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Investment & Market Trends

Mudajaya Subsidiary Sells 45% Stake In Unit

Mudajaya Group Bhd’s indirect wholly owned subsidiary, Xelmont Ltd, is selling its 45% stake in Real Jade Ltd to Minyi Holdings Ltd (MHL) for HK$234 million (RM118.45 million). In a filing with Bursa Malaysia, Mudajaya said the disposal proceeds will mainly be used to offset debt owed to MHL, which amounted to HK$244.97 million as at April 30, 2026. The group added that the remaining balance of HK$10.97 million, along with the related interest, will be settled in cash. Mudajaya said the disposal allows the group to unlock part of its investment in Real Jade while still retaining a controlling stake in the company. This will enable the group to continue benefiting from any future growth and operational improvements at Real Jade.

News

Pharmaniaga Secures RM282 Million Medical Supply Contract

Pharmaniaga Bhd has secured a RM281.67 million contract to supply medical products to the Malaysian government through the Health Ministry’s (MoH) tender procurement exercise. In a filing with Bursa Malaysia, the pharmaceutical company said the contract was awarded to its wholly-owned subsidiary, Pharmaniaga Lifescience Sdn Bhd (PLS). The contract will run for a three-year period from June 3, 2026 to June 2, 2029. Pharmaniaga said the agreement falls within the ordinary course of business of the group and will allow PLS to continue providing distribution services for the supply of medical products to the MoH. The company added that the contract also supports efforts to improve diabetes management in Malaysia through the supply of high-quality and cost-effective biosimilar insulin products, amid the growing number of diabetic patients nationwide. Pharmaniaga expects the contract to contribute positively to the group’s earnings throughout the contract duration ending in 2029.

Investment & Market Trends

Big Caring Eyes RM3 Billion Valuation In Planned IPO

Big Caring Group Bhd, Malaysia’s largest pharmacy chain operator, is reportedly seeking to raise up to RM3 billion through a planned initial public offering (IPO), potentially making it one of the country’s largest listings in recent years. According to sources familiar with the matter, the pharmacy retailer is targeting a listing by October this year. Discussions remain ongoing and details, including the IPO size and timeline, could still change. Backed by private equity firm Creador Sdn Bhd, Big Caring plans to offer up to 25.5% of its enlarged share capital in the listing. Part of the proceeds raised is expected to be used for debt repayment. The planned IPO comes amid a strong year for Malaysia’s capital market, with around RM5.6 billion raised through IPOs so far in 2026. Among the largest listings this year was Sunway Healthcare Holdings Bhd, which raised RM3.3 billion in March after exercising its over-allotment option. Big Caring currently operates several well-known pharmacy brands, including Big Pharmacy and Caring Pharmacy, with a combined network of 626 outlets nationwide, according to its prospectus. The company also plans to expand aggressively by opening around 40 to 50 new outlets annually over the next three to five years. Creador, which invested in the company in 2015, currently owns about 34% of Big Caring and is expected to sell up to 14.8% of its stake through the IPO exercise. The company was founded by Lee Meng Chuan and Lim Sin Yin, who remain significant shareholders in the business. Big Caring did not respond to requests for comment on the proposed listing.

Investment & Market Trends

Vincent Tan Explores Sale Of Prudential Malaysia Stake

Billionaire Tan Sri Vincent Tan is reportedly considering selling his remaining 30% stake in Prudential Assurance Malaysia Bhd, according to people familiar with the matter. Tan is said to be in discussions with advisers regarding a potential divestment following the earlier disposal of a 19% stake in the insurer this year. Sources indicated that the stake sale could value Prudential Malaysia at more than RM20 billion, although discussions remain at an early stage and may not necessarily lead to a transaction. The proposed valuation could also change as deliberations continue, the sources added. Tan’s investment vehicle, Detik Ria Sdn Bhd, which is also linked to the Johor royal family, previously resolved a long-standing legal dispute with Prudential Plc last year. The settlement resulted in Prudential acquiring a 19% stake in the Malaysian insurer. The deal at the time valued Prudential Assurance Malaysia at approximately RM8 billion, leaving Detik Ria with a 30% holding while Prudential Plc retained a 70% stake, which is the maximum foreign ownership permitted under Malaysian insurance regulations. Any potential buyer for Tan’s remaining stake would need to be Malaysian due to local ownership rules governing the insurance sector. Tan declined to comment on the matter, while Prudential and its Malaysian unit did not respond to requests for comment.

Events

300 C-Suite Leaders To Confront Malaysia’s AI Leadership Gap At Summit Of Titans II

Futurefirst Solutions returns with Summit of the Titans II on June 9 to redefine leadership in the AI era with Global Industry Titans. Malaysia has no shortage of AI roadmaps. What it may be running short of is leaders who can actually execute them, and 300 of the country’s most senior executives will gather at Summit of Titans II to address that gap head-on. The conclave on June 9 brings together some of the country’s leading business minds, not to talk about AI, but to confront whether they are truly ready to lead through it. Organised by Futurefirst Solutions Sdn Bhd, the event will be held at New Ocean World, Petaling Jaya, strictly by invitation only. The summit is expected to gather top-tier executives overseeing tens of thousands of employees across Malaysia’s largest multinationals and government-linked companies, including general managers, managing directors, and chief human resource officers. A look back at the previous launching of the Summit of the Titans 2025, with the grand unveiling of the Cheetah Chase book. Futurefirst Solutions co-founder Shankar Nagalingam said the AI era demands a different kind of leadership. “The AI era won’t be won by those who understand the technology, it will be won by those bold enough to lead through it,” he said. The summit aims to equip senior decision-makers with the capabilities needed to lead organisations through rapid AI-driven change, while strengthening collaboration, decision-making, and leadership readiness across industries. The half-day programme, running from 9am to 12.30pm, will be officiated by Academician Tan Sri Datuk Seri Dr. Ir. Ahmad Tajuddin Ali, Chairman of SIRIM Berhad and Pro-Chancellor of Universiti Sains Malaysia, and will begin with a live choreographed performance. Professor Keith Carter, an AI strategist, author, and TEDx speaker, will deliver the keynote address on leadership capabilities required in an AI-driven world. The session will be followed by a cross-industry panel featuring Catherine Lian, ASEAN Lead at IBM; Ang Wee Seng, President of the Semiconductor Industry Association of Singapore; and Sunderaj Nagalingam, Founder of Binacap. A key highlight of the summit is The Titans’ Fireside, an unscripted 20-minute conversation between Andy M, General Manager of Dell Technologies, and Chua Chai Peng, General Manager of Experian. The discussion is expected to address whether AI could displace 30 per cent of corporate headcount within the next 24 months, and whether senior leaders are adequately preparing their organisations for that reality. Meanwhile, co-founder Dr Chanthiran Veerasamy said the time for waiting has passed. “Waiting to see how AI unfolds is no longer a strategy. The leaders who act now will define their industries, the rest will follow them,” he said. Futurefirst Solutions Sdn Bhd co-founders, Shankar Nagalingam (right) and Dr Chanthiran Veerasam. The summit will also feature the official launch of TARANTULA TRAIL, a new leadership venture by FutureFirst Solutions. A cinematic trailer will premiere during the event, with both co-founders sharing insights into the venture’s journey. Summit of Titans II follows a successful first edition that attracted strong interest among senior leaders. The second edition comes as AI increasingly moves beyond pilot programmes into the core of business operations across Malaysia. Co-sponsored by UOA Academy and Technomech, the summit is designed specifically for senior leaders. With AI continuing to reshape how companies operate, organisers said the question is no longer whether leaders need to act, but whether they already have.

News

FWD Takaful Named Best Direct Distribution Channel At Industry Awards Night

FWD Takaful Berhad (FWD Takaful) was awarded the Best Direct Distribution Channel – Family Takaful by the Malaysia Takaful Association (MTA) at the Takaful Star Awards 2026. The award recognised the transformative efforts through FWD i-Lindung plan, a hybrid offline-to-online (O2O) distribution model that made digital takaful protection scalable and inclusive. The innovation led to remarkable adoption, delivering 60% of the market share for i-Lindung plans, a national self-service platform that simplifies the process of purchasing protection products. Digital Commerce Team led by Marcus, Tjon Tsin Kim was present to receive the award. FWD i-Lindung offers two plans, FWD i-Lindung Term Takaful Plan and FWD i-Lindung Critical Illness Plan, both of which provides takaful protection for death and total and permanent disability benefits as well as early-to-advanced stages of critical illness. Aman Chowla, Country Chief Executive Officer of FWD Malaysia, said, “There was an industry wide challenge – digital channels continue to contribute minimally to overall takaful offerings. Our approach focuses on making digital simple for everyday customers and turning complex processes into a guided and high‑confidence experience. The result was a scalable, inclusive model that brought first-time coverage to thousands of Malaysians, reduced digital intimidation, and meaningfully closed the protection gap in communities that need it most.” The Takaful Star Awards recognise exemplary performance among Takaful operators, agents, and industry leaders. FWD Takaful has also received multiple recognitions during the prestigious awards night including winner (Palanisamy a/l Krishnan) for Top Group Business Corporate Agency – Family Takaful Group Business, winner (Ching Yuen Hui) and first runner-up (Katherine Yong Yee Hwa) for Top Banca Takaful Producer (Bank Marketing Staff) – Bancatakaful, as well as first runner-up (Jaffri bin Osman) for Top Rookie Agent – Family Takaful Individual Business. This recognition reaffirms FWD Takaful’s commitment in changing the way people feel about takaful by enabling consumers to build a stronger, more secure future.

The Executives

Standard Chartered Names Shebani Baweja As Group Chief Data Officer

Standard Chartered has appointed Shebani Baweja as its Group Chief Data Officer (CDO), effective immediately. She will report to Alvaro Garrido, Chief Operating Officer for Technology & Operations (T&O) and Chief Information Officer for Information Security & Data, and will be based in Singapore. In her new role, Shebani will lead the Group Data Office and oversee the Bank’s data strategy, including how data is governed, managed, and utilised across the organisation. She will also drive the implementation of stronger data foundations, standardised practices, and wider use of data analytics to support growth, innovation, and decision-making. Shebani brings more than 20 years of experience in data and digital transformation. Since joining Standard Chartered in 2008, she has held several senior leadership roles across Wealth and Retail Banking (WRB) as well as T&O transformation. Most recently, she served as Chief Information Security Officer (CISO) for WRB and International Markets, where she led cyber risk strategy and strengthened governance and security controls to support digitisation and business growth. Alvaro Garrido, Chief Operating Officer for Technology & Operations and Chief Information Officer for Information Security & Data at Standard Chartered, said the Bank’s technology and data capabilities remain key to delivering world-class client services. “As we continue to expand our use of data and AI to help clients seamlessly connect with growth opportunities across our unique network, Shebani’s leadership will be key in strengthening our data-driven culture that simplifies with discipline and keeps risk and integrity at the forefront,” he said. Commenting on her appointment, Shebani said data continues to play a central role in supporting the Bank’s operations and client-centric innovation strategy. “I am thrilled to be appointed to the role at such a pivotal moment. Data is central to how Standard Chartered delivers robust, safe and scalable solutions and drives measurable value for our clients and colleagues. I look forward to working with the team to advance our data strategy and power the next phase of client-centric innovation – one that is supported by trusted, responsible use of data,” she said.

Investment & Market Trends

Aquawalk Group To Build New Oceanarium In East Java, Indonesia Via Joint Venture

Aquawalk Group Berhad (“Aquawalk” or “the Group”), whose subsidiaries develop and operate several world-class aquaria including Aquaria KLCC, has today announced that its wholly-owned subsidiary, Aquawalk (Indonesia) Sdn Bhd (“AQWID”), has entered into a Shareholders cum Joint Venture Agreement (“SJVA”) with PT Maju Batu Bersama (“PTMBB”) to jointly undertake the development, ownership and operation of a new oceanarium in East Java, Indonesia (“Project”). This is Aquawalk’s second venture in the Indonesian market, the other being Jakarta AQuarium Safari. The Project will be undertaken through a newly incorporated joint venture company (“JVCo”) in Indonesia, with Aquawalk holding a 60% equity stake and PTMBB holding the remaining 40%. Group Executive Chairman of Aquawalk, Dato’ Simon Foong (拿督冯重兴) said, “This joint venture marks another important milestone in our growth journey. Indonesia remains a key market for us, supported by strong domestic consumption, favourable demographics, and a growing tourism sector. Our collaboration with PTMBB allows us to combine our technical and operational expertise with local market knowledge to deliver a compelling oceanarium in East Java.” The new oceanarium, to be branded “Aquaria Java Timur Park” will be developed within Jawa Timur Park 3 in Batu, East Java, an existing and operational integrated tourism and leisure development by the Jawa Timur Park Group. This family-oriented destination is already an established attraction in East Java, comprising a range of themed attractions, educational and entertainment facilities, as well as retail and supporting amenities. A lease agreement is expected to be executed between PTMBB and the JVCo, for a minimum term of ten years, with an option to renew for a further ten years, in respect to the development and operation of the Project. The total initial investment for the project is estimated at approximately IDR110 billion (approximately RM24.6 million), to be funded proportionately by the joint venture partners. Aquawalk’s share of the investment amounts to approximately IDR66 billion (approximately RM14.8 million), which will be funded by the Group’s initial public offering proceeds allocated for expansion. Under the terms of the SJVA, Aquawalk will take on the role of design, development, construction, and operations of the oceanarium, leveraging its track record in delivering world-class marine attractions, while PTMBB will support the project through local coordination including liaison with the master developer, landowner, and relevant authorities, as well as ensuring regulatory compliance through securing necessary approvals, licenses, and permits. Dato’ Simon added, “A key advantage of this project is that we are not building a destination from scratch. Jawa Timur Park 3 is already a well-established tourism destination with a steady visitor base, which gives the new oceanarium an immediate platform on opening and shortens the typical ramp-up curve for a new attraction. We aim to deliver an attraction that contributes to tourism in the region and supports marine education and conservation.”

Lifestyle

Banyan Group Launches New Block At Bellaguna Lake Residences In Laguna Phuket

Strong demand for the development’s first phase drives Banyan Group Residences to release new block at Bellaguna Lake Residences, opening the door to a new wave of homeowners and investors. Banyan Group Residences is proud to announce the launch of new residential block at Bellaguna Lake Residences, its acclaimed lakeside development at Laguna Phuket. The release comes on the back of exceptional sales performance since the development’s inaugural phase launched late last year, with sustained demand from international buyers prompting the Group to bring additional homes to market ahead of schedule. “The response to Bellaguna Lake Residences has been outstanding,” said Stuart Reading, Managing Director of Banyan Group Residences. “This new block release is a direct result of that demand – and a clear signal of confidence in both the development and in Laguna Phuket as a destination for discerning global buyers. We are delighted to be able to offer a new group of homeowners and investors the opportunity to be part of this community.” Expanding on a Proven Foundation Bellaguna Lake Residences is the first development under Bellaguna, Banyan Group Residences’ newest brand for premium year-round homes that sit outside hotel inventory yet benefit from the Group’s renowned hospitality management standards. The new block release builds directly on the exceptional performance of the development’s first phase, with the same masterplan, facilities, design language and community – now opening its doors to a fresh cohort of residents and investors. The new block delivers a broader selection of layouts, including two-bedroom residences with private pools – a highly sought-after configuration that has proven particularly popular with international buyers. About Bellaguna Lake Residences Set beside a shimmering lake within Laguna Phuket, steps from the soft sands and idyllic sunsets of Bang Tao Beach, Bellaguna Lake Residences takes its design cues from the sleek lines of a contemporary luxury yacht. Five elegantly elongated buildings cut a distinctive silhouette against the skyline, their dark wave-like façades shifting with the light of the lake below. Inside, warm neutral interiors are flooded with natural light through floor-to-ceiling glazing, while generous terraces and balconies echo the fluid curves of the surrounding water – blurring the boundary between the residence and the landscape beyond. Residences include one- to three-bedroom condominiums and two- to three-bedroom penthouses with private rooftop pools, as well as a selection of ground floor units, all with private terraces overlooking the lagoon. Each building is crowned by a rooftop infinity pool with private cabanas, while lush landscaped gardens below offer everything from secluded relaxation spaces to family play zones, connected by a signature boardwalk and dock linking residents to Laguna Phuket’s shuttle ferries. Show units are now open for viewing at the Laguna Property Sales Gallery within Laguna Phuket, offering prospective buyers an experiential introduction to the design, interiors, and lifestyle on offer. Private appointments are available on request. An Ownership Experience Beyond Compare Residents enjoy the full suite of privileges available through the Laguna Advantage programme, including a first year of complimentary property management and insurance, along with a range of lifestyle benefits spanning education, healthcare, and leisure. These include discounts on international school fees, a complimentary membership to BDMS health, and RAVA Beach Club – Thailand’s largest beachfront club. Select units also include membership at the prestigious Laguna Golf Phuket. Beyond the development itself, owners become part of Banyan Group’s wider global community through complimentary Sanctuary Club membership, unlocking privileges across the Group’s international network of hotels, resorts, spas and galleries. For those seeking a return on their investment, Banyan Living – Banyan Group’s professional residential rental platform – provides a trusted, hotel-standard rental service with the flexibility that private owners need. An Unrivalled Location Laguna Phuket is Southeast Asia’s leading integrated resort destination, spanning over 1,000 acres of parkland, lagoons, and three kilometres of pristine beachfront. Residents enjoy world-class dining, award-winning spas, boutique retail, Laguna Golf Phuket, and a full range of family-friendly facilities – all within a secure, self-contained environment just 30 minutes from Phuket International Airport. Banyan Group continues to lead in branded residential development, ranked No.1 in Asia by volume and 5th globally, with the Group anticipating the launch of up to USD 1 billion in new luxury residential projects in Phuket over the next two to three years.

ESG

LNM Wealth Advisory On Building Sustainable Growth And Social Impact

  Why Businesses Today Must Think Beyond Profit The modern business environment is becoming increasingly interconnected, where financial resilience, leadership, and long-term business responsibility can no longer operate in isolation. In response, companies are being forced to rethink traditional definitions of growth and success. For many organisations, growth has traditionally been measured through revenue expansion, market dominance, and operational scale. Yet for LNM Wealth Advisory Sdn Bhd, growth represents something far more meaningful — the ability to create sustainable impact that extends beyond business itself. With over 28 years of industry experience, LNM Wealth Advisory has steadily evolved from a traditional financial advisory and risk management firm into a purpose-driven ecosystem that bridges financial empowerment, ESG values, and community sustainability. Today, the company serves a broad spectrum of clients ranging from individuals and families to SMEs, NGOs, and corporate organisations seeking not only financial guidance, but also long-term resilience and responsible growth strategies. What distinguishes the organisation is not merely its advisory expertise, but the philosophy that business should operate as a force for societal value creation. Over the years, initiatives associated with the organisation and its wider ecosystem have supported more than 1.4 million individuals and approximately 278,000 families across Malaysia through both in-kind and monetary contributions amounting to more than RM17 million between 2018 and 2024. These efforts have extended to schools, welfare homes, rehabilitation centres, and underserved communities nationwide. At the same time, the organisation has played a role in diverting hundreds of tonnes of reusable furniture away from landfills through circular economy and reuse initiatives. While these numbers are significant, the deeper story lies in how LNM Wealth Advisory has intentionally integrated sustainability and social responsibility into its operational DNA rather than treating them as standalone CSR initiatives. At a time when ESG has become one of the most discussed topics within the corporate world, many organisations are still navigating what practical implementation truly looks like. For LNM Wealth Advisory, ESG is not viewed as a branding exercise or compliance obligation, but as a long-term framework for responsible decision-making and sustainable business development. This perspective continues to shape the company’s strategic direction today. The organisation’s current focus revolves around three primary pillars — strengthening professional financial advisory capabilities, expanding ESG-related training and reporting solutions, and building sustainable social impact platforms through its NGO ecosystem and vocational empowerment initiatives. Underlying these priorities is a broader recognition that businesses today are increasingly expected to contribute meaningfully to society while maintaining operational resilience and ethical governance. Rather than pursuing short-term gains or rapid expansion at all costs, the company adopts a long-term value creation approach when allocating time, capital, and resources. Decisions are evaluated based on sustainability, scalability, ethical alignment, and the ability to create measurable positive outcomes for underserved communities, particularly within the B40 and special needs ecosystems. This values-driven philosophy has become increasingly relevant in today’s business climate, where stakeholders — including customers, employees, regulators, and investors — are placing greater emphasis on corporate accountability and societal contribution. For LNM Wealth Advisory, the concept of growth itself has therefore evolved. “True growth means increasing our ability to create meaningful and sustainable impact — financially, socially, and environmentally,” the organisation shares. This belief is reflected not only in the company’s advisory work, but also in the initiatives it continues to invest in despite economic uncertainty and rising operational pressures. Over the past several years, the organisation deliberately chose to strengthen rather than reduce its commitments towards community sustainability initiatives and vocational empowerment programmes. These include surplus food rescue efforts, furniture reuse programmes, ESG awareness initiatives, and vocational support for special needs individuals and underserved communities. To date, initiatives linked to the organisation’s ecosystem have facilitated the reuse of furniture and household items valued at more than RM10 million, contributing both to environmental sustainability and improved living conditions for families, schools, and welfare centres. Such decisions required significant operational discipline and internal restructuring, particularly during periods of economic volatility. Yet the organisation believes that responsible growth must continue even during difficult periods — especially when communities remain in need of support. In many ways, this reflects a broader shift taking place within the business landscape itself. Increasingly, companies are discovering that sustainability is no longer separate from commercial performance. Instead, long-term resilience is becoming deeply tied to trust, governance, social responsibility, and the ability to operate with purpose. This is where LNM Wealth Advisory appears to have carved out a unique positioning.   Beyond technical expertise, the organisation has developed a reputation for building trust-based ecosystems across sectors that traditionally operate independently. It actively connects financial services, NGOs, corporate CSR initiatives, ESG implementation frameworks, volunteer networks, and community development programmes into a functioning collaborative ecosystem. Much of this work takes place quietly behind the scenes through relationship-building, operational coordination, and long-term partnerships rooted in shared purpose. In an era where businesses are increasingly seeking authenticity and measurable impact, this ability to bridge commercial sustainability with social outcomes has become one of the company’s strongest differentiators. Equally important is the emphasis placed on purpose-driven leadership. Clients and partners are increasingly drawn not only to the organisation’s capabilities, but also to the sincerity behind its mission and the consistency with which it approaches long-term societal contribution. Looking ahead, LNM Wealth Advisory’s ambitions extend far beyond remaining a conventional advisory firm. The organisation is now positioning itself towards becoming a broader impact-driven platform that integrates financial empowerment, ESG leadership, community sustainability, and social enterprise development under one ecosystem. A major part of this next phase includes strengthening the development of Yayasan Muhibbah while expanding vocational training and sustainable community support programmes nationwide. Over the longer term, the organisation also aims to establish stronger regional collaborations that could position Malaysia-based ESG and social sustainability initiatives as scalable models across Southeast Asia. As ESG reporting, responsible governance, and sustainability frameworks continue gaining momentum globally, the organisation sees increasing opportunities to support companies seeking practical and measurable implementation strategies rather than purely theoretical approaches.

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