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SME Corp Malaysia has allocated RM1.5 million under its Next Level CEO Programme to strengthen the leadership and management skills of senior executives from micro, small and medium enterprises (MSMEs). The programme aims to train 90 CEOs, managing directors and founders of high-growth and high-value MSMEs, helping them strengthen their businesses and contribute to Malaysia’s economic growth. The initiative is part of the Programme for Enhancement of Strategic Industry and High Growth Enterprise 2.0 (Prestige 2.0) and focuses on improving leadership, strategic planning and business competitiveness. SME Corp said the programme will equip MSME leaders with stronger strategic knowledge, leadership capabilities, innovative thinking and a broader global perspective. These skills are intended to help business leaders transform their organisations, improve productivity and compete more effectively in international markets. Participants will also receive practical executive learning through a combination of training, coaching, mentoring and exposure to industry best practices. To deliver the programme, SME Corp has appointed Heriot-Watt University Malaysia Sdn Bhd, ASB Management Sdn Bhd and Efficient Frontier Consulting Sdn Bhd as implementation partners. The programme under Heriot-Watt University Malaysia was officially launched on Friday by SME Corp CEO Rizal Nainy, together with the university’s Provost and CEO, Prof Dr Mushtak Al-Atabi. The appointed partners will be responsible for developing training modules, conducting leadership and coaching sessions, carrying out the SME Competitiveness Rating for Enhancement and monitoring the programme’s overall impact. Rizal said the initiative represents a strategic investment in leadership development, as strong organisational transformation begins with business leaders who have the vision and ability to drive change. He said Malaysia needs more MSMEs that can move beyond resilience and develop into high-value businesses capable of competing globally. Through the programme, SME Corp hopes to develop more capable business leaders who can expand their companies, improve productivity, capture new opportunities and contribute to Malaysia’s wider economic development. The ASB Management component of the programme is scheduled to launch in mid-August, while the programme with Efficient Frontier Consulting is expected to begin in September.

Malaysian food and beverage (F&B) café chain operator Oriental Kopi Holdings Bhd is expanding its international footprint into Indonesia and Mauritius, marking another step in its strategy to grow the Oriental Kopi brand across regional markets. The company said its wholly owned subsidiary, Oriental Coffee International Sdn Bhd, has entered into a strategic joint venture with PT Era Boga Nusantara (EBN) to establish and operate Oriental Kopi cafés in Indonesia. EBN, also known as Erajaya Food & Nourishment, is part of Indonesian retail conglomerate PT Erajaya Swasembada Tbk, providing Oriental Kopi with an established local partner to support its expansion into one of Southeast Asia’s largest consumer markets. Under the joint venture, EBN will hold a 60% stake in PT Era Oriental Kopi, while Oriental Coffee International will own the remaining 40%. The new company will be responsible for developing and operating Oriental Kopi outlets across Indonesia, with its initial expansion focused on the Greater Jakarta area, also known as Jabodetabek. The first Oriental Kopi outlet in Indonesia is targeted to open by the end of 2026 at Central Park Mall in West Jakarta. The mall is one of Jakarta’s prominent shopping and lifestyle destinations and forms part of the wider Podomoro City development. Beyond Indonesia, Oriental Coffee International has also signed a Territory Franchise Agreement with Coffee Time Ltd, an integrated F&B operator based in Mauritius, to introduce and develop the Oriental Kopi brand in the island nation. The move gives Oriental Kopi an opportunity to establish its presence in another international market while working with local partners who understand the respective consumer and F&B landscapes. The overseas expansion comes after the group previously entered the Singapore market, reflecting its broader strategy of taking its Malaysian café concept beyond the domestic market and building a stronger regional presence. With Indonesia, Mauritius and Singapore forming part of its international expansion plans, Oriental Kopi is positioning itself to grow its network of cafés while bringing its Malaysian-inspired food and beverage offering to a wider customer base across different markets.

AEON CO. (M) BHD. or (AEON) announced its collaboration with Weixin Pay during an official launch at Centre Court, AEON Mall Alpha Angle, on 5 August 2026. Chinese travellers can now use Weixin Pay at all AEON stores nationwide. The collaboration is supported by Tourism Malaysia as part of efforts to promote Malaysia as a preferred destination for Chinese tourists. Through the integration of Weixin Pay, AEON stores will be able to provide Chinese travellers with a more seamless payment experience, while creating new opportunities to attract more customers and drive business growth.  Hidekazu Iwaoka (left), and David Chong, Assistant Regional Director, Weixin Pay Southeast Asia officiating the launch of the collaboration. The campaign will run for one year, from 1 August 2026 to 31 July 2027. As part of the collaboration, the Visit Malaysia Year 2026 logo will be featured on AEON’s campaign point-of-sale materials, reinforcing Malaysia’s tourism promotion alongside the payment initiative. Throughout the campaign, customers who pay with Weixin Pay at AEON stores nationwide will enjoy exclusive preferential exchange rates, making every purchase even more rewarding. In addition, Weixin Pay users who spend at participating merchants across Malaysia, including AEON, will stand a chance to win vouchers worth up to RMB288 through a lucky draw. Together, these offers provide Chinese tourists and other Weixin Pay users with a seamless and rewarding shopping experience while visiting Malaysia. The collaboration reinforces AEON’s commitment to delivering greater value to customers while supporting national efforts to strengthen tourism. Hidekazu Iwaoka, Deputy Managing Director of AEON CO. (M) BHD., said, “We are pleased to collaborate with Weixin Pay to provide our customers with greater payment convenience while enhancing the shopping experience for visitors to Malaysia. This collaboration supports our commitment to delivering greater value to our customers and aligns with national efforts to strengthen tourism, particularly by making shopping more accessible and rewarding for Chinese visitors. We look forward to welcoming more tourists to our stores and contributing to Malaysia’s position as a preferred shopping destination.” David Chong taking a tour of AEON Mall Alpha Angle following the launch event. Commenting on the partnership, Mr. Ben Yang, Managing Director for Southeast Asia and North America at Weixin Pay, said, “At Weixin Pay, we are dedicated to delivering a seamless and trustworthy payment experience for users wherever they travel. With Visit Malaysia Year 2026 set to attract more Chinese travellers, we strive to ensure that their daily payments in Malaysia remain simple, convenient and intuitive, just like back home.”  

Malayan Banking Bhd (Maybank) is set to strengthen its position in the insurance and takaful sector after proposing to acquire Ageas Insurance International NV’s 30.95% stake in Maybank Ageas Holdings Bhd (MAHB) for RM4.83 billion. The proposed transaction will allow Maybank to move closer towards taking full ownership of MAHB, the holding company for Etiqa’s insurance and takaful businesses in Malaysia and Singapore. Maybank currently holds a majority 69.05% stake in MAHB. In a statement, Maybank said it had entered into an implementation agreement with Ageas as part of the proposed acquisition, which marks a significant step in consolidating its ownership of one of Malaysia’s leading insurance and takaful groups. Etiqa currently offers a comprehensive range of life and general conventional insurance products, as well as family and general takaful solutions, supported by multiple distribution channels including bancassurance, agents, digital platforms and other customer touchpoints. Maybank said the acquisition would further strengthen MAHB’s role as a leading national insurance and takaful champion, allowing the group to leverage Maybank’s extensive customer base, regional presence and integrated financial services ecosystem. The banking group added that full ownership of Etiqa would provide greater strategic flexibility to accelerate expansion across Southeast Asia, supported by Maybank’s established operations and market reach in the region. The proposed acquisition is also expected to deliver immediate financial benefits, including improvements in profit after tax and minority interest (PATAMI), earnings per share (EPS) and return on equity (ROE). Maybank said the transaction would contribute towards sustainable long-term value creation through stronger earnings growth and enhanced returns. Additionally, the acquisition is expected to improve capital management efficiency within Maybank’s insurance businesses, creating greater capacity to support sustainable dividend payouts as part of the group’s broader capital management strategy. Maybank President and Group Chief Executive Officer Datuk Sri Khairussaleh Ramli said the proposed transaction represents a significant milestone in the group’s strategy to further develop its insurance and takaful business across Southeast Asia. He added that Maybank will continue investing in innovation and digital capabilities to enhance operational efficiency, reduce costs and improve customer experiences. The RM4.83 billion purchase consideration was determined based on a price-to-book multiple of 1.98 times and a price-to-earnings multiple of 15.3 times. Maybank said the valuation was calculated after taking into account an RM800 million dividend proposed to be paid by MAHB upon completion of the transaction. Of this amount, Ageas is entitled to receive approximately RM248 million, while the remaining RM552 million will be allocated to Maybank. The proposed acquisition remains subject to regulatory approval, with Maybank having submitted a formal application to Bank Negara Malaysia for consideration. For the transaction, Maybank Investment Bank is acting as financial adviser, while Morgan Stanley Asia (Singapore) Pte has been appointed as international financial adviser. The acquisition highlights Maybank’s continued focus on expanding its integrated financial services ecosystem, while reinforcing Etiqa’s role as a key platform for the group’s future growth in insurance and takaful markets across the region.

The Ministry of Finance (MOF) has revealed that discrepancies in the shareholder structure of a Berjaya Group-Naza Group joint venture were among the reasons the consortium lost a government fleet management concession awarded through a 2019 letter of intent (LOI). Treasury deputy secretary-general (investment) Datuk Dr Shahrazat Haji Ahmad said the shareholders declared in the tender documents for the consortium’s special purpose vehicle (SPV), Cekap Urus Sdn Bhd, did not match the records filed with the Companies Commission of Malaysia (SSM). According to the tender documents, the SPV was to be owned by Berjaya Corporation Bhd and Naza Corporation. However, SSM records showed the registered shareholders were Berjaya Corporation Automotive Sdn Bhd and Berjaya Group Bhd. “They are different entities altogether with different financial performances,” Shahrazat said during a Public Accounts Committee (PAC) proceeding on Nov 3, 2025. The committee’s full report was released on Thursday. She explained that the tender evaluation included an assessment of the financial strength of the SPV’s shareholders. Had the actual shareholders registered with SSM been assessed instead, Cekap Urus would not have met the financial requirements due to negative cash flow. Shahrazat added that the Attorney General’s Chambers viewed the shareholder discrepancy as a significant issue that affected the integrity of the original tender evaluation. Despite this, the Public-Private Partnership Unit (UKAS) allowed the consortium to revise its shareholder structure to address the issue, which it later did. Cekap Urus received the LOI for the government fleet management concession in 2019. However, the LOI was revoked in 2020 following the change in federal administration after Tan Sri Muhyiddin Yassin became prime minister, succeeding Tun Dr Mahathir Mohamad. The concession was subsequently awarded to Spanco Sdn Bhd, a company linked to businessman Tan Sri Robert Tan Hua Choon. Following the cancellation, Cekap Urus filed a judicial review against the government, the MOF and Spanco, challenging the decision. Berjaya Group founder Tan Sri Vincent Tan Chee Yioun later claimed the government selected a proposal that would cost RM700 million more than the consortium’s bid. The case remains before the courts. Cekap Urus is currently owned 51% by Berjaya Corp, 29% by Naza and 20% by Tunku Tun Aminah Sultan Ibrahim Ismail. Negotiations Failed on Key Commercial Terms Shahrazat also disclosed that the MOF spent nearly two years negotiating with the consortium after issuing the LOI but was unable to reach an agreement on several key commercial issues. Among the unresolved matters were vehicle maintenance costs and purchase prices, as the consortium did not provide sufficient supporting documents or adequately respond to the government’s requests during negotiations. She also said the ministry could not verify the consortium’s claim that its proposal would save the government RM700 million because the lower pricing was not supported with adequate evidence. “When we examined the price difference, it was based on the difference between the proposed vehicle values and the actual market value. However, we were unable to obtain supporting documents to confirm whether those lower prices had actually been agreed upon,” she said. She added that several cost items classified as “other costs” were quoted at reduced amounts without detailed breakdowns, preventing the government from validating the claimed savings. Shahrazat stressed that the LOI did not constitute a final contract award but merely initiated negotiations between the government and the consortium. She noted that the LOI also gave the government the right to terminate it at any time without providing a reason. Addressing claims that the concession was later awarded to Spanco through direct negotiations, Shahrazat said the company was approached because it had ranked second in the original tender exercise. “We negotiate with the second-ranked bidder. If those negotiations fail, only then do we reopen the request for proposal,” she said.

AirAsia Group Bhd has officially completed its corporate name change from AirAsia X Bhd, with the new name taking effect on July 2, marking a significant step in the airline’s transformation strategy. In a statement, the company said the rebranding follows shareholder approval at its annual general meeting on June 25 and the successful registration of the new name with the Companies Commission of Malaysia (SSM). According to the group, the new identity better reflects its evolution into a more integrated airline group as it works towards becoming the world’s first low-cost network carrier. The company said the transformation will enable it to optimise its route network, enhance operational efficiency, strengthen connectivity across key markets, and continue providing affordable air travel throughout Asia and beyond. Independent non-executive chairman Tan Sri Jamaludin Ibrahim said the name change represents an important milestone in the group’s long-term growth strategy, positioning the company to capitalise on a larger fleet and support its future expansion plans. He added that the move reinforces the group’s commitment to strengthening its network while delivering greater value to customers and shareholders.

Pop Meals, one of Malaysia’s home-grown food brands, is proud to announce a major milestone in its journey: the official Halal certification of the Pop Meals brand. The certification was celebrated at a special Halal Certification Ceremony held at Pop Meals’ Pantai Hospital outlet on Thursday, 9 July 2026, officiated by high-ranking officials from the Department of Islamic Development Malaysia (JAKIM). High ranking Jakim Officials with Pop Meals’ Director Nursuriani Binti Tajul Azhar, Halal Quality Manager, Syahida binti Wahid Udin and Halal Executive, Ainna Sofia Zamri during the celebration. The ceremony marks an important step forward for Pop Meals as it continues to grow its presence across Malaysia while strengthening customer trust. The event was attended by representatives from JAKIM together with Pop Meals’ leadership team, including Director Nursuriani Binti Tajul Azhar, Halal Quality Manager Syahida binti Wahid Udin, and Halal Executive Ainna Sofia Zamri. Founded in 2021 with its first outlet at DPulze Cyberjaya, Pop Meals has grown from a young Malaysian food startup into a proudly homegrown brand with 87 outlets across Klang Valley, Melaka, and Johor. The company is on track to reach 100 outlets later this year, reflecting strong demand from Malaysian consumers for affordable, convenient, and familiar meals. The Halal certification comes at a meaningful time for Pop Meals as it scales up operations to support its expanding outlet network. Alongside the brand, the central kitchen is now officially Halal certified, powered by a strict Halal Assurance System (HAS) that guarantees 100% traceability of raw ingredients from kitchen to outlet. “This is a very proud moment for Pop Meals and for our entire team,” said Nursuriani Binti Tajul Azhar, Director of Pop Meals. “We started as a Malaysian brand with a simple mission: to make good, familiar meals more accessible to more people. Receiving Halal certification is an important milestone because it gives our customers even greater confidence in the food we serve every day.” Pop Meals has always positioned itself as a proudly Malaysian brand. Since its beginning, the company has focused on serving meals that Malaysians know, love, and enjoy regularly, while making them convenient and affordable for modern lifestyles. Today, Pop Meals employs a team made up of more than 91% Malay team members, many of whom work across its HQ, operations, quality, and support functions. To celebrate this milestone, Pop Meals is launching an “Up to 55% OFF” promotional campaign, giving customers across Malaysia the opportunity to enjoy their favourite meals at special prices. The campaign reflects the brand’s commitment to making quality meals more affordable and accessible for the everyday Malaysian customer. Pop Meals at Pantai Hospital celebrating the Halal Certification with a “Giving Back Day” to the community of frontliners, hospital staff and nurses with 555 Free meals during the event. The meals were taken up in less than 1 hour. As part of the celebration, Pop Meals also hosted a special “Day of Giving Back” at its Pantai Hospital outlet on Thursday, 9 July 2026. On this day, hospital frontliners, staff, and nurses will be invited to pick up 555 free Mac n Cheese meals as a token of appreciation for their dedication and service to the community. “Our Pantai Hospital outlet is a meaningful location for this ceremony because it allows us to celebrate together with the people who serve the community every day,” said Nursuriani. “We are especially happy to give back to hospital frontliners, staff, and nurses with 555 free meals on the same day as our Halal certification ceremony.” Pop Meals’ Halal Quality Manager, Syahida binti Wahid Udin, and Halal Executive, Ainna Sofia Zamri, have played important roles in establishing the Internal Halal Committee (IHC) and driving the Halal competency training across the wider team. Their work, together with the commitment of the wider Pop Meals team, has helped the brand achieve this important certification while preparing the business for further expansion. Looking ahead, Pop Meals aims to bring Malaysian classic meals to more customers not only in Malaysia, but also across Southeast Asia and beyond. The company has entered into joint ventures with local powerhouse retail conglomerates as part of its regional growth strategy, combining Pop Meals’ food brand and operating model with strong local partners in new markets. As Pop Meals moves closer to its 100-outlet milestone, the Halal certification represents more than an operational achievement. It reflects the brand’s Malaysian roots, its commitment to trust and quality, and its ambition to make Malaysian meals loved by customers across the region. “We are grateful to JAKIM, our team members, our partners, and our customers for being part of this journey,” added Nursuriani. “This milestone motivates us to continue growing Pop Meals with pride, responsibility, and a deep respect for the customers and communities we serve.”

The Malaysian Association for Arts, Live Events, Concerts and Festivals (ALIFE) today joined fellow industry associations under the Industries Unite coalition in calling for the abolishment of the Entertainments Tax. Introduced in 1953 during the colonial era, the Act was created at a time when entertainment was viewed as a luxury. More than seventy years later, Malaysia has evolved into a nation driven by tourism, creativity, culture and experiences, yet this outdated legislation remains. “Entertainment today is not a luxury. It is culture, family recreation, tourism and an important contributor to Malaysia’s creative economy,” said Rizal Kamal, Senior Advisor of ALIFE. “The question is no longer whether the Act is outdated. The question is why we continue to operate under it.” Entertainment Tax Affects Far More Than Concerts A common misconception is that entertainment duty only affects major international concerts. In reality, it applies to virtually every ticketed live performance, including theatre productions, musicals, comedy clubs, dance performances, cultural showcases, arts festivals, touring productions and performances in cafés and live music venues. These are not simply commercial activities. They are cultural outputs that preserve Malaysian stories, nurture local talent and provide wholesome experiences that bring families together. For many children, a theatre production is their first introduction to the performing arts. Public policy should make these experiences more accessible, not more expensive. Grassroots Talent Bears the Greatest Burden While major productions receive the most attention, it is grassroots performers who are most affected. Emerging comedians, theatre companies, musicians, dancers, cultural producers, festival organisers, venue operators and independent promoters rely on affordable ticket prices to build audiences. Entertainment duty increases costs before a single ticket is sold, making it harder for local talent to experiment, grow and build sustainable careers. If Malaysia wants internationally recognised artists tomorrow, it must support emerging artists today. Malaysia Should Make Touring Easier, Not Harder Local artists should be encouraged to perform throughout Malaysia. A successful production in Kuala Lumpur should naturally continue to Johor Bahru, Penang, Kuching, Kota Kinabalu, Ipoh and other cities, allowing more Malaysians to enjoy live performances while creating economic opportunities nationwide. Instead, organisers face different entertainment tax rates, approval processes and administrative interpretations depending on where performances are held. In some cases, even different municipalities within the same state apply the law differently. Some local authorities have clear mechanisms for exemptions or reductions, while others have little guidance on implementation. This fragmented approach discourages domestic touring, creates unnecessary costs and limits the growth of Malaysia’s live performance ecosystem. Stable Policy Creates Investment The creative economy depends on long-term investment. Whether developing touring circuits, restoring theatres, opening live music venues or producing festivals, investors need confidence that policies will remain stable and predictable. The Federal Government’s decision to exempt entertainment duty for international live performances until 2028 has already demonstrated what stable policy can achieve. Kuala Lumpur has experienced remarkable growth in international concerts and live entertainment, attracting investment, creating employment and generating significant economic activity across tourism, hospitality, retail and transportation. This growth has contributed substantial revenue to the Federal Government through tourism, corporate taxes, income taxes, SST and the wider economic activity generated by a thriving live entertainment industry. ALIFE believes the same certainty should now be extended nationwide, particularly in high-potential cities such as Johor Bahru, Penang and Kuching, where the private sector is ready to invest if long-term policy remains competitive and consistent. Looking Beyond Entertainment Duty Every live event creates spending that extends far beyond the venue itself. Audiences support hotels, restaurants, cafés, shopping centres, transport providers and thousands of small businesses. Tourism remains one of Malaysia’s most important economic sectors, while shopping consistently accounts for more than one-third of international visitor expenditure, illustrating the wider multiplier effect generated by visitor experiences. The objective should not be to maximise tax collected from each ticket. It should be to maximise economic activity across entire cities, support local businesses, create jobs and strengthen Malaysia’s competitiveness as a regional destination for arts, culture and tourism. A Call for Action ALIFE respectfully calls upon the Federal Government and all State Governments to work together to resolve the longstanding issues surrounding the Entertainments Tax. We recognise that successive governments have acknowledged that the legislation no longer reflects the realities of today’s creative economy. What Malaysia needs now is decisive action. Malaysia should not have one city with a competitive entertainment policy while other cities compete under different rules. A consistent national framework would unlock private investment, encourage domestic touring and allow every state to benefit from the growth of the creative economy. Abolishment of the tax would make live performances more affordable for families, strengthen grassroots talent, encourage domestic touring, provide confidence for investors and position Malaysia as one of Southeast Asia’s leading destinations for arts, culture and live experiences. Stable Policy. Stronger Confidence. Sustainable Growth. “Entertainment is not a luxury. It is culture. It is family. It is community. It is economic growth. It is time our laws recognised that.”

WCT Holdings Bhd has expanded its overseas project portfolio after securing a sub-contract worth RM926.21 million from United Arab Emirates-based Construction General Contracting House Ltd to undertake works for a residential development in Abu Dhabi. In a filing with Bursa Malaysia, WCT said the project is owned and developed by Aldar Development LLC-OPC, a subsidiary of one of Abu Dhabi’s prominent property developers. The contract, known as the Yas Riva Residences Works Package, involves the construction and completion of six residential buildings located on Plot C54 and C55. Each building will comprise 11 levels and will be supported by a shared basement facility. The scope of works includes the construction activities required to deliver the residential development, further strengthening WCT’s presence in the Middle East construction market. According to WCT, the sub-contract works are expected to commence in the third quarter of financial year 2026 and are scheduled to be completed within 1,218 days from the commencement date. The company said the project is expected to contribute positively to its future earnings and order book, while enhancing its track record in delivering large-scale international property and infrastructure developments. WCT added that neither the directors nor major shareholders of the company, nor any persons connected to them, have any direct or indirect interest in the sub-contract. The latest contract win reflects WCT’s continued efforts to grow its construction business beyond Malaysia, leveraging its experience and capabilities in undertaking complex developments across regional markets.

Malaysia’s central bank said on Wednesday that it has imposed a fine of RM520,000 (US$125,665) on AEON Credit Service (M) Bhd (AEONCR) for breaches involving targeted financial sanctions requirements. AEON Credit, the Malaysian subsidiary of Japan’s Aeon Co (8267), has since implemented remedial measures and conducted refresher training for relevant staff to strengthen compliance processes, according to Bank Negara Malaysia (BNM). BNM said the breaches occurred after AEON Credit allowed a sanctioned entity to open an account with the company. The central bank did not disclose the identity of the sanctioned party. In addition, AEON Credit was found to have delayed freezing the account even after confirmation that the customer was listed under domestic sanctions, the regulator added. “These breaches were attributed to lack of staff oversight and a gap in AEON Credit’s standard operating procedure,” Bank Negara Malaysia said in its statement. BNM also confirmed that AEON Credit has since paid the compound, which was settled on April 16. The central bank reiterated that financial institutions are required to maintain robust internal controls and compliance frameworks to ensure full adherence to sanctions obligations, particularly in relation to customer due diligence and timely account restrictions. The case highlights the importance of strengthening operational safeguards within financial institutions to prevent lapses in sanctions screening and enforcement.