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In a major step forward for regional aerospace collaboration and cross-border economic integration, Pahang Aerospace City Development Berhad (PACDB), Baiyuzen Holding Sdn Bhd, and the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) today formalised a landmark Memorandum of Understanding (MoU) at the prestigious Dubai Airshow 2025. The ceremony, held at the Malaysian Pavilion, was attended by senior government officials, international investors, industry leaders and dignitaries. The signing was officially witnessed by the Malaysian Ambassador to the United Arab Emirates, H.E. Tengku Dato’ Sirajuzzaman Tengku Mohamed Ariffin, underscoring Malaysia’s strong diplomatic presence and commitment to strengthening global aerospace partnerships.   Advancing High-Impact Regional Aerospace Development The MoU sets out a comprehensive framework for collaboration focusing on major regional development pillars:   Accelerating Development of Pahang Aerospace City (PAC) PACDB will lead the transformation of Pahang Aerospace City into a next-generation aerospace and aviation hub featuring: – Aircraft Maintenance, Repair & Overhaul (MRO) – Aerostructure and advanced manufacturing industries – Space and satellite technology integration – Aviation training and talent development – Green, sustainable airport and mobility ecosystems   Strengthening IMT-GT Cross-Border Connectivity This collaboration aligns PAC’s strategic direction with IMT-GT’s regional agenda, supporting: – Enhanced aerospace supply-chain connectivity – Catalysing infrastructure financing – Technology transfer and innovation ecosystems – Integration of halal and green industry standards across IMT-GT member regions   Baiyuzen Holding’s Role in Strategic Investment Mobilisation As a recognised member of the IMT-GT Joint Business Council (JBC), Baiyuzen Holding will lead: – Multi-currency capital mobilisation – Private sector investment participation – International partnership facilitation – Corporate finance structuring including sukuk, MTN and project-based financing frameworks   Leadership Perspective Quote from Tok Muda Mukriz, Chairman of Baiyuzen Holding Sdn Bhd: “Baiyuzen Holding is proud to lead the strategic investment framework for this transformative initiative. With PACDB and IMT-GT, we are building a long-term foundation for a world-class aerospace hub that will unlock new economic value, attract global investors, and position Malaysia as a key player in the regional and international aviation landscape.” Strengthening Malaysia’s Position in the Global Aerospace Ecosystem This collaboration reinforces Malaysia’s commitment to future-ready aerospace development, strengthens the IMT-GT region’s competitiveness, and positions PAC as a strategic hub for international investment, technology partnerships and long-term industrial growth.

Pahang Aerospace City (PAC) captured international attention at the Dubai Airshow 2025 through a series of strategic partnerships that position Malaysia at the centre of the Indo-Pacific’s fast-evolving aerospace and space industries. In a period of accelerating global supply-chain diversification, PAC stood out as a new bridging point connecting technology from Europe, capital from the UAE, operational expertise from the US, space capabilities from Australia, and Southeast Asia’s growing industrial base. Analysts noted that PAC’s value lies in its geostrategic neutrality and connectivity, offering industry players a stable environment at the intersection of multiple regional markets. The new alliances — spanning software-defined satellites, Earth Observation platforms, AI airport operations, Advanced Air Mobility, and infrastructure investment — collectively point to PAC’s ambition to become ASEAN’s next major aerospace–space cluster. The launch of UMPSA | VERSUS – Pahang’s first Public University’s Venture Studio further elevated the narrative, positioning Pahang as a rising centre for frontier-tech talent and R&D commercialisation. Industry commentators described the move as: “Malaysia’s most significant aerospace entry point in more than a decade.” With follow-up missions already planned for Q1 2026, PAC is expected to accelerate its development into one of the Indo-Pacific’s most strategically relevant future-tech hubs.

In an industry often defined by margins, scale and rapid turnover, Leslie Gomez has built his career on a principle that balances ambition with responsibility: growth matters, but it is only sustainable when built on the right people and foundations. This philosophy was recognised at the ESG PLUS Awards 2025, where the Founder and Managing Director of The Olive Tree Group received the ESG Leadership Award for his people-centred approach to business expansion and leadership. Founded in 2003 with a single outlet, The Olive Tree Group has grown into a hospitality group operating 31 restaurants and venues across Malaysia and the region. Expansion has always been part of the vision — but never at the expense of culture, stability or long-term viability. For Leslie, scale is meaningful only when teams are supported, systems are sound, and leadership remains accountable at every level. A defining aspect of this approach lies in how Leslie manages a multi-generational workforce. With employees spanning different age groups, working styles and expectations, leadership has required both flexibility and structure. Younger team members contribute agility, innovation and fresh perspectives, while more experienced employees provide operational discipline, mentorship and continuity. Leslie’s role, as he sees it, is to ensure these strengths work in tandem — guided by clear SOPs, shared values and mutual understanding. Flexibility, in this context, does not mean the absence of standards. Instead, it allows systems to evolve in ways that support people while ensuring consistency in service, governance and performance. “It works both ways,” Leslie has often noted — leadership adapts, teams adapt, and accountability remains constant. These themes featured prominently during the ESG PLUS Leadership Dialogue, themed “The ESG Balancing Act: Profit, People & Planet in Today’s Economy,” where Leslie participated as a panelist alongside leaders from diverse sectors. Organised in conjunction with The Exchange Asia, the dialogue explored how ESG principles move beyond frameworks into everyday leadership decisions — particularly in people-intensive industries. During the discussion, Leslie shared insights from navigating industry disruptions, safeguarding livelihoods during uncertain times, and building resilient organisations through trust and communication. His perspective reinforced the idea that ESG leadership is not episodic, but continuous — reflected in how leaders listen, set boundaries, invest in talent and remain consistent in values even as the business scales. The ESG Leadership Award recognises individuals who embed environmental, social and governance considerations into the core of their business strategy. In Leslie’s case, this has translated into sustained investment in employee welfare, talent development, inclusive leadership practices and disciplined governance — enabling expansion that is both responsible and resilient. Accepting the award, Leslie emphasised that recognition is never individual. “Any growth we’ve achieved is only possible because of the people behind it — teams who believe in what we’re building and who show up every day with commitment and pride,” he shared. The ESG PLUS Awards 2025 convened over 300 corporate leaders, policymakers and industry stakeholders from across the region, celebrating those who exemplify Positive Leadership and a deeper understanding of sustainability. Hosted by The Exchange Asia, the platform continues to elevate conversations around responsible growth and long-term impact across Asia’s business landscape. Leslie Gomez’s journey underscores an important truth in today’s ESG conversation: expansion and ambition are not at odds with responsibility. When growth is anchored by the right people, clear systems and shared values, it becomes not just possible — but sustainable.

Bank Negara Malaysia (BNM) has issued a Discussion Paper on Asset Tokenisation in the Malaysian Financial Sector, seeking industry feedback on how digital versions of real-world and financial assets could reshape financial services in the country. BNM defines tokenisation as the conversion of physical or traditional financial assets into digital tokens that can be issued, traded and settled on programmable platforms. These tokens enable features such as instant (atomic) settlement, programmability via smart contracts, and composability, allowing different financial instruments to interact seamlessly. According to the central bank, these features have the potential to significantly improve efficiency, transparency and accessibility across Malaysia’s financial system. By embedding rules directly into digital assets, financial institutions could speed up settlement, reduce operational costs and offer more inclusive financing solutions. BNM stressed that the initiative is exploratory and does not introduce new regulations at this stage. Instead, the discussion paper invites feedback from banks, fintech firms and technology providers to identify practical use cases that deliver real economic value. Learning from Regional Peers BNM noted that other financial hubs are already experimenting with similar initiatives. Singapore’s Project Guardian involves more than 40 institutions testing tokenised assets, while Hong Kong’s Project Ensemble is developing wholesale settlement infrastructure. Malaysia’s approach mirrors these efforts, prioritising collaboration and experimentation before policy decisions are made. Why BNM Is Exploring Tokenisation BNM sees tokenisation as a way to modernise financial infrastructure. Traditional settlement processes can take days and require large liquidity buffers. Tokenisation could shorten settlement cycles, lower counterparty risk and free up capital. The use of distributed ledgers also enhances traceability, auditability and trust. Key Areas of Exploration The discussion paper highlights several areas where tokenisation could deliver tangible benefits: Supply chain financing: Tokenised invoice receivables could help SMEs access cheaper financing by leveraging the credit strength of large buyers, addressing a financing gap estimated at over RM101 billion. Treasury and liquidity management: Atomic settlement and programmable delivery-versus-payment processes could reduce pre-funding needs and improve capital efficiency. Islamic finance: Tokenisation could support Shariah-compliant structures such as murabahah and ijarah, while boosting liquidity in sukuk and Islamic investment products. Sustainability finance: Tokenised green and sustainability-linked instruments could embed verified impact data, reducing greenwashing and improving investor confidence. Programmable payment tokens: These could automate payments for government aid, escrow arrangements and milestone-based contracts. Trade and cross-border payments: Tokenised assets could enable real-time, 24/7 settlement, improving liquidity for exporters and importers. While real-world assets like property and machinery are acknowledged as future possibilities, BNM said early efforts will focus on familiar financial instruments within existing regulatory frameworks. Safeguards and Governance BNM outlined six key design considerations to ensure safety and trust. Participation will be limited to licensed financial institutions, with strong KYC and anti-money laundering controls in permissioned environments. The central bank also emphasised maintaining the “singleness of money”, ensuring that tokenised money remains fully interchangeable with traditional forms. BNM remains technology-neutral, focusing instead on resilience, security and interoperability. Next Steps The Digital Asset Innovation Hub (DAIH) will serve as a sandbox for pilots, supported by an Asset Tokenisation Industry Working Group to guide policy discussions. The roadmap spans 2025 to 2027, progressing from concept testing to live pilots, with regulatory decisions informed by real-world outcomes. BNM has invited public feedback on the discussion paper, with submissions due by 1 March 2026. Overall, the initiative signals BNM’s intent to prepare Malaysia’s financial system for a digital future—one that balances innovation with stability, inclusiveness and real economic value.

Capital A and Standard Chartered Malaysia have signed a letter of intent to explore the development and testing of a ringgit-denominated stablecoin under Bank Negara Malaysia’s Digital Asset Innovation Hub. The initiative marks Capital A’s first step into regulated digital assets, bringing together Standard Chartered’s banking infrastructure with Capital A’s business ecosystem. The parties will study potential wholesale use cases for digital assets. Under the proposed arrangement, Standard Chartered Malaysia would act as the issuer of the MYR stablecoin, leading its design, testing and deployment. Capital A and its group companies will focus on developing and piloting practical applications, including use cases for enterprise operations. The collaboration supports Malaysia’s push for responsible digital asset innovation and highlights how local-currency stablecoins could enhance liquidity, improve efficiency and enable new financial services. BNM’s Digital Asset Innovation Hub provides a controlled environment for regulators and industry players to test new ideas, with insights from the project expected to contribute to future policy and regulatory development. Both parties will now evaluate the technical, regulatory and commercial requirements under the hub before deciding on the next steps.

Validus has secured US$30 million in a Series D funding round led by Khazanah Nasional, Malaysia’s sovereign wealth fund, to support its regional growth plans. The fresh capital will be used to expand operations in Indonesia and Thailand, following the company’s exit from Singapore after selling its local business to GXS Bank, Grab’s digital bank, in April. Founded in 2015, Validus focuses on alternative financing for small and medium enterprises (SMEs) across Southeast Asia. To date, the company has disbursed more than US$5 billion in loans and operates a vertically integrated lending platform that combines supply chain financing, in-house credit analytics and institutional funding partners. Validus works closely with regional and international banks, as well as large corporates in Indonesia and Thailand, which together represent a supply chain financing market estimated at US$46 billion. The company noted that its Indonesia operations have been profitable for the past three years. The new funding will help scale operations and grow its loan book, with Validus targeting a doubling of loan volumes over the next three years. Avendus Capital served as the exclusive financial adviser for the transaction. Commenting on the funding, co-founder and group CEO Nikhilesh Goel said the partnership with Khazanah would strengthen Validus’ ability to deliver meaningful financing solutions to SMEs, while advancing its goal of promoting financial inclusion and economic growth across Southeast Asia.

An estimated 200,000 more small and medium enterprises (SMEs) are set to be exempted from e-invoicing after the government announced that the exemption threshold will be increased to RM1 million in annual revenue, starting in 2026. In a statement on Sunday, the Small and Medium Enterprises Association Malaysia (Samenta) said the higher threshold is a timely move that shows the government understands the real challenges faced by micro and small businesses, many of whom continue to struggle with increased costs and limited resources. Samenta national president Datuk William Ng explained that a large number of SMEs that now fall under the expanded exemption category are businesses operating with very tight margins and limited capacity to adopt new digital systems such as e-invoicing. “For these businesses, the government’s decision provides much-needed breathing room,” he said. “They are already dealing with rising operating costs, uncertainties in tariffs, stronger competition from foreign online sellers, and new compliance requirements. The exemption gives them time to stabilise, plan ahead, and make improvements gradually instead of rushing into digital processes they are not ready for.” Ng added that while the exemption eases pressure on smaller companies, it also supports Malaysia’s broader digitalisation agenda by ensuring that e-invoicing adoption progresses in a way that is practical, realistic, and considerate of different business capabilities across the SME sector. He reminded SMEs not to treat the exemption as a reason to delay technological upgrades entirely. “SMEs should use this extra time to tidy up their accounting processes, organise their financial records, and slowly adopt digital tools where possible,” he said. “Early preparation will not only make future e-invoicing compliance smoother but also help improve efficiency, cash-flow management and competitiveness.” Ng emphasised that the exemption window should be seen as an opportunity for businesses to strengthen their foundations and gradually transition into digital systems, rather than postponing change indefinitely.

Sarawak has channelled RM21.8 billion through its Alternative Funding (AF) initiative to accelerate key infrastructure projects across the state, said Second Minister for Finance and New Economy Datuk Amar Douglas Uggah Embas on Wednesday. He explained that the AF model was introduced to ensure important development projects can move forward without delays, allowing the state to fast-track critical infrastructure while maintaining strong financial stability. “So far, a total of 1,586 projects have been implemented under AF. Of these, 1,127 projects — or 71% — have been completed, while the remaining 459 are progressing at various stages,” he said during his winding-up speech for the State Budget 2026 debate at the Sarawak State Legislative Assembly. Uggah, who is also the deputy premier, said the AF mechanism has played a major role in transforming Sarawak’s physical and economic landscape as the state works towards high-income status under the Post-Covid Development Strategy (PCDS) 2030. Major AF-funded developments include the coastal road network, the second trunk road, the Sarawak Water Supply Grid (stressed areas), rural electrification programmes, and digital infrastructure projects such as the Sarawak Multimedia Authority Rural Telecommunication (SMART) towers and the Sarawak Rural Broadband Network. He added that AF also supports the development of educational facilities, such as Sarawak’s international schools, as well as projects undertaken by regional development agencies including the Upper Rajang Development Agency (URDA), Highland Development Agency (HDA), Northern Regional Development Agency (NRDA), and the Integrated Regional Samarahan Development Agency (IRSDA).

Tengku Datuk Seri Zafrul Abdul Aziz, former Minister of Investment, Trade and Industry (Miti), has been appointed as the new chairman of the Malaysian Investment Development Authority (Mida), effective Wednesday, the Prime Minister’s Office (PMO) announced. He will serve a two-year term, with additional responsibilities to be revealed at a later date. The Mida chairmanship had been vacant for over a year following the end of Tan Sri Dr Sulaiman Mahbob’s term in September 2024. Zafrul, a former banker turned government minister, first joined the administration in March 2020 as finance minister under the Perikatan Nasional government, continuing in the role under the Barisan Nasional-led administration until November 2022. Following the 15th general election, he was appointed a senator and Miti minister under Prime Minister Datuk Seri Anwar Ibrahim’s unity government, serving until Dec 2, 2025. Mida described Zafrul’s appointment as a strategic move to strengthen Malaysia’s investment promotion and development capabilities amid intensifying global competition. The agency highlighted his expertise in financial services, trade negotiations, government policy, and investment facilitation. During his tenure as Miti minister, Zafrul oversaw record-breaking investment inflows, with RM329.5 billion approved in 2023 and RM378.5 billion in 2024. In the first nine months of 2025, approved investments reached RM285.2 billion, a 13.2% increase compared with the same period last year, despite global economic challenges. “His appointment ensures continuity in our strategic direction while bringing fresh momentum to our operational priorities,” said Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid. “We are confident that his leadership will further enhance Malaysia’s position as a premier investment hub.”

Bank Negara Malaysia (BNM) has developed a long-term strategy to gradually reduce its ownership stake in Payments Network Malaysia Sdn Bhd (PayNet), the country’s primary payment infrastructure provider. The plan, confirmed by the Ministry of Finance (MOF), is aimed at fostering greater market competitiveness while ensuring that PayNet continues to play a central role in strengthening Malaysia’s digital payment ecosystem. According to the MOF, BNM’s move to pare down its shareholding aligns with the central bank’s broader objective of promoting a more dynamic, inclusive, and innovation-driven payments landscape. While the shareholding reduction will be phased over time, the ministry emphasised that it will not compromise the stability, security, or efficiency of the national payment system. The plan is structured to maintain a balance between encouraging private-sector participation and safeguarding public trust in the country’s financial infrastructure. In a written reply to the Dewan Rakyat on Wednesday, responding to a question by Aminolhuda Hassan (PH–Sri Gading) regarding the government’s review of BNM’s ownership in PayNet, the MOF highlighted that BNM currently holds a 35.5% stake in the company. As the largest shareholder, BNM continues to provide strategic direction and oversight, ensuring that PayNet delivers reliable, secure, and competitive digital payment services for both individuals and businesses. The ministry also noted that BNM’s phased reduction plan will be implemented with careful monitoring and governance, maintaining the resilience of the payment system while enabling greater private-sector participation and competition. This approach is expected to enhance the efficiency and inclusivity of digital payments in Malaysia, supporting the country’s broader economic and financial digitalisation goals. In summary, BNM’s measured plan to gradually reduce its stake in PayNet reflects a strategic effort to foster competition, innovation, and sustainability within Malaysia’s payment ecosystem, while ensuring that national payment infrastructure remains robust, secure, and accessible for all users.