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Gardenia Foods Pte Ltd will relocate its bakery production operations from Singapore to Johor Bahru, resulting in the retrenchment of 141 employees at its Pandan Loop manufacturing facility. In a statement on Wednesday, the company said the move is part of efforts to improve operational efficiency and remain competitive amid a challenging global business environment. Production at the Singapore facility will officially cease on June 30. Gardenia informed employees of the decision during an internal meeting held earlier in the day. The company said affected staff will receive notice and support in line with local employment regulations and guidelines. Eligible employees may also be considered for alternative roles within the group’s broader operations network where suitable opportunities are available. The Food, Drinks and Allied Workers Union (FDAWU), an affiliate of the National Trades Union Congress (NTUC), said it had been informed early about the restructuring exercise and is currently assisting affected workers with training, job placement and retrenchment support. Gardenia will provide compensation packages to impacted employees and sponsor one year of union membership, while the Employment and Employability Institute (e2i) will offer career advisory and job matching services. Gardenia has been owned by Singapore-listed QAF Ltd since 1985. Over the years, the group has expanded its bakery operations across the Asia-Pacific region, including Malaysia, the Philippines and Australia.

The Malaysian Communications and Multimedia Commission (MCMC) and Huawei Technologies (Malaysia) Sdn. Bhd. (Huawei Malaysia) today celebrated 126 graduates from the second and third cohorts of the Digital Leadership Excellence (DLE) Programme, reinforcing efforts to strengthen Malaysia’s digital leadership capacity across government, academia and industry. Chairman of MCMC, Tan Sri Mohamad Salim Fateh Din and CEO of Huawei Malaysia, Simon Sun (centre) at the Digital Leadership Excellence (DLE) Programme Graduation Ceremony, with them are (L to R) Vice President of Huawei Asia Pacific Enterprise Sales Dept, Zac Chow; MCMC Commission Members, Prof. Dr Mohamad Salmi Mohd Sohod and Dato’ Sri Dr. Chee Hong Leong; MCMC Managing Director, Abdul Karim Fakir Ali; Senior Advisor, International Affairs of MCMC, Tan Sri Dato’ Sri Mohd Annuar Zaini; MCMC Commission Member, ⁠General (Rtd) Tan Sri Dato’ Sri Zulkifeli Mohd Zin and Deputy CEO of Enterprise Business Group, Huawei Malaysia, Du Xianjun. The second and third cohorts completed the four-month intensive hybrid learning programme in 2025, with 60 senior leaders completing the programme in June, followed by a further 66 in October. Together with the inaugural cohort in 2024, which produced 50 graduates, the DLE Programme has now trained a total of 176 digital leaders nationwide. The fourth cohort is currently underway, while the fifth cohort is expected to conclude by the end of the year, bringing the programme closer to its target of training 300 digital leaders by 2026. The graduation ceremony saw the graduates receive their scrolls from MCMC Chairman, Tan Sri Mohamad Salim Fateh Din, and Huawei Malaysia CEO, Mr Simon Sun. MCMC recognises the importance of partnerships such as the DLE Programme in strengthening Malaysia’s digital leadership capacity and supporting responsible, impactful digital transformation. Initiatives such as DLE help strengthen cross-sector collaboration and equip leaders with the skills and perspectives needed to navigate an increasingly digital future. MCMC remains supportive of collaborative efforts that help translate national ambitions into meaningful outcomes for the country. “At its core, digital transformation calls for leaders who can look beyond technology itself and focus on how it can solve real problems, strengthen organisations or institutions and improve lives. This is the purpose of the Digital Leadership Excellence Programme,” said Huawei Malaysia CEO Mr Simon Sun at the graduation event. The programme focuses on applied leadership development, collaboration and immersive exposure to emerging technologies including 5G, artificial intelligence, cloud computing, big data, green technology and cybersecurity. Graduate Mohd Saiful Nizam bin Rahimi, Lead for Information and Application Architecture at Tenaga Nasional Berhad, described DLE as “an incredible opportunity to exchange ideas with industry peers, thought leaders and Huawei’s global experts”. He added, “The discussions and case studies inspired me to think more strategically about how technology can be leveraged to drive meaningful impact in our organisations and ecosystems.” From academia, senior lecturer at Universiti Sains Malaysia, Dr Norilmi Amilia from Cohort 2 said the initiative demonstrated how “true digital leadership starts with collaboration”, adding that DLE “unites minds to move nations forward.” From the industry sector, Danny Chan Tzu Zhung, Director of Regional Telecommunication Media and Technology Sector Specialist (Head) at CIMB Investment Bank said, “I shifted from passive supporter to active change-maker. DLE isn’t just a programme – it’s a movement uniting sectors to empower others.” Graduates also completed capstone projects addressing national priorities such as education, healthcare, talent development, financial security, agriculture and social inclusion, reflecting the DLE Programme’s emphasis on practical, solution-oriented leadership. Inspired by Prime Minister Dato’ Seri Anwar Ibrahim’s call for stronger digital leadership capabilities during the 2023 Malaysia ICT Summit hosted by Huawei Malaysia, the DLE Programme supports Malaysia’s aspirations for a resilient, inclusive and future-ready digital economy. The continued collaboration between MCMC and Huawei Malaysia through the DLE Programme reflects a shared commitment to nurturing future-ready leaders and supporting Malaysia’s long-term digital transformation agenda.

ASIA SCHOOL OF BUSINESS VAULTS INTO FINANCIAL TIMES WORLD’S TOP 100 FOR EXECUTIVE EDUCATION The historic debut recognises ASB’s mission to deliver world-class education built in Asia, for Asia and beyond. The Asia School of Business (ASB) has achieved a historic milestone by debuting at 94th globally in the prestigious Financial Times (FT) Executive Education Custom Rankings. In its very first year of participation, ASB is the first business school in Malaysia to enter this definitive global ranking. This landmark achievement reflects the deep trust placed in ASB by diverse corporate partners and underscores the School’s commitment to executive learning engineered specifically for Asia’s unique leadership and organisational transformations. Delivering Tangible Business Value The FT methodology relies heavily on direct stakeholder sentiment, with client and participant feedback accounting for 80% of the overall ranking across dimensions like programme design, teaching methods, and value for money. Professor Joseph Cherian, CEO, President, Dean and Distinguished Professor of Asia School of Business, expressed his enthusiasm: “Securing a position among the world’s top 100 custom executive education providers in our inaugural debut is an extraordinary honour for the Asia School of Business, and a significant milestone that elevates Malaysia’s presence in global business education. With the Financial Times methodology placing an immense 80% weight on client feedback, this ranking directly validates the genuine trust, real-world value, and transformational impact our corporate partners experience with us.” Strategic Excellence Across Five Pillars ASB’s executive education programmes are uniquely structured to address the most pressing challenges of the modern economy. The School’s curriculum is anchored by five strategic pillars designed to empower leaders with a 360-degree perspective on regional and global shifts: Corporate Governance & Finance: Enhancing the skills of directors to effectively fulfil their fiduciary duties, with a focus on board-level risk management, strategy, and succession planning. Leadership & Management: Equipping busy executives and high-potential managers across industries with the practical tools and insights needed to lead effectively in today’s complex world. Technology: Immersing participants in the dynamic digital landscape, covering pivotal fields like AI and cybersecurity to understand how technology is reshaping global industries. Geopolitics: Examining the interplay between global policies and economics, enabling leaders to anticipate geopolitical shifts and adapt strategies for resilient growth. Sustainability: Moving beyond the buzzwords to help organisations strike a vital balance between profits and sustainable growth, progress, and future-minded impact. Global Inquiry, Local Heart This global recognition validates ASB’s defining ethos: Global Inquiry, Local Heart. Unlike traditional regional outposts, ASB operates as a homegrown executive education powerhouse built inside the region, significantly enhanced by the integration and legacy of the ICLIF Leadership and Governance Centre in 2020. “Our capability has been built deeply and institutionally over the years to design executive education that answers to Asian market dynamics while staying globally connected,” added Professor Cherian. “This recognition builds on ASB’s broader trajectory of international benchmarking, including our AACSB accreditation and growing global engagement. Moving forward, this milestone will catalyse our next phase of growth as we strengthen client listening mechanisms and expand our international footprint.” A Comprehensive Educational Ecosystem Building upon this momentum, ASB continues to shape global knowledge from Asia for the world. Beyond executive education, the School offers premier postgraduate degrees including the Master in Central Banking (MCB), MBA, Executive MBA (EMBA), and Agile Continuous Education (Micro-Credential) programmes (ACE). Driven by its signature Action Learning methodology, ASB ensures graduates possess rigorous real-world capabilities, backed by robust career services that successfully place students in top-tier global and regional organisations.

Gas Malaysia Berhad has signed a joint development agreement (JDA) with Tokyo Gas Co., Ltd. and VTTI B.V. to develop a liquefied natural gas (LNG) regasification terminal in Yan, Kedah. In a Bursa Malaysia filing, the company said the project has an estimated development cost of RM72 million, with Gas Malaysia holding a 70% stake worth about RM49.8 million. The partnership combines technical, operational, and infrastructure expertise across the LNG value chain to improve project execution, commercial readiness, and long-term viability. The agreement also sets out a governance framework for the development phase, leading towards a final investment decision after all technical, commercial, regulatory, and financial assessments are completed. The project is expected to enhance Malaysia’s energy security by diversifying LNG import infrastructure and reducing reliance on existing entry points in Peninsular Malaysia, while supporting industrial and power sector demand in the northern region. It is also seen as part of Gas Malaysia Berhad’s strategy to tap long-term growth opportunities under Malaysia’s evolving energy transition agenda.

Malayan Banking Bhd (Maybank) has introduced SME Perkasa, a targeted financing initiative aimed at helping small and medium enterprises (SMEs) manage rising costs and cash-flow pressures in a challenging operating environment. The bank said it will provide up to RM1 billion in financing approvals over the next 12 months, with eligible SMEs able to obtain up to RM1 million in funding, along with a six-month deferment of principal repayments. Maybank said approved applicants can receive disbursement within 48 hours once all documents are completed, supported by a fast-track credit assessment process that leverages existing customer transaction data to speed up approval. Group chief executive officer of community financial services Syed Ahmad Taufik Albar said SMEs are facing mounting cost pressures and tighter cash flows, making both financing access and speed of approval increasingly important. He said SME Perkasa is designed to ensure faster access to funds while also providing advisory support to help businesses remain resilient. The initiative is open to existing Maybank SME customers across 10 key sectors, including logistics, construction, wholesale distribution, food supply chains, agriculture, machinery imports, courier services and petrol station dealers. SMEs are encouraged to apply early or visit maybank.my/smeperkasa for more information.

PETRONAS, through its unit PETRONAS LNG Ltd (PLL), has signed a 20-year time charter agreement with MISC Bhd for five new liquefied natural gas (LNG) carriers. In a statement, PETRONAS said the vessels, each with a capacity of 174,000 cubic metres, will be built by China’s Hudong-Zhonghua Shipbuilding Group in Shanghai under shipbuilding contracts concluded earlier this year by MISC. (From left) MISC president & group CEO Zahid Osman, MISC vice-president of Gas Assets & Solutions Hazrin Hasan, PETRONAS executive vice-president & CEO of Gas & Maritime Business Datuk Adif Zulkifli, PETRONAS LNG Ltd CEO Ezran Mahadzir, and PETRONAS vice-president of LNG Marketing & Trading Shamsairi M Ibrahim. Charter operations are scheduled to commence between 2029 and 2030. PETRONAS executive vice-president and CEO of gas and maritime business Datuk Adif Zulkifli said the addition of the new LNG carriers marks an important milestone in strengthening collaboration across the LNG value chain. The financial value of the agreement was not disclosed. MISC, which is 51%-owned by PETRONAS, will manage project supervision during the construction phase before taking over full vessel operations and management upon delivery. The new LNG carriers will be equipped with fuel-efficient and emissions-reduction technologies, including XDF2.1 propulsion systems, shaft generators and onboard reliquefaction systems to manage boil-off gas. PETRONAS said the deal strengthens MISC’s role in supporting its LNG logistics network as it continues to expand its gas and maritime solutions portfolio.

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.