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Energy & Technology

AI-Powered Marcomms Tool For Indonesia’s MSMEs Launched By Alpha Story

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Singapore-based Alpha Story has introduced a marketing communications (marcomms) solution in Indonesia aimed at micro, small and medium enterprises (MSMEs), as it looks to broaden access to professional communications services for smaller businesses. Chief executive officer Jeremy Foo said the initiative leverages artificial intelligence (AI), streamlined processes and a more affordable pricing model to help MSMEs strengthen their storytelling and compete more effectively. “Indonesia’s MSMEs are the foundation of the economy. Yet professional public relations and strategic communications have long been positioned as services reserved for larger companies,” he said in a statement. Alpha Story noted that MSMEs make up around 99 per cent of all businesses in Indonesia and contribute 60.5 per cent of the country’s gross domestic product, underscoring their role as the backbone of the economy. Foo said the scale of Indonesia’s MSME sector presents a major opportunity to expand access to communications strategy, media engagement, search visibility and brand intelligence tools in a rapidly digitalising market. He added that AI and more efficient workflows can help democratise access to communications services while enabling smaller businesses to build credibility, enhance visibility and compete more effectively. The company said its Indonesia offering provides a more cost-efficient entry point into professional communications services, including press release development, brand positioning, media outreach, campaign reporting, and guaranteed media placements in Indonesian outlets. It is designed to support MSMEs, startups, founder-led businesses and growth-stage companies with access to public relations services without requiring long-term retainers or heavy upfront commitments. Alpha Story has also established a presence in Central Jakarta and operates as an affiliate of Indonesian outdoor advertising firm 8Infini. As part of its expansion, the company has launched Alpha Echo, an AI-driven brand intelligence platform that helps businesses assess brand perception, competitive positioning and visibility across search, social media and AI-based discovery platforms. Alpha Echo analyses data from media coverage, social channels, industry trends and brand assets to provide insights that support communications strategy, including PR narratives, thought leadership, content development, SEO and answer engine optimisation. Alpha Story Indonesia country lead Leighton Cosseboom said many MSMEs struggle not due to weak products or leadership, but due to lack of visibility. “They are often under-discovered and under-explained. They need to be found, understood and trusted. Alpha Story Indonesia is built to close that visibility gap,” he said. The company said it has worked with more than 2,000 clients across Singapore, Malaysia and Indonesia across sectors including consumer goods, automotive, technology, lifestyle, hospitality, finance and enterprise. Its regional client list includes Audi, Volkswagen, Agoda, University of Reading, Vietjet, UOL Group, AXS, SEMICON Southeast Asia, Nihon M&A Center, SEAX Global and Razorpay. Alpha Story said its expansion into Indonesia reflects a broader shift in the communications industry, where growth is increasingly driven not only by large enterprises, but also by MSMEs seeking more accessible, data-driven and measurable ways to build trust and compete.

Property

BDB Land To Develop RM41.5 Million Commercial Hub In Jitra

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BDB Land Sdn Bhd (BDB Land), a wholly owned subsidiary of Bina Darulaman Bhd (BDB), is developing the Darulaman Commercial District (DCD), a new commercial centre with a gross development value (GDV) of RM41.5 million in Bandar Darulaman, Jitra. BDB group chief executive officer Che Abdul Khalid Md Din said the project spans 5.01 acres (2.02 hectares) and comprises 45 units of two- and three-storey shop offices, alongside a new BDB Land corporate office building. He said the development will function as a business hub and lifestyle destination serving the surrounding community. The project is strategically located next to the North-South Expressway (PLUS) and close to Darulaman Golf & Country Club (DGCC), Tasik Darulaman Park, and Fantasia Aquapark, all of which are BDB-owned assets, offering strong accessibility and potential economic spillover effects. “This strategic location will enhance the area’s economic connectivity by integrating residential, commercial, recreational, and tourism components into a complementary ecosystem, supporting Bandar Darulaman’s position as a key growth centre in the northern region,” he said in a statement. He added that the development is part of the group’s broader efforts to strengthen the property ecosystem within the 2,200-acre Bandar Darulaman township, which currently comprises more than 5,000 residential units and various mixed-development components. “This initiative also supports BDB’s long-term strategy to enhance the overall value of the township. DCD is designed to provide a more organised and modern business environment that meets the current and future needs of the business community and stimulates activity in retail, services, and entrepreneurship,” he said. He noted that preliminary works have already begun, including site clearing and land preparation ahead of the next construction phase. Che Abdul Khalid said BDB Land remains committed to ensuring that every development delivers long-term value to property owners and enhances community well-being in Bandar Darulaman, in line with the ESG principles upheld by the group. “Each development is not solely focused on physical infrastructure but also on social and governance aspects through more liveable urban planning that supports sustainable economic growth. This approach forms the foundation for a more organised, balanced, and high-quality environment for future generations,” he said. The project is now open for bookings. For more information, contact BDB Land at 04-919 9080 or 013-496 4288.

The Executives

Kumiko Minowa Appointed As CCH Tagetik Head Of APAC, Japan

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Wolters Kluwer, a global leader in information solutions, software, and services for professionals, has announced the appointment of Kumiko Minowa as Head of Asia Pacific and Japan for CCH Tagetik. According to a statement, Minowa’s appointment expands her leadership responsibilities across the region, where she will lead regional strategy and execution for CCH Tagetik, building on the momentum established in Japan and supporting continued growth across Asia Pacific (APAC). Kumiko Minowa as Head of Asia Pacific and Japan for CCH Tagetik. CCH Tagetik Executive Vice President and General Manager Atul Dubey said Minowa has successfully scaled the business in Japan and built strong relationships with customers and partners. “Her understanding of regional market dynamics positions her well to lead our next phase of growth across APAC,” said Dubey. Meanwhile, Minowa said she is honoured to take on the expanded responsibility across APAC and looks forward to working closely with teams, customers, and partners to support their priorities. In her expanded role, Minowa will help finance teams strengthen performance management and improve operational efficiency and visibility across planning, consolidation, environmental, social and governance (ESG), as well as regulatory requirements. Based in Singapore, she will also work closely with regional teams to align global strategy with regional business execution and oversee CCH Tagetik’s operations across APAC and Japan, spanning ASEAN, India, Greater China (China, Hong Kong and Taiwan), Australia and New Zealand, the Middle East, and South Korea. Minowa most recently served as Japan Managing Director for CCH Tagetik, where she leveraged her extensive experience in enterprise performance management to expand adoption, particularly among leading global enterprises, and strengthen relationships with customers and partners. Wolters Kluwer’s CCH Tagetik Intelligent Platform is a unified finance platform that delivers artificial intelligence-powered insights across group performance management, business planning, financial close and consolidation, ESG, tax, and regulatory compliance.

ESG

China’s €11 Billion Wood And Rubber Trade Faces Traceability Pressure

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Global trade in forest-risk commodities is entering a new era, defined not by scale alone, but by the ability to prove origin through verifiable supply chain traceability. For China, the world’s largest processor and exporter of wood and rubber-derived goods, the implications are immediate and structural. China exports over €7.1 billion in wood-based goods and €4.01 billion in rubber products to the European Union each year, placing the country at the heart of one of the world’s most scrutinized deforestation-linked supply chains (Fern, 2026). With approximately 30–35% of global wooden door and window production, China’s industrial scale is unmatched (MDPI, 2025). Under the EU Deforestation Regulation (EUDR), these combined flows, worth over €11 billion annually, now require full traceability to the plot of origin, proof of legal sourcing, and deforestation-free verification. Compliance is no longer about documentation but more about verifiable data. Yet most supply chains operating through China are not built for this level of transparency. The challenge is not conceptual but rather operational. Fragmented sourcing networks, multiple intermediaries, and sourcing from thousands of smallholder producers have created data environments that are inconsistent, incomplete, and disconnected from downstream enterprise systems. The result is a systemic readiness gap: companies understand the requirement but lack the operational capability to meet it at scale. The scale of the problem varies by commodity but follows a consistent pattern. In rubber, maintaining supply chain traceability is complicated by supply networks where commodity ownership changes multiple times before processing. In timber, tightening legality requirements expose the limits of documentation that cannot be standardized across jurisdictions, increasing the need for legality compliance. Across agricultural commodities, visibility into farm-level practices remains uneven, constraining the ability to verify upstream conditions with the precision now required by regulators and buyers alike. Implementation barriers compound this structural challenge. High costs, the absence of unified market standards, and limited technical capacity continue to constrain adoption, particularly among smallholder producers, who represent the majority of upstream suppliers. Research on agricultural technology adoption underscores that rollout depends not just on the availability of tools but on knowledge transfer, capacity building, and sustained extension support (Frontiers, 2025). Regulatory pressure is also accelerating from both sides. The EUDR requires end-to-end traceability from production plots to the point of EU market entry. In parallel, China’s General Administration of Customs has introduced tighter procedural requirements for the declaration and management of overseas enterprises engaged in agricultural exports, thereby strengthening traceability, quarantine supervision, and customs clearance efficiency in line with international phytosanitary standards (China Briefing, 2025). Companies operating in China’s export ecosystem now face a dual compliance architecture: stringent import regulations in destination markets and China’s evolving governance frameworks on digital traceability and food safety. With the EUDR’s enforcement deadline set for 30 December 2026 for large operators, the window for companies to build compliant traceability systems is narrowing faster than many supply chain teams have anticipated. “Across APAC, buyers are no longer accepting supplier declarations at face value. They want origin data that can withstand audit. For China’s exporters, traceability is becoming a commercial filter: those who can prove deforestation-free sourcing will protect key accounts; those who cannot risk being left off supplier shortlists,” says Olivier Barents, Senior Head of Markets APAC, KOLTIVA. What is emerging from this shift is a fundamental reframing: traceability is no longer a sustainability reporting layer. It is becoming core infrastructure and a foundational capability that shapes how materials are sourced, how risks are assessed, and how companies compete in regulated markets. Companies that invest in it are repositioning. Greater visibility enables stronger sourcing relationships. Procurement becomes more informed and less reactive. And the ability to provide verifiable data builds the kind of trust that international buyers increasingly expect as a baseline, not a bonus. “Today, traceability is directly linked to market access. China’s companies need to demonstrate the origin of their products with credible, auditable data. The biggest challenge we see is not the availability of technology, but implementation at scale as many supply chains remain fragmented at the origin level. Traceability platforms such as KoltiTrace helps bridge that gap by enabling field data collection, supplier mapping, and transaction tracking in one system, so traceability becomes a strategic advantage, not just a compliance requirement,” states Liu Wenjing, Customer Success Representative, KOLTIVA China. The risks are already materializing. EU importers sourcing wood- and rubber-derived goods from China are increasingly pre-screening suppliers ahead of enforcement, quietly deprioritizing non-compliant supply chains in procurement decisions before any formal regulatory action takes place. For Chinese exporters, the practical consequence is not a distant compliance deadline but the loss of buyer relationships happening now, as EUDR compliance becomes part of supplier pre-screening. The trajectory is clear. Export-oriented companies are already encountering this shift in practice, with buyers in regulated markets demanding geolocation data, risk assessments, and verifiable evidence of deforestation-free sourcing that goes well beyond traditional supplier disclosures. The inability to provide such data is no longer merely a compliance gap; it is a commercial risk with direct consequences for market access, procurement relationships, and long-term competitiveness. For private-sector actors, the immediate priority is a supply chain readiness assessment that maps where traceability data exists, where it breaks down, and which supplier tiers carry the greatest exposure before the enforcement window closes. For government agencies, the opportunity lies in aligning national customs and agricultural governance frameworks with EUDR audit requirements and in accelerating smallholder onboarding programs that make compliance operationally viable at origin. The defining question for the sector is no longer whether transformation is needed, but whether companies and policymakers can move fast enough to secure their position in an increasingly traceable world.

Energy & Technology

Sarvam Secures $234 Million In First Close Of Series B Funding Round

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Sarvam, India’s full-stack sovereign AI company, has raised US$234 million in the first close of its US$300 million Series B funding round, achieving a post-money valuation of US$1.5 billion. HCLTech and Bessemer Venture Partners participated in the round, alongside existing investors Khosla Ventures and Peak XV Partners. Sarvam operates across the AI stack, covering training and inference infrastructure, frontier model research, and go-to-market initiatives spanning enterprises, developers and government agencies. The fresh capital will support research into its next frontier model focused on agentic AI, coding and cybersecurity applications, as well as expand access to computing resources to accelerate deployments across key sectors. “We are clear that research-led innovation to create AI that works at India’s scale is a very large opportunity. That means models that understand our voices, read our documents, and serve intelligence at a cost every enterprise and government can afford. Building on this template, we are innovating on a full-stack offering for enterprises to own and operate their own sovereign AI,” said Sarvam Co-Founder Pratyush Kumar. HCLTech is investing US$150 million as the lead strategic investor in the round. The company said its enterprise transformation capabilities, global client base, proprietary software assets and engineering expertise will help accelerate Sarvam’s efforts to build an end-to-end sovereign AI ecosystem for India and beyond. HCLTech CEO and Managing Director C Vijayakumar said the investment marks an important step in strengthening India’s AI ecosystem. “By bringing together Sarvam’s research in AI models with HCLTech’s global presence, we are creating a differentiated full-stack AI platform for enterprises and governments, strengthening our ability to deliver secure, scalable and responsible AI solutions,” he said. Sarvam has recently introduced several foundational AI models developed entirely in India. These include Sarvam 105B, which the company said performs on par with or better than larger reasoning models in knowledge, reasoning and agentic benchmarks, and Sarvam 30B, designed to run efficiently on consumer-grade hardware. The company also developed Sarvam Vision, which specialises in handwriting recognition and Indian-language records, and is currently being used to digitise more than 35 million pages of documents, ranging from insurance forms to historical land records. Meanwhile, its speech models process over 500,000 hours of audio recordings each month. Sarvam’s products are seeing increasing adoption in sectors such as banking, insurance, government technology and defence. Its conversational platform currently handles more than two million interactions daily, with usage doubling over the past two months. Its agentic platform is also expanding, with a major fintech company using a sales enablement solution to support a workforce of 350,000 personnel. Sarvam’s inference platform serves developers in India and processes approximately 10 million API calls per day, with usage tripling in the last three months. The company said its deployments are also creating impact at scale. Through multilingual voice agents, Sarvam helped collect data from 17 million farmers, providing insights to India’s Ministry of Agriculture and Farmers’ Welfare. For one of India’s leading insurance providers, Sarvam supported a nationwide voice campaign to facilitate low-cost policy renewals for 45 million policyholders. “Our ambition is to diffuse this technology widely in India, creating significant value across sectors for citizens, small businesses, enterprises, and state and central governments. We are positioned to both help them adopt and innovate on AI. The partnership with HCLTech provides a unique example of an Indian corporate helping build foundational strength in AI,” said Sarvam Co-Founder Vivek Raghavan. Bessemer Venture Partners Partner Pankaj Mitra said Sarvam is building India’s sovereign AI platform to serve its population, mission-critical sectors and large enterprises. “Pratyush and Vivek have brought together the rare combination of research depth, engineering talent and institutional trust to meet India’s voice and agentic needs, and we are proud to partner with them,” he said.

ESG, Events

National Climate Governance Summit 2026 Set For Kuala Lumpur This August

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The National Climate Governance Summit (NCGS) 2026 will be held from 3 to 7 August 2026 at Sasana Kijang, Kuala Lumpur, bringing together policymakers, corporate leaders, financial institutions and sustainability practitioners to address pressing climate challenges and strengthen governance frameworks for a low-carbon future. Held under the theme “Resilience in a Hothouse World,” the five-day summit aims to examine how organisations can move beyond climate commitments and translate net-zero ambitions into credible governance structures, operational accountability and long-term adaptation strategies amid growing climate volatility across Southeast Asia. The programme will feature plenary sessions, panel discussions and technical masterclasses focusing on biodiversity conservation, renewable energy expansion, carbon taxation frameworks and regional climate resilience policies. NCGS 2026 will welcome participation from leading organisations, including the World Bank, WWF Malaysia and the Tropical Rainforest Conservation & Research Centre (TRCRC), offering delegates insights into emerging sustainability trends, policy developments and practical pathways towards climate resilience. The summit will be conducted in a hybrid format, with plenary sessions on the first two days accessible virtually via the Whova platform, allowing broader participation from regional and international stakeholders. As climate-related risks increasingly influence business strategies and investment decisions, NCGS 2026 seeks to foster collaboration among governments, businesses and civil society to accelerate sustainable development and strengthen resilience across industries. Event Details Date: 3–7 August 2026Venue: Sasana Kijang, Kuala LumpurFormat: Physical event with hybrid access for Day One and Day Two plenary sessions via WhovaTheme: Resilience in a Hothouse World Professionals, policymakers, business leaders and sustainability practitioners interested in advancing climate governance and resilience strategies are encouraged to participate. For registration details and further information, please contact the organisers or visit the official NCGS 2026 website. Register for NCGS 2026 Industry leaders, policymakers, sustainability professionals and organisations seeking to strengthen their climate governance strategies are encouraged to participate in NCGS 2026. To register or learn more about the programme, speakers and partnership opportunities, visit the official NCGS 2026 website at https://www.cgmalaysia.com/ncgs-2026 or contact the organising team for further information. Early registration is recommended as seats for selected masterclasses and networking sessions are limited.

Property

S P Setia Breaks Ground On Setia Fontaines Industrial Park

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S P Setia Berhad (“Setia” or “the Group”) today broke ground on its 509-acre Setia Fontaines Industrial Park in Bertam, Kepala Batas, marking a major milestone in the Group’s growth strategy and reinforcing Penang’s position as a future-ready investment destination. The ceremony was graced by Prime Minister Datuk Seri Anwar Ibrahim and Penang Chief Minister Chow Kon Yeow. Groundbreaking Ceremony for Setia Fontaines Industrial Park S P Setia broke ground on the 509-acre Setia Fontaines Industrial Park in Bertam, Penang on 20 June 2026. The event was witnessed by Dato’ Seri Utama Anwar Ibrahim, Prime Minister of Malaysia, and Chow Kon Yeow, Chief Minister of Penang. From left: 1. Dato’ Dr Mohamad Abdul Hamid, Deputy Chief Minister I of Penang 2. Chow Kon Yeow, Chief Minister of Penang 3. Dato’ Seri Utama Anwar Ibrahim, Prime Minister of Malaysia 4. Datuk Ir. Khairil Anwar Ahmad, Senior Independent Non-Executive Director, S P Setia Bhd 5. Datuk Zaini Yusoff, President and Chief Executive Officer, S P Setia Bhd. The event also witnessed the exchange of a Memorandum of Collaboration (MoC) between Setia Fontaines and the Northern Corridor Implementation Authority (NCIA) to explore the supply of green energy to the park, enhancing its appeal as a sustainability-led destination for businesses and investors. Part of the 1,691-acre freehold Setia Fontaines township, the industrial park offers light industrial, medium industrial and commercial lots catering to a broad range of occupiers, from small and medium enterprises (SMEs) to larger corporations. The development enjoys strong connectivity to Penang Island, Bukit Mertajam, Seberang Jaya and Kulim, with direct access to the North-South Expressway. Datuk Zaini Yusoff, President and Chief Executive Officer of S P Setia, said, “The groundbreaking of Setia Fontaines Industrial Park is a landmark moment for S P Setia and a strong signal of our confidence in Penang’s future. More than an industrial development, it reflects our vision to build a next-generation economic hub with world-class infrastructure for advanced manufacturing, digital infrastructure and high-technology industries in the Northern Region. “More importantly, this development reflects Setia’s capacity to translate national aspirations into tangible outcomes on the ground. In advancing the aspirations of Ekonomi MADANI, Setia Fontaines Industrial Park is designed to support innovation-led growth, strengthen industrial competitiveness and create broader economic participation across the value chain. From SMEs to multinational corporations, this development opens up meaningful opportunities for businesses to grow within a sustainable, future-ready ecosystem, underscoring Setia’s commitment to shaping progress that is both high-value and inclusive,” he added. Ready Supply of Green Electricity Under the MoC, Setia Fontaines and NCIA will explore a Corporate Renewable Energy Supply Scheme (CRESS), enabling Setia Fontaines Industrial Park and its tenants to access green electricity via the national grid from regional renewable energy developers. The collaboration highlights the role of public-private partnerships in advancing sustainable industrial development, supporting Malaysia’s low-carbon ambitions and strengthening Penang’s attractiveness to high-value investors. Exchange of Memorandum of Collaboration (MoC) Between NCIA and Setia Fontaines Sdn Bhd   Datuk Zaini Yusoff, President and Chief Executive Officer of S P Setia Bhd (right), and Dato’ Mohamad Haris Kader Sultan, Chief Executive of the Northern Corridor Implementation Authority (NCIA), exchange a Memorandum of Collaboration (MoC) between NCIA and Setia Fontaines Sdn Bhd. Datuk Zaini said, “Demand across our industrial developments is increasingly shaped by occupiers’ sustainability requirements. This collaboration reflects Setia’s commitment to integrating sustainability into our industrial strategy while enhancing long-term competitiveness and value creation.” NCIA Chief Executive Datuk Mohamad Haris Kader Sultan said, “The Special Renewable Energy Economy Zone (SREEZ) under the Northern Corridor Economic Region (NCER) is a demand-driven ecosystem that integrates renewable energy supply with committed industrial offtake to support bankable green investments. “Our collaboration with S P Setia positions Setia Fontaines Industrial Park as an anchor green consumer, strengthening demand certainty and project viability. This enhances NCER’s attractiveness as a hub for sustainable industrial growth and supports the attraction of investments requiring low-carbon energy solutions,” he said. Pipeline of 640 Affordable Homes Setia Fontaines and the Penang State Housing Board (LPNPP) also exchanged Memorandum of Agreement (MoA) documents for Pangsapuri Pinang Setia, comprising 640 affordable homes targeted for completion in 2029. Each 650 sq ft unit will feature three bedrooms and two bathrooms, and will be priced at RM42,000. Pangsapuri Pinang Setia reflects Setia’s commitment to delivering sustainable communities and enriching lifestyles to more families across its townships. Residents will benefit from the wider Setia Fontaines ecosystem, including 37 acres of central parks and 63 acres of manmade lakes. The affordable homes will also enjoy proximity to educational institutions such as Pusat Kanser Tun Abdullah Ahmad Badawi Universiti Sains Malaysia (USM), Universiti Teknologi MARA (UiTM), Maktab Rendah Sains Mara (MRSM) and Kolej Matrikulasi Pulau Pinang. Expected to reach a population of 30,000 by 2041, Setia Fontaines aims to set a new benchmark for integrated development in northern Penang. The Prime Minister toured the township’s 100-acre Heritage Park, which features the largest Musical Fountain in Northern Malaysia, interconnected islands with jogging and cycling tracks, and a Waterfront Lifestyle Centre. Envisioned to drive socio-economic growth and create employment opportunities, Setia Fontaines is expected to contribute towards both state and national aspirations of positioning Penang as a hub for investment and sustainable development. With more than 50 years of experience in delivering quality developments, Setia remains committed to its purpose of building sustainable communities with enriching lifestyles through sustainable homes and expansive green spaces across its townships.

Investment & Market Trends

Japanese Parent To Take Ajinomoto Malaysia Private At RM20 A Share

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Japan’s Ajinomoto Co Inc will take its Malaysia-listed unit private at RM20 per share, representing a 31.6% premium over its last traded price of RM15.20. In a Bursa Malaysia filing, Ajinomoto (Malaysia) Bhd (KL:AJI) said the privatisation exercise, valued at RM603.4 million, will be carried out via a selective capital repayment. As at March 31, Ajinomoto Malaysia held cash of RM74 million, equivalent to about RM1.23 per share. Based on a preliminary estimate, the Japanese parent is expected to inject more than RM500 million to fund the transaction. The company said the exercise will be funded through its excess funds, with the remaining portion to be financed by the parent company. However, no detailed breakdown was disclosed. The board of Ajinomoto Malaysia, excluding conflicted directors, will deliberate on the proposal and determine the next course of action. If completed, Ajinomoto Co does not intend to maintain the listing of Ajinomoto Malaysia, which is primarily involved in food seasonings, including monosodium glutamate (MSG). Ajinomoto Co currently holds a 50.38% stake, or 30.63 million shares, in the Malaysian unit. The privatisation will involve acquiring the remaining 30.17 million shares, or 49.62% interest, via a selective capital reduction and repayment exercise. Under the proposal, the group will pay RM603.4 million in total at RM20 per share to cancel the minority shareholding. As at June 22, Ajinomoto Malaysia had an issued share capital of RM65.1 million comprising 60.8 million shares. As at end-March, the group had RM74.24 million in cash and bank balances and about RM273.5 million in liquid investments. Retained earnings stood at around RM805 million, against total equity of RM867.6 million. It has no material borrowings aside from lease liabilities of about RM5.16 million. To facilitate the transaction, Ajinomoto Malaysia will first issue 571.1 million bonus shares, as the proposed repayment exceeds its existing share capital. However, these shares will not be credited to shareholders or listed. The subsequent capital reduction will see all minority-held shares, along with the bonus shares, cancelled. Ajinomoto Co said the offer provides shareholders an attractive exit opportunity given the company’s historically low trading liquidity, with average daily volume accounting for just about 0.13% of its free float. It added that Ajinomoto Malaysia has derived limited benefit from its listing status, as it has not raised funds from the capital market for over a decade while still incurring listing-related costs. The proposal requires approval from at least 75% of votes cast by independent shareholders, with dissenting votes not exceeding 10%, along with other regulatory approvals. Trading in the stock will resume at 9am on Tuesday.

Investment & Market Trends

Malaysia Airlines, Singapore Airlines To Introduce Joint Fares For KL–Singapore Route

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Malaysia Airlines and Singapore Airlines will introduce new joint fare products for travel between Kuala Lumpur and Singapore as part of an expanded partnership. The new offerings build on their existing codeshare arrangement and aim to provide travellers with more fare options between the two capital cities, while enhancing connectivity across both carriers’ wider networks, according to a joint statement. Both airlines are also working towards introducing additional customer benefits in phases, including reciprocal lounge access, coordinated flight schedules and joint corporate travel arrangements. No further details on the fare products were disclosed. “This joint business partnership with Singapore Airlines marks a significant milestone in the expansion of our commercial collaboration,” said Bryan Foong Chee Yeong, head of airline business at Malaysian Aviation Group Bhd, the parent company of Malaysia Airlines. Singapore Airlines chief commercial officer Lee Lik Hsin said the new fare products would broaden travel options for passengers flying between Singapore and Kuala Lumpur. Malaysia Airlines and Singapore Airlines have been strengthening cooperation since signing a commercial framework agreement in October 2019. Both national carriers currently maintain codeshare agreements across routes in Malaysia, Singapore, Europe and South Africa. In February 2024, they also introduced reciprocal mileage accrual and redemption between Malaysia Airlines’ Enrich programme and Singapore Airlines’ KrisFlyer programme, allowing members to earn and redeem points on selected flights operated by either airline.

Property

Propel Global Unveils First RM64m Commercial Project In Kuantan

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Propel Global Bhd is expanding into property development with the launch of a commercial project in Kuantan carrying an estimated gross development value (GDV) of RM64 million. The project, named Riverpoint, marks the group’s maiden venture into commercial property development and is part of its broader strategy to diversify beyond its core oil and gas and engineering-related businesses, the company said in a statement on Monday. Developed by its wholly owned subsidiary Propel Global Development Sdn Bhd, Riverpoint comprises 31 units of three-storey freehold shoplots located along Jalan Tanah Putih, next to the “Welcome to Kuantan” arch. “We aim to establish Riverpoint as a landmark commercial destination and a catalyst for the area’s continued commercial growth, while generating sustainable value for shareholders, business partners and the wider community,” said group chief executive officer Angeline Lee. The move into property comes as Propel Global continues to face an uneven earnings performance. The group slipped into the red for the financial year ended June 30, 2025 (FY2025), posting a net loss of RM22.79 million on revenue of RM111.48 million. For the first nine months of FY2026 ended March 31, it recorded a net loss of RM17.44 million on revenue of RM56.98 million. Prior to FY2025, the company was profitable in FY2023 and FY2024, after recording nine consecutive years of losses from FY2014 to FY2022. Its balance sheet remains geared, with cash and bank balances of RM14.01 million as at March 31, 2026, against short-term borrowings of RM9.06 million and long-term debt of RM24.99 million, resulting in a net debt position. Propel Global is primarily involved in oil and gas services, including pipe recovery and well intervention, as well as building technical services covering engineering, construction, project management and maintenance for commercial and industrial facilities. The group has also indicated plans to venture into sustainable development and digital technology as part of its longer-term shift towards a lower-carbon business model. Shares in Propel Global closed 0.5 sen or 8.3% higher at 6.5 sen on Monday, valuing the company at about RM54 million. The stock has declined 27.8% over the past year.

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