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Investment & Market Trends

Sime Darby Property Launches RM1.25 Billion Fund For Data Centres And Industrial Assets

Sime Darby Property Bhd has launched a new investment fund with a target size of up to RM1.25 billion to develop and invest in data centres and industrial assets located within its townships across Malaysia. Known as the New Economy Venture, the fund has secured full capital commitments from the Employees Provident Fund (EPF), the Armed Forces Fund Board (LTAT) and Great Eastern Life Assurance (Malaysia) Bhd. The company said additional limited partners may be brought into the fund at a later stage. Sime Darby Property chief executive Datuk Seri Azmir Merican. Sime Darby Property Group Managing Director and Chief Executive Officer Datuk Seri Azmir Merican said the initiative represents a significant milestone in expanding the group’s investment and fund management capabilities. According to the company, the New Economy Venture builds on its growing presence in the industrial and logistics sector following the launch of its RM1 billion Industrial Development Fund, a joint venture with LOGOS Property established in 2022. Together, the two funds are expected to strengthen Sime Darby Property’s recurring income base by generating investment yields and fee-based earnings from the development and management of assets such as data centres, warehouses and other new economy infrastructure that continue to see strong market demand. The new fund has already secured two seed assets located within the group’s flagship developments, Elmina Business Park and the City of Elmina. These projects account for approximately 85% of the targeted fund size and are backed by long-term lease agreements. Construction of both assets is expected to be completed in the second half of 2027. Under the investment structure, Sime Darby Property will serve as the general partner and contribute RM500.1 million to the main fund. EPF will invest RM100 million, LTAT will commit RM200 million and Great Eastern will provide RM199.9 million. In addition, EPF will participate in a sidecar investment vehicle with a capital commitment of RM250 million. The sidecar fund is designed to invest alongside the main fund in selected projects. The company said the initiative supports its capital-light growth strategy by leveraging third-party institutional funding to accelerate the development of new economy assets across its existing townships. Sime Darby Property added that its investment and asset management division currently oversees approximately RM4.4 billion worth of assets, supported by a long-term hyperscale data centre lease that commenced operations in April 2026.

ESG

When Every Beat Matters: How CVSKL Foundation Is Helping Malaysia’s Heart Patients

For many Malaysians living with serious heart disease, the greatest challenge is not always the diagnosis itself—it is finding a way to afford the treatment that could save their lives. Datuk Dr Tamil Selvan Muthusamy (left), consultant cardiologist at CVSKL and Tan Sri Rashpal Singh Randhay, chairman of CVSKL foundation.  At the CVSKL Foundation, the charitable arm established by Cardiac Vascular Sentral Kuala Lumpur (CVSKL) in 2022, the mission is to help financially vulnerable patients facing some of the most complex and expensive cardiac conditions. Since its establishment, the foundation has funded 39 major cardiac procedures, including seven in 2022, 12 in 2023, six in 2024, 10 in 2025 and four so far this year. CVSKL Foundation chairman Tan Sri Rashpal Singh Randhay said the organisation was created to ensure that financial hardship does not prevent patients from accessing lifesaving care. “The vision was always about giving back to society. We wanted to help patients who genuinely have no means of obtaining the treatment they need,” he said. A Careful and Dedicated Selection Process Unlike many charitable healthcare programmes, every application undergoes a thorough financial and medical assessment before assistance is granted. Beyond evaluating a patient’s financial circumstances, each case is reviewed by CVSKL specialists, who assess the complexity of the condition, available treatment options and the urgency of intervention before making recommendations to the foundation’s trustees. “We reject about 50% of applications because our resources are limited and we need to prioritise those who are most in need. “Our focus is on cases where patients referred to us have exhausted all means of financial support,” Rashpal said. He explained that the rigorous assessment process ensures that the foundation’s limited resources are directed towards those with the greatest need. One recent case involved a 14-year-old girl whose application was initially rejected but later reassessed after further evaluation by the medical team. Based on the specialists’ recommendations, the foundation eventually approved funding for a right heart catheterisation procedure. “We rejected the case at first, but after further review and strong recommendations from the doctors, the case was approved,” he said. Supporting Patients with the Most Complex Conditions Datuk Dr Tamil Selvan Muthusamy, Consultant Cardiologist at CVSKL, said the foundation focuses on helping patients who have exhausted all other avenues for treatment. “These are the patients we want to help — those who really have no means to pay for medical procedures that they need,” he said. Datuk Dr Tamil Selvan Muthusamy (left), consultant cardiologist at CVSKL and Tan Sri Rashpal Singh Randhay, chairman of CVSKL foundation.  Many beneficiaries, he explained, suffer from severe and highly complex cardiac conditions and have often been assessed as high-risk or have waited a long time for treatment elsewhere. “A lot of the patients who come to us are not straightforward cases. “Many are extremely ill, have been waiting a long time for treatment, or have been assessed as very high risk,” he said. Tamil Selvan recalled one patient who arrived at CVSKL after a prolonged wait for treatment and was in critical condition. “He was so sick that we were not even sure he would survive. “He spent almost a month in hospital, but today he is doing well. The foundation played a crucial role in helping him receive treatment,” he said. What Makes the Foundation Different A key feature of the programme is the level of support provided by the hospital and its medical specialists. For approved cases, CVSKL doctors waive their professional fees, while the hospital charges the foundation at cost instead of commercial rates. In some cases, medical device suppliers also contribute through corporate social responsibility (CSR) initiatives to further reduce treatment costs. “The doctors do not charge professional fees and the hospital charges us at cost. “That allows us to help patients who otherwise would not have been able to afford treatment,” Rashpal said. Among the advanced procedures supported by the foundation are transcatheter mitral valve repair, Impella-assisted high-risk percutaneous coronary intervention (PCI) and right heart catheterisation. Tamil Selvan noted that some of these treatments involve technologies available at only a handful of centres in Malaysia. One example is the Impella heart pump, a temporary mechanical circulatory support device used during highly complex coronary procedures. “The device alone costs about US$25,000 (RM100,702.44). These are not routine angioplasty cases. “They are often patients with severe heart failure or complex blockages where conventional treatment carries very high risk. “Without support, many would simply not be able to access such treatment,” he said. Sustaining the Mission The foundation is one of three pillars established by CVSKL alongside public health education and research, although much of its resources are currently focused on patient assistance. To sustain its work, the foundation depends on donations and fundraising activities. Rashpal said the organisation typically holds two major fundraising events each year to support future patient programmes. This year, the foundation will host a charity hi-tea at The St Regis Kuala Lumpur on June 13, followed by a golf tournament later in the year. The fundraising target is approximately RM1 million, which will help support patients through 2027 and 2028. At present, the foundation’s funding model combines hospital cost-price support, CSR partnerships, fundraising efforts and a RM500,000 pledge from CVSKL. Beyond the foundation itself, CVSKL also works with medical device companies and corporate partners to subsidise treatment for financially challenged patients who may not qualify for foundation assistance but still struggle to afford care. Despite these efforts, Tamil Selvan acknowledged that demand continues to exceed available resources. “We want to help more people, but funding remains the biggest limitation. “There are many patients who could benefit from these treatments, but every programme depends on having sufficient resources,” he said. More Than the Cost of Treatment For Rashpal, the mission remains simple despite the challenges. “Every application represents someone fighting for their life. “Our responsibility is to ensure that those who truly have nowhere else to turn are given a chance,” he said. As cardiovascular disease remains one of

Lifestyle

Jati Takes Local Rice From The Shelf To The Snack Aisle With Chom Chom

 [L-R]: Sufian Bin Zainuddin, Director of Tourism Malaysia Central Region; Datuk Seri Isham bin Ishak, Secretary-General, Ministry of Agriculture and Food Security; Duli Yang Teramat Mulia Che Puan Muda Zaheeda Binti Mohamad Ariff, Tuanku Raja Puan Muda Kedah; Low Kok Kean, Managing Director, Serba Wangi Sdn Bhd posing with the Chom Chom mascot at JATI’s Chom Chom white rice snack launch yesterday. Jati, a household name in Malaysian rice for decades, is making its first move into the country’s competitive snack market with Jati Chom Chom, a ready-to-eat white rice puff snack made with local rice. Serba Wangi Sdn Bhd, the Malaysian rice producer and distributor behind the Jati brand, is pushing to transform local rice into a modern snacking experience for children, teenagers, young working adults and families.  The move comes as consumers are increasingly looking for convenient and distinctive options beyond traditional corn, potato and wheat-based formats.  Low Kok Kean, Managing Director, Serba Wangi Sdn Bhd delivering the welcome speech at the Jati Chom Chom Grand Launch Event held yesterday. Managing Director Low Kok Kean expressed that Jati Chom Chom represents an exciting milestone for the company as it continues to explore new possibilities for rice beyond traditional consumption. “By transforming local rice into a fun, light and flavourful snack experience, we aim to connect with a new generation of consumers while demonstrating how innovation can create fresh opportunities for familiar ingredients,” he said.  Manufactured in a facility certified to Halal, HACCP and the internationally recognised ISO 22000:2018 food safety management standard, Jati Chom Chom delivers a light, crunchy and flavourful snack experience. These certifications reflect SW Food’s commitment to quality, consistency and high food safety standards. It combines familiar local taste with modern snacking innovation, bringing rice into a format that is more relatable and accessible to younger generations. The rice puff snack is available in Tomato and Cheese flavours, retailing from RM1.99 for a 60g pack and RM3.79 for a 112g multipack, with final prices varying by outlet and promotion. The product officially launched at Old Malaya, Kuala Lumpur yesterday, was officiated by Tuanku Raja Puan Muda of Kedah, DYTM Che Puan Muda Zaheeda Binti Mohamad Ariff. The venue embodies the local culture, food, community and heritage. Its strong Malaysian identity and nostalgic atmosphere made it a natural fit for the occasion, reflecting the brand’s direction of bringing local rice into a contemporary everyday format.  Jati Chom Chom Grand Launch at Old Malaya held yesterday. DYTM Che Puan Muda Zaheeda said innovations such as Chom Chom not only create new products, but also drive demand for local rice, supporting farmers’ incomes and strengthening the entire rice ecosystem. “This is the true impact that we should celebrate, how innovation connects the entire rice value chain, from paddy fields to market. “The steps taken by Serba Wangi reflect the courage to continue innovating while remaining grounded in the strength and heritage of the nation’s agriculture,” she said. The entry into snacking reflects a broader trend among established Malaysian food companies looking to extend their brand equity into new consumer categories, as snacking becomes an increasingly central part of everyday lifestyles and new snacking occasions emerge.  For Jati, it also marks a continuation of the brand’s ongoing journey in food innovation, quality and product development, one that now extends beyond the rice bag and into the snack aisle.  The rice snack is currently available at selected Lotus’s, Giant and AEON outlets nationwide, with distribution being progressively expanded into general trade channels to strengthen accessibility across urban and suburban communities. Jati Chom Chom reimagines local rice into a new generation of snacking, fun, affordable and accessible for younger consumers, backed by the trusted Jati name and its continuous commitment to product innovation, quality and consistency.  Datuk Seri Isham Bin Ishak, Secretary-General, Ministry of Agriculture and Food Security delivering a speech at The Jati Chom Chom Grand Launch Event held yesterday. Meanwhile, Secretary-General of the Ministry of Agriculture and Food Security, Datuk Seri Isham Ishak, who was present at the event said the future of Malaysia’s agricultural sector is no longer centred solely on production, but lies in innovation, branding, value creation and market expansion. “I am very proud to share that Chom Chom has been introduced as ‘Malaysia’s First White Rice Snack’. This is a remarkable achievement!” “Products such as Chom Chom show how local rice can evolve beyond traditional consumption into a modern product with wider commercial potential,” he said.

Investment & Market Trends

BS FITNESS: Building A Malaysian Brand For International Markets

YM Raja Lokman bin Raja Ahmad, Founder, BS Fitness Nutrition (M) SDN. BHD. Building a successful business is one challenge. Building a business that can scale consistently across manufacturing, distribution, exports, compliance, and brand development is another altogether. For BS Fitness Nutrition (M) Sdn Bhd, growth has never been viewed simply through the lens of product sales. Instead, the company has focused on creating the operational infrastructure, manufacturing capabilities, and market foundations required to build a business with long-term relevance and international potential. Today, operating from two production facilities in Bangi with a manufacturing capacity of up to 40 tonnes per month, BS Fitness Nutrition has established itself as an emerging player within Malaysia’s sports nutrition and functional wellness industry. Yet behind the products lies a broader strategy centred on manufacturing excellence, export readiness, ecosystem development, and the creation of a Malaysian brand capable of competing on a larger stage. As consumer expectations continue to evolve and global competition intensifies, the company’s focus remains clear: building a business defined not by short-term growth, but by operational credibility, scalability, and sustainable value creation. The wellness and performance nutrition sector has undergone significant transformation over the past decade. Once dominated by a handful of international brands, the market today is increasingly competitive, sophisticated, and driven by consumers who demand far more than attractive packaging or marketing claims. Quality assurance, product transparency, manufacturing standards, and brand trust have become critical factors influencing purchasing decisions. BS Fitness Nutrition recognised this shift early. When the company entered the market, there was a noticeable gap between what consumers were looking for and what was readily available. While demand for sports nutrition and performance supplements was growing steadily, locally manufactured products capable of competing with established international brands remained relatively limited. This created an opportunity not only to manufacture products, but to build a business around credibility, consistency, and consumer confidence. Rather than approaching the market purely from a retail or product perspective, the company invested heavily in building its manufacturing capabilities, operational systems, and compliance framework. This long-term approach allowed BS Fitness Nutrition to position itself as more than a product company—it became a business built on production capability, quality control, and continuous innovation. Today, the company produces a growing portfolio of sports nutrition products, functional beverages, and performance supplements while serving athletes, fitness communities, active consumers, commercial partners, and distributors. However, management views these products as an outcome of the business rather than the business itself. At the heart of BS Fitness Nutrition’s strategy is the creation of a scalable ecosystem. The company has spent years strengthening the foundations required for sustainable growth. This includes investments in research and development, manufacturing technology, compliance standards, digital commerce capabilities, distribution networks, and strategic partnerships. These investments may not always be visible to consumers, but they form the backbone of a business designed to compete in increasingly demanding markets. A key pillar of the company’s growth strategy is international expansion. While Malaysia remains an important market, BS Fitness Nutrition sees significant opportunities beyond its domestic borders. Rising global demand for wellness products, increasing acceptance of Malaysian-made goods, and growing interest in trusted nutritional solutions have created favourable conditions for expansion. To support this ambition, the company has actively participated in international trade exhibitions, export acceleration programmes, and cross-border business initiatives. These efforts are not simply aimed at increasing sales volumes but at building long-term market access, strengthening distribution channels, and establishing the credibility necessary to compete internationally. This disciplined approach also shapes how the company defines growth. For many businesses, growth is often measured through revenue, outlet expansion, or market share. BS Fitness Nutrition adopts a broader perspective. Growth means building stronger operational capabilities, creating entrepreneurship opportunities, developing products that can scale across markets, strengthening export presence, and building trust with customers and business partners alike. Equally important is what the company chooses not to pursue. Management remains cautious about opportunities that may generate short-term gains but undermine long-term sustainability. Price competition, aggressive expansion without supporting infrastructure, and growth that compromises quality standards are areas the company deliberately avoids. Instead, the focus remains on strengthening the foundations that support long-term competitiveness. As the business has expanded, maintaining consistency has become increasingly important. Generating demand is often easier than managing complexity. Scaling production, ensuring quality assurance, maintaining regulatory compliance, coordinating logistics, managing exports, and developing people all require a different level of organisational maturity. To address this, BS Fitness Nutrition has evolved from a founder-driven business into a more structured organisation supported by specialised leadership, operational systems, departmental accountability, and standardised processes. This transformation has enabled the company to maintain agility while creating the discipline necessary for larger-scale growth. Leadership development has become a particularly important area of focus. As the organisation continues to grow, the ability to build capable teams, empower decision-making, and develop future leaders will play a critical role in sustaining momentum. Behind the company’s commercial success lies a significant commitment to operational excellence. Over the past 18 months, BS Fitness Nutrition has prioritised investments into manufacturing systems, food safety compliance, export readiness, and internationally recognised certifications, including HACCP, GMP, and halal standards. While these initiatives require substantial investment, they provide the credibility and assurance required to compete within increasingly regulated and quality-conscious markets. For the company, sustainability is closely linked to operational integrity. Responsible growth means building systems that can support long-term expansion while maintaining product quality, customer trust, and business resilience. Looking ahead, BS Fitness Nutrition’s ambitions extend beyond becoming a larger manufacturer. The company is focused on establishing itself as a globally recognised Malaysian brand while strengthening its role within the broader wellness and performance nutrition industry. Future priorities include accelerating international market penetration, expanding innovation within the functional beverage category, strengthening distribution ecosystems, enhancing research and development capabilities, and leveraging automation to improve operational efficiency. Yet despite these ambitions, the company’s underlying philosophy remains unchanged. Success is not measured solely by how much a business grows, but by how well it

Lifestyle

V x Coca-Cola Zero Sugar Partners KFC For Bucket Bersama Launch

KFC Malaysia is kicking things off with exciting new menus: the all-new K-Seaweed Rice Twister, alongside Seaweed Shaker Fries now also available in our Bucket Bersama. Available for a limited time nationwide, these new items are perfect whether you’re craving something different or planning a meal to share. First up, the spotlight is on the K-Seaweed Rice Twister. Inspired by popular Korean flavours, it features two juicy chicken tenders coated with savoury seaweed flavours, paired with aromatic Colonel Chicken Rice infused with seaweed mayo, fresh cucumbers and tomatoes – all neatly wrapped in a warm, toasted tortilla. Every bite delivers layers of savoury, fragrant seaweed goodness, creating a bold and addictive combination from start to finish. Available for a limited time, it’s a fun option for those looking to try something new and flavourful. Joining the line up, Seaweed Shaker Fries add a fun and flavourful twist to the experience. Simply shake the fries with seaweed seasoning to coat them evenly and enjoy an extra burst of savoury taste in every bite. Paired together with the Bucket Bersama, which features KFC’s signature fried chicken, it creates a hearty and enjoyable spread that’s perfect for gatherings with family and friends. Adding an extra layer of excitement, KFC Malaysia is also offering fans of Korean global K-pop group the chance to own an exclusive V x Coca-Cola Zero Sugar Accordion Card through a special purchase-with-purchase (PWP) promotion with selected combos paired with Coca-Cola Zero: Bucket Bersama, K-Seaweed Rice Twister Combo and Box Meal. Priced at RM17.10, this limited-edition collectible is only available in Peninsular Malaysia while stocks last. Bringing together food and pop culture, the collaboration makes every purchase even more rewarding. Whether you’re grabbing a quick bite with the K-Seaweed Rice Twister or sharing Seaweed Shaker Fries with your loved ones, there’s something for everyone to enjoy. Available nationwide starting 4 June 2026, with prices starting from RM15.49 for the K-Seaweed Rice Twister, from RM5.99 for Seaweed Shaker Fries and for those looking to share the experience, simply feast on the Bucket Bersama from only RM44.99. Don’t miss out on these limited-time delights — head to your nearest KFC today or discover more at www.kfc.com.my and KFC Malaysia’s social media channels.  

Events

Heriot-Watt Launches NextLevel CEO Programme To Support Malaysian SMEs

Heriot-Watt University Malaysia (HWUM), in partnership with SME Corp. Malaysia, has launched the NextLevel CEO Programme, a high-impact executive development initiative designed to support Malaysian SME leaders in scaling their businesses through strategic leadership, innovation and transformation. The programme, developed under SME Corp. Malaysia’s PRESTIGE 2.0 initiative, offers a RM22,500 executive education experience, with 80% funding provided by the Malaysian Government, reducing the participant investment to RM4,500 (payment plans and bursaries are available). Designed specifically for CEOs, founders and senior decision-makers of high-growth SMEs (with Electrical & Electronics; Drone & Aerospace; Oil & Gas; Medical Devices; Biotechnology; Halal Technology & Smart Agriculture; Mobility; and Green Economy identified as priority sectors), the programme moves beyond traditional training to deliver a board-level, applied learning experience focused on real business outcomes. A Strategic Intervention for SME Leaders The NextLevel CEO Programme is structured as a 9-day, fully face-to-face executive journey, delivered over three months in four intensive blocks. Participants will step away from day-to-day operations to focus on building a clear, board-ready 5-Year Strategic Scale-Up Plan tailored to their business. The programme combines:• Strategic leadership and corporate governance• Innovation, digital transformation and AI• ESG, sustainability and future energy strategy• Business law and contracts for CEOs• Board simulation and applied case studies Participants will also benefit from targeted executive coaching, peer learning and facilitated challenge, ensuring that insights are translated into practical, actionable strategies. Addressing the Challenges of Scaling SMEs As Malaysian SMEs navigate increasing complexity from digital disruption to evolving regulatory and sustainability expectations, the need for structured, strategic leadership has never been greater. The NextLevel CEO Programme has been designed to help leaders:• Move from operational to strategic leadership• Identify and prioritise growth opportunities• Strengthen governance and decision-making• Build resilience through risk and ESG integration• Develop a clear roadmap for long-term, sustainable growth Delivered by Heriot-Watt University Heriot-Watt University brings extensive experience in executive education and SME leadership development, including its role as a delivery partner for the UK Government’s Help to Grow: Management programme, through which it has supported over 350 SME leaders. The programme will be delivered at Heriot-Watt University Malaysia’s Putrajaya campus. Head of School, Edinburgh Business School, HWUM, Dr Jimmy Tam, said, “This programme is designed to give SME leaders the space, structure and challenge they need to step back from daily operations and think strategically about growth. It’s not about theory, it’s about building a clear, actionable plan that can take their business to the next level.” The recognition reaffirms the University’s focus on equipping students with practical skills and relevant knowledge. More than 95 percent of its graduates secure employment or continue their studies within six months of graduating, highlighting strong outcomes in career readiness. Programme Details • Duration: 9 days (7–9 August, 11–13 September, 10–11 October, 7 November)• Format: Fully face-to-face in English (with translation available)• Location: Putrajaya• Programme Value: RM22,500• Government Funding: 80%• Participant Investment: RM4,500 Places are limited and subject to eligibility criteria set by SME Corp. Malaysia. Applications Now Open Applications for the NextLevel CEO Programme are now open. SME leaders interested in participating can find out more and apply:https://www.eventbrite.co.uk/e/1988753435060?aff=oddtdtcreator For more information on Heriot-Watt University Malaysia and its world-class programmes, kindly visit:https://www.hw.ac.uk/malaysia/ For any enquiries on the programme, kindly contact Louisa Osmond, Head of Executive Education, Edinburgh Business School at [email protected]

Lifestyle

Philippine Airlines To Join Oneworld Alliance

oneworld Chief Executive Officer Ole Orvér (2nd from left), Philippine Airlines Executive Vice President / Chief Operating Officer Atty. Carlos Luis Fernandez (3rd from left), PAL Holdings, Inc. President Lucio C. Tan III (4th from left), Philippine Airlines President Richard Nuttall (4th from right), Philippine Airlines Vice President – Revenue Management, Commercial Planning & Alliances Christoph Gaertner (3rd from right) and American Airlines Chief Executive Officer and Chairman of the oneworld Governing Board Robert Isom (2nd from right). (Photo courtesy of oneworld Alliance). Philippine Airlines (PAL), the Philippines’ flag carrier, is set to soar to new heights after receiving a prestigious invitation to join the oneworld® Alliance, officially announced today at the International Air Transport Association (IATA) Annual General Meeting in Rio de Janeiro, Brazil. PAL’s entry will make it the 16th member of the oneworld Alliance and only the second full member airline based in Southeast Asia – enabling access to a truly global network of nearly 1,000 destinations across over 170 countries and territories. This landmark achievement signals a powerful new chapter for both the airline and the region, highlighting the Philippines’ rising prominence as a dynamic global aviation gateway. PAL’s extensive domestic and regional network strengthens oneworld’s footprint in Southeast Asia, opening new vital links to key Philippine destinations. Beyond expanded access, the partnership will bring transformative benefits for the airline – fueling a stronger presence on the world stage, increasing passenger flows, enhancing loyalty offerings, and delivering greater efficiencies, all while elevating PAL’s brand alongside some of the world’s most renowned airlines. “This is a defining and transformative moment for Philippine Airlines,” said PAL Holdings, Inc. President Lucio C. Tan III. “Becoming a member of the oneworld Alliance and strengthening Southeast Asia’s representation within the group significantly brings the Philippines and the region closer to the world like never before. Together with our partners, we will deliver greater choice, consistent journeys, and a world-class travel experience that reflects the warmth of Filipino hospitality.” Philippine Airlines and oneworld officials during the signing ceremony announcing the airline’s entry into the alliance in Rio de Janeiro, Brazil, on June 6, 2026. From left: oneworld Chief Executive Officer Ole Orvér, American Airlines Chief Executive Officer and Chairman of the oneworld Governing Board Robert Isom, PAL Holdings, Inc. President Lucio C. Tan III, and Philippine Airlines President Richard Nuttall. “Philippine Airlines’ entry into oneworld supports our long‑term strategic growth and strengthens our connectivity across key markets in the Asia Pacific region,” said Robert Isom, American Airlines Chief Executive Officer and chairman of the oneworld Governing Board. “The airline has a proud heritage and will serve a critical role in our Southeast Asia network.” “Philippine Airlines is a globally respected carrier with a strong commitment to innovation and customer service that aligns with oneworld’s reputation for delivering a premium experience across the travel journey,” said Ole Orvér, oneworld chief executive officer. “This decision is an endorsement of oneworld, and its global customer offering. We look forward to welcoming Philippine Airlines into the alliance.” For passengers, this unlocks a smoother, more connected travel experience where every journey is enhanced by efficient transfers, ideal schedules, and privileged access to premium lounges and world-class service across the globe. The alliance currently includes the following member airlines: Alaska Airlines/Hawaiian Airlines, American Airlines, British Airways, Cathay Pacific, Fiji Airways, Finnair, Iberia, Japan Airlines, Malaysia Airlines, Oman Air, Qantas, Qatar Airways, Royal Air Maroc, Royal Jordanian, and SriLankan Airlines. PAL’s entry into oneworld Alliance unlocks expanded global benefits for its Mabuhay Miles members, including the ability to earn and redeem miles across all oneworld member airlines. As part of the oneworld network, PAL’s top-tier customers will enjoy oneworld Priority privileges, along with access to more than 700 premium airport lounges worldwide. Eligible passengers will also benefit from exclusive oneworld advantages such as access to First Class lounges and dedicated First Class check-in areas – further enhancing the seamless, elevated oneworld travel experience. With its future in oneworld, PAL is poised not only to expand its horizons, but to redefine its role as a global bridge between the Philippines and the world.

Investment & Market Trends

DXN To Invest RM140 Million In Nutraceutical Manufacturing Facility In Kedah

Attendees included Datuk Noripah Kamso, Senior Independent Non-Executive Director of DXN Holdings Bhd; Amirah Khairiah Abdul Latip, District Officer of Kubang Pasu; Dr. Haim Hilman Abdullah, Kedah State Executive Councillor; Dato’ Dr. Nadzman Mustaffa, Kedah State Financial Officer; Kedah Chief Minister Dato’ Seri Haji Muhammad Sanusi Md Nor; DXN Executive Chairman and Founder Datuk Lim Siow Jin; PKNK CEO Dato’ Haji Mohd Sahil Zabidi; Kubang Pasu Municipal Council President Junaidi Abdul Rani; DXN COO Abdul Hafiz Mahmood Hisham; CFO Lim Beng Cheng; and CTO Muhammad Luthfi Hidayat.  DXN Holdings Bhd. (“DXN” or the “Company”) , a leading global wellness company and manufacturer of nutraceutical products, broke ground on Malaysia’s largest nutraceutical manufacturing facility in Bukit Kayu Hitam, Kedah (“BKH Facility”), a RM140 million investment that cements Malaysia’s position as the anchor of DXN’s global manufacturing network and strengthens the Group’s long-term growth platform. The ceremony was officiated by YAB Dato’ Seri Haji Muhammad Sanusi bin Md Nor, Menteri Besar of Kedah, accompanied by Datuk Lim Siow Jin, Founder and Executive Chairman of DXN. Phase 1 of the development will feature approximately 300,000 square feet (“sq ft”) of built-up space across a 26.6-acre site leased from Perbadanan Kemajuan Negeri Kedah (“PKNK”). The integrated manufacturing hub will house 7 production blocks, 10 warehouse facilities and a dedicated Research and Development centre, making it DXN’s largest facility worldwide and one of Malaysia’s largest nutraceutical manufacturing complexes. Production is targeted to commence in March 2028 with 118 SKUs across Coffee, Food & Beverage and Juice categories, while future phases will support expansion into higher-value segments such as Cosmetics, Personal Care and Pharmaceuticals. The investment comes as DXN continues to experience sustained growth across its international markets. Over the past three years, the Group has delivered consistent expansion in revenue and earnings, increasing demand on its manufacturing and logistics infrastructure. The BKH Facility is designed to provide the capacity, flexibility and operational resilience required to support DXN’s next phase of global growth while ensuring that manufacturing capability remains ahead of future demand. The BKH Facility will complement and expand DXN’s existing manufacturing footprint by providing a scalable platform for production, warehousing and research, while improving operational flexibility and strengthening supply chain resilience. Beyond capacity expansion, the facility is expected to deliver efficiency gains through greater automation, integrated logistics capabilities and the consolidation of key manufacturing and warehousing functions within a single campus, positioning DXN to support growing global demand more effectively over the long term. Welcoming the investment, Menteri Besar of Kedah YAB Dato’ Seri Haji Muhammad Sanusi bin Md Nor said: “On behalf of the Kedah State Government and the people of Kedah, I congratulate DXN on this historic investment. Malaysia’s largest nutraceutical factory will be built right here in Kedah, and that is a source of great pride for our State. This RM140 million commitment creates quality employment for our people, strengthens Kedah’s position as a premier industrial destination within the Northern Corridor, and demonstrates the confidence that world-class manufacturers continue to place in Kedah as a foundation for global operations. DXN has been a trusted partner of Kedah for over 20 years. Today, that partnership enters a new and historic chapter.” Datuk Lim Siow Jin, Executive Chairman and Founder of DXN pointed to the structural resilience of the global nutraceutical and wellness industry as the foundation underpinning the investment. “DXN’s revenue has grown at a compounded annual growth rate of 15.4% over the past three years, and FY2025 delivered all-time highs in revenue, net profit and EBITDA. That growth has outpaced our existing production capacity.” “Bukit Kayu Hitam is our answer, with seven production blocks and a dedicated R&D centre, built to support the next decade of growth. More than a factory, it is a purpose-built manufacturing, logistics and innovation hub that will enable DXN to scale more efficiently, operate more effectively and serve our global markets with greater flexibility and resilience. Together with our existing facilities in Kedah, it will further reinforce Malaysia’s role as the heart of our global production ecosystem and strengthen our ability to support customers worldwide.” Datuk Lim pointed to the structural resilience of the global nutraceutical and wellness industry as the foundation underpinning the investment. “The global health and wellness market is growing at a pace that most investors have yet to fully appreciate. The ready-to-eat and functional food segment alone is projected to reach RM1.6 trillion by 2034, growing at 7.7% annually. Wellness spending per capita in Asia stands at just RM1,860 per year compared to RM23,815 in North America and RM7,410 in Europe; that convergence gap represents decades of addressable growth. DXN currently generates RM1.9 billion in annual revenue from a global market measured in the hundreds of billions. Bukit Kayu Hitam is how we ensure our production capacity is never the constraint on capturing that opportunity.” Bukit Kayu Hitam is the flagship of DXN’s Global Manufacturing Strategy, which targets 21 factories across four continents by 2028. The facility anchors a three-pillar Malaysian manufacturing ecosystem alongside the existing Jitra complex and the Gua Musang facility under development in Kelantan. Together, this integrated cluster will supply the majority of DXN’s global SKU portfolio to its consumer community of approximately 22 million registered consumers across more than 180 countries, while new regional facilities in Peru, Bolivia, Morocco, Saudi Arabia and Brazil serve their respective local markets. The RM140 million investment will be financed through external funding facilities, underpinned by the Group’s robust financial position, including a zero net debt balance sheet and a debt-to-equity ratio of approximately 0.15 times. This provides DXN with the financial flexibility to pursue strategic growth initiatives while maintaining a disciplined approach to capital allocation and long-term value creation. From Kedah to the world, the BKH Facility reflects DXN’s confidence in Malaysia as its manufacturing home base and its commitment to building a world-class production platform capable of supporting future growth across global markets. The project represents a significant milestone in DXN’s journey to strengthen its global manufacturing network and deliver

The Executives

SIRIM Appoints Nik Sazali Nik Hussin As President And Group CEO

SIRIM Bhd has appointed Nik Sazali Nik Hussin as its President and Group Chief Executive Officer (CEO), with the appointment taking effect immediately. Prior to this role, Nik Sazali had been serving as acting President and Group CEO since August 2025, according to the industrial research and technology organisation. He previously held the position of CEO of SIRIM Academy Sdn Bhd from March 2023, where he led various transformation and growth initiatives that strengthened the academy’s position as a key provider of training, consultancy and capability development services. In a statement, SIRIM said the appointment reflects its continued focus on strengthening leadership grounded in institutional experience, technical expertise and a strong understanding of the organisation’s role within Malaysia’s industrial ecosystem. Nik Sazali brings nearly three decades of leadership experience across commercial banking, higher education, management consultancy and the government-linked sector, in addition to his long-standing involvement within SIRIM. He succeeds Datuk Ahmad Sabirin Arshad, who has since joined Boustead Holdings Bhd as Group CEO, effective Aug 1, 2025.

Property

Malton Unit To Acquire Johor Bahru Land For RM97.23 Million

Malton Bhd’s wholly owned subsidiary, Bukit Rimau Development Sdn Bhd, has proposed to acquire a 1.5-hectare freehold land parcel in Johor Bahru for RM97.23 million as part of its strategy to strengthen its development pipeline and expand its land bank. In a filing with Bursa Malaysia, the property developer said its subsidiary has entered into a conditional sale and purchase agreement with Tanjung Nakhoda (M) Sdn Bhd for the acquisition of the land, which is strategically located next to the Johor Golf and Country Club and within the integrated commercial development known as W City Larkinton. Malton said the acquisition presents an opportunity to secure a prime development site in Johor Bahru, a market that has experienced increasing property development activity in recent years. The company noted that several major developers have already acquired land and launched projects within the surrounding area, reflecting growing confidence in the locality’s long-term growth prospects. Based on a preliminary assessment, the group plans to develop residential service apartments on the site and estimates that the project could generate a gross development value (GDV) of approximately RM950 million. The estimate was derived after evaluating the development potential of the land and prevailing market prices for comparable service apartment projects in the vicinity. However, Malton said the detailed development plans have yet to be finalised. Key aspects including the project’s name, number of units, total development cost, funding structure, as well as the targeted commencement and completion dates, will only be determined after obtaining the necessary approvals from the relevant authorities. The proposed acquisition forms part of the group’s ongoing land banking strategy aimed at ensuring a sustainable pipeline of future developments. Malton said the initiative is particularly important following the recent completion and handover of its Mutiara Hilltop development in Puchong, Selangor, as well as several project launches this year, including Nova Business Hub in Sungai Buloh, Mutiara Lake Puchong, Mutiara Kempas in Johor Bahru, and The Hill Residences in Seremban. The group is also preparing for the upcoming launch of its Ukay Spring development in Ampang. “With the group’s recent project completions and ongoing launches, it is crucial to undertake land banking exercises to maintain a healthy land reserve and support the long-term sustainability of our property development business,” the company said. Malton added that the acquisition would further strengthen its development land bank and provide greater flexibility to pursue future growth opportunities. The group also expressed confidence in the development potential of the Johor Bahru market, citing the strong performance of Mutiara Kempas, its first service apartment project in the city, which achieved a 70% take-up rate since its preview launch in April this year. Subject to regulatory approvals and the fulfilment of agreed conditions, the proposed acquisition is expected to be completed by the first quarter of 2027.

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