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AirAsia X to Suspend Kuala Lumpur–Nairobi Route from September

KUALA LUMPUR : AirAsia X Bhd (AAX) will suspend its Kuala Lumpur–Nairobi service effective 1 September 2025, as part of an ongoing network optimisation exercise driven by lower-than-anticipated travel demand. The long-haul budget carrier confirmed that all affected passengers have been notified in advance and provided with a range of Service Recovery Options (SROs) to facilitate alternative travel plans. “These options include a full refund, conversion to a credit account, or a complimentary one-time flight change for travel on or before 31 August 2025,” AAX said in a statement issued via the AirAsia MOVE platform on Saturday. The airline emphasised that it continuously evaluates its route network and adjusts operations based on market trends and demand to maintain commercial sustainability and provide optimal value to its customers. AirAsia X launched its inaugural direct flight from Kuala Lumpur to Nairobi on 15 November 2024, establishing the first and only non-stop air connection between Malaysia and the African continent. The route currently operates four times a week. –The Edge Malaysia

Investment & Market Trends, News

Gold Futures Expected to Remain Cautious Amid Global Market Volatility

KUALA LUMPUR : Gold futures on Bursa Malaysia Derivatives are expected to remain volatile next week, as cautious sentiment continues to dominate amid persistent global uncertainties and a weakening bullish trend in safe-haven assets. In its weekly outlook, RHB Investment Bank Bhd highlighted that traders are likely to maintain a defensive approach, with the recent momentum in gold showing signs of softening. “We maintain a negative trading bias as downward pressure continues to mount,” the bank noted in its report. RHB projected immediate support for gold prices at US$3,200 per troy ounce, while resistance is expected around the US$3,400 level. On a week-on-week basis, the spot month May 2025 contract declined to US$3,274.10 per troy ounce from US$3,316.20 previously. Other active contracts, including June, July, August and October 2025, also recorded losses, settling at US$3,288.10 per troy ounce compared to US$3,332.80 the week before. Trading activity also softened, with total volume contracting to 352 lots from 871 lots in the previous week. Open interest fell to 40 contracts from 88, indicating a more reserved stance among market participants. According to the London Bullion Market Association’s afternoon fix on 1 May, physical gold was valued at US$3,214.75 per troy ounce. –Bernama

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STB Forms Strategic Marketing Partnership to Boost Sarawak’s Presence in West Asian Market

KUCHING: The Sarawak Tourism Board (STB) has formed a strategic marketing partnership with Brunei Tourism and Royal Brunei Airlines, aiming to enhance Sarawak’s appeal to West Asian and Indian travellers. This collaboration was announced during the Arabian Travel Market (ATM) 2025 held in Dubai, United Arab Emirates (UAE), from April 28 to May 1. In a statement released on Friday, STB highlighted the partnership’s focus on promoting Sarawak as an ideal holiday destination by capitalising on increased flight frequencies connecting Dubai, Brunei Darussalam, and Kuching. These developments will enable seamless travel between these regions, supported by Royal Brunei Airlines. The Dubai-Brunei route now operates three times a week, while the Brunei-Kuching service runs four times a week, offering convenient access to Sarawak’s stunning natural beauty and rich cultural heritage. Sharzede Salleh Askor, Chief Executive Officer of STB, expressed confidence that the growing international visibility of Sarawak underscores the Board’s commitment to promoting sustainable tourism experiences. He noted that the collaboration strengthens regional ties and enhances accessibility for travellers from the Gulf Cooperation Council (GCC) and India, offering unique, Muslim-friendly travel options rooted in nature and culture. At ATM 2025, the Sarawak Tourism Board also hosted a Business-to-Business and Latest Product Development session, attracting 50 travel agents from Dubai, UAE, and other GCC countries. –Astro Awani

News, Property

TCS Secures DBKL Approval to Resume J. Satine Construction Following Safety Review

KUALA LUMPUR : TCS Group Holdings Bhd’s wholly owned subsidiary, TCS Construction Sdn Bhd, has received clearance from Kuala Lumpur City Hall (DBKL) to resume construction of the J. Satine mixed development in Wangsa Maju, following a positive safety assessment. In a filing with Bursa Malaysia, the company confirmed that DBKL has granted approval for work to recommence on Phase 3 (SOHO Block) and Phase 2 (Blocks A and B) of the project. This decision follows DBKL’s review and acceptance of findings from an independent check consultant’s report, which verified that the site met the required safety and stability standards. Construction on Phase 1 (Blocks C and D) will continue once ongoing foundation strengthening works are completed and independently verified. TCS Director Datuk Tee Chai Seng welcomed the decision, stating that it reflects the company’s dedication to meeting safety requirements and maintaining construction integrity. “We are pleased with DBKL’s approval, which recognises the positive findings regarding the project’s structural stability and safety. This allows us to progress with construction while upholding our unwavering commitment to quality and compliance,” he said. Datuk Tee added that TCS will continue to work closely with relevant authorities and stakeholders to ensure all conditions set forth by DBKL are met. The project was temporarily suspended on 9 November 2024 following a site explosion, prompting DBKL to issue a stop-work order pending a full investigation. –Bernama

News

inDrive in Regulatory Talks After Licence Revocation Notice in Malaysia

KUALA LUMPUR : Global e-hailing platform inDrive has confirmed it is in discussions with Malaysian regulators after receiving a notice from the Land Public Transport Agency (APAD) to revoke its Intermediation Business Licence (IBL), citing non-compliance with regulations introduced in 2019. According to reports, APAD has issued the company a three-month window to return its IBL. In response, inDrive said it has proactively initiated dialogue with the relevant authorities to clarify the basis of the notice and to explore avenues to maintain uninterrupted service for its users. “We are committed to providing safe, reliable, and accessible mobility solutions to the tens of thousands of people across Malaysia who rely on our platform daily,” the company said in a statement to national news agency Bernama. “As a global mobility and urban services platform, inDrive operates with the utmost respect for local regulations and the communities it serves.” The company assured that further updates would be provided as discussions progress and greater clarity is obtained. It also expressed gratitude for the ongoing support and understanding of its Malaysian user base. The development comes amid heightened regulatory scrutiny of foreign e-hailing operators in Malaysia. A similar notice was issued to another Russian-founded firm, Maxim, in 2023. Founded in 2013 in Yakutsk, Russia, by current CEO Arsen Tomsky, inDrive—formerly known as inDriver—is now headquartered in California and operates in over 700 cities worldwide. –Bernama

Investment & Market Trends, News

Malaysian Rubber Market Eyes Modest Rebound on Chinese Stimulus Hopes

KUALA LUMPUR : The Malaysian rubber market is poised for a modest rebound next week, supported by renewed optimism stemming from potential economic stimulus measures by China, according to the Malaysian Rubber Glove Manufacturers Association (MARGMA).   The Association of Natural Rubber Producing Countries (ANRPC) has forecast a 1.5% increase in global natural rubber (NR) consumption in 2025, reaching approximately 15.6 million tonnes, contributing to the improved market outlook. “A tight supply outlook in key producing countries is likely to provide additional price support,” a MARGMA spokesperson told Bernama. However, the association cautioned that the lack of progress in US-China trade negotiations continues to cast a shadow over global sentiment. “Rubber prices are expected to remain closely aligned with movements in regional rubber futures markets, alongside fluctuations in the ringgit against the US dollar and global crude oil prices,” the spokesperson added. Industry veteran Denis Low noted that ongoing geopolitical uncertainties, particularly those stemming from policies under former US President Donald Trump’s administration, have contributed to volatility in the market. “We are navigating an increasingly fluid and complex global economic landscape. Businesses must continue to remain agile in response to the evolving challenges shaped by international policy shifts,” he said. On a weekly basis, the Malaysian Rubber Board reported that the reference price for Standard Malaysian Rubber 20 (SMR 20) declined by 14.5 sen to 738.0 sen per kilogramme (kg), while latex in bulk dropped 16.5 sen to 609.0 sen per kg. –Bernama

Investment & Market Trends, News

CPO Futures Expected to Remain Subdued Amid Rising Stocks, Weak Demand

KUALA LUMPUR : The crude palm oil (CPO) futures market is likely to maintain a downward bias next week, weighed by expectations of rising domestic stock levels and subdued export demand. According to palm oil trader David Ng, local inventories are anticipated to climb as Malaysia enters its peak harvesting season, a period typically associated with increased production. “Export demand remains soft, especially from major markets like India and China, which are approaching purchases cautiously due to ample global vegetable oil supply and price competitiveness from alternatives such as soybean and sunflower oil,” he said. He added that sentiment in the market is currently cautious, with traders awaiting key export and production figures. “Unless there is a notable shift in demand or new policy developments from key importing nations, the market is expected to remain subdued in the near term,” he said, forecasting that prices may trend within the RM3,750 to RM3,900 per tonne range next week. For the week ended Friday, the spot month May 2025 contract dropped RM219 to RM3,920 per tonne, while June 2025 declined RM150 to RM3,907 and July 2025 eased RM176 to RM3,881. August 2025 was down RM164 at RM3,883, September 2025 declined RM151 to RM3,888, and October 2025 settled RM138 lower at RM3,891. Weekly trading volume contracted to 240,534 lots from 410,686 the previous week, while open interest dipped to 232,901 contracts from 239,139. The physical CPO price for May South fell RM180 to RM4,020 per tonne. –Bernama

News

Chubb Appoints Janene Blizzard as Head of Accident & Health for Asia Pacific

Senior leader with 30 years of insurance experience, 16 years with Chubb SINGAPORE Chubb announced today the appointment of Janene Blizzard as the Head of Accident & Health (A&H) for Asia Pacific, effective 1 June 2025. In this role, she will l:ead the strategy, growth, and performance of Chubb’s A&H portfolios across the region. Based in Singapore, Blizzard will report to Marcos Gunn, Regional President, Asia Pacific, with a matrix reporting line to Daniela Hernandez, Division President for International A&H, Overseas General Insurance. On announcing Blizzard’s appointment, Gunn said, “Janene is an exceptional leader with deep A&H experience. Her proven track record of cultivating high-performing teams whilst maximising portfolio profitability will be key in delivering our ambitions for the A&H business across the Asia Pacific region.” Hernandez added, “We are thrilled that Janene is joining our team in Asia Pacific. Her collaborative approach with partners and focus on client needs will boost our ability to deliver innovative solutions that meet the evolving priorities of our clients and partners.” Blizzard has over 30 years’ experience in the insurance industry, joining Chubb in 2008 as an Accident & Health Corporate Underwriter. Since then, she has progressively advanced through senior leadership positions to her most recent role as SVP, Chief Operating Officer for International Accident & Health. Hashtag: #Chubb The issuer is solely responsible for the content of this announcement. About Chubb Chubb is a world leader in insurance. With operations in 54 countries and territories, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb employs approximately 43,000 people worldwide. Additional information can be found at: www.chubb.com.

News

Labuan FSA appoints BNM’s Affendi Rashdi as director general

LABUAN: Labuan Financial Services Authority (Labuan FSA) has announced the appointment of Bank Negara Malaysia (BNM) chief services officer Affendi Rashdi as its director general for a two-year term, from May 1, 2025 to April 30, 2027. The appointment was made by the Ministry of Finance (MOF), Labuan FSA said in a statement on Thursday. Affendi brings over two decades of experience in financial sector development, policy, and institutional services. At BNM, he held senior roles, including director of the finance department, and was part of the Financial Sector Blueprint team. He also contributed to the corporatisation of Bank Pertanian Malaysia Bhd (Agrobank), the establishment of Small Medium Enterprise Development Bank Malaysia Bhd, and the review of the Development Financial Institutions Act 2012. Labuan FSA said Affendi holds degrees from Harvard University and Universiti Teknologi MARA, and is a member of several professional accounting bodies. The board thanked outgoing director general Nik Mohamed Din Nik Musa, whose term ended on April 30, 2025, for his contributions to the Labuan IBFC’s growth. “With the appointment of Affendi Rashdi as the new director general, Labuan FSA is confident that the centre will continue to innovate and grow, building on its success and further strengthening its position as a preferred financial centre in Asia,” it said.–BERNAMA

Energy & Technology, News

Maxis Expands Fibre Coverage in Penang, Targets 100,000 Homes by 2027

KUALA LUMPUR : Maxis Bhd has announced the expansion of its fibre network in Penang, with the goal of connecting over 100,000 homes across the state by 2027. The rollout will span all districts in Penang, with priority given to high-density urban areas such as Jelutong, Georgetown, Batu Maung, Bayan Lepas, and Bayan Baru, along with several key sites on the mainland. This expansion aligns with the Penang 2030 vision, which aims to transform the state into a family-focused, green, and smart region. Chief Minister Chow Kon Yeow said the initiative will enhance the state’s digital infrastructure, supporting talent development, economic growth, and digital inclusion. “High-quality internet connectivity is essential for Penang’s continued rise as a regional technology and innovation hub,” he said. Maxis CEO Goh Seow Eng noted that the project will enhance service delivery and enable broader digital participation. “With our own fibre network, we can ensure consistent service quality, offering fast, secure, and reliable connectivity,” he said. The company’s expansion in Penang is supported by the state’s Last Mile Connectivity Guidelines—Malaysia’s first such initiative—which streamlines pole-sharing and accelerates fibre deployment across providers. Maxis currently operates a fibre network exceeding 23,000km nationwide, with the capacity to serve over 500,000 homes. Its own-built infrastructure is further complemented by access partnerships with other providers, extending its reach to households across Malaysia.

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