Author name: exchangemsia_admin

Philippine Airlines (PAL) is expanding its North American network with additional nonstop flights to Vancouver, Toronto and New York, providing customers with more travel options while strengthening connectivity between the Philippines, Canada, the United States and Southeast Asia. Beginning November and December 2026, PAL will:• Increase Manila–Vancouver services from 7 to 10 weekly flights effective November 17, 2026;• Increase Manila–Toronto services from 3 to 4 weekly flights effective December 5, 2026; and• Increase Manila–New York (JFK) services from 3 to 4 weekly flights effective December 2, 2026, with a fifth weekly flight during the peak December 2026–January 2027 holiday travel season. The expanded services further strengthen Philippine Airlines’ leadership in the Philippines–North America market and reinforce its position as the leading Southeast Asian carrier operating the most nonstop flights between the region and North America. “North America continues to be one of Philippine Airlines’ most important markets,” said Richard Nuttall, President of Philippine Airlines. “As travel demand grows, these additional flights strengthen our position as the preferred nonstop carrier between the Philippines and North America whilst providing our customers with greater choice, improved connectivity, and more opportunities to travel, do business, and reconnect with family and loved ones. As the Philippine flag carrier, we remain committed to supporting tourism, trade and economic ties between the Philippines and our key North American markets.” The additional North America frequencies will improve connectivity via Manila to key destinations across Southeast Asia, including Jakarta, Bali, Phnom Penh, Bangkok, Singapore, Kuala Lumpur and Hanoi. Through PAL’s partnerships with American Airlines, Alaska Airlines and WestJet, customers will also enjoy seamless onward connections to numerous destinations across the United States and Canada. The expanded schedule will likewise provide additional cargo capacity to support growing trade, e-commerce and high-value shipments between the Philippines and North America. Additional Toronto and New York services will initially be operated by the Airbus A350-900 before transitioning to PAL’s new Airbus A350-1000 as additional aircraft join the fleet. The A350-1000 will also begin serving San Francisco beginning August 2026, offering more premium seating and further strengthening PAL’s competitiveness on the U.S. West Coast. The expanded North American schedule and the commencement of 3x per week Manila to Chicago flights beginning November 9, 2026 form part of Philippine Airlines’ long-term network growth strategy, strengthening Manila’s role as a premier gateway between North America and Southeast Asia while supporting tourism, business, investment and cargo opportunities across the Pacific.

Singapore-based PK Green Fund has become a substantial shareholder of Jentayu Sustainables Bhd (JSB) after acquiring a 9.018% equity stake in the renewable energy company. In a filing with Bursa Malaysia, JSB said it received a notice dated July 1 informing the company that PK Green Fund had become a substantial shareholder in accordance with the Companies Act 2016 and Bursa Malaysia’s Main Market Listing Requirements. The fund acquired 49.1 million ordinary shares in JSB on June 30, representing approximately 9.02% of the company’s issued share capital. Prior to the acquisition, PK Green Fund did not own any shares in the company. JSB welcomed the investment, describing it as a strong vote of confidence in the group’s strategic direction and its ongoing transformation into a renewable energy-focused business. The company said the fund’s investment reflects support for the continued development of its renewable energy project pipeline, including its flagship Project Oriole. According to JSB, PK Green Fund has also expressed its intention to engage constructively with the company’s board and management on strategic, corporate governance and sustainability-related matters. The fund further indicated that it may, at a later stage, seek representation on the board, subject to the company’s nomination process, corporate governance framework and all applicable regulatory requirements. PK Green Fund is a Singapore-domiciled investment fund that focuses on environmental and social impact investments across emerging markets, with a particular emphasis on renewable energy. A separate Bursa Malaysia filing showed that the 49.1 million shares were acquired through an off-market transaction from Datin Nurhaida Abu Sahid, the spouse of group managing director Datuk Beroz Nikmal Mirdin, at a price of 20 sen per share. Following the transaction, Beroz’s deemed indirect shareholding in JSB fell to 22 million shares, or 4.041%, while his direct interest remained unchanged at 20.89 million shares, representing 3.837% of the company’s issued share capital.

Karyon Industries Bhd (KIB) is proposing to acquire a 3,587 sq m freehold industrial land parcel in Johor Baru, Johor, from Tanah Temasik Sdn Bhd for RM8.6 million. In a filing with Bursa Malaysia, the polyvinyl chloride (PVC) compound manufacturer said the acquisition is part of its long-term strategy to strengthen manufacturing operations and support future expansion plans. The company said the land is located near its existing factories and will provide additional space for the installation of new manufacturing lines, expansion of production capacity and enhancement of storage facilities. KIB added that the acquisition is expected to improve the group’s overall manufacturing footprint and support its growth plans in the coming years. Barring any unforeseen circumstances, the company expects the proposed acquisition to contribute positively to future earnings.

Unisem (M) Bhd plans to raise up to RM742 million through a private placement of up to 161.3 million new shares to fund the expansion of its semiconductor manufacturing capacity, particularly for artificial intelligence (AI) and high-performance computing (HPC) applications, while also reducing its borrowings. Trading in Unisem shares was suspended between 9am and 10am on Friday pending the announcement. In a filing with Bursa Malaysia, the semiconductor assembly and test services provider said the placement shares will be offered to local and foreign institutional investors through a book-building exercise. Based on an illustrative issue price of RM4.60 per share, the proposed private placement is expected to generate gross proceeds of approximately RM742 million. Of the total proceeds, RM444.5 million will be allocated for capital expenditure, including the purchase of assembly, test and wafer bumping equipment, as well as the establishment of cleanroom facilities to support future production growth. Meanwhile, RM269.9 million will be used to repay existing borrowings, RM22.9 million will be set aside for working capital requirements, while the remaining RM4.6 million will be utilised to cover expenses related to the fundraising exercise. Unisem said the fundraising follows significant investments in its new manufacturing facility in Gopeng, Perak, and the Phase 3 expansion of its Chengdu operations in China, both of which were partly financed through debt. The company said the additional capital will support its next phase of expansion by increasing production capacity to meet rising global demand for semiconductor solutions used in AI and high-performance computing, while also enhancing operational efficiency and lowering financing costs. Although the group had cash and bank balances of approximately RM258.9 million as at March 31, 2026, Unisem said the private placement would strengthen its financial flexibility without significantly depleting its cash reserves. “The proposed private placement will enable the group to preserve its existing cash for operational requirements and working capital while remaining well-positioned to pursue future expansion opportunities as they arise,” the company said. It added that the exercise reflects its commitment to maintaining prudent financial management, operational resilience and long-term sustainable growth amid the evolving global semiconductor landscape. The private placement is also expected to improve the company’s public shareholding spread to approximately 31.84% from 25.02%, while enhancing the liquidity of its shares. The exercise will be carried out under the company’s existing general mandate approved by shareholders at its annual general meeting on April 28, 2026, and will not require further shareholder approval. Subject to regulatory approvals and the successful placement of all shares in a single tranche, the fundraising exercise is expected to be completed by the third quarter of calendar year 2026.