while remaining aligned with the expectations of today’s Muslim consumer. A Changing Halal Economy The halal wellness sector has evolved considerably over the past decade. Consumers are no longer satisfied with products that simply carry halal certification. They increasingly seek brands that demonstrate transparency, ethical formulation, clinical credibility and a genuine understanding of Muslim lifestyles. This changing landscape has strengthened Rehla’s market position. What began as a niche initiative addressing pilgrimage skincare has grown into a broader wellness platform that spans preventive skin care, travel hygiene, personal wellbeing and faith-conscious healthcare. Rather than competing within the crowded personal care market, Rehla is establishing itself within a specialised category where science, spirituality and lifestyle converge. Growing With Purpose Growth is often associated with expansion, higher sales and entering new markets. For Rehla, however, growth is measured differently. Its leadership believes success is defined by the positive impact the business creates for the wider Muslim community. If better products allow pilgrims to perform ibadah with greater comfort, confidence and dignity, then the company considers that meaningful growth. This philosophy also shapes the opportunities it deliberately chooses not to pursue. Rather than chasing short-term trends, competing through price reductions or introducing products without meaningful differentiation, Rehla has prioritised scientific validation, formulation quality and long-term brand credibility. The company believes sustainable growth is built through trust, not temporary market momentum. Building More Than Consumer Loyalty One of Rehla’s greatest strengths extends well beyond its products. The company has invested significantly in consumer education, helping Muslim travellers better understand skin protection, preventive hygiene and the importance of appropriate personal care throughout pilgrimage. By addressing practical challenges while sharing knowledge, Rehla has cultivated relationships that extend beyond individual purchases. Customers are not simply buying moisturisers or hygiene products. They are engaging with a brand that understands their spiritual journey, respects their values and provides solutions developed specifically around their lived experiences. This deeper connection has become one of the company’s most valuable competitive advantages, creating trust that is difficult to replicate through marketing alone. Scaling With Long-Term Vision As Rehla expands its presence, leadership recognises that sustainable growth requires more than increasing production capacity. Scaling internationally demands stronger systems, robust governance, regulatory readiness and strategic partnerships capable of supporting long-term commercialisation. Internally, the company continues strengthening operational capabilities, investing in talent development and adopting more data-driven decision-making while preserving the principles that have shaped the brand since its inception. This measured approach reflects a broader ambition: to become not simply a successful Malaysian brand, but a globally respected name within the halal wellness industry. Shaping the Future of Faith-Conscious Wellness The global Muslim consumer economy is entering an era where wellness, healthcare and personal care will play an increasingly important role. As expectations continue to evolve, businesses will be defined not only by the products they develop, but by how effectively they understand the communities they serve. For Rehla, the next chapter is about contributing to that future through continued investment in research, innovation, international market readiness and solutions that combine scientific excellence with faith-conscious design. Its ambition is to strengthen the global halal wellness ecosystem while helping Muslim consumers experience greater comfort, confidence and wellbeing wherever their journeys take them. In a marketplace where authenticity, purpose and innovation increasingly determine long-term success, Rehla is positioning itself at the intersection of all three. By looking beyond conventional personal care and focusing on the real needs of modern Muslim consumers, the

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