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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.

CelcomDigi Bhd, Maxis Bhd and YTL Communications Sdn Bhd have each injected an additional RM202 million shareholder advance into Digital Nasional Bhd (DNB) to support its operations, including spectrum acquisition. YTL Communications is a 60%-owned unit of YTL Power International Bhd. According to bourse filings by CelcomDigi and Maxis on Wednesday, the latest injection was made at the request of the state-owned 5G wholesale network operator. With this latest injection, each of the three telcos’ total shareholder advances and additional shareholder advances to DNB now stands at RM551.9 million, representing a 22.94% interest based on DNB’s issued share capital and shareholder advances. Ministry of Finance Inc (MoF Inc), which currently holds RM500.1 million of DNB’s issued share capital and has provided RM250.2 million in shareholder advances, has a 31.18% interest. MoF Inc was excluded from participating in this round after exercising its put option on Dec 1, 2025, with CelcomDigi, Maxis and YTL having fully paid the option price. According to CelcomDigi’s filing, the additional funds will be used to pay upfront spectrum fees as part of the spectrum acceptance, as well as to meet working capital requirements. The additional shareholder advance carries no interest and is not repayable on demand. It will only be repaid when agreed by DNB and subject to compliance with applicable covenants, CelcomDigi said. The advance may also be treated as prepayments under the access agreement between a CelcomDigi-related corporation and DNB, subject to the terms of the shareholders’ agreement. DNB, a special-purpose vehicle under the Ministry of Finance, was initially established to deploy 5G infrastructure and serve as the sole provider of wholesale 5G services to telcos. However, the government later opted for a dual wholesale network model, under which U Mobile was appointed in November 2024 to deploy the second 5G network. Shares in CelcomDigi rose four sen or 1.4% to RM2.39 on Wednesday, giving it a market capitalisation of RM35.1 billion. Maxis shares fell four sen or 1.1% to RM3.50, valuing the group at RM27.4 billion.

U Mobile, Malaysia’s newest 5G network provider, has partnered with Pavilion Real Estate Investment Trust (REIT) to enable seamless 5G in-building coverage across some of Kuala Lumpur’s most high-traffic commercial and lifestyle destinations. The partnership is aimed to enhance the overall indoor connectivity to support smarter building operations and complements the broader 5G infrastructure within the properties. The rollout will cover Pavilion Kuala Lumpur, Pavilion Hotel Kuala Lumpur, Pavilion Tower, Pavilion Elite, Banyan Tree Kuala Lumpur, The Intermark and Pavilion Bukit Jalil, spanning some of the city’s busiest retail, commercial and hospitality spaces. Together, these properties see high daily footfall, making reliable indoor connectivity increasingly important for both businesses and visitors. Under the partnership, U Mobile will deploy and manage its 5G-Advanced (5G-A) in-building coverage (IBC) system across these properties, improving network performance across high-traffic retail, office and hospitality environments where reliable connectivity is critical to day-to-day operations. The system is designed to support multiple mobile network operators, helping ensure that tenants, businesses and visitors experience more consistent indoor coverage, regardless of their service provider. This is particularly important in large, high-density buildings where network performance is often challenged. As part of the deployment, U Mobile will also be collaborating with Pavilion REIT to explore 5G-A use cases to support the digitalisation of their building operations. This allows systems such as security monitoring, smart sensors and parking solutions to run reliably, even during peak hours, helping Pavilion REIT operate its properties more efficiently while supporting a more seamless experience for tenants and visitors. For the public, this means better indoor connectivity whether shopping, working or staying in these properties, along with smoother digital experiences such as navigation, payments and real-time services throughout the buildings, no matter which floor they are on. The deployment reflects a growing need for networks that can support both connectivity and the systems that power modern buildings. Woon Ooi Yuen, Chief Technology Officer of U Mobile, said: “U Mobile’s approach to ULTRA5G deployment goes beyond just outdoor coverage. We also believe in prioritising deep in-building coverage to ensure that customers experience seamless, high-performance connectivity wherever they are whether indoors or outdoors. This allows us to support not just everyday usage, but also more advanced, business-critical applications that require consistency, reliability and scale.” Dato’ Phillip Ho, CEO of Pavilion REIT, said: “At Pavilion REIT, we are committed to continuously enhancing the quality of our properties through technology that improves both operational efficiency and the overall visitor experience. This collaboration with U Mobile supports our efforts to strengthen in-building connectivity across our assets, complementing the broader 5G ecosystem within our properties. By enabling more reliable indoor coverage, we are better positioned to support the evolving needs of our tenants, business partners and visitors, while advancing smarter and more responsive building operations.” This partnership is focused on improving the everyday experience for people, with more reliable connectivity and smoother digital services across some of Kuala Lumpur’s busiest spaces.

Atlas Copco Group has made an 8-figure investment in a new headquarters and integrated facility in Alam Impian, Shah Alam, as part of its expansion plans in Malaysia and Southeast Asia. The new facility, built on a 1.21-hectare site, will serve as a central hub for the group’s operations in Malaysia and the region. It will also support key business functions, including a regional shared finance services centre. Atlas Copco Malaysia and Singapore general manager of Compressor Technique Business Area, Khalid Shaikh, said the investment reflects the group’s long-term commitment to Malaysia since establishing its presence in the country in 1982. He said the new hub will also coordinate operations across the company’s sites in Kuantan, Penang and Johor, helping improve efficiency and regional integration. Khalid said Atlas Copco began operations in Malaysia with just 10 employees and has since grown to more than 250 staff nationwide. He added that the Shah Alam location was selected due to its close proximity to industrial zones, Port Klang, Kuala Lumpur, major highways and the upcoming LRT3 line. The company plans to hire an additional 80 to 100 employees over the next five years, mainly in service, sales and marketing roles. Khalid also noted that ongoing global geopolitical shifts are creating opportunities for foreign investors to expand into Southeast Asia, especially Malaysia. Meanwhile, Malaysian Investment Development Authority (MIDA) Selangor director Sherulanuar Abd Karim said the investment supports Malaysia’s New Industrial Master Plan 2030, which aims to strengthen higher-value industries and enhance the country’s industrial ecosystem.

Maxim E-hailing Malaysia has signed a strategic partnership with Zlata, an insurance agency under the Sejamas Group, to expand insurance coverage among e-hailing drivers nationwide. The collaboration is part of Maxim’s ongoing efforts to strengthen driver protection by improving access to insurance solutions tailored for the gig mobility sector. The insurance policies available through this partnership are specifically designed to protect drivers during e-hailing trips. Coverage includes incidents that occur while heading to pick up a passenger, during the ride, or when completing an order. In the event of an accident, driver injury, or vehicle damage linked to e-hailing activity, the driver receives compensation, avoiding out-of-pocket expenses that could amount to thousands of ringgit. Beyond sales, Zlata will serve as a single support hub: coordinating towing services, preparing documents for insurance claims, and liaising with insurers to minimise vehicle downtime after an accident. To further improve accessibility, Zlata has introduced a Buy Now, Pay Later (BNPL) scheme, enabling drivers to obtain coverage without the need for full upfront payment, making insurance more affordable for the platform’s driver-partners. In addition, each driver who purchases a policy through the partnership receives a complimentary car battery with warranty coverage. The average battery lifespan under intensive e-hailing usage is 18–24 months, which corresponds to a mileage of 50,000–70,000 km. This support reduces the driver’s annual expenses by 200–400 ringgit. The battery is professionally installed by trained technicians, eliminating downtime due to incorrect fitting. “Driver safety and well-being remain our top priority. This partnership allows us to work with an experienced insurance provider to offer more flexible and relevant solutions that better align with the realities of gig work,” said Mushfique Ahmed Chowdhury, Head of Legal Compliance & Government Relations, Maxim E-hailing Malaysia. Both Maxim and Zlata are also exploring targeted outreach and educational efforts to improve driver awareness and understanding of insurance benefits.

UOB is seeing stronger growth in Southeast Asia following its integration of Citi’s retail banking businesses across four markets, according to a report by The Business Times. At its annual general meeting, Deputy Chairman and CEO Wee Ee Cheong said the S$4.9 billion acquisition, announced in 2022, is now contributing more clearly to the bank’s regional retail expansion after a multi-year integration process. The deal covered Citi’s retail banking operations in Indonesia, Malaysia, Thailand and Vietnam. UOB said the integration has strengthened its regional presence, with the bank now serving more than 8.5 million customers across ASEAN. The completion of the Vietnam integration marked the final step in the regional rollout. Wee said UOB will continue investing in infrastructure and technology to further develop its retail banking platform across Southeast Asia, noting that each market requires a tailored approach due to differences in customer needs and local conditions. UOB’s ASEAN-4 segment — Indonesia, Malaysia, Thailand and Vietnam — recorded 5% income growth for the year ended Dec 31, 2025, outperforming the wider group, which saw a 3% decline in total income. The bank said its retail strategy will focus on deeper customer relationships through wealth solutions, advisory services and ongoing digital upgrades.

More than 70% of Malaysia’s biodiesel blending depots are ready to implement the B15 biodiesel programme using existing facilities, following the government’s plan to gradually increase the biodiesel blend. Economy Minister Akmal Nasrullah Mohd Nasir said the government has conducted meetings and site visits to assess readiness for the rollout. He said inspections by the Ministry of Plantation and Commodities found that more than 70% of blending depots nationwide are prepared to support B15 implementation without major infrastructure changes. “Operational adjustments are being developed by blending depots to ensure efficiency and the security of petroleum product supply to consumers,” he said during a briefing on the global supply situation. Akmal Nasrullah added that he and Plantation and Commodities Minister Datuk Seri Noraini Ahmad had visited facilities in the Klang Valley, including the Klang Valley Distribution Terminal and a biodiesel plant in Pulau Indah, Klang, to review operational readiness. He said the visit highlighted the need to view energy planning more broadly, linking it to energy security, commodity strength, logistics efficiency and supply chain resilience. Following the government’s decision to raise the biodiesel blend from B10 to B15 (starting with B12), the Economy Ministry and Plantation and Commodities Ministry are coordinating with stakeholders to implement the transition. The move is aimed at strengthening diesel supply security amid global disruptions, reducing reliance on fossil fuel imports, and supporting Malaysia’s shift towards cleaner energy and economic restructuring.