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Malaysia will maintain the current monthly subsidised fuel quota of 200 litres under the Budi Madani RON95 (Budi95) programme for now, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said the government would only consider revising the quota if Brent crude prices — the global oil benchmark — rise sharply to between US$200 and US$300 per barrel. At the time of writing, Brent crude was trading at US$92.38 per barrel. “We reduced the quota from 300 litres to 200 litres, and I think that has helped. If prices were to reach US$200 to US$300 per barrel, then we would have to look again at that time,” he said at the Invest Malaysia conference on Tuesday. “As long as the government has the ability to manage the situation, we will continue to mitigate the impact on society,” he added. On fuel supply, Amir Hamzah said the government has been securing supplies on a rolling basis and intends to continue doing so. “We have been able to secure supply for up to three months ahead and will continue to do so. What we cannot guarantee is that prices will remain stable, as they must ultimately reflect global market conditions over the longer term,” he said. The Budi95 monthly quota was reduced from 300 litres to 200 litres effective April 1, as Malaysia’s fuel subsidy bill rose to about RM7 billion per month amid global supply disruptions linked to geopolitical tensions and instability around the Strait of Hormuz — a key route for global oil and gas shipments. The Budi95 programme allows eligible Malaysians to purchase RON95 petrol at a subsidised rate of RM1.99 per litre. Malaysia, along with many countries, continues to face pressure from volatility in global energy markets due to ongoing geopolitical conflicts that have disrupted shipping routes and pushed crude oil prices above US$100 per barrel at times. Against this backdrop, Petroliam Nasional Bhd (PETRONAS), which supplies about half of Malaysia’s fuel through its listed subsidiary PETRONAS Dagangan Bhd, has reiterated its commitment to ensuring supply security through end-July, according to earlier remarks by Economy Minister Akmal Nasrullah Mohd Nasir.

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

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

The Communications Ministry is prepared to engage with TikTok to explore ways for Malaysian media organisations to generate revenue from livestream content broadcast on the platform. Communications Minister Datuk Fahmi Fadzil said media organisations should have the opportunity to earn returns from audiences consuming content through their official channels. He said many media practitioners had raised concerns over the inability to monetise livestream content produced by their organisations. “Many of our media friends have asked why they are unable to generate revenue from the livestreams they produce, and I would like to convey the message from editors-in-chief to TikTok Malaysia’s Head of Public Policy for this matter to be considered. “Media organisations feel there is a need to identify revenue streams from livestream broadcasts and content they produce, which, in my view, are of very high quality,” he said during the closing ceremony of the Festival Belia @ National Youth Day 2026 celebration for the Federal Territories on Sunday. Speaking to reporters after the event, Fahmi said the issue extends beyond TikTok, noting that many social media platforms also benefit from content created by media organisations and official news accounts. However, he said editors-in-chief had informed him that some platforms, including TikTok, currently do not allow media organisations to monetise or receive financial returns from the content they publish. “As such, I am requesting, and I am prepared to hold discussions with TikTok to see what can be done to support media organisations in Malaysia. “If a media organisation conducts a livestream that attracts tens of thousands or even hundreds of thousands of viewers through its official account, there should be some form of return from platforms such as TikTok,” he said. Fahmi added that this is particularly relevant when audiences tune in because of the credibility of the media brand, yet are unable to send virtual gifts or financial contributions through the platform. He said the ministry would continue collaborating with social media platforms to support the sustainability of Malaysia’s media ecosystem, including exploring more suitable monetisation models for local media organisations.

Gardenia Foods Pte Ltd will relocate its bakery production operations from Singapore to Johor Bahru, resulting in the retrenchment of 141 employees at its Pandan Loop manufacturing facility. In a statement on Wednesday, the company said the move is part of efforts to improve operational efficiency and remain competitive amid a challenging global business environment. Production at the Singapore facility will officially cease on June 30. Gardenia informed employees of the decision during an internal meeting held earlier in the day. The company said affected staff will receive notice and support in line with local employment regulations and guidelines. Eligible employees may also be considered for alternative roles within the group’s broader operations network where suitable opportunities are available. The Food, Drinks and Allied Workers Union (FDAWU), an affiliate of the National Trades Union Congress (NTUC), said it had been informed early about the restructuring exercise and is currently assisting affected workers with training, job placement and retrenchment support. Gardenia will provide compensation packages to impacted employees and sponsor one year of union membership, while the Employment and Employability Institute (e2i) will offer career advisory and job matching services. Gardenia has been owned by Singapore-listed QAF Ltd since 1985. Over the years, the group has expanded its bakery operations across the Asia-Pacific region, including Malaysia, the Philippines and Australia.

The Malaysian Communications and Multimedia Commission (MCMC) and Huawei Technologies (Malaysia) Sdn. Bhd. (Huawei Malaysia) today celebrated 126 graduates from the second and third cohorts of the Digital Leadership Excellence (DLE) Programme, reinforcing efforts to strengthen Malaysia’s digital leadership capacity across government, academia and industry. Chairman of MCMC, Tan Sri Mohamad Salim Fateh Din and CEO of Huawei Malaysia, Simon Sun (centre) at the Digital Leadership Excellence (DLE) Programme Graduation Ceremony, with them are (L to R) Vice President of Huawei Asia Pacific Enterprise Sales Dept, Zac Chow; MCMC Commission Members, Prof. Dr Mohamad Salmi Mohd Sohod and Dato’ Sri Dr. Chee Hong Leong; MCMC Managing Director, Abdul Karim Fakir Ali; Senior Advisor, International Affairs of MCMC, Tan Sri Dato’ Sri Mohd Annuar Zaini; MCMC Commission Member, ⁠General (Rtd) Tan Sri Dato’ Sri Zulkifeli Mohd Zin and Deputy CEO of Enterprise Business Group, Huawei Malaysia, Du Xianjun. The second and third cohorts completed the four-month intensive hybrid learning programme in 2025, with 60 senior leaders completing the programme in June, followed by a further 66 in October. Together with the inaugural cohort in 2024, which produced 50 graduates, the DLE Programme has now trained a total of 176 digital leaders nationwide. The fourth cohort is currently underway, while the fifth cohort is expected to conclude by the end of the year, bringing the programme closer to its target of training 300 digital leaders by 2026. The graduation ceremony saw the graduates receive their scrolls from MCMC Chairman, Tan Sri Mohamad Salim Fateh Din, and Huawei Malaysia CEO, Mr Simon Sun. MCMC recognises the importance of partnerships such as the DLE Programme in strengthening Malaysia’s digital leadership capacity and supporting responsible, impactful digital transformation. Initiatives such as DLE help strengthen cross-sector collaboration and equip leaders with the skills and perspectives needed to navigate an increasingly digital future. MCMC remains supportive of collaborative efforts that help translate national ambitions into meaningful outcomes for the country. “At its core, digital transformation calls for leaders who can look beyond technology itself and focus on how it can solve real problems, strengthen organisations or institutions and improve lives. This is the purpose of the Digital Leadership Excellence Programme,” said Huawei Malaysia CEO Mr Simon Sun at the graduation event. The programme focuses on applied leadership development, collaboration and immersive exposure to emerging technologies including 5G, artificial intelligence, cloud computing, big data, green technology and cybersecurity. Graduate Mohd Saiful Nizam bin Rahimi, Lead for Information and Application Architecture at Tenaga Nasional Berhad, described DLE as “an incredible opportunity to exchange ideas with industry peers, thought leaders and Huawei’s global experts”. He added, “The discussions and case studies inspired me to think more strategically about how technology can be leveraged to drive meaningful impact in our organisations and ecosystems.” From academia, senior lecturer at Universiti Sains Malaysia, Dr Norilmi Amilia from Cohort 2 said the initiative demonstrated how “true digital leadership starts with collaboration”, adding that DLE “unites minds to move nations forward.” From the industry sector, Danny Chan Tzu Zhung, Director of Regional Telecommunication Media and Technology Sector Specialist (Head) at CIMB Investment Bank said, “I shifted from passive supporter to active change-maker. DLE isn’t just a programme – it’s a movement uniting sectors to empower others.” Graduates also completed capstone projects addressing national priorities such as education, healthcare, talent development, financial security, agriculture and social inclusion, reflecting the DLE Programme’s emphasis on practical, solution-oriented leadership. Inspired by Prime Minister Dato’ Seri Anwar Ibrahim’s call for stronger digital leadership capabilities during the 2023 Malaysia ICT Summit hosted by Huawei Malaysia, the DLE Programme supports Malaysia’s aspirations for a resilient, inclusive and future-ready digital economy. The continued collaboration between MCMC and Huawei Malaysia through the DLE Programme reflects a shared commitment to nurturing future-ready leaders and supporting Malaysia’s long-term digital transformation agenda.

ASIA SCHOOL OF BUSINESS VAULTS INTO FINANCIAL TIMES WORLD’S TOP 100 FOR EXECUTIVE EDUCATION The historic debut recognises ASB’s mission to deliver world-class education built in Asia, for Asia and beyond. The Asia School of Business (ASB) has achieved a historic milestone by debuting at 94th globally in the prestigious Financial Times (FT) Executive Education Custom Rankings. In its very first year of participation, ASB is the first business school in Malaysia to enter this definitive global ranking. This landmark achievement reflects the deep trust placed in ASB by diverse corporate partners and underscores the School’s commitment to executive learning engineered specifically for Asia’s unique leadership and organisational transformations. Delivering Tangible Business Value The FT methodology relies heavily on direct stakeholder sentiment, with client and participant feedback accounting for 80% of the overall ranking across dimensions like programme design, teaching methods, and value for money. Professor Joseph Cherian, CEO, President, Dean and Distinguished Professor of Asia School of Business, expressed his enthusiasm: “Securing a position among the world’s top 100 custom executive education providers in our inaugural debut is an extraordinary honour for the Asia School of Business, and a significant milestone that elevates Malaysia’s presence in global business education. With the Financial Times methodology placing an immense 80% weight on client feedback, this ranking directly validates the genuine trust, real-world value, and transformational impact our corporate partners experience with us.” Strategic Excellence Across Five Pillars ASB’s executive education programmes are uniquely structured to address the most pressing challenges of the modern economy. The School’s curriculum is anchored by five strategic pillars designed to empower leaders with a 360-degree perspective on regional and global shifts: Corporate Governance & Finance: Enhancing the skills of directors to effectively fulfil their fiduciary duties, with a focus on board-level risk management, strategy, and succession planning. Leadership & Management: Equipping busy executives and high-potential managers across industries with the practical tools and insights needed to lead effectively in today’s complex world. Technology: Immersing participants in the dynamic digital landscape, covering pivotal fields like AI and cybersecurity to understand how technology is reshaping global industries. Geopolitics: Examining the interplay between global policies and economics, enabling leaders to anticipate geopolitical shifts and adapt strategies for resilient growth. Sustainability: Moving beyond the buzzwords to help organisations strike a vital balance between profits and sustainable growth, progress, and future-minded impact. Global Inquiry, Local Heart This global recognition validates ASB’s defining ethos: Global Inquiry, Local Heart. Unlike traditional regional outposts, ASB operates as a homegrown executive education powerhouse built inside the region, significantly enhanced by the integration and legacy of the ICLIF Leadership and Governance Centre in 2020. “Our capability has been built deeply and institutionally over the years to design executive education that answers to Asian market dynamics while staying globally connected,” added Professor Cherian. “This recognition builds on ASB’s broader trajectory of international benchmarking, including our AACSB accreditation and growing global engagement. Moving forward, this milestone will catalyse our next phase of growth as we strengthen client listening mechanisms and expand our international footprint.” A Comprehensive Educational Ecosystem Building upon this momentum, ASB continues to shape global knowledge from Asia for the world. Beyond executive education, the School offers premier postgraduate degrees including the Master in Central Banking (MCB), MBA, Executive MBA (EMBA), and Agile Continuous Education (Micro-Credential) programmes (ACE). Driven by its signature Action Learning methodology, ASB ensures graduates possess rigorous real-world capabilities, backed by robust career services that successfully place students in top-tier global and regional organisations.

Gas Malaysia Berhad has signed a joint development agreement (JDA) with Tokyo Gas Co., Ltd. and VTTI B.V. to develop a liquefied natural gas (LNG) regasification terminal in Yan, Kedah. In a Bursa Malaysia filing, the company said the project has an estimated development cost of RM72 million, with Gas Malaysia holding a 70% stake worth about RM49.8 million. The partnership combines technical, operational, and infrastructure expertise across the LNG value chain to improve project execution, commercial readiness, and long-term viability. The agreement also sets out a governance framework for the development phase, leading towards a final investment decision after all technical, commercial, regulatory, and financial assessments are completed. The project is expected to enhance Malaysia’s energy security by diversifying LNG import infrastructure and reducing reliance on existing entry points in Peninsular Malaysia, while supporting industrial and power sector demand in the northern region. It is also seen as part of Gas Malaysia Berhad’s strategy to tap long-term growth opportunities under Malaysia’s evolving energy transition agenda.

Malayan Banking Bhd (Maybank) has introduced SME Perkasa, a targeted financing initiative aimed at helping small and medium enterprises (SMEs) manage rising costs and cash-flow pressures in a challenging operating environment. The bank said it will provide up to RM1 billion in financing approvals over the next 12 months, with eligible SMEs able to obtain up to RM1 million in funding, along with a six-month deferment of principal repayments. Maybank said approved applicants can receive disbursement within 48 hours once all documents are completed, supported by a fast-track credit assessment process that leverages existing customer transaction data to speed up approval. Group chief executive officer of community financial services Syed Ahmad Taufik Albar said SMEs are facing mounting cost pressures and tighter cash flows, making both financing access and speed of approval increasingly important. He said SME Perkasa is designed to ensure faster access to funds while also providing advisory support to help businesses remain resilient. The initiative is open to existing Maybank SME customers across 10 key sectors, including logistics, construction, wholesale distribution, food supply chains, agriculture, machinery imports, courier services and petrol station dealers. SMEs are encouraged to apply early or visit maybank.my/smeperkasa for more information.

PETRONAS, through its unit PETRONAS LNG Ltd (PLL), has signed a 20-year time charter agreement with MISC Bhd for five new liquefied natural gas (LNG) carriers. In a statement, PETRONAS said the vessels, each with a capacity of 174,000 cubic metres, will be built by China’s Hudong-Zhonghua Shipbuilding Group in Shanghai under shipbuilding contracts concluded earlier this year by MISC. (From left) MISC president & group CEO Zahid Osman, MISC vice-president of Gas Assets & Solutions Hazrin Hasan, PETRONAS executive vice-president & CEO of Gas & Maritime Business Datuk Adif Zulkifli, PETRONAS LNG Ltd CEO Ezran Mahadzir, and PETRONAS vice-president of LNG Marketing & Trading Shamsairi M Ibrahim. Charter operations are scheduled to commence between 2029 and 2030. PETRONAS executive vice-president and CEO of gas and maritime business Datuk Adif Zulkifli said the addition of the new LNG carriers marks an important milestone in strengthening collaboration across the LNG value chain. The financial value of the agreement was not disclosed. MISC, which is 51%-owned by PETRONAS, will manage project supervision during the construction phase before taking over full vessel operations and management upon delivery. The new LNG carriers will be equipped with fuel-efficient and emissions-reduction technologies, including XDF2.1 propulsion systems, shaft generators and onboard reliquefaction systems to manage boil-off gas. PETRONAS said the deal strengthens MISC’s role in supporting its LNG logistics network as it continues to expand its gas and maritime solutions portfolio.