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LABUAN: The Borneo Flora Festival (BFF) 2025, which kicks off tomorrow, is already delivering strong economic momentum across Labuan, drawing thousands of visitors for its five-day floral and cultural extravaganza. Minister in the Prime Minister’s Department (Federal Territories), Datuk Seri Dr Zaliha Mustafa, said the scale of the event has triggered a major local mobilisation effort, benefiting businesses and communities throughout the island. “We’re seeing a surge of visitors arriving in Labuan, and this is directly translating into business for local hotels, restaurants, homestay operators, and even homeowners who are now opening up their residences to accommodate the demand,” she told Bernama after touring the final preparations at the Labuan International Sea Sports Complex today. Preliminary estimates suggest the festival could generate over RM20 million in revenue for local traders and businesses, driven by strong demand for goods, services, and accommodations. “We’re expecting over 50,000 visitors over the five days. Based on our calculations, each is projected to spend around RM400 during their stay,” she added. Hosted in the heart of Labuan town, the BFF features vibrant floral displays, cultural performances, traditional craft showcases, and participation from regional and international delegates — including representatives from Kalimantan, Indonesia, as well as dignitaries from Sabah and Sarawak. Adding royal prestige to the event, Her Majesty the Raja Permaisuri Agong will officiate the opening ceremony, accompanied by the Prime Minister’s spouse and the wives of the Yang di-Pertua Negeri of Sabah and Sarawak. “This isn’t just a tourism celebration — it’s a powerful economic catalyst,” Dr Zaliha said. “It’s creating income opportunities across logistics, hospitality, transport, food services, and the cultural economy.” She also praised the joint efforts of Labuan Corporation, the Federal Territories Department, Kuala Lumpur City Hall, Putrajaya Corporation, and local community groups in preparing the island for the visitor influx. The festival is part of the Federal Territories’ broader strategy to position Labuan as a key cultural and tourism hub, with more major events planned to further drive economic development. Local stakeholders have reported sharp increases in preorders for traditional foods, floral souvenirs, boat transport services, and private shuttles. “This is a timely boost to Labuan’s economic ecosystem,” Dr Zaliha added. “The active involvement of the community — from homeowners turning their spaces into homestays to small vendors scaling up supply — shows how inclusive and impactful this event is.” The Borneo Flora Festival 2025 will run from July 26 to 30.

Jeff Bezos has completed the sale of 25 million Amazon.com Inc shares, raking in nearly US$5.7 billion (RM24.03 billion) since late June—shortly after his wedding in Venice. The offloading began around his nuptials, starting with a US$737 million sale. According to a Securities and Exchange Commission (SEC) filing on Friday, Bezos wrapped up the plan this week, selling the final 4.2 million shares on Wednesday and Thursday for approximately US$954 million. The divestment was carried out under a pre-arranged 10b5-1 trading plan adopted earlier this year. These plans are often used by corporate insiders to ensure compliance with insider-trading regulations. The sales come as Amazon stock has surged 38% since its April low. The company is scheduled to announce earnings next week, with investors closely watching the returns on its aggressive investments in artificial intelligence. Despite the sale, Bezos remains Amazon’s largest individual shareholder, holding roughly 884 million shares, or over 8% of the company. His Amazon stake remains the cornerstone of his US$252.3 billion net worth, ranking him as the world’s third-richest individual, according to the Bloomberg Billionaires Index. Since 2002, Bezos has sold more than US$50 billion worth of Amazon shares. In 2024 alone, he sold 75 million shares for US$13.6 billion. The proceeds typically fund his other ventures, such as space exploration firm Blue Origin, and philanthropic efforts—he has donated shares worth approximately US$190 million so far in 2025. Bezos’ recent stock sale outpaces other major insider divestitures this year, including Oracle CEO Safra Catz’s US$2.5 billion sale and Dell Technologies’ Michael Dell, who sold US$1.2 billion worth of shares.

SINGAPORE, Singapore Airlines (SIA) has redesignated Peter Seah Lim Huat as a non-independent, non-executive director following its 53rd Annual General Meeting (AGM) held on July 25. Seah, who joined SIA’s board on Sept 1, 2015, and was appointed chairman on Jan 1, 2017, will continue to serve as chairman. He also remains a member of the board’s Compensation and Industrial Relations Committee as well as the Nominating Committee. In line with the AGM resolutions, Goh Swee Chen has been named lead independent director and chairperson of the Nominating Committee, while Jeanette Wong Kai Yuan has been appointed chairperson of the Compensation and Industrial Relations Committee. A veteran banker with 33 years of experience, Seah retired as vice chairman and CEO of the former Overseas Union Bank in 2001. He currently serves as chairman and director of DBS Group Holdings, a role he assumed in May 2010 after joining the board in November 2009. He is also a board director at GIC and deputy chairman of STT Communications.

MALE, Indian Prime Minister Narendra Modi has announced a US$565 million credit line to support the Maldives’ defence and infrastructure development during his official visit to the island nation on Friday. The move underscores India’s commitment to its strategically located neighbour and aims to deepen bilateral ties amid regional geopolitical tensions. On his first trip to the Maldives since securing a third term, Modi reaffirmed India’s role as the Maldives’ “first responder” and a steadfast partner in promoting peace and stability in the Indian Ocean. “India will continue to assist the Maldives in enhancing its defence capabilities,” said Modi. “Peace, stability, and prosperity in the Indian Ocean are common goals we share.” India’s renewed engagement comes amid concerns over the Maldives’ warming ties with China, especially after the 2023 election of President Mohamed Muizzu, who initially took an anti-India stance. Since assuming office, Muizzu oversaw the withdrawal of Indian military personnel who had been operating search-and-rescue helicopters and surveillance aircraft in the archipelago. However, he has recently adopted a more conciliatory tone, signalling a willingness to strengthen bilateral relations. Modi’s visit saw the launch of several Indian-backed infrastructure projects, including road upgrades and a 4,000-unit housing scheme. President Muizzu welcomed the financial support, stating that the credit line would go toward enhancing the country’s defence capabilities, as well as healthcare, housing, and education. “India’s continued supply of essential goods is a vital element of our cooperation,” Muizzu noted. The visit coincides with the Maldives’ 50th Independence Day celebrations, which Modi attended before departing the country on Saturday. The Maldives, known for its luxury resorts and pristine beaches, has become a focal point of strategic competition between India and China—its two largest bilateral lenders. The archipelago of 1,192 coral islands stretches across vital global shipping routes, making it a key player in the geopolitics of the Indian Ocean. India continues to view the Maldives, along with Sri Lanka, as part of its traditional sphere of influence.

KUALA LUMPUR: Sapura Energy Bhd announced that its wholly-owned subsidiary, Sapura Energy (Thailand) Ltd, has secured a series of contracts in Thailand valued at a total of RM500 million. In a filing with Bursa Malaysia, the group said the contracts include a work order from Chevron Thailand Exploration and Production Ltd and Chevron Offshore (Thailand) Ltd, along with service orders from PTT Exploration and Production Public Company Ltd and PTTEP Energy Development Company Ltd. The work order commenced in the third quarter of 2025 and is scheduled for completion in the fourth quarter of 2026. Meanwhile, the service orders began in the second quarter of 2025 and will run for five months. Sapura Energy noted that the contracts are expected to positively impact its earnings for the financial year ending January 31, 2026, and beyond, until the completion of the respective agreements.

PETALING JAYA: Rhone Ma Bhd’s wholly-owned unit, Link Ingredients Sdn Bhd (LISB), has accepted a RM15.64 million contract from Jemaluang Dairy Valley Sdn Bhd to supply, fabricate, install, and commission a milk processing line. In a filing with Bursa Malaysia, Rhone Ma said the project involves setting up a 4,000-litre-per-hour processing line for fresh and recombined milk at the Jemaluang Dairy Valley Complex in Mersing, Johor. Jemaluang Dairy Valley is a joint venture between A2 Fresh Holdings Sdn Bhd and Kulim (Malaysia) Bhd. Rhone Ma owns a 49% stake in A2 Fresh Holdings. The contract will begin upon the agreement’s signing and is expected to be completed within six months after the factory site is handed over to LISB, pending the completion of civil works, infrastructure, and utilities. The site handover is currently projected for 2026.

KUALA LUMPUR, Malaysian small and medium-sized enterprises (SMEs) looking to enter global markets are set to benefit from a new initiative by Alibaba Group, which has launched a targeted support package to accelerate their international growth. The e-commerce giant has introduced the Performance Guaranteed Package, aimed at helping newly onboarded Malaysian SMEs strengthen their footprint in global B2B trade. Rocky Lu, Head of Alibaba’s Malaysia business, said the initiative goes beyond a typical promotional campaign—it’s a strategic step to help local SMEs connect more effectively with international buyers. “With this package, we want to empower Malaysian suppliers to boost their presence in global trade and build greater resilience in today’s rapidly evolving supply chain environment,” he said in a statement. Exclusively available to Malaysian suppliers who joined Alibaba within the last three months, the package offers guaranteed product exposure, complimentary product optimisation, and priority access to training and support sessions. The initiative comes as global B2B e-commerce is projected to hit US$20.9 trillion (RM88.15 trillion) by 2027. Aligned with this trend, Malaysia has set a national target of RM1.65 trillion in e-commerce transaction value by 2025 under the National e-Commerce Strategic Roadmap led by Malaysia Digital Economy Corporation (MDEC). One of the early success stories from the package is Wemb’s Marketing (Malaysia) Sdn Bhd, a local food company that has grown its sales by over 70% since joining Alibaba. The company now exports to more than 30 countries and provides end-to-end services. “Our global reach was limited before. With Alibaba, our products quickly found new markets worldwide. The platform gave us visibility, tools, and support that allowed us to scale faster than we imagined,” said Director Goh Zhi Yan. “It truly made global digital B2B trade accessible for Malaysian SMEs like ours.”

JAKARTA, Indonesia Airlines, a Singapore-based carrier backed by Calypte Holding, has not yet secured the necessary regulatory approvals to begin operations, according to Indonesia’s Ministry of Transportation. As a result, its planned soft launch this month has been delayed. The Directorate General of Civil Aviation (DGCA) stated that the airline has not completed the verification process for key standard certificates via the Online Single Submission (OSS) system and the Integrated Aviation Licensing System (SIPTAU). Without verified documents, the airline is not legally permitted to operate. “Unverified status indicates the process is still incomplete. Without the required documentation, no permits will be granted, and the airline cannot commence operations,” said DGCA Director General Lukman F. Laisa in a statement. A major missing requirement is a comprehensive business plan detailing the airline’s fleet acquisition strategy, operational areas, organizational structure, financial capacity, and service roadmap for the next five years. Without this, the ministry cannot move forward with verifying and approving the airline’s application. “There are no shortcuts to starting an airline. Beyond administrative paperwork, it’s about ensuring operational readiness and safety compliance,” Lukman stressed, underscoring the importance of public transparency. Indonesia Airlines, which plans to exclusively operate international routes and bypass the domestic market, originally targeted a November 2024 launch. However, earlier delays related to aircraft cabin modifications had already pushed that timeline back. CEO Iskandar Ismail previously said Calypte Holding signed a €46.2 million deal in March to acquire a majority stake in Indonesia Airlines, supported by a €12.8 billion funding commitment. The airline has also attracted investment interest from Australia, China, and Thailand. Its fleet plans include 20 modern aircraft—10 Airbus A321neo or A321LR for medium-haul routes, and 10 Airbus A350-900 and Boeing 787-9 aircraft for long-haul operations—as it seeks to challenge regional carriers with a bold, international-only model.

KUALA LUMPUR, Betamek Bhd posted a net profit of RM5.39 million for its first financial quarter ended June 30, 2025, up from RM4.88 million recorded in the same period last year. This translates into earnings per share of 1.2 sen, compared with 1.08 sen previously. Betamek executive director Muhammad Fauzi Abd Ghani The original design manufacturer (ODM) reported revenue of RM56.88 million, marking an increase from RM49.97 million a year ago. The improvement was mainly driven by stronger sales of vehicle accessories, as well as initial contributions from its industrial instruments and consumer electronics segments—an encouraging sign of early progress in Betamek’s diversification efforts. During the quarter, its vehicle audio and visual segment remained the top revenue contributor, generating RM38.9 million or 68.4% of total revenue. Meanwhile, the vehicle accessories division brought in RM11.3 million, and non-automotive products contributed RM6.6 million. The Malaysian market continued to be Betamek’s core revenue source, accounting for 97.2% of total turnover, with the remainder coming from Hong Kong and Japan. The company has declared a first interim dividend of one sen per share, with an ex-date of Aug 6, 2025, and payment scheduled for Aug 20, 2025. “We are pleased to kick off the financial year on a strong note, underpinned by solid progress in our diversification strategy and improved operational performance, especially at Sanshin Malaysia,” said Executive Director Muhammad Fauzi Abd Ghani in a statement. He noted that Betamek will maintain its focus on expanding its customer base as part of its long-term plan to reduce reliance on a single client and tap into new growth avenues within the automotive sector. “While the Malaysian automotive market is expected to stabilise following a record-breaking industry volume of 816,747 units in 2024, we remain optimistic about sustained demand in the affordable vehicle segment—particularly through our anchor customer, Perodua, which continues to hold a dominant market position and a healthy order backlog of 90,000 units,” he added.

KUALA LUMPUR, Bosch has named Darren Chan Chon Hoe as Managing Director of Bosch Malaysia, making him the first Malaysian to hold the role, effective July 1, 2025. In addition to this new appointment, Chan will continue serving as CEO and Managing Director of Bosch Rexroth Malaysia, as well as Regional Technology Leader for Industrial Hydraulics at Bosch Rexroth ASEAN, according to a statement released today. He succeeds Vijay Ratnaparkhe, Regional President of Bosch Southeast Asia, who had been serving as interim Managing Director for the past 11 months. With Chan’s appointment, Ratnaparkhe will return to focus fully on his regional leadership duties. Chan brings over 20 years of experience in industrial automation, having held leadership roles across Southeast Asia in sectors such as electronics, semiconductors, automotive, and general industries. Expressing his gratitude for the appointment, Chan said he views the role as a chance to contribute meaningfully to Malaysia’s progress. “By leveraging Bosch’s century-long presence in Malaysia and the strength of our 3,700 associates nationwide, I aim to deepen public-private partnerships and drive talent development—both vital for enhancing Malaysia’s gross national income per capita,” he said. He also noted that Bosch’s global network, with around 490 subsidiaries in more than 60 countries, allows the company to blend international expertise with a deep understanding of local needs.