SoftBank Group and Grab Holdings have announced a joint venture with Petroleum Sarawak Berhad (PETROS) to invest $2.39b (US$1.85b) in developing artificial intelligence (AI) infrastructure across Malaysia. This initiative, revealed on 9 November 2026, seeks to establish a significant AI compute capacity of five gigawatts or more, supporting Malaysia’s AI Nation 2030 ambition and enhancing its status as a regional AI hub.

The collaboration will see the construction of AI facilities in Sarawak and Peninsular Malaysia, aiming to meet the rising demand for computing power in Southeast Asia. Masayoshi Son, CEO of SoftBank Group, stated, “AI infrastructure will power the next wave of growth, and Malaysia has the talent and ambition to help lead it.” Anthony Tan, CEO of Grab, added, “Together with SoftBank Group, we plan to build critical AI infrastructure in Malaysia, where Grab began, for all of Southeast Asia.”

The investment, comprising $1.29b (US$1b) from SoftBank, $967.5m (US$750m) from Grab, and $129m (US$100m) from PETROS, will be deployed in stages, contingent on achieving key development milestones. The projects will align with Malaysia’s National AI Action Plan 2026–2030 and the Post COVID-19 Development Strategy 2030, focusing on sustainable and efficient infrastructure.

Beyond infrastructure, the partnership will explore advanced manufacturing opportunities, aiming to create high-value jobs and support Malaysia’s Fourth Industrial Revolution Policy. This initiative is expected to accelerate AI adoption, improve productivity, and enhance Malaysia’s workforce capabilities.
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Singapore and Malaysia have announced an increase in the quota for licensed cross-border taxis, raising the limit from 300 to 500 per country. This change, effective from 16 November 2026, is part of the enhanced Cross-Border Taxi Scheme. Additionally, two new ride-hailing operators, CDG Zig Pte Ltd (CDG Zig) and Kumpool Sdn Bhd (Kumpool), will be licensed to operate under the scheme from the same date.

The increase in the taxi quota and the introduction of new operators aim to provide commuters and drivers with more options for cross-border point-to-point trips. This development is expected to enhance convenience and improve the overall commuting experience between the two countries.

The joint statement from the Ministry of Transport Singapore and the Ministry of Transport Malaysia highlights the collaborative effort to address the growing demand for cross-border transport services. By expanding the number of licensed taxis and introducing additional ride-hailing services, both countries aim to facilitate smoother and more efficient travel for commuters.

This initiative reflects the ongoing commitment of Singapore and Malaysia to strengthen their transport links and improve connectivity. The inclusion of CDG Zig and Kumpool in the Cross-Border Taxi Scheme is anticipated to bring about increased competition, potentially leading to better service quality and pricing for passengers.

As the changes take effect, commuters can expect a wider range of transport options, contributing to a more seamless travel experience across the Singapore-Malaysia border.

Skyro, a digital finance group with over 7 million users in the Philippines, has launched its first lending product in Malaysia. Approved by Malaysia’s Ministry of Housing and Local Government (KPKT) in September 2026, the service offers cash loans up to RM1,000 (approximately $250) with repayment terms of up to four months. The company plans to increase borrowing limits for eligible customers to RM10,000 (approximately $2,500).

The application process is entirely digital via the Skyro mobile app, allowing Malaysian citizens with a valid MyKad and regular income to apply without visiting a branch. Most applicants receive a decision within minutes, and approved funds are directly transferred to their bank accounts. The loans feature a fixed interest rate of 1.5% per month, with full transparency on loan amounts, monthly instalments, fees, and total repayment obligations.

Co-founder and co-CEO Arsen Liametov emphasised the importance of transparency: “It’s equally important that customers understand what they’re borrowing, what it will cost and how they’ll repay it before making that decision.”

Skyro’s entry into Malaysia comes as the country intensifies efforts to combat illegal moneylending. The company aims to provide a safer, transparent alternative to unlicensed lenders. By the end of 2026, Skyro hopes to introduce a product with an approved credit limit, facilitating easier access to subsequent loans for customers with a repayment record. This initiative is part of Skyro’s strategy to build a comprehensive financial ecosystem in emerging markets.

Sorento Capital Berhad, a provider of bathroom and kitchen sanitary ware solutions, has announced a profit after tax of RM8.2m for the first quarter ending 30 September 2026. The company recorded a revenue of RM47.3m, marking a 7.3% increase from the previous year, driven by a 30.1% rise in project-based sales.

The company’s Managing Director, Loo Chai Lai, highlighted the strategic initiatives that have supported this growth, including the opening of the flagship “Sorento Concept” showroom in Johor Bahru and the launch of the premium ‘Sorento Serene’ series. These efforts aim to expand market reach and enhance product offerings, particularly in the higher-end bathroom solutions segment.

Sorento Capital’s gross profit rose by 3.0% to RM20.4m, with a gross profit margin of 43.1% and a profit after tax margin of 17.3%. The company also declared a second interim single-tier dividend of 0.5 sen per ordinary share, bringing the total dividends for FY27 to 1.0 sen per share.

Looking forward, the company sees potential growth opportunities in Johor, particularly with the upcoming Johor Bahru-Singapore Rapid Transit System Link, expected to commence in February 2027. Additionally, recent measures under Budget 2027, such as increased tax reliefs, may bolster consumer spending, although the impact on demand for sanitary ware remains uncertain.

Sorento Capital maintains a strong financial position with RM43.9m in cash and bank balances, exceeding total borrowings of RM3.5m, and continues to explore opportunities for long-term growth.
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Semico Capital Berhad has officially opened its new family entertainment centre at Berjaya Times Square, a bustling mall in Kuala Lumpur. The centre, located on the Lower Ground Floor, spans 5,640 square feet and features over 40 arcade and amusement machines, including racing games, claw machines, and sports games, catering to a diverse audience.

The strategic location in the city centre, with easy access to public transport, positions Semico to attract both local shoppers and international tourists. This move is expected to enhance the mall’s appeal as a lifestyle destination, offering a mix of retail and leisure experiences. Executive Director and CEO of Semico, Tai Lee Chuen, expressed enthusiasm about the launch, stating, “We are delighted to welcome customers to our new FEC at Berjaya Times Square. The centre features a modern and inviting interior, alongside a selection of popular arcade and amusement machines designed to cater to the preferences of today’s consumers, particularly the younger generation.”

Looking forward, Semico is optimistic about the impact of Malaysia’s Budget 2027, which includes measures to increase personal income tax relief and reduce tax rates for certain income brackets. These initiatives, along with a RM935m allocation for tourism and cultural activities, are anticipated to boost consumer spending and tourism, creating a favourable environment for Semico’s operations.

Semico’s new centre not only complements Berjaya Times Square’s existing attractions but also strengthens its position in Malaysia’s family entertainment sector.

Jin Jiang Hotels (Malaysia) has announced plans to introduce Southeast Asia’s first Renjoy Hotel in Desaru, Johor. This follows a hotel management agreement with Techvance Hotel & Resort, part of the Techvance Group. The existing Sand & Sandals Desaru Beach Resort & Spa will be reimagined as a design-led beachfront destination under the Renjoy Hotel brand.

The collaboration aims to leverage Techvance’s local development expertise alongside Jin Jiang Hotels’ international network and operational capabilities. This strategic move is designed to attract both domestic and international leisure and corporate travellers to Malaysia’s beachfront market.

Malaysia’s tourism industry is experiencing robust growth, with 42.2 million international visitors recorded in 2025, marking an 11.2% increase from the previous year. China remains a significant source market, contributing 4.7 million visitors, a 25.1% rise from 2024. Johor, in particular, is poised to benefit from this trend, having welcomed 10.63 million overnight tourists in 2025.

The state’s hospitality sector is also expanding, with 34,986 hotel rooms recorded in 2025, a 9.4% increase year-on-year. The Visit Johor Year 2026 campaign aims to attract 12 million tourists, providing a favourable backdrop for the introduction of Renjoy Hotel Desaru. This development is expected to further strengthen Jin Jiang Hotels’ presence in the region.

MSIG Insurance Malaysia Bhd has revamped its Travel SafeGuard insurance plan to better accommodate the evolving needs of today’s travellers. The updated plan, launched at the end of 2025, now includes increased suitcase coverage, enhanced protection for senior travellers, and broader protection limits. This move reflects the growing demand for digital accessibility and comprehensive consumer protection in the travel insurance sector.

The enhanced Travel SafeGuard plan addresses modern travel trends, such as increased reliance on digital platforms and independent trip planning. Key features include Online Purchase Protection, which safeguards against fraudulent transactions, and WhatsApp Emergency Assistance for direct communication abroad. Additionally, the plan offers Traditional Chinese Medicine as an option for follow-up treatment in Malaysia, and a Golf Benefit Add-On for golf enthusiasts.

Travel SafeGuard provides medical coverage up to RM500,000, compensation for trip cancellations and delays, and worldwide emergency assistance. It offers flexible coverage options for travellers from 15 days old to 80 years old, with specific plans like Travel Shield, Travel Max, and Golden Joy tailored for different age groups.

For those preferring online purchases, EZ Travel SafeGuard offers a cost-effective alternative with essential travel protection. Optional add-ons, such as Pet Benefit and Cruise Benefit, allow further customisation. MSIG Malaysia’s CEO, Ang Yien Chia, emphasised the company’s commitment to providing practical and accessible protection, stating, “Whether travelling independently, with family, or later in life, we want Malaysians to have greater confidence to explore the world.”

As part of the global MSAD Insurance Group, MSIG Malaysia continues to offer reliable, customer-focused solutions, reinforcing its position as a leading general insurer in Malaysia.

Hilton has unveiled the Waldorf Astoria Kuala Lumpur, marking the brand’s debut in Malaysia. Situated in the prestigious Golden Triangle district, the hotel offers 268 all-suite accommodations, ranging from 80 to 745 square metres, combining luxury residential living with Waldorf Astoria’s renowned service.

The hotel aims to blend timeless elegance with Malaysian hospitality, creating a distinguished social destination for dining and events. Alan Watts, president of Hilton Asia Pacific, stated, “Waldorf Astoria Kuala Lumpur carries that legacy forward in the heart of the Golden Triangle, with an all-suite experience that brings a distinctive residential character to one of Asia’s most dynamic cities.”

The hotel features a unique clock inspired by Islamic astrolabes, serving as a central meeting point in Peacock Alley, a signature social space. The art collection, curated with the Islamic Arts Museum Malaysia, includes works by celebrated Malaysian artists, connecting the hotel’s global legacy with local culture.

Dining options are curated by acclaimed chefs Garima Arora and Jean-Georges Vongerichten, offering a range of culinary experiences. The Waldorf Astoria Spa spans 2,275 square metres, providing extensive wellness services, including personalised treatments and expert consultations.

The hotel also offers versatile event spaces, including a grand ballroom accommodating up to 2,500 guests. Located near cultural and retail landmarks, Waldorf Astoria Kuala Lumpur invites guests to indulge in luxury and Malaysian hospitality.

Maybank has unveiled a pioneering Ringgit Corporate Current Account in Singapore, enabling eligible corporate clients to receive, hold, and transact in Malaysian Ringgit. This facility allows businesses with a Maybank Current Account to convert from Singapore Dollar or other currencies into Malaysian Ringgit, facilitating trade, payments, and operational funding in Malaysia.

This initiative comes amid increasing economic integration between Singapore and Malaysia, particularly through the Johor-Singapore Special Economic Zone (JS-SEZ). According to the Malaysian Investment Development Authority, Singapore is Malaysia’s largest immediate source of approved private investments, contributing RM93b (S$30b) in 2025 and RM40b (S$13b) in the first half of 2026, with Johor as a key beneficiary.

Alvin Lee, CEO of Maybank Singapore, stated, “Since the announcement of the JS-SEZ, we continue to see growing demand for cross-border banking, payments, and treasury solutions. Our landmark Ringgit facility gives corporate clients greater flexibility and control, making it easier to transact across borders.”

The account requires no initial deposit, minimum balance, or monthly fee. Transfers from Maybank Singapore to Maybank Malaysia are fee-free, with processing charges waived for eligible transfers. Clients can access their accounts via Maybank’s business banking channels, including the upcoming Maybank2E platform.

This development underscores Maybank’s commitment to enhancing regional supply chains and strengthening the Malaysia-Singapore economic corridor, aligning with its ROAR30 goals to be ASEAN’s leading transaction banking partner.

Parkland Berhad, an integrated township and property developer, has received approval from the Securities Commission Malaysia for its initial public offering (IPO) and proposed listing on the Main Market of Bursa Malaysia Securities Berhad. This move is set to enhance the company’s development plans and expand its land bank.

With 18 years of experience in construction and property development, Parkland has launched projects with a total gross development value of RM7.4b. The company operates in Johor, Melaka, and Selangor, with a strong pipeline of planned developments valued at RM5.05b, 75.5% of which are in Johor. Current projects include Taman Kluang Perdana and Bandar Botani Parkland.

In addition to its core business, Parkland has ventured into renewable energy through a joint venture with Xinyi Power Station Development, developing a 99.99 MW solar plant in Johor, expected to start operations in early 2027.

The IPO will comprise 621.54 million shares, representing 26.3% of Parkland’s enlarged share capital. Of these, 550.74 million shares will be available to institutional and selected investors, whilst 70.80 million shares will be offered to the Malaysian public. Proceeds will primarily fund land acquisitions and working capital.

Datuk Tan See Sen, Group Managing Director, stated, “The SC’s approval marks a significant milestone in Parkland’s journey towards listing on the Main Market.” Hong Leong Investment Bank Berhad and AmInvestment Bank Berhad are advising on the IPO.