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CIMB Group is preparing to issue tokenised bonds and sukuk as Malaysia’s regulators move forward with securities tokenisation. The group said it plans to develop tokenised financial services covering assets, settlement and payment infrastructure under the Securities Commission Malaysia’s (SC) industry pilot programme on securities tokenisation. The initiatives will be introduced in phases. CIMB is also engaging with Bank Negara Malaysia (BNM) to seek participation in the Digital Asset Innovation Hub. Group chief executive officer Novan Amirudin said the group is pleased to take a leading role in supporting the development of a modern and resilient financial market infrastructure in Malaysia. “In line with our purpose of advancing customers and society, as well as our Forward30 strategic plan, we are strengthening our digital and tokenisation capabilities to unlock real opportunities and broaden market access across the financial ecosystem,” he said. As an initial step, CIMB has committed to participate in the tokenised sukuk issuance pilot by Khazanah Nasional Bhd and the Securities Commission. The bank will support the programme across structuring, execution, custody arrangements and lifecycle servicing, with the pilot expected to run until 2026. CIMB noted that it has issued approximately RM40 billion worth of conventional bonds and Islamic sukuk in Malaysia over the past three years. As its digital asset capabilities mature, the group intends to raise part of its future funding through tokenised bond and sukuk issuances. The bank said its tokenisation efforts are aimed at improving efficiency in payments and capital markets. It is also developing capabilities to support tokenised deposits for settling tokenised securities. According to CIMB, tokenised deposits could reduce manual processing and reconciliation while enhancing transparency and operational efficiency. Novan said well-designed asset tokenisation has the potential to transform the industry by improving accessibility, efficiency and transparency, particularly in payments and wholesale banking. “We will start with practical, use-case-driven applications within regulatory frameworks and supported by strong governance and controls. Through close collaboration with partners such as Khazanah, we aim to scale innovation responsibly and deliver tangible value to the market,” he said. CIMB added that it is working closely with BNM and the Securities Commission to ensure alignment with regulatory requirements, noting that any product rollout will be subject to legal, internal approval and technology readiness conditions.

The Land Public Transport Agency (APAD) has approved e-hailing platform inDrive to continue operating in Malaysia after completing its three-month licensing review. inDrive Malaysia driver operations manager Azlan Anwar. The approval comes after inDrive improved internal processes, document management, and regulatory compliance. APAD’s decision reflects confidence in the company’s adherence to local regulations, allowing it to continue supporting thousands of drivers across the country. inDrive Malaysia driver operations manager Azlan Anwar said the platform’s low commission structure helps drivers earn more and sustain their livelihoods. The company plans to expand its presence through improved onboarding, document verification, internal audits, and driver-support initiatives, including its inDrive Academy and accessibility-focused programs. The approval follows a regulatory warning issued in April over non-compliance with e-hailing vehicle permit requirements, after which inDrive implemented corrective measures. Since entering Malaysia in 2021, inDrive has introduced a peer-to-peer pricing model for ride bookings, a first in the country.

CTOS Digital Bhd is selling its entire 26% stake in Experian Information Services (Malaysia) Sdn Bhd to Experian (Malaysia) Sdn Bhd for RM80 million in cash. CTOS acquired the stake in 2019 for RM56.2 million. The disposal is expected to generate a one-off gain of about RM18 million, which could boost earnings per share by roughly 30% based on the group’s nine-month results ended Sept 30, 2025. The sale was completed through CTOS subsidiaries Enfo Sdn Bhd and CTOS Insights Sdn Bhd. Following the transaction, Experian Information Services will no longer be an associate of CTOS. CTOS said the move supports its strategy to streamline investments and focus capital on core businesses and future growth. Of the RM80 million proceeds, RM49 million will be used to repay borrowings, RM1.6 million for capital gains tax, and RM29.4 million for working capital and other corporate purposes. The debt repayment is expected to improve the group’s gearing ratio from 27% to about 20% upon completion.

Muhibbah Engineering (M) Bhd has secured a contract from PETRONAS Carigali Sdn Bhd to carry out minor engineering, procurement and construction (EPC) works for wellhead platforms under the Sepat Integrated Redevelopment Project offshore Terengganu. In a filing with Bursa Malaysia, the group said the offshore project, located northeast of Kuala Terengganu, is valued at between RM700 million and RM850 million. The contract is scheduled to commence in December 2025 and is expected to be completed by the first quarter of 2029. Muhibbah said the contract is expected to contribute positively to the group’s earnings and net assets over the duration of the project, with no impact on its share capital or shareholding structure. The award continues Muhibbah’s track record with PETRONAS Carigali. In November 2023, the group secured a RM318 million contract as consortium lead for the Gansar project offshore Terengganu, following an earlier RM322 million contract awarded in December 2022 for works related to the same project. Shares in Muhibbah closed half a sen higher, or up 1%, at 50.5 sen on Thursday, giving the group a market capitalisation of RM366.6 million. The stock has declined 36.1% year to date.

Starting as a small fundraiser nearly 40 years ago, Carlsberg Malaysia’s Top Ten Charity Campaign (Top Ten) has grown into a nationwide initiative supported by Parent-Teacher Association (PTA) committees, donors, media partners, and the public, all united in strengthening vernacular education. Since 1987, Top Ten has raised a total of RM600 million, including RM14.8 million raised this year alone, cementing its role as Malaysia’s longest-running and most impactful Chinese education charity platform. “Vernacular schools are vital in shaping Malaysia’s multicultural education system, providing future leaders with quality education. Many schools rely on public donations to maintain and upgrade facilities—a cause Top Ten has championed for nearly four decades,” said Pearl Lai, Corporate Affairs & Sustainability Director of Carlsberg Malaysia. Top Ten has benefited over 700 schools across Peninsular Malaysia and Sabah, improving learning environments with upgraded facilities, AI-enabled smart classrooms, and more. Beyond education, the campaign fosters community unity, bringing together parents, artistes, and partners for the shared mission of securing children’s futures. Datuk Haw Chin Teck, Chairman of SJKC Chung Hwa Sungai Sendok in Johor, the top fundraising school this year, said, “The proceeds have allowed us to enhance facilities and create a better learning environment. Top Ten is more than fundraising; it brings communities together to support our children’s education.” Permanent Honorary Chairman Mr. Tan Cheng Teng highlighted Lahad Datu Middle School’s three-year involvement with Top Ten, raising RM6 million to redevelop a single-storey building with labs, offices, a dance studio, and a cooking room, greatly improving teaching and activity spaces. In recent years, Top Ten has extended support to higher education institutions such as UTAR Hospital. Yang Berbahagia Ir. Professor Dato’ Dr. Ewe Hong Tat, UTAR President, said, “Funds raised have improved teaching facilities, medical equipment, and patient care. We thank Carlsberg Malaysia for their continued support, which has enhanced learning and healthcare for future medical officers.” Pearl Lai, Director of Corporate Affairs and Sustainability of Carlsberg Malaysia, delivering her address at the Top Ten Charity Concert 2025. Championing Green FuturesTop Ten also promotes environmental responsibility through its Go Green initiative, engaging nine schools nationwide in sustainability projects. Students have produced over 228 litres of eco-enzymes and nearly 538 kg of eco-bricks, gaining practical environmental knowledge and fostering climate-conscious habits. “Education and sustainability go hand-in-hand. Through Top Ten, we are nurturing the next generation to build a greener, better, and brighter Malaysia,” said Lai. This milestone underscores Carlsberg Malaysia’s long-standing commitment to education, community support, and sustainability. Through its Together Towards ZERO and Beyond programme, the brewer continues to advance initiatives aligned with UN SDG 4 (Quality Education) and SDG 13 (Climate Action), creating lasting impact for communities and the environment.

U Mobile, Malaysia’s newest 5G network provider, has partnered with IGB Berhad in its largest in-building 5G deployment to date. The collaboration will bring next-generation 5G connectivity to 20 IGB properties nationwide, including iconic malls such as Mid Valley Megamall, The Gardens Mall in Kuala Lumpur, and The Mall, Mid Valley Southkey in Johor Bahru. From left to right: How Lih Ren, Chief Business Officer of U Mobile, Kenneth Chang, Deputy Chief Executive Officer of U Mobile, Tan Mei Sian, Deputy Group Chief Executive Officer of IGB Berhad, Tan Yee Seng, Head of Group Property Development of IGB Berhad The rollout covers more than 70% of IGB’s high-traffic locations across retail, commercial, and hospitality segments, enabling seamless indoor 5G access for tenants, visitors, and building management operations. Enhanced connectivity will support smart building solutions, improved security, AR/VR experiences, and personalised promotions. U Mobile will also provide 5G access to other telcos, ensuring all users enjoy high-speed indoor coverage. Kenneth Chang, Deputy CEO of U Mobile, said:“We are excited to expand our 5G network indoors, improving building operations and enhancing the digital experience for tenants and visitors. This partnership is just the start of more network deployments across Malaysia in the coming months.” Tan Mei Sian, Deputy Group CEO of IGB Berhad, added:“Deploying U Mobile’s 5G across our properties strengthens operational efficiency and future-proofs our assets while enhancing the connected experience for our tenants, visitors, and customers.” The 20 IGB properties receiving 5G coverage include: Retail: Mid Valley Megamall, The Gardens Mall, The Mall, Mid Valley Southkey Offices & Residences: Menara Southpoint, The Gardens North & South Towers, Menara IGB & Annexe, Centrepoint North & South, Boulevard Offices & Retail, G Tower, Menara Tan & Tan, Hampshire Place Office, North & South Towers Mid Valley Southkey Hotels: St Giles Gardens, St Giles Boulevard, Cititel Mid Valley, St Giles Southkey, St Giles Wembley The deployment is expected to improve operations, tenant satisfaction, and visitor experience while supporting Malaysia’s broader digital transformation agenda.

About €2.75 billion in agricultural export earnings is at risk for East Africa as global markets tighten rules on traceability and sustainability. Exporters are now required to show clear proof of where and how their products are produced, yet only 15% of agribusinesses in the region are aware of these new requirements, according to the 2024 Danish Industry Report. Most producers still lack digital traceability systems, putting access to high-value markets—particularly the European Union—at serious risk. Agriculture remains the backbone of East Africa’s economy, contributing 32% of GDP and employing more than 80% of the population. However, exports such as coffee, cocoa, tea, cereals, horticulture products, oil crops, rubber, and timber are facing increased scrutiny across Uganda, Kenya, Tanzania, Ethiopia, Rwanda, and Burundi. The pressure has intensified with the enforcement of the EU Deforestation Regulation (EUDR) and the Corporate Sustainability Due Diligence Directive (CSDDD). These rules require exporters to provide verifiable proof of legal origin, deforestation-free sourcing, and full supply-chain transparency. They apply broadly across agricultural exports, not just high-risk commodities. While these regulations aim to promote sustainability, they have exposed a major readiness gap. The Danish Industry Report shows that 65% of companies need clearer guidance, 57% require practical compliance frameworks, and 52% lack access to digital tools needed to comply. The impact is already visible—The Guardian reported in 2024 that some EU buyers have slowed or reduced purchases from East African suppliers due to compliance uncertainty, especially in supply chains dominated by smallholders. Despite the risks, many businesses still view digital traceability as costly. In reality, the greater cost lies in losing access to premium markets. Adoption remains slow due to low digital literacy, limited smartphone access, weak internet connectivity, fragmented systems, and data privacy concerns. Speaking at KOLTIVA’s Beyond Traceability Talks webinar, Susan Atyang, Regional Program Manager at the Agricultural Business Initiative (aBi), said traceability is essential for competitiveness, market access, and financial inclusion. She noted that aBi supports organisations only after assessing readiness factors such as audited accounts, return on investment, farmer reach, and compliance systems—highlighting that traceability is now a business necessity, not an optional add-on. Misconceptions also remain about smallholder farmers’ ability to adopt digital tools. Waithera Muriithi, Strategy & Innovation Lead at Café Africa Uganda, challenged this view, saying the real issue is awareness, not capability. When farmers understand the benefits, adoption improves. Café Africa is supporting national efforts such as EUDR task forces and the creation of data warehouses to streamline compliance. Still, major challenges persist. Over 75% of agriculture in Ethiopia, Kenya, Tanzania, and Uganda depends on smallholders, many of whom lack formal land documentation required for geolocation verification. Fragmented supply chains with multiple intermediaries make consistent data collection difficult. Internet penetration stands at just 28.5%, far below the global average of 67.9%, and 80% of smallholders live below the poverty line, making it unrealistic to place the full cost of compliance on farmers. According to Fanny Butler, Senior Head of Markets EMEA at Koltiva, sustainability is impossible without traceability—and demand will only increase. She stressed that shared-cost models are essential, where buyers subsidise onboarding, suppliers ensure data quality, and development partners co-finance mapping. Early adopters, she added, will gain a clear competitive advantage. Adding a global perspective, Manfred Borer, CEO and Co-Founder of Koltiva, said East Africa has strong resources and global demand but needs coordinated readiness. Traceability, he noted, is no longer optional—it is the price of entry into the world’s most valuable markets. Experts agree that progress depends on three key actions: increasing regulatory awareness across supply chains, verifying source-level data such as geolocation and deforestation risk, and deploying digital tools suited to rural conditions. East Africa is expected to contribute 19% of additional global agricultural production over the next decade, according to OECD–FAO projections. However, unlocking this potential depends on how quickly exporters, processors, cooperatives, and governments close the compliance gap. As sustainability rules tighten, the region faces a clear choice: strengthen competitiveness through traceability—or risk shrinking access to global markets.

Carlo Rino Group Berhad, a leading Malaysian designer fashion brand, will take part in Malaysia Brand Day 2026, a government-endorsed exhibition supported by the Prime Minister’s Office and relevant agencies. The event will feature more than 300 exhibitors from 16 industries. Through its participation, Carlo Rino is showcasing its strong growth ambitions and positioning itself as an attractive opportunity for both local and international investors. Founded in 1986, Carlo Rino has built a strong brand identity centred on young, fun, bold and colourful fashion. Today, the brand appeals to young urban women and middle-income professionals, with a presence across Malaysia and more than 62 countries, including Vietnam, Indonesia, China and the Middle East. The brand’s success is driven by its focus on quality, innovation and functionality, while staying aligned with the latest fashion trends. Its versatile product range balances femininity and practicality, offering styles that transition seamlessly from day to night to suit modern lifestyles. Building for future growth, Carlo Rino is supported by several key strengths: Omni-channel presence: The Group operates through a mix of branded boutiques, department store counters and a growing e-commerce platform. Strong e-commerce expansion: Online sales continue to grow, supported by Carlo Rino’s own platform and partnerships with Lazada, Shopee and TikTok, enabling cost-efficient international reach. Retail optimisation: The Group plans to refurbish existing outlets and open new boutiques to enhance customer experience and improve margins. Its recent transfer to the ACE Market of Bursa Malaysia further strengthens its corporate governance and access to capital. Middle-class focus: Carlo Rino is well-positioned to capture demand from the expanding middle-class market in Malaysia and Southeast Asia. Managing Director Dato’ Sri Chiang Fong Yee said the brand has continued to grow despite market challenges by staying true to its identity and focusing on quality and relevance. He added that with a clear omni-channel strategy and targeted expansion plans, Carlo Rino is well-placed to strengthen its position as a regional fashion brand and welcomes partners to join its next phase of growth. Investors and media are encouraged to review Carlo Rino’s recent corporate developments and financial performance, which highlight the Group’s operational strength and long-term growth potential in the fashion retail sector.

Carlsberg Malaysia held its second Supplier Day, in conjunction with International Human Rights Day, the event underscored Carlsberg Malaysia’s alignment with the newly launched Malaysia National Action Plan on Business & Human Rights (NAPBHR) 2025–2030, alongside the Company’s refreshed Human Rights Global Policy. The initiative emphasizes ethical labour practices, transparency, and accountability across the value chain, promoting responsible business growth. More than a single event, Supplier Day marks a significant step in realizing Carlsberg Malaysia’s sustainability ambition, “Together Towards ZERO & Beyond” — embedding human dignity, fair labour practices, and shared accountability as non-negotiable standards in every business relationship. “We are advancing from ‘what we do’ to ‘how we do it,’ placing people at the heart of our business,” said Stefano Clini, Managing Director of Carlsberg Malaysia. “Our ambition is clear: to build a value chain that is sustainable, inclusive, and people-centric — one where every individual, regardless of their role, is treated with dignity, fairness, respect, and compassion.” To turn policy into practical action, the Company introduced its Human & Labour Rights Starter Kit and Self-Assessment Framework to over 60 suppliers. These tools equip suppliers to identify, assess, and address key risks, strengthen governance, and close gaps in labour and human rights management. Designed as enablers rather than enforcement mechanisms, they foster continuous improvement through shared learning and mutual accountability. Industry insights were reinforced through thought-leadership discussions led by Carlsberg Malaysia’s senior management, alongside experts from the United Nations Development Programme (UNDP) and KPMG Malaysia. These sessions explored how businesses can go beyond compliance to embed human and labour rights into everyday decision-making — from procurement practices to value chain oversight. “Integrating human rights governance into risk management and operational processes is increasingly recognised as a global best practice. Malaysian companies should begin assessing their exposure to human rights risks to strengthen competitiveness and meet stakeholder expectations,” said Koh Ree Nie, Head of ESG Reporting and Assurance, KPMG Malaysia. The event also created a platform for open dialogue with suppliers, reinforcing the shared responsibility to uphold ethical standards. Suppliers committed to elevating labour practices, improving transparency, and aligning operations with Carlsberg’s expectations. “Events like Supplier Day create space for open dialogue and collective learning,” said Roisin Quinn, Managing Director of One Complete Solution Sdn. Bhd., a SEDEX member, upon receiving recognition at the event. “It reflects Carlsberg Malaysia’s commitment to true collaboration — working with us beyond setting expectations, strengthening trust, and giving us actionable guidance on aligning human and labour practices.” In today’s global business environment, stakeholders — from regulators to communities — increasingly demand transparency, accountability, and respect for human and labour rights throughout the value chain. Through two consecutive years of supplier engagement, Carlsberg Malaysia is reaffirming its commitment not only to brewing excellence but also to people-first, sustainable, and ethical business practices.

Sehgal brings over 20 years of leadership experience across digital banking, product strategy, retail credit, risk management, and data analytics. He has held senior roles in Singapore, Malaysia, the Philippines, Vietnam, Cambodia, and the United States, with a proven record in building digital businesses, scaling financial institutions, and developing credit and risk management ecosystems. Currently, he serves as Senior Managing Director of Digital Business at CIMB Bank Malaysia and is a board member of CIMB Bank Cambodia, overseeing the bank’s regional digital operations and strategic initiatives. He previously held the role of Chief Business & Strategy Officer at CIMB Bank Philippines, where he helped the bank become a leading digital institution through the development of end-to-end digital products, ecosystem partnerships, AI-driven credit decisioning, and fraud and collections systems. Earlier in his career, Sehgal held senior positions at AmBank Group Malaysia, OCBC Bank Singapore, United Overseas Bank Singapore, and JP Morgan Chase, leading teams in risk management, credit, collections, fraud operations, data analytics, IFRS9 compliance, and portfolio management. Notably, he also executed one of Malaysia’s largest retail debt-sale transactions and implemented regional credit infrastructure and risk-based strategies. Commenting on his appointment, Ankur Sehgal said, “I am honoured to join CTOS at this important stage of its growth. CTOS plays a crucial role in promoting financial inclusion, responsible lending, and digital trust. I look forward to collaborating with the Board and leadership team to strengthen the company’s capabilities and deliver long-term value.”