Industry News
Malaysians abandon traditional travel hotspots
Malaysian travellers are increasingly opting for alternative Asian city breaks and regional escapes, according to recent data from digital travel platform Agoda. Between 1 January and 31 May 2026, searches for accommodation in destinations such as Busan, Fukuoka, Sapporo, Batam Island, Lombok, Surabaya, and Ho Chi Minh City surged, indicating a shift away from traditional favourites for stays between 20 June and 31 August 2026.
Agoda’s data highlights a notable trend: whilst major capitals like Tokyo and Seoul continue to attract interest, with Tokyo searches up 24% and Seoul up 7% year-on-year, other cities are seeing even more significant growth. Fukuoka and Sapporo in Japan experienced increases of 91% and 63% respectively, whilst Busan in South Korea saw a 104% rise. This suggests that Malaysian travellers are keen to explore beyond the usual tourist routes.
In Indonesia, the trend is similar, with Jakarta searches up 71%, Batam Island 69%, Surabaya 45%, Lombok 39%, Medan 34%, and Yogyakarta 26%. Other Asian cities like Ho Chi Minh City, Shenzhen, Manila, and Da Nang also reported increased interest from Malaysian tourists.
Fabian Teja, Country Director for Malaysia and Brunei at Agoda, noted, “The surge in searches for places like Busan, Fukuoka, and Lombok tells us that Malaysian travellers are making more deliberate choices, moving past travel hotspots to find better value and newer experiences within the same regions they already love.”
Agoda’s extensive range of accommodation options and competitive deals are facilitating this shift, offering travellers a variety of choices to suit different styles and budgets. The platform’s mobile app and website provide access to over 6 million holiday properties, 130,000 flight routes, and 300,000 activities, making travel planning seamless.
Malaysia secures RM7m bioeconomy deals with Taiwan
Malaysia has solidified its position in the regional bioeconomy sector by formalising three strategic collaborations with Taiwan, valued at approximately RM7m. These agreements were announced at the Malaysia Regional Collaboration Forum, part of the BIO Asia–Taiwan 2026 event.
The Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), under the Ministry of Science, Technology and Innovation, spearheaded the initiative to enhance technology exchange and cross-border business opportunities. The collaborations focus on insect technology, advanced biochar-based materials, and bird’s nest-based biotechnology products.
One notable agreement involves Fly Technology Agriculture Sdn Bhd and Taiwan’s Monster Biotech Co., Ltd., focusing on Black Soldier Fly-based animal feed and fertiliser. Another agreement between MCHAR Sdn Bhd and TCHAR Co., Ltd. involves the purchase of biochar and plans for a manufacturing plant in Malaysia. Glyken Bio Products Sdn Bhd also partnered with Taiwan Bansho Co., Ltd. to expand its bird’s nest-based biotechnology products in Taiwan.
Bioeconomy Corporation CEO Mohd Khairul Fidzal Abdul Razak highlighted the importance of these collaborations in diversifying supply networks and creating new business opportunities across Asia. He stated, “These strategic collaborations with Taiwan demonstrate how regional bioeconomy partnerships can diversify supply networks, strengthen food and industrial resilience, also create new business opportunities across Asia.”
The BIO Asia–Taiwan 2026 event, held from 15–19 July, serves as a platform for Malaysian companies to engage with global industry leaders and investors, showcasing Malaysia’s capabilities in biotechnology innovation and commercialisation.
Sophos launches AI-native defense against cyber threats
Sophos has launched Sophos Fusion, described as the industry’s first comprehensive AI-native cybersecurity defence system, designed to counter the increasing threat of AI-enabled cybercrime. This system integrates endpoint, network, identity, email, cloud, and security operations into a single architecture, enabling organisations to respond to threats at AI speed.
Sophos Fusion is powered by agentic AI and supports over 500 third-party integrations. Notably, 52% of cases within Sophos’ managed security operations are resolved entirely by AI, with an average response time of 89 seconds. Joe Levy, CEO of Sophos, stated, “As AI increases the speed, scale, and complexity of attacks, organisations need a modern connected, intelligent, and adaptive defence.”
The system’s launch coincides with Malaysia’s efforts to strengthen its digital threat response through the Cybercrime Bill 2026. Sophos Fusion is an evolution of Sophos Central, trusted by 625,000 organisations globally, and now incorporates Secureworks Taegis analytics following a 2025 acquisition.
Sophos Fusion offers a range of services, including endpoint protection, extended detection and response (XDR), and managed detection and response (MDR). It is designed to work seamlessly with existing tools, enhancing security without the need for additional resources.
The system’s expansion includes new capabilities such as Sophos Next-Gen SIEM and Sophos AI Defence, set to become generally available from August to October 2026. These advancements are expected to bolster the cybersecurity landscape, with the market for AI-native orchestration and adaptive defence systems projected to grow significantly by 2029.
Rivertree secures RM168.1m turnkey construction contract
Rivertree STF Synergies Berhad, a property developer listed on the Main Market, has announced that its subsidiary, RSSB Builders Sdn Bhd, has secured a RM168.1m contract to design and build a Centralised Labour Quarters (CLQ) in Meru, Klang. The project, known as Q Centre @ Teratai, will provide accommodation for 9,000 workers and is expected to be completed by June 2028.
The contract, awarded by Asetvest Sdn Bhd, marks the first project under a Heads of Agreement signed in March 2026 between Rivertree, Asetra, Catenary Capital, and Q Centre Management. This agreement outlines the development of up to four CLQ facilities in the Klang Valley, with a total capacity of 28,800 beds and an indicative development value of approximately RM600m.
Executive Director of Rivertree, Simon David Leong, highlighted the significance of the contract, stating, “Securing this RM168.1m contract is a defining moment for RSSB. We are committed to delivering a facility that meets the highest standards of compliance and quality.” He added that the contract would enhance the company’s construction order book and contribute to earnings over the next two financial years.
Catenary Capital, the investment firm managing Asetra, views the project as a strategic investment in compliant worker accommodation, addressing the demand for Act 446-compliant housing in Malaysia. Founding Partner Hizzan Hamid noted, “Q Centre @ Teratai is a deliberate choice for our first capital deployment. It reflects the structural case for investing in compliant, professionally managed worker accommodation.”
The construction of Q Centre @ Teratai is set to conclude with the Certification of Completion and Compliance by December 2028.
CloudMile and Tookitaki tackle Malaysia’s financial crime risk
CloudMile, a leading AI and cloud service provider in Asia, has entered into a Memorandum of Understanding (MoU) with Tookitaki, a global leader in anti-money laundering (AML) and transaction fraud prevention. This collaboration aims to advance AI-driven financial crime prevention capabilities within Malaysia’s financial services industry.
The partnership, announced on 15 July 2026, will leverage CloudMile’s expertise in AI and cloud solutions alongside Tookitaki’s innovative AML technology. The collaboration seeks to enhance the security infrastructure of financial institutions in Malaysia by integrating advanced AI technologies to detect and prevent financial crimes more effectively.
Tookitaki is renowned for its cutting-edge solutions in AML and fraud prevention, which have been deployed globally to combat financial crime. By joining forces with CloudMile, the two companies aim to provide Malaysian financial institutions with robust tools to safeguard against the increasing sophistication of financial crimes.
The MoU signifies a strategic move to address the growing need for enhanced security measures in the financial sector. As financial crimes become more complex, the integration of AI technologies is seen as a crucial step in staying ahead of potential threats. This partnership is expected to set a new standard for financial crime prevention in Malaysia, potentially influencing similar initiatives across the region.
The collaboration between CloudMile and Tookitaki highlights the importance of leveraging technology to protect financial systems and ensure the integrity of financial transactions. The initiative is poised to strengthen Malaysia’s position in combating financial crime through innovative and effective solutions.
Restrictive digital regulations cost Malaysia RM792m in annual VC funds, study shows
Digital regulations are increasingly impacting Malaysia’s startup ecosystem, according to a study by Oxford Economics commissioned by Digital Prosperity Asia. The report reveals that compliance costs, talent allocation, and innovation are being significantly affected, with potential losses of RM 792m in annual venture capital (VC) investment if regulations become more restrictive from 2026 to 2035.
The study highlights that 88% of Malaysian startups face operational constraints due to digital regulations, with 23% describing the impact as major or severe. Compliance-related costs have risen for 81% of startups, and 68% have implemented new processes to meet regulatory requirements. This includes engaging external legal support and shifting workloads to compliant cloud services.
Talent costs are also on the rise, with 74% of startups reporting increased expenses for compliance, cybersecurity, and data governance expertise. Additionally, 67% of startups are diverting funds from research and development to compliance, leading to delays in product development for 57% of firms.
Investment uncertainty is another concern, with 63% of startups finding it harder to raise capital due to regulatory pressures. The study predicts a 26% reduction in VC funding over the next decade if regulations tighten, equating to 210 fewer startups and approximately 22,000 fewer jobs by 2035.
Henry Worthington, Managing Director at Oxford Economics, emphasised the need for well-designed regulations that balance safeguarding trust with supporting innovation. Koh Liang Wei from Digital Prosperity Asia echoed this sentiment, advocating for clear and consultative regulatory frameworks to foster growth.
The findings underscore the importance of regulatory design in shaping Malaysia’s startup landscape, with implications for future policy decisions.
Unity disrupts Malaysian market with Reservoir Link partnership and rigless intervention win
Unity, a well integrity and decommissioning specialist, has secured its first major contract in the Asia Pacific region through a partnership with Malaysia’s Reservoir Link. The collaboration will deliver a three-well rigless intervention programme for a significant international offshore operator in Malaysia. This marks Unity’s strategic entry into the APAC plug and abandonment (P&A) market.
The partnership leverages Unity’s 30 years of experience in the North Sea, where its Surface Intervention System (SIS) has been successfully deployed over 20 times since 2016. The SIS technology is designed to perform wellhead integrity repairs and production restoration without the need for traditional vessel support, offering substantial cost savings and logistical advantages.
Stuart Slater, Unity’s Region Manager for Asia Pacific, highlighted the system’s benefits: “The constraints operators face across South-East Asia are ones we have been solving in the North Sea and Denmark with SIS for more than a decade. By removing the need for a support vessel entirely, it delivers significant cost savings.”
Reservoir Link, established in 2008, brings extensive local expertise and strong client relationships to the partnership. Its Group CEO, Dato’ Wan Hassan Bin Mohd Jamil, expressed enthusiasm for the collaboration, stating, “Malaysia represents a significant opportunity for rigless well intervention and plug and abandonment activities. Together, we are well-positioned to support operators in extending asset life, improving operational efficiency and advancing responsible decommissioning initiatives across the region.”
This partnership is expected to set a new standard for well intervention in South East Asia, combining Unity’s innovative technology with Reservoir Link’s local execution capabilities.
Ransomware targets Malaysian SMBs as threat grows
Ransomware continues to be a significant threat to small and medium-sized businesses (SMBs) in Southeast Asia, with Malaysia experiencing a notable rise in attacks. According to Kaspersky’s latest findings, 2.74% of Malaysian SMBs were targeted in the first quarter of 2026, compared to 2.09% during the same period last year. Across the region, 3.51% of SMBs faced ransomware attacks, up from 2.92% in Q1 2025.
The increase in ransomware incidents highlights the evolving tactics of cybercriminals who are increasingly targeting SMBs as entry points into larger supply chains. Kaspersky’s security expert, Fedor Sinitsyn, emphasised the complexity of these threats, noting that “SMB owners cannot afford to underestimate the complexity and risk of ransomware threats.”
Kaspersky’s report also identified Clop ransomware as the most prolific group, responsible for 14.42% of victims on Dedicated Leak Sites. The Gentlemen, a rapidly expanding group, has also gained notoriety for its sophisticated tactics, including collaboration with Initial Access Brokers to infiltrate organisations.
Adrian Hia, Managing Director for Asia Pacific at Kaspersky, stressed the importance of a layered cyber protection strategy for SMBs, which often lack the resources for dedicated cybersecurity teams. He noted that attackers view SMBs as gateways into broader supply chains, making robust cybersecurity measures essential.
To combat these threats, Kaspersky recommends updating software regularly, focusing on detecting lateral movements and data exfiltration, and implementing advanced threat discovery solutions. Developing an incident response plan that includes supply chain attacks is also advised.
Malaysia Airlines expands reach with SNCF rail deal
Malaysia Airlines has announced a new codeshare partnership with SNCF Voyageurs, France’s national rail operator, to offer seamless travel connections across Europe. This collaboration allows passengers flying into Paris Charles de Gaulle Airport (CDG) to connect effortlessly to 28 railway destinations throughout France, integrating air and rail services into a single booking.
Under SNCF Voyageurs’ TRAIN + AIR product, the partnership aims to enhance Malaysia Airlines’ MHrail initiative, which focuses on providing a seamless end-to-end travel experience. Tickets for this integrated service are available from 10 July 2026 on Malaysia Airlines’ official website.
Bryan Foong, Chief Executive Officer of Airline Business from Malaysia Aviation Group, stated, “This partnership with SNCF Voyageurs represents a key step in advancing our broader strategy to deliver truly seamless, end-to-end connectivity for our customers across Europe.”
The agreement enables Malaysia Airlines to place its marketing code on SNCF-operated rail services, allowing customers to book rail segments as part of their itineraries via CDG. This offers a streamlined travel experience with coordinated connections and simplified transfers to key cities such as Lyon, Strasbourg, and Marseille.
This strategic move not only expands Malaysia Airlines’ network reach but also reinforces its commitment to integrated air-rail connectivity at major global gateways, including Seoul and London Heathrow. The partnership is part of Malaysia Airlines’ ongoing efforts to redefine connectivity through strategic alliances beyond traditional aviation networks.
WiEX launch challenges global halal market norms
The Malaysia External Trade Development Corporation (MATRADE) is set to launch the Women in Export (WiEX) platform at the 22nd Malaysia International Halal Showcase (MIHAS) 2026, taking place from 23 to 26 September at the Malaysia International Trade and Exhibition Centre in Kuala Lumpur. This initiative is designed to empower women-led and women-owned businesses to expand beyond domestic markets and tap into global export opportunities within the burgeoning halal economy.
WiEX @MIHAS 2026, themed “Advancing Women in the Halal Economy,” will feature four integrated components: the WiEX Pavilion, the International Sourcing Programme (INSP), the WiEX Forum @MIHAS, and the Anugerah Wira Ekonomi Wanita. The WiEX Pavilion will showcase women-owned enterprises across 14 halal industry sectors, offering 80 booths, with 60 reserved for Malaysian companies. MATRADE will facilitate over 120 business matching sessions with 300 international buyers.
The WiEX Forum will address global trade challenges, focusing on digitalisation, market diversification, and building resilient businesses. The Anugerah Wira Ekonomi Wanita will honour women entrepreneurs excelling in product, service, and innovation.
MATRADE Chairman, Dato’ Seri Reezal Merican Naina Merican, emphasised the importance of harnessing women’s entrepreneurial talent to reach Malaysia’s RM80b halal export target by 2030. CEO Abu Bakar Yusof highlighted the platform’s role in providing strategic partnerships and market access for women-led businesses.
WiEX @MIHAS 2026 aims to create a comprehensive ecosystem that supports women entrepreneurs in the halal marketplace, fostering innovation and economic growth.
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