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Kuantan International Airport in Gebeng is expected to be completed by 2031, according to Pahang investment, industries, science, technology and innovation committee chairman Nizar Najib. He said the project is currently in the process of finalising its technical requirements, implementation framework and the participation of strategic investors. Speaking at the Pahang state assembly, Nizar said the airport development remains subject to strict compliance with technical and regulatory standards set by federal agencies, including the Civil Aviation Authority of Malaysia and the transport ministry. Pahang investment committee chairman Nizar Najib said the airport would be built through private financing without involving state or federal government funds. He explained that the project must meet various international aviation standards covering safety, regulations and flight operations before construction can proceed. “The state government wants to ensure the project is carefully planned based on actual capabilities, with strong emphasis on regulatory compliance, investment viability and transparent governance,” he said. Nizar was responding to a question raised by Tuan Ibrahim Tuan Man regarding the status of the airport project, which was previously expected to begin operations this year. He added that the high-impact infrastructure project would be fully financed through private investments without involving state or federal government funding. The airport will be developed on land owned by the Pahang state government. According to Nizar, the scale and long-term importance of the project require detailed planning, as the airport is expected to operate for between 50 and 100 years. “There is no need to rush because this is a multi-billion-ringgit asset. From the state government’s perspective, the project is progressing smoothly and, God willing, the developer will make an important announcement soon,” he added.

CIMB Bank Bhd and CIMB Islamic Bank Bhd have stepped up support for micro, small and medium enterprises (MSMEs) impacted by the ongoing Middle East conflict through the introduction of the SME Stabilisation Relief Facility (SRF). The initiative is part of Bank Negara Malaysia’s RM5 billion relief measures aimed at helping businesses manage rising operating costs, supply chain disruptions and market volatility. Under the SRF, eligible MSMEs can obtain additional working capital financing to support short-term liquidity needs, including inventory purchases, operating expenses and business continuity. Priority will be given to businesses in sectors heavily reliant on oil, crude-based products and diesel, as well as companies facing supply shortages from countries affected by the conflict. CIMB co-CEO of group commercial banking Ahmad Shazli Kamarulzaman said the facility is designed to help MSMEs strengthen resilience and better manage cash flow during a challenging business environment. Applications for the SRF will open from May 15 until Dec 31, 2026, or until the facility is fully utilised. The financing offers up to RM750,000 with a repayment tenure of up to five years at a maximum financing rate of 3.75% per annum, including guarantee fees. In addition, CIMB said it will continue offering assistance through its existing Payment Assistance Programme (PAP), which provides flexible repayment arrangements for affected SME customers. Businesses seeking support can apply through CIMB’s website, OCTO app, relationship managers or branches nationwide.

MR D.I.Y. Group (M) Bhd has successfully completed its maiden issuance under its RM5 billion Sukuk Wakalah programme, raising a total of RM540 million. In a statement, the home improvement retailer said the fundraising exercise comprised RM525 million in Islamic Medium-Term Notes (IMTN) and RM15 million in Islamic Commercial Papers (ICP). The company said proceeds from the sukuk issuance will primarily be utilised to refinance existing borrowings, support working capital requirements, fund capital expenditure and for other general corporate purposes. MR D.I.Y. added that the IMTN and ICP were assigned initial credit ratings of AA1 with a stable outlook and P1 respectively by RAM Rating Services Bhd. According to the retailer, the ratings reflect the company’s strong financial standing and its solid capacity to meet both long-term and short-term financial obligations. The company also noted that the IMTN issuance attracted robust investor interest, with the order book peaking at 6.5 times oversubscription based on the initial price guidance. Chief executive officer Adrian Ong described the issuance as a key milestone for the group as it marks the company’s first entry into the Malaysian Islamic capital market. He said the move supports MR D.I.Y.’s transition towards a Shariah-compliant financing structure while strengthening its capital position and enhancing financial flexibility for future expansion plans. Ong added that the strong response from investors, alongside the lower yield achieved compared with the company’s existing borrowings, reflects market confidence in MR D.I.Y.’s business fundamentals and long-term growth prospects despite ongoing market volatility and geopolitical uncertainties.

Perbadanan Usahawan Nasional Bhd (PUNB) has reduced the profit rate for its business financing scheme to 3.5% per annum from between 5% and 6.75%, in a move aimed at lowering costs for Bumiputera entrepreneurs. PUNB chief executive officer Izwan Zainuddin The new rate under the Prosper Grow financing scheme will take effect for all approvals from Jan 1, 2026, including existing recipients approved this year, PUNB said in a statement on Thursday. The agency said the lower rate is expected to benefit entrepreneurs seeking financing of RM100,000 to RM1 million, helping them manage rising costs from inputs, logistics and global supply chain pressures. It added that the reduction of 1.5 to 3.25 percentage points will provide cost savings, improve cash flow and support business reinvestment and growth. PUNB CEO Izwan Zainuddin said the move is a timely step to help Bumiputera businesses remain competitive amid global economic uncertainty. He said the initiative aligns with the government’s Madani framework to build a more inclusive and sustainable Bumiputera entrepreneurship ecosystem. The rate cut also marks an early rollout of PUNB’s R30 Strategic Plan (2026–2030), which focuses on reinforcing, scaling and sustaining its financing and support ecosystem. PUNB also offers other schemes, including Prosper Great for high-growth companies in sectors like green technology and renewable energy, and Prosper Impact/Nova for large-scale government-linked projects.

Pay-TV operator Astro Malaysia Holdings Bhd has confirmed it will not be the primary broadcaster for the upcoming FIFA World Cup, ending its 20-year streak as the official tournament broadcaster in Malaysia. In a statement on Wednesday, Astro said its “fair and competitive bid” for the broadcasting rights was not accepted by FIFA. However, the company said it is currently in discussions with the new rights holders to explore opportunities for World Cup matches to still be shown across its platforms, including Astro, NJOI and its OTT streaming service Sooka. Astro said this could help extend coverage and accessibility to more Malaysians, including viewers at home, in commercial venues and on mobile devices. Earlier, Communications Minister Datuk Fahmi Fadzil announced that RTM and Unifi TV have secured the official broadcasting rights for the FIFA World Cup 2026 in Malaysia. The matches will also be available via MyTV, RTM Klik and Unifi TV’s OTT platforms. Commenting on its unsuccessful bid, Astro said the sports broadcasting landscape has changed significantly due to rising costs, inflation, piracy and shifting commercial returns. The company said escalating international sports rights fees have made it more difficult to justify investment levels, while piracy has reduced the value of premium content across legitimate platforms. Astro also noted that previous World Cups in 2018 and 2022 were widely pirated in Malaysia, which impacted returns for rights holders. It added that match timings and limited time for marketing and advertising campaigns had further reduced the commercial viability of securing the rights at higher costs. The 2026 FIFA World Cup, jointly hosted by the United States, Canada and Mexico, will kick off in Mexico City on June 11, with the final scheduled in New Jersey on July 19.

RT Pastry Holdings Bhd (RT Pastry) has signed an underwriting agreement with KAF Investment Bank Bhd for its initial public offering (IPO) and planned listing on Bursa Malaysia’s ACE Market. From left: Leou Thiam Lai, Independent Non-Executive Chairman of RT Pastry Holdings; Lu Chun-Neng, Executive Director cum Group CEO ; Rohaizad Ismail, CEO of KAF Investment Bank; Ahmad Fazlee Aziz, Head of Corporate Finance. The pastry and bakery products manufacturer is expected to be listed on the ACE Market by the second quarter of this year. In a statement, the group said the IPO involves the issuance of 91.54 million new ordinary shares, representing about 27% of its enlarged share capital. Of the new shares, 16.96 million will be offered to the Malaysian public, while 6.78 million will be allocated to eligible directors, employees and contributors. A further 42.38 million shares will be placed to selected Bumiputera investors approved by the Investment, Trade and Industry Ministry, while 25.42 million shares will be offered to institutional and selected investors. Executive director and group CEO Lu Chun-Neng said the IPO will provide the company with a platform to expand its retail presence and upgrade its manufacturing capabilities. He added that the listing will support the group’s efforts to continue delivering quality products while strengthening its long-term growth strategy. RT Pastry said proceeds from the IPO will be used to open new outlets, purchase machinery and equipment, and repay bank borrowings, which are expected to improve operational efficiency and support expansion plans. KAF Investment Bank will act as the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.

FWD Takaful Berhad (“FWD Takaful”) announced the strategic bancatakaful partnership with MBSB Bank Berhad (“MBSB Bank”), a full-fledged Islamic bank dedicated to offering innovative and Shariah-compliant products and services in Malaysia. The preferred alliance provides FWD Takaful access to leveraging its capabilities to meet the diverse needs of MBSB Bank’s customers with takaful solutions, enabling the Islamic bank to expand its product offering in delivering greater value for its customers. [L-R] Sean Lee, Head of Partnership FWD Malaysia; Chong Wen Han, Country Chief Partnership Distribution Officer FWD Malaysia; Aman Chowla, Country Chief Executive Officer FWD Malaysia; Datuk Ahmad Hizzad Baharuddin, Chairman FWD Takaful; Dato’ Wan Kamaruzaman bin Wan Ahmad, Chairman, MBSB Berhad; Rafe Haneef, Group Chief Executive Officer, MBSB Berhad; Usman Ghouse, Group Chief Consumer Banking Officer, MBSB Berhad; Vivian Chee, Head of Takaful & Legacy Solutions, MBSB Bank Berhad. FWD Takaful and MBSB Bank have entered a bancatakaful service agreement to promote and market takaful products offered by FWD Takaful. Aman Chowla, Country Chief Executive Officer of FWD Malaysia, said,“We are pleased to announce our strategic partnership with MBSB Bank, a meaningful step towards expanding access to inclusive and customer-centric takaful solutions. By combining our digital innovation and protection expertise with MBSB’s strong ecosystem, we aim to deliver simple, affordable, and relevant protection to more Malaysians. Together, we are committed to empowering individuals and families to secure their financial future with confidence, while contributing to a more resilient and protected community.” Present at the strategic partnership ceremony were Aman Chowla, Country CEO of FWD Malaysia, and Rafe Haneef, Group Chief Executive Officer of MBSB Berhad. Datuk Ahmad Hizzad Baharuddin, Chairman of FWD Takaful, and Dato’ Wan Kamaruzaman bin Wan Ahmad, Chairman of MBSB Berhad were also present. Rafe Haneef, Group Chief Executive Officer of MBSB Berhad, said,“This partnership brings together FWD Takaful’s product strength and MBSB Bank’s customer reach in a way that strengthens the overall customer offering. It reinforces the wealth and protection proposition we are building at MBSB Bank, while giving FWD Takaful a stronger platform to extend its solutions through a growing consumer franchise. The outcome is a more complete proposition for customers across wealth, protection and long-term planning.” The partnership launch ceremony of the bancatakaful service agreement was held on Tuesday, 5 May 2026, at the St. Regis Hotel, Kuala Lumpur. FWD Takaful and MBSB Bank also announced the launch of Takaful SmartGain, a family takaful savings plan that helps you accumulate wealth over time, while protecting what you’ve built at the same time.

PT Bank CIMB Niaga Tbk, the Indonesian subsidiary of CIMB Group Holdings Bhd, is set to spin off its Islamic banking business into a standalone bank in the fourth quarter of this year. CEO Lani Darmawan said the timeline is based on recent discussions with regulators, adding that the move is aimed at meeting regulatory requirements and allowing the Islamic business greater room to grow. The new entity, to be named Bank CIMB Niaga Syariah, will have about IDR70 trillion (RM16 billion) in assets and will start with around 30 branches nationwide. CIMB Niaga currently holds about 7% of Indonesia’s Islamic banking market, making it one of the largest players, though still behind Bank Syariah Indonesia (BSI). Indonesia requires Islamic banking units with assets above IDR50 trillion or significant scale to be spun off into standalone banks, as part of its regulatory framework to strengthen the sector. Following the spin-off, CIMB Niaga Syariah will operate independently but remain a 100%-owned subsidiary of CIMB Niaga. The bank said it is also exploring growth through mergers and acquisitions and may consider an initial public offering in the future, although no timeline has been set. Management added that the Islamic banking arm will focus on retail and SME segments, with a stronger push toward digital banking rather than branch-based services.

Global retail chain Lulu Hypermarket has committed to purchasing and marketing halal products from Majlis Amanah Rakyat (Mara) entrepreneurs worth US$100 million (about RM470 million) for the international market starting July 1. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the commitment was conveyed by Lulu Group owner Yusuff Ali during a meeting with Prime Minister Datuk Seri Anwar Ibrahim last week. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Zahid said he has directed Mara’s management to coordinate products from its entrepreneurs to meet global demand, particularly in the Middle East through Lulu’s retail network. He said Yusuff Ali agreed to begin marketing the products from July 1 this year. Zahid also said he is targeting more than RM1 billion in international halal sales from Mara entrepreneurs next year, as the group has already recorded potential sales of RM819 million this year. He added that at least 300 more entrepreneurs are expected to obtain halal certification this year. The initiative was announced during the launch of the Mara Halal Ecosystem, which aims to strengthen training, certification, financing and infrastructure to help Bumiputera entrepreneurs expand globally. Zahid also set a target to produce more halal executives and auditors within Mara to support industry growth. Separately, Mara signed a memorandum of understanding with Maybank Islamic to enhance entrepreneur development, financing access and market expansion, and exchanged a letter of intent with Jakim to strengthen halal training and certification.

Nestlé (Malaysia) Bhd has seen its sales return to pre-boycott levels, according to local research houses, supported by festive spending and disciplined cost management. Kenanga Research said the company’s revenue is now largely back to levels seen before the boycott impact, though part of the recovery has been driven by earlier price increases to offset higher commodity costs. The firm expects profit margins to stay below 2023 levels in the near term due to renewed cost pressures, but sees gradual improvement ahead as efficiencies and higher volumes kick in. Nestlé Malaysia reported first-quarter sales for the period ended March 31, 2026, of RM1.88 billion, up 6.3% year-on-year. Domestic sales rose 7.4%, while exports grew 2.5%. Chief executive officer Juan Aranols said performance was supported by consistent execution across channels and disciplined cost control. He noted that despite a volatile operating environment in 2026, the group remains confident in its fundamentals and ability to maintain continuity. He added that Nestlé’s broad portfolio, strong local manufacturing base, and extensive distribution network continue to support resilience in a challenging environment. The company recorded pre-tax profit of RM271.9 million and net profit of RM205.1 million for the quarter. The improved earnings were driven by stronger sales during festive periods such as Chinese New Year and Ramadan/Aidilfitri, cost discipline, operational efficiencies, and lower commodity prices for inputs like coffee and cocoa. Analysts offered mixed views on the outlook. RHB Research maintained an optimistic stance, citing improving consumer sentiment, supportive fiscal measures, and cost discipline as factors supporting a “sustained resurgence.” It said Nestlé’s scale and global network could help cushion geopolitical and supply chain risks. MBSB Research, however, was more cautious, saying the strong first-quarter performance may not be sustained throughout the year. It warned that rising freight, packaging, and commodity costs, along with geopolitical tensions, could pressure margins from the second quarter of 2026 onwards due to inventory lag effects. Despite this, it acknowledged that Nestlé’s strong market position and efficiency initiatives should help limit volatility. The firm kept a “neutral” rating with a target price of RM95.70, citing fair valuations. Hong Leong Investment Bank Research described the results as solid, with core profit after tax rising 9.4% year-on-year to RM188.3 million, representing 31% of full-year forecasts. It maintained a “buy” call with a higher target price of RM135, citing strong fundamentals and supply chain initiatives such as Farmer Connect. The differing target prices reflect varying views on Nestlé’s ability to manage macroeconomic risks, including geopolitical tensions and commodity volatility. However, analysts agree that demand for staple food products remains resilient, supported by stable employment and wage growth. Nestlé said its diversified portfolio, strong manufacturing footprint, and supply chain capabilities continue to support its outlook for another year of stable performance despite ongoing global uncertainty.