Investment & Market Trends

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.

The Malaysian Palm Oil Board (MPOB) expects crude palm oil (CPO) prices to remain strong at between RM4,000 and RM4,300 per tonne this year, supported by higher global petroleum prices. Its director-general Datuk Dr Ahmad Parveez Ghulam Kadir said palm oil prices are expected to stay firm, driven by movements in global oil markets following tensions in the Strait of Hormuz. “Looking at the current situation, palm oil prices have remained strong, and for this year we are targeting an average price of between RM4,000 and RM4,300 per tonne,” he said at a press conference after the MPOB 2026 Palm Oil Technology Transfer (TOT) Programme. He explained that disruptions in the Strait of Hormuz have affected global petroleum supply, which has in turn lifted prices of palm oil and other vegetable oils due to their close price relationship. On supply conditions, Ahmad Parveez said the industry is also facing potential production constraints due to the lingering effects of the El Niño phenomenon, which has impacted oil palm pollination. “We are monitoring the potential post-El Niño effects, which bring hotter weather and lower rainfall,” he said. “The impact is not immediate, but it affects pollination activities carried out by oil palm weevils. Hotter conditions reduce insect activity, leading to lower pollination rates and ultimately reduced oil yields.” On the European Union Deforestation Regulation (EUDR), he said more than 80% of smallholders in Peninsular Malaysia are already prepared to comply with the requirements. He added that MPOB is targeting 90% to 95% of eligible smallholders with valid licences and clear land ownership to be included in its compliance system before the regulation takes effect for smallholders in the middle of next year. “Once incorporated into the system, their palm oil will be able to enter the European Union market without compliance issues,” he said.

Public Mutual, a wholly-owned subsidiary of Public Bank Bhd, has declared total distributions amounting to more than RM96 million for five of its funds for the financial year ended June 30, 2026. In a statement, the unit trust manager said the distributions reflect the performance of its fixed income and income-focused funds over the period under review. Among the funds, the PB Islamic Bond Fund led with a gross distribution of 5.50 sen per unit. This was followed by the PB Infrastructure Bond Fund at 5.00 sen per unit, and the PB Fixed Income Fund at 4.50 sen per unit. Meanwhile, the Public Institutional Bond Fund declared a distribution of 0.90 sen per unit, while the Public Islamic Savings Fund recorded a payout of 0.10 sen per unit. Public Mutual noted that the PB Islamic Bond Fund, PB Infrastructure Bond Fund, PB Fixed Income Fund, and Public Institutional Bond Fund follow an annual distribution policy. In contrast, the Public Islamic Savings Fund distributes income on a semi-annual basis, providing investors with more frequent payout cycles. The group said the latest distributions underscore its continued focus on delivering consistent returns through a diversified range of fixed income and savings-oriented investment solutions, catering to both retail and institutional investors. Public Mutual currently manages more than 180 unit trust funds across various asset classes and investment strategies. It is also an approved Private Retirement Scheme (PRS) provider, managing nine PRS funds nationwide, further strengthening its position as one of Malaysia’s largest private unit trust managers.

TNG Digital Sdn Bhd, the operator of the TNG eWallet, has launched its first Islamic financing product, ASB Financing, in collaboration with CIMB. In a statement, the company said the new offering allows users to invest in Amanah Saham Bumiputera (ASB) through a more seamless and integrated financing experience within the TNG eWallet ecosystem. Instead of requiring a large upfront payment, users can now participate in ASB investments through structured monthly repayment commitments. TNG Digital said the initiative is aimed at improving accessibility to wealth-building tools, particularly for users who may prefer a more flexible approach to long-term investing. According to the company, Bumiputera users currently account for 70% of TNG eWallet’s Amanah Saham Nasional Bhd (ASNB) investor base, contributing 52% of total investment value on the platform. This reflects strong demand for simplified and digitally enabled investment solutions within the segment. TNG Digital chief financial services officer Desmond Teoh said the launch marks an important milestone in expanding the range of financial services available under the platform’s GOfinance feature. “The strong adoption of ASNB investments on our platform clearly reflects growing interest in accessible and digitally connected wealth-building solutions among Malaysians,” he said. Since integrating ASNB services in 2023, TNG Digital said the TNG eWallet has continued to record steady growth in its digital investment offerings, with active investment users rising by 44% year-on-year as of May 2026. The ASB Financing product offers financing ranging from RM10,000 to RM200,000, with flexible repayment tenures of between five and 40 years. This allows users to select financing plans tailored to their financial goals and repayment capacity. TNG Digital said the collaboration with CIMB further strengthens its position in the digital financial services space, as it continues to expand its ecosystem beyond payments into investment and wealth management solutions.

Pekat Group Bhd, an ACE Market-listed solar company, is planning to transfer its listing to Bursa Malaysia’s Main Market. In a filing on Thursday, the company said it has met the key requirements for the move, including a strong profit track record, solid financial position, and positive net cash from operating activities. Pekat said the proposed transfer is expected to strengthen its credibility, reputation, and visibility among investors, particularly institutional investors, while reflecting the group’s growth and profitability since its ACE Market listing. Under Bursa Malaysia requirements, companies seeking a Main Market transfer must record at least RM30 million in aggregate net profit over the past three financial years, including a minimum of RM15 million in the most recent year. Pekat reported an aggregate net profit of RM80.78 million for FY2023 to FY2025, with FY2025 net profit alone at RM45.05 million. The company also confirmed it has met the requirement for a healthy financial position, with no accumulated losses and retained earnings of RM153.91 million as at end-December 2025. It added that it has maintained positive operating cash flow over the past three years and sufficient working capital for at least 12 months. As at end-December 2025, Pekat held cash and bank balances of RM87.62 million, alongside unutilised banking facilities of up to RM172.77 million. The proposed transfer is subject to approval from the Securities Commission Malaysia and Bursa Malaysia, and is expected to be completed by the fourth quarter of the year. Public Investment Bank Bhd is acting as the principal adviser for the exercise. Pekat was listed on the ACE Market in June 2021. Shares in the company closed six sen or 3.66% lower at RM1.58 on Thursday, valuing the group at RM1.12 billion.

Apple has raised prices of its iPad and MacBook lineup, saying it can no longer absorb rapidly rising memory and storage chip costs driven by the artificial intelligence-driven expansion of data centres. The price changes do not affect the iPhone, Apple’s main revenue generator. However, the increase pushes the starting price of the MacBook Neo, its entry-level laptop designed to compete with affordable Windows and Chromebook devices, from US$599 to US$699 (RM2,464 to RM2,875) just months after its launch. The move underscores how even Apple, the world’s most valuable consumer electronics company with a highly efficient supply chain, is not insulated from the sharp surge in memory prices that is reshaping the outlook for smartphones and personal computers. Memory manufacturers such as Micron have recently prioritised orders from AI chipmakers like Nvidia, which has boosted their profits but constrained supply for consumer electronics firms. This imbalance has forced device makers to pass on higher costs to customers. “We have never seen a component price increase this much, this quickly,” Apple said in a statement. “We have shielded our customers from these increases so far, but we have now reached a point where we need to begin raising prices on a number of products, including today’s increases for iPad and Mac.” Under the new pricing, the MacBook Air with 512GB storage now costs US$1,299, up from US$1,099, while the MacBook Pro with 1TB storage has risen to US$1,999 from US$1,699. The iPad Air with 128GB storage has also increased from US$599 to US$749, among other adjustments. Apple has also raised prices for its HomePod smart speaker and Apple TV set-top box. The announcement weighed on investor sentiment, with Apple shares falling nearly 5%, while Dell declined more than 8%. Analysts said rival device makers may be forced to implement even steeper price increases, as Apple’s strong supplier relationships have helped cushion part of the impact. “The memory environment is tough and remains structurally tough for the foreseeable future,” said Ben Bajarin, CEO of technology consultancy Creative Strategies. Apple said in April that existing inventory had helped maintain gross margins above Wall Street expectations, but warned that rising memory costs would begin to weigh on profitability by the end of the month. “We expect significantly higher memory costs,” CEO Tim Cook said during an April earnings call, adding that the pressure would continue beyond the June quarter. Apple has not disclosed additional measures beyond price increases to offset rising costs. “We know this is not welcome news, and we are working tirelessly to find solutions,” the company said. Analysts expect further price adjustments, including potential increases for the iPhone in the coming months. Some also believe the latest hikes may encourage consumers to bring forward purchases ahead of future increases. “The iPhone isn’t spared, its hike is coming,” said Nabila Popal, senior research director at IDC. She added that Apple’s timing of the price adjustments ahead of its fall iPhone launch was strategic, allowing the company to shift focus toward product value rather than pricing concerns during the launch cycle. Prices for dynamic random access memory (DRAM), used in most electronic devices, have surged sharply due to AI-driven demand. Industry tracker TrendForce reported increases of up to 98% in the first quarter of 2026, with further gains of 58% to 63% expected in the current quarter. The surge, described by some analysts as “RAMageddon,” has been driven by aggressive expansion of AI data centres, with firms such as Nvidia locking in long-term supply deals. Micron recently disclosed US$22 billion in such agreements. The rising cost environment is expected to weigh on global device demand. IDC estimates the smartphone market could see its steepest annual decline of nearly 14% this year, while the PC market may fall 11.3%. One bright spot had been Apple’s MacBook Neo, launched in March, which supported stronger-than-expected sales forecasts for the June quarter. However, the latest price increase has eroded its pricing advantage over competitors, including Dell’s XPS 13, as well as entry-level Chromebooks from Lenovo and Asus.

Samsung Group is expected to announce plans to invest 1,000 trillion won (US$647.53 billion or RM2.7 trillion) in South Korea over the next decade, including a potential 300 trillion won commitment to build semiconductor manufacturing facilities in the country’s southwest region, according to a media report on Friday. The investment plan is set to be unveiled during a meeting with South Korean President Lee Jae Myung at the presidential office on Monday, the Maeil Business Newspaper reported, citing unnamed sources. Senior executives from major technology companies, including Samsung Electronics Co Ltd and rival SK Hynix Inc, are expected to attend the meeting, where they will present investment initiatives aimed at promoting economic growth beyond Seoul and its surrounding metropolitan areas. The reported investment push comes as South Korea seeks to encourage large corporations to expand operations outside the capital region. Samsung and SK Hynix currently have the bulk of their semiconductor production facilities concentrated around Seoul, and have faced increasing calls to support regional development through new investments. A significant portion of Samsung’s proposed spending is expected to be directed towards the semiconductor sector, reinforcing the country’s ambitions to strengthen its position in the global chip industry amid rising competition and growing demand for advanced technologies. South Korea’s presidential office said on Thursday that it plans to hold a public briefing on “three mega-projects for South Korea’s great leap forward”, adding that further details on the meeting would be announced in due course. Samsung had not issued an official comment on the report as of Friday, as the announcement was made outside regular business hours. If confirmed, the proposed 1,000 trillion won investment programme would rank among the largest corporate investment commitments in South Korea’s history and underscore Samsung’s long-term confidence in the country’s technology and manufacturing ecosystem.