Malaysia

TAWAU: Bank Muamalat Malaysia Berhad is reinforcing its commitment to Islamic finance as a key driver of socioeconomic development in Sabah, through a series of impactful social finance initiatives. President and Chief Executive Officer, Khairul Kamarudin, stated that the bank continues to focus on empowering underserved communities by fostering financial inclusion and entrepreneurship. Among the key initiatives highlighted was the presentation of participation certificates to 16 selected micro-entrepreneurs under the iTEKAD Bank Muamalat Sabah programme. These individuals, drawn from the B40 and asnaf communities, will receive up to RM10,000 in microfinancing and grants. The programme also provides fully sponsored entrepreneurship training and six months of structured mentoring to support sustainable business development. In conjunction with the Financial Literacy Carnival 2025 at Eastern Plaza, Bank Muamalat also formalised a strategic partnership through a memorandum of understanding with the Credit Counselling and Debt Management Agency (AKPK). Additionally, the bank launched the “Pek Ikhlas Sabahan” crowdfunding campaign under the Jariah Fund in collaboration with Yayasan Ikhlas, further extending its outreach to marginalised groups in Sabah. Khairul affirmed Bank Muamalat’s position as one of the pioneering Islamic financial institutions under Bank Negara Malaysia’s (BNM) iTEKAD initiative. He reiterated the bank’s commitment to broadening its social finance outreach in underserved states, aligning with the national agenda. “As of May 2025, a total of 3,397 B40 and asnaf entrepreneurs across the country have benefitted from the iTEKAD Bank Muamalat programme, with more than RM35 million in funding disbursed,” Khairul said. He emphasised that these initiatives reflect the bank’s steadfast support for the government and BNM’s aspirations to position Islamic finance as a cornerstone of inclusive and sustainable economic development. “Programmes such as iTEKAD not only uplift those in need, but also play a strategic role in driving national economic growth by cultivating resilient micro-entrepreneurs,” he added. -Bernama

Eight leading government-linked companies (GLCs) have been selected to participate in the Bengkel Inovasi GLC (BIG) programme, a strategic innovation initiative driven by the Ministry of Finance (MOF), the Ministry of Science, Technology and Innovation (MOSTI), and Cradle Fund Sdn Bhd. The selected GLCs include Bank Islam Malaysia Bhd, CelcomDigi Bhd, Edotco Group Sdn Bhd, Malaysia Aviation Group Bhd, Sime Darby Property Bhd, S P Setia Bhd, Tenaga Nasional Bhd and Cenviro Sdn Bhd. Cradle Fund, in its official release, highlighted that these organisations were chosen based on their strong application of innovative technologies, particularly within the realms of digital transformation and artificial intelligence. Their capabilities demonstrated significant potential to enhance operational efficiency, foster sustainable business growth and scale innovation across key sectors. Furthermore, the GLCs exhibited robust partnership frameworks with both domestic and international startups, aligning with the collaborative ethos of the BIG programme. Over the next six months, these corporations will engage with internal innovation teams, startups and venture builders via the Venture Client Track, the Venture Co-Creation Track, or a hybrid of both. Each collaboration will focus on the development of a proof-of-concept, leading up to a Demo Day which aims to showcase real-world deployment and commercially viable co-created ventures. Startups interested in exploring collaboration opportunities with the participating GLCs are invited to register their interest via the official BIG platform at https://big.myopeninnovation.com/ -The Star

Malaysia Aviation Group (MAG), the parent company of national carrier Malaysia Airlines, has confirmed the purchase of 20 additional Airbus A330neo aircraft, exercising its purchase rights through a direct order with the European aircraft manufacturer. The latest acquisition underscores MAG’s ongoing commitment to its long-term fleet renewal and network development strategy. With the expanded order, Malaysia Airlines is poised to become one of the largest A330neo operators in the Asia-Pacific region—enhancing its position as a premium full-service carrier in one of the fastest-growing global travel markets. This development follows MAG’s initial 2022 commitment to 20 A330neo aircraft, comprising 10 units directly purchased from Airbus and 10 leased from international aircraft lessor Avolon. The group’s total A330neo fleet commitment now stands at 40 aircraft. Deliveries from the additional 20 aircraft are scheduled to take place between 2029 and 2031, supporting MAG’s vision for a future-ready fleet. Group Managing Director of MAG, Datuk Captain Izham Ismail, stated that the A330neo continues to align with the Group’s operational and strategic needs. “With its enhanced fuel efficiency and flexibility across both regional and long-haul routes, the aircraft is a strong fit for our evolving market needs,” he said. “This additional order reinforces our long-term vision of building a future-ready fleet that supports sustainable growth, delivers consistent value to our passengers, and strengthens our competitiveness in key markets.” -Bernama

Sarawak registered a total trade volume of RM198.7 billion in 2024, achieving a trade surplus of RM71.1 billion, according to the Department of Statistics Malaysia (DoSM). This performance comes despite global economic headwinds, including market volatility and geopolitical tensions. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin stated that elevated commodity prices, particularly crude palm oil, and firm global demand underpinned the state’s trade resilience. He noted that Sarawak’s key exports — palm oil, liquefied natural gas (LNG), and crude petroleum — continued to perform strongly throughout the year. “In 2024, Sarawak’s total trade rose by 2.7 per cent compared to 2023, while the trade surplus increased by 4.2 per cent to RM71.1 billion,” he said in a statement. Exports experienced a 3.1 per cent increase, reaching RM134.9 billion, while imports grew by 1.9 per cent to RM63.8 billion, reflecting robust domestic and international demand. Japan, China, South Korea, Peninsular Malaysia, and India emerged as Sarawak’s top five export destinations in 2024. Japan and China jointly accounted for 35.1 per cent of Sarawak’s total exports, valued at RM47.3 billion. Exports to Japan stood at RM29.1 billion, representing a year-on-year increase of 1.4 per cent. LNG led the exports to Japan at RM25.4 billion, followed by wood products at RM1.4 billion and iron and steel products valued at RM0.8 billion. Meanwhile, exports to China were valued at RM18.2 billion, contributing 13.5 per cent to the state’s total exports. However, this marked a 1.7 per cent decline, equivalent to RM0.3 billion, compared to the previous year. LNG exports to China remained dominant at RM13.5 billion, followed by manufactured metal products at RM1.1 billion, and palm oil and palm-based products at RM0.9 billion. -Bernama

SuperSiC (Malaysia) Sdn Bhd, a subsidiary of Zhejiang Jingsheng Mechanical & Electrical Co Ltd (JSG), has officially commenced construction of its new manufacturing facility at Penang Technology Park @ Bertam, reinforcing the company’s global expansion strategy and long-term commitment to Southeast Asia. In a joint statement, the Malaysian Investment Development Authority (MIDA), InvestPenang, and SuperSiC emphasised that the upcoming facility reflects JSG’s strategic objective of deepening its international footprint while establishing a regional centre of excellence for compound semiconductor materials. The decision to invest in Penang was driven by the state’s well-established semiconductor ecosystem, strategic geographical positioning, and highly skilled workforce, offering an ideal setting for both research and development (R&D) and high-volume manufacturing. The state-of-the-art facility will span a total area of 40,000 square metres, with construction scheduled to begin within the year. Upon completion of Phase 1, the facility is projected to deliver an annual production capacity of 240,000 eight-inch silicon carbide wafers, significantly enhancing JSG’s global supply capabilities. MIDA Chief Executive Officer Datuk Wira Arham Abdul Rahman described the project as a transformative development for Malaysia’s semiconductor industry. He underscored that this major investment not only signals deepening economic ties between Malaysia and China but also cements Malaysia’s rising influence within the global high-tech manufacturing landscape. He further noted that the SuperSiC facility aligns with several key national frameworks, including the New Industrial Master Plan (NIMP) 2030, the Chemical Industry Roadmap (CIR) 2030, and the National Semiconductor Strategy (NSS) 2030. These alignments strengthen Malaysia’s trajectory toward complex semiconductor production and advanced technological innovation. “This investment fills a critical gap in Malaysia’s semiconductor value chain—namely, advanced wafer fabrication. It is expected to serve as a catalyst for further investments in this high-impact sector, reinforcing Malaysia’s position as Asia’s premier destination for advanced manufacturing,” he added. -Bernama

MN Holdings Bhd has been awarded a contract worth RM29.3 million by Tenaga Nasional Bhd (TNB) for critical infrastructure expansion at the Tanjung Langsat Industrial Estate transmission substation in Johor. In a filing with Bursa Malaysia, MN Holdings confirmed that the contract was secured through its wholly owned subsidiary, MN Power Transmission Sdn Bhd (MNPTSB). The scope of work includes the extension of two new 132-kilovolt (kV) transformer bays at the existing 132/33kV transmission main intake (PMU), incorporating air insulated switchgear (AIS) technology. The facility will operate with a configuration of 2x90MVA. The contract will take effect on 3 July 2025, with a completion schedule of 540 days from the commencement date. MNPTSB is required to provide a performance security valued at RM1.465 million, equivalent to 5% of the total contract sum, within 56 days from the effective date. MN Holdings anticipates that the contract will have a positive impact on its future earnings and net assets per share once work begins. -The Star

WCT Holdings Berhad has secured a contract valued at RM365.22 million from Projek Lebuhraya Usahasama Berhad for the expansion of the North-South Expressway in Johor, reinforcing the group’s position as a key player in national infrastructure development. According to a filing with Bursa Malaysia, the contract was awarded to WCT Berhad, a wholly-owned subsidiary of WCT Holdings, on 4 July 2025. The agreement involves the execution of Phase 2 of the Yong Peng (North) to Senai (North) expansion, specifically the construction of an additional lane from Sedenak to Simpang Renggam. The project’s scope comprises comprehensive civil engineering and infrastructure works, including site clearance, demolition, earthworks, drainage systems, pavement and road marking. In addition, WCT will undertake the construction of bridge structures, geotechnical works, road lighting installations, utility relocation, and implementation of environmental protection measures. Work on the project is scheduled to commence on 28 July 2025, with a targeted completion timeline of 36 months from the start date. -The Star

Mesiniaga Bhd has secured a contract valued at RM148.01 million from the Retirement Fund (Incorporated) (KWAP) for the development and implementation of a new pension system for the statutory body. In a filing with Bursa Malaysia, the technology solutions provider confirmed that the agreement encompasses the supply, delivery, installation, testing, and commissioning of the system. The contract also includes an optional support and maintenance package valued at RM64.51 million, which, if exercised, will extend support services from the fifth to the eighth year of the project. The core implementation is scheduled for completion by July 2028. Should the optional support period be activated, Mesiniaga’s engagement would extend to July 2033. The contract does not include an automatic renewal clause. Mesiniaga noted that the contract is expected to contribute positively to its earnings and net assets beginning from the financial year ending 31 December 2025. For the first quarter of the financial year ending 31 December 2025, the company recorded a net profit of RM1.68 million, compared with RM3.01 million in the corresponding quarter of the previous year. Revenue increased marginally to RM53.92 million from RM53.06 million in the first quarter of 2024. -The Star

Bank Rakyat has clarified that the termination of Syaiful Rizal Abdul Ghani, former Chief Executive Officer of Yayasan Bank Rakyat (YBR), was executed in full compliance with established procedures and applicable legal frameworks. In an official statement, the bank underscored that all decisions relating to the foundation’s management were undertaken through proper governance channels and in accordance with the authority vested under current regulations. “Bank Rakyat prioritises corporate governance, integrity, transparency and accountability across all levels of its operations, including in its capacity as the founding body of YBR,” the statement read. The bank also appealed to the public to refrain from engaging in speculation or disseminating inaccurate information that may contribute to public confusion. It called on all parties to respect the legal process currently underway. The clarification follows a report by Malaysiakini that Syaiful has initiated legal proceedings against YBR, seeking in excess of RM36 million in compensation. The suit, filed on 5 June at the Kuala Lumpur High Court, includes a demand for a declaration that the termination of his contract — along with those of four other senior officers — was unlawful. According to the filing, Syaiful and the other plaintiffs contend that their dismissals were abrupt, without valid justification, and contravened governance protocols. Syaiful further asserted that while his appointment was made by the YBR board of trustees, his termination was carried out by an executive committee that had only recently been established. He claimed this body lacked the legal authority to assume the powers of the board. The additional plaintiffs in the suit are Mukhti Abd Rahman (former Head of Operations), Ghazali Zainal Abidin (Head of Secretariat), Khairul Na’im Aripan @ Arifin (Head of Corporate Administration), and Johary Abdul Jalil (Human Resources and Administration Manager). -FMT