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Vietnam says more tariff negotiations with US needed

HANOI: The United States and Vietnam have concluded a second round of trade negotiations on tariffs and agreed to continue the talks to address unresolved issues, Vietnam’s trade ministry said in a statement on Thursday (May 22). The second round of talks took place in Washington on May 19-22 involving Vietnam’s Trade Minister Nguyen Hong Dien and the US Trade Representative Jamieson Greer, the Vietnamese ministry said on its website showing pictures of meetings. “At the end of the negotiation round, Vietnam and the United States made positive progress, identifying groups of issues on which consensus was close, and groups of issues that needed further discussion to reach consensus in the coming time,” the statement said, without elaborating. It noted that talks will need to continue in early June. The US Trade Representative did not immediately reply to a request for comment outside of US business hours. Vietnam heavily relies on exports to the US and faces one of the highest “reciprocal” tariff rates set by the White House at 46 per cent. Those duties have been paused globally by Washington until July.–REUTERS

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Goldman Sachs combines three Asia IB businesses, names Drayton new unit head

HONG KONG :Goldman Sachs is merging three Asian investment banking businesses it previously managed separately into a single unit to integrate its regional deals advisory and capital market capabilities, according to a memo reviewed by Reuters. Iain Drayton, head of the Wall Street bank’s investment banking business in Asia excluding Japan, will lead the integrated Asia Pacific investment banking unit, said the internal memo issued on Thursday. A bank spokesperson confirmed the memo’s content. “This structure will enable more holistic client engagement, more effective deployment of global and regional expertise, and increased career opportunities for our people,” Goldman Sachs said in the memo. In the new role, Drayton will work closely with Yoshihiko Yano and Shogo Matsuzawa, co-heads of investment banking in Japan, and Nick Sims and Zac Fletcher, co-heads of corporate advisory in Australia and New Zealand, the memo said. A Goldman Sachs veteran, Drayton joined the firm in Tokyo as a managing director in 2006, relocated to Hong Kong in 2010, and was named a partner in 2014. Goldman Sachs ranks at the top of the Asia Pacific equity capital market league table this year, according to Dealogic data.–REUTERS

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AirAsia Secures RM99.5 Million Charter Service Deal to Support Malaysian Armed Forces Mobility

LANGKAWI: AirAsia has formalised a charter service, including special aircraft leasing with the Malaysian Armed Forces (ATM) until 1 August 2027. This service highlights AirAsia’s commitment to leveraging its vast domestic network and high-frequency flights to provide reliable and efficient transportation solutions for the ATM. The contract, valued at RM99.5 million encompasses both daily charters and special charter arrangements, covering domestic routes throughout Malaysia. AirAsia will facilitate the movement of ATM personnel using commercial flights from Monday to Friday for duty and welfare travel in tandem with AirAsia’s existing commercial flight schedule, ensuring seamless integration while maintaining passenger convenience. Additionally, there will be a special charter arrangement involving the exclusive rental of the entire aircraft, dedicated solely to ATM personnel, without mixing with commercial passengers. Dato’ Captain Fareh Mazputra, AirAsia Malaysia CEO said: “We are proud to strengthen ties with our long-standing partner, the Malaysian Armed Forces. As the airline with the most extensive domestic network with 38 routes and the highest flight frequencies in Malaysia with more than 1,100 flights weekly, we are well-equipped to support the ATM’s mobility needs. As the people’s airline, this partnership reaffirms our commitment to continue serving the nation and supporting government initiatives.” In addition to air travel, the contract includes comprehensive services such as in-flight meals, luggage handling, and logistical support from the airport to military camps, both ways to ensure the comfort and well-being of ATM personnel during their movements.

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New Aerospace Academy Sarawak to be Established by Aviation Design Centre and CENTEXS

LANGKAWI: In a landmark development announced at LIMA 2025, Aviation Design Centre Sdn Bhd, an associate company of National Aerospace & Defence Industries (NADI) and the Centre for Technology Excellence Sarawak (CENTEXS), a wholly owned subsidiary of Yayasan Sarawak, have entered into a strategic joint venture to establish Aerospace Academy Sarawak Sdn Bhd. This collaboration marks a significant milestone in advancing Sarawak’s aerospace capabilities, aimed at nurturing local talent  and strengthening Malaysia’s position in the regional aerospace ecosystem. The new academy is envisioned to become a premier institution for aerospace manufacturing and Maintenance, Repair & Overhaul (MRO) training in East Malaysia and eventually, nationwide. The milestone was marked by an official handover ceremony of the Certificate of Incorporation, signifying the formal partnership invitation for the establishment of Aerospace Academy Sarawak. The certificate was presented by Aviation Design Centre to CENTEXS, symbolising the beginning of a strong partnership aimed at cultivating a skilled local workforce to serve the expanding aerospace sector. Presently both partners are already training nearly 100 youths since November 2024 at Lundu and Subang campuses. Aerospace Academy Sarawak will offer industry-aligned programs tailored to global standards, empowering Sarawakian and Malaysian youth with cutting-edge technical capabilities in aerospace manufacturing and MRO. The collaboration merges Aviation Design Centre’s robust industry expertise with CENTEXS’s excellence in technology training, testbeds and commercialisation. “This partnership will be a strategic milestone not just for our organisations but for the entire State of Sarawak and Malaysia” said En Ezry Bakar Ahmad, Managing Director of Aviation Design Centre. “Together, we aspire to establish Sarawak and Malaysia as a regional hub for aerospace talent and innovation.” Dato’ Haji Syed Mohd Hussein bin Wan Abdul Rahman, Chief Executive Officer of CENTEXS, added: “CENTEXS is proud to be part of this forward-thinking initiative. The Aerospace Academy will open doors for our youth to enter high-value, high-tech industries, supporting Sarawak’s and Malaysia’s long-term vision for a diversified economy.” The formation of the academy supports Sarawak’s broader industrial transformation agenda and is expected to play a pivotal role in creating high-skilled job opportunities and advancing the local aerospace ecosystem. If this is successful, the business model can be established nationwide.

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GAIP Appoints Min Hung Cheng as Chief Executive Officer

SINGAPORE: The Global Asia Insurance Partnership (GAIP) has announced the appointment of Min Hung Cheng as its new Chief Executive Officer, effective 6 May 2025. This internal promotion marks a significant step forward for the organisation, as Min Cheng transitions from her role as Deputy CEO and Senior Director to lead the next phase of GAIP’s development. Cheng brings with her a wealth of industry expertise, strategic insight, and a strong familiarity with GAIP’s mission and operations. Her appointment reflects both her leadership within the organisation and her ability to guide GAIP as it shifts its focus from strategic planning to execution. Over the past four years, GAIP has embarked on a journey to address critical protection gaps across Asia. The organisation was first established under the founding CEO’s leadership, which laid its essential foundations. A second phase followed, led by CEO John Maroney, focusing on consolidation and strategic development. With Cheng at the helm, GAIP is now entering its third phase—focused on accelerating programmes, strengthening multi-sector collaboration, and driving impact. Yoshi Kawai, Chairman of GAIP, expressed strong confidence in the appointment. “We are delighted to appoint Min Cheng as GAIP’s new CEO. Her understanding of GAIP’s mission and her proven capability to execute strategies effectively will be invaluable as we continue our journey. We also extend our appreciation to the previous CEO, John Maroney, for his leadership, positioning us for Min to lead the execution. As we enter this next phase of growth, I am confident that Min will accelerate our key initiatives and strengthen GAIP’s impact across the insurance industry.” In her statement, Cheng said, “I am honoured to step into the role of CEO at GAIP. While much work remains ahead, I am committed to building upon the important groundwork laid. I look forward to working with our partners and stakeholders to translate our vision into action, fostering multi-sector collaboration and sustainable solutions that build risk resilience in Asia and beyond. The support from our partners has been crucial to our progress, and I am dedicated to maintaining and building on these collaborative efforts.” GAIP was established as a platform for collaboration between the public and private sectors, academia, and the insurance industry. Under Cheng’s leadership, the organisation is poised to deepen its impact, turning strategy into tangible outcomes that address Asia’s evolving risk landscape. The GAIP community extends its warmest congratulations to Min Hung Cheng and looks forward to this new chapter under her leadership.

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New Relic appoints Manivannan Govindan to lead Asia sales

SINGAPORE: Observability platform New Relic has appointed Manivannan Govindan as its new Senior Director of Enterprise Sales for Asia. Based in Singapore, Govindan will join the company’s regional leadership team, working alongside Simon Lee, Senior Vice President of Asia Pacific and Japan; Rob Newell, Group Vice President of Customer Adoption; and Denis Maguire, Senior Director of Enterprise Sales for Australia and New Zealand. In this new role, Govindan will be responsible for driving strategic growth and ensuring customer success across the Asian market. His appointment signals New Relic’s ongoing commitment to expanding its footprint in Asia, amid rising demand for observability tools among enterprises seeking to modernise and optimise cloud investments. Govindan brings more than 25 years of experience in the monitoring and observability space, having held previous leadership roles at Cisco, Amazon, and CA Technologies. His deep industry knowledge and regional expertise will be pivotal as businesses across Asia Pacific increasingly adopt digital and hybrid cloud infrastructures. “Asia is a very promising market for New Relic,” said Simon Lee, SVP of Asia Pacific and Japan at New Relic. “There is tremendous growth potential across traditional enterprises looking to modernise, as well as digital natives requiring scale and agility. With extensive experience in the Asian observability market, I couldn’t be more excited to have Manivannan join the team and take our Asian business to new heights, while delivering real value for our customers.” The appointment comes as enterprises across Asia Pacific accelerate their digital transformation journeys, investing in cloud-native and hybrid solutions to remain competitive. According to Gartner, global end-user spending on public cloud services is expected to reach USD $723.4 billion in 2025, up from USD $595.7 billion in 2024. The firm also predicts that 90% of organisations will adopt a hybrid cloud strategy by 2027. The New Relic Intelligent Observability Platform is positioned to help businesses navigate these complex environments by providing real-time visibility across their tech stacks, reducing tool sprawl, and improving digital experience outcomes. “Customers in Asia are rapidly driving digital transformation and adopting multi-cloud and containerised applications, while retaining complex backends in hybrid architectures,” said Govindan. “New Relic is uniquely positioned to help Asian enterprises achieve visibility across their entire IT estates, ultimately helping them reduce complexity while ensuring the availability and performance of their digital services. I couldn’t be more excited to join the team and help demonstrate the power of the New Relic Intelligent Observability Platform.” Govindan’s appointment follows a series of recent updates from New Relic, including enhancements to its Intelligent Observability Platform and a reimagined Partner Program aimed at fostering ecosystem growth. The programme now includes stronger incentives, improved training modules, and more accessible certifications for partners. With over 20 new innovations and integrations, the platform’s latest updates leverage AI-powered insights to help enterprises improve uptime, manage cloud costs, and maintain business continuity.

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Russian Helicopters celebrates operators of Russian rotorcraft at LIMA 2025

LANGKAWI: Russian Helicopters, part of State Corporation “Rostec”, handed out awards to representatives of Malaysia’s Fire and Rescue Department (BOMBA) and its after-sales service provider, AIROD. For about 30 years, BOMBA has consistently used only Russian-made helicopters. The ceremony took place during the 17th International Maritime and Aerospace Exhibition LIMA 2025. Russian-built Mi-17 helicopters are widely used in Malaysia, forming the backbone of the Fire and Rescue Department’s fleet. One of these Russian-built helicopters from the Department’s fleet is on display at LIMA 2025. “These helicopters play a vital role in safeguarding Malaysia’s national interests. They help save lives and protect the country’s unique natural environment. Their consistent and trouble-free performance in tropical and maritime conditions is a testament to the reliability, safety, and efficiency of Russian helicopters,” commented Russian Helicopters. At the show, Russian Helicopters are also showcasing three models of rotorcraft: the Mi-171A3 helicopter, the Ka-32A11M firefighting helicopter, and the Ansat helicopter. The multi-purpose Mi-171A3 helicopter was developed to meet the needs of oil and gas companies. It is designed to transport people and cargo to offshore drilling platforms, and to carry out offshore search and rescue operations. The Ansat is a lightweight, versatile helicopter that offers high manoeuverability, a spacious convertible cabin, and ease of operation. The Ka-32A11M is the latest addition to the legendary Ka-32 family of helicopters. Operators from various countries agree that it is one of the best firefighting helicopters. The upgraded rotorcraft is fitted with a new Russian-made SP-32 water tank. With a capacity of up to 4 tonnes of water, it features digital controls and enhanced water intake and discharge ergonomics. The Langkawi International Maritime and Aerospace Exhibition (LIMA), the largest event of its kind in the Asia-Pacific region, has been held every two years since 1991.

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Royal Malaysian Navy Celebrates 25,000 Operational Flying Hours for AS555SN Fennec Fleet

LANGKAWI: The Royal Malaysian Navy (RMN) has achieved a significant operational milestone, recording 25,000 flying hours for its fleet of AS555SN Fennec helicopters. The achievement was commemorated in a ceremony held during the Langkawi International Maritime and Aerospace Exhibition (LIMA) 2025. Airbus Helicopters Vice President and Head of Sales & Marketing for Asia Pacific, Thomas Zeman, presented an award to Vice Admiral Dato’ Ts Shamsuddin bin Hj Ludin, Deputy Chief of the Royal Malaysian Navy, in recognition of the fleet’s operational excellence. In service since 2004, the RMN operates six AS555SN Fennec helicopters. The two-tonne multirole aircraft play a crucial role in the Navy’s air operations, primarily used for lead-in training and to support various naval missions. The milestone highlights the reliability and sustained performance of the Fennec fleet over two decades of service, underlining the Navy’s commitment to maintaining high operational standards in maritime aviation.

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POS Malaysia’s Q1 Losses Widen to RM41 Million

KUALA LUMPUR: POS Malaysia Berhad reported a first-quarter net loss of RM41 million for the period ended 31 March 2025, more than doubling the RM19 million loss recorded in the same quarter of FY2024. The group’s revenue rose 2% quarter-on-quarter to RM467.1 million, supported by improvements in the aviation and parcel segments. Aviation continued to show strong performance, driven by sustained demand for cargo handling, engineering services, and in-flight catering. The parcel segment posted modest gains, aided by enhanced service quality and reliability. However, logistics performance weakened due to marine asset maintenance and a slowdown in the automotive sector. The group aims to expand its third-party logistics (3PL) and freight forwarding services to strengthen this segment. Retail operations held steady year-on-year, with repositioning efforts underway to meet changing customer demands. Group CEO Charles Brewer said the results reflect continued operational improvements and affirmed the group’s commitment to long-term transformation despite the quarterly loss.

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TVET Push for Defence Youth Strengthened with LAKSAMANA 3.0

LANGKAWI: Yayasan Lembaga Tabung Angkatan Tentera (Yayasan LTAT) and the Malaysian Industry-Government Group for High Technology (MIGHT) today signed a Memorandum of Understanding (MoU) at the Langkawi International Maritime and Aerospace Exhibition 2025 (LIMA ’25), marking the continuation of the Latihan Kemahiran Anak ATM & Anak Veteran (LAKSAMANA) programme, first formalised in 2023. The LAKSAMANA programme is a strategic initiative under the Defence Industry’s Corporate Social Responsibility (CSR) framework, aimed at enhancing the technical skills of the Malaysian Armed Forces (ATM) youth through a structured training approach with guaranteed job placements — the “train and place” model. This ongoing collaboration between Yayasan LTAT and MIGHT — a national driver for high technology empowerment — is expected to strengthen the skilled workforce among the children of active and retired defence personnel, equipping them to navigate the digital era and the advancement of artificial intelligence (AI). The initiative is set to open career pathways in technology-intensive sectors such as oil and gas, aerospace, manufacturing, maritime, and energy, aligning with the nation’s Fourth Industrial Revolution (4IR) aspirations. Since the signing of the first MoU, the programme has produced numerous success stories. With the latest agreement, emphasis will be placed on enhancing skills training through upskilling and reskilling initiatives that are responsive to current industry needs and the nation’s ambition to build a highly skilled talent pool in the defence and technology sectors. The MoU was signed by Dato’ Dr. Mohd Nizar Haji Sudin, Chief Executive Officer of Yayasan LTAT, and En. Rushdi Abdul Rahim, President & CEO of MIGHT. The ceremony was witnessed by Datuk Seri Hj. Hasnol Zam Zam bin Hj. Ahmad, Secretary-General of the Ministry of Science, Technology and Innovation (MOSTI); General Tan Sri Dato’ Sri Azizan Ariffin RMAF (Retired), Member of Yayasan LTAT’s Board of Trustees and Co-Chair (Government) of MIGHT; Prof Emeritus Tan Sri Dr. Zakri Abdul Hamid; and Encik Mohammad Ashraf bin Md Radzi, Chief Executive of LTAT. Yayasan LTAT and MIGHT remain committed to leading high-impact skill development initiatives such as LAKSAMANA, and will continue to explore future programmes to cultivate a high-quality national workforce.

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