Industry News

Digital travel platform Agoda has unveiled its ranking of Asia’s top rural destinations, highlighting a growing trend towards highland tourism. Malaysia’s Cameron Highlands has emerged as the most sought-after rural destination, followed by Khao Yai in Thailand and Puncak in Indonesia. This ranking is based on accommodation searches made on Agoda between 15 February and 15 August 2025.

Rural destinations, particularly those in mountainous and hillside regions, are becoming increasingly popular among travellers seeking a break from urban life. These locations offer a slower pace, allowing visitors to immerse themselves in local culture and natural beauty. Agoda’s data ranks destinations across eight Asian markets with populations under 50,000, showcasing the appeal of these serene environments.

The list also includes Fujikawaguchiko in Japan, Kenting in Taiwan, Sapa in Vietnam, Munnar in India, and Pyeongchang-gun in South Korea, rounding out the top eight rural destinations. Each location offers unique attractions, from the lush tea plantations of Cameron Highlands to the hot springs near Mount Fuji.

Cameron Highlands is renowned for its cool climate and vibrant landscapes, making it a peaceful retreat for those looking to explore nature and local culture. Similarly, Khao Yai’s rich biodiversity and outdoor activities attract adventure seekers, whilst Puncak’s breathtaking mountain views provide a refreshing escape.

As highland tourism continues to rise, these destinations promise travellers a distinct and rejuvenating experience away from the hustle and bustle of city life.

GMA Garnet Group, part of the Jebsen & Jessen Group, is celebrating the first anniversary of its distribution hub in Port Klang, Malaysia. Since its opening in June 2024, the facility has become a pivotal gateway for the company’s operations in the Asia-Pacific (APAC) region, handling 71% of GMA’s garnet trade in Asia. This strategic location has significantly reduced lead times by up to 21 days and expanded market access for high-demand industrial materials.

The Port Klang hub supports the burgeoning APAC construction market, supplying premium garnet products like ToughBlast™, which is designed for extreme surface preparation environments. The hub’s establishment is a response to the increasing demand for high-quality industrial materials across sectors such as marine, oil and gas, infrastructure, and manufacturing.

GMA has also strengthened its leadership in the region with the appointments of Shashi Kumar as Sales and Marketing Manager and Chris Manger as Head of Technical – APAC. These appointments aim to drive business growth and enhance customer relationships.

The success of the Port Klang hub underscores its importance as a strategic asset for GMA, facilitating faster delivery and broader market coverage. As the hub continues to grow, it is expected to further solidify GMA’s position in the APAC industrial garnet market, meeting the rising demand for high-quality materials in the region.

Bermaz Auto Berhad (BAuto) has reported a significant decline in its first-quarter financial results for the fiscal year 2026, with core net profit plummeting 87% year-on-year to MYR8.8m. The results, which fell short of expectations, were attributed to a 42% drop in revenue and a 48% decrease in vehicle sales, largely due to the absence of new launches and intensified competition in the mass premium segment.

Maybank IBG Research has revised its earnings forecast for BAuto, cutting the fiscal year 2026–2028 estimates by 64%, 46%, and 46%, respectively. The target price has been adjusted to MYR0.68, reflecting a shift in valuation methodology from price-to-earnings ratio (PER) to price-to-book (PB) ratio, which better aligns with BAuto’s strong balance sheet and cash-generative model. The company maintains a net cash position exceeding MYR180m, representing approximately 29% of its market capitalisation.

Despite the challenging quarter, BAuto declared a dividend of 0.75 sen per share, indicating a 105% payout ratio and offering a 5% yield. The company anticipates a potential recovery in margins from the second quarter of fiscal year 2026, supported by renewed principal support from Mazda starting in July 2025.

Looking ahead, BAuto faces a challenging market environment with increasing competition from Chinese brands affecting its Mazda and Kia sales. However, the company has seen an increase in order backlogs, notably for the Mazda CX60 and Mazda 3 models. Maybank IBG Research maintains a ‘Hold’ rating on BAuto, citing the company’s robust balance sheet and dividend capacity as key factors providing downside protection.
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Savills Singapore has announced the launch of CloutHaus Residences, a prestigious new development in Kuala Lumpur City Centre (KLCC), offering 615 freehold flats. Developed by TA Global, the 66-storey tower is set to redefine luxury living in Malaysia’s capital with its world-class architecture and exclusive amenities. Scheduled for completion in Q2 2029, CloutHaus will also feature Malaysia’s first Paradox Hotel and 242 Paradox-branded residences.

Located just 50 metres from the iconic Petronas Twin Towers, CloutHaus Residences promises unobstructed views and seamless connectivity to KLCC, Bukit Bintang, and major transport lines. The development offers flats ranging from 549 to 1,216 square feet, equipped with premium finishes and renowned brands such as Gaggenau and Bosch appliances.

Residents will enjoy a 50-metre infinity pool, a Sky Lounge and Bar, wellness and fitness studios, and leisure spaces including a golf simulator and karaoke lounge. The integration with the adjoining Paradox Hotel provides five-star services such as concierge, housekeeping, and in-residence dining.

Tiah Joo Kim, CEO of TA Global, stated, “CloutHaus is more than a development—it is a statement. Every detail has been crafted for those who expect the very best from the places they call home.” Ruben Koh, Senior Director at Savills Singapore, highlighted the development as a compelling long-term investment for Singapore buyers, citing its unrivalled connectivity and premium specifications.

CloutHaus incorporates energy-efficient systems and sustainable materials, aligning with global best practices. Savills will host an exclusive preview of CloutHaus Residences in Singapore on 20 and 21 September 2025 at Paradox Singapore Merchant Court.
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Malaysia’s palm oil inventory saw a rise to 2.2 million tonnes in August, as production increased by 2.3% month-on-month to 1.86 million tonnes, according to a recent report by UOB Kay Hian Research. The report highlights that whilst production surged, exports remained relatively unchanged, dropping slightly by 0.3% to 1.32 million tonnes, contrary to market expectations of a 10-15% increase.

The Malaysian Palm Oil Board’s (MPOB) data for August indicates that the growth in production was primarily driven by East Malaysia, particularly Sarawak, which saw a 9.2% increase. Despite the rise in production, the report maintains a “Market Weight” stance on the sector, suggesting that the current crude palm oil (CPO) price levels are unlikely to see significant upward movement in the near term.

Hap Seng Plantations remains the top pick for UOB Kay Hian, with a “Buy” recommendation and a target price of $0.47 (RM2.20). The report notes that the company’s strong cash position and attractive dividend yields make it a favourable investment.

Looking ahead, the report anticipates that production growth may slow in September, with inventory levels expected to continue rising, albeit at a moderate pace. The potential for increased CPO prices is limited due to a loosening supply-demand balance, with the forecasted CPO price for 2025 remaining at $0.90 (RM4,200) per tonne.

The report also points to potential risks, including weaker-than-expected industry output and incremental demand from regional biofuel policy expansions, which could impact inventory levels and CPO prices.
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UOB Kay Hian’s latest research report reveals that Malaysia’s telecommunications sector experienced a 2% quarter-on-quarter service revenue growth in Q2 2025, largely driven by a shift from prepaid to postpaid services and a strong demand for fibre. Despite this growth, the report highlights that earnings forecasts for Axiata and CelcomDigi have been cut by 6% following their Q2 results.

The report notes that the sector’s core earnings rose by 8% year-on-year and 14% quarter-on-quarter to RM1,552m. However, CelcomDigi’s earnings were impacted by weak prepaid revenues and higher provisions for doubtful debts. Axiata also faced challenges, with a 36% year-on-year decline in earnings due to integration costs and lower associate earnings.

Key drivers for the quarter included cost discipline, a promising enterprise business pipeline, and the continued demand for home fibre services. The expanded sales and services tax, effective from July 2025, has marginally compressed EBITDA margins, with CelcomDigi and Maxis anticipating a 1% impact on their full-year EBITDA.

Looking ahead, the sector is expected to maintain stable operations, with potential catalysts including Axiata’s infrastructure asset monetisation and CelcomDigi’s synergistic savings by 2027. The report maintains a “Market Weight” recommendation for the sector, citing uncertainties around the shareholding structure of Digital Nasional Berhad (DNB) and the potential exit of the Ministry of Finance from DNB.

UOB Kay Hian’s top picks in the sector are CelcomDigi, TIME, and Axiata, with expectations of continued growth and strategic developments in the coming quarters.
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In a landmark move, Zetrix AI Berhad and the Government of Malaysia have signed a Letter of Intent to develop a global framework for Shariah-compliant artificial intelligence (AI). The collaboration, witnessed by Prime Minister Anwar Ibrahim, aims to establish certification and governance standards for AI systems aligned with Islamic principles.

Zetrix AI, known for its Shariah-aligned Large Language Model, NurAI, will work closely with Malaysia’s Department of Islamic Development (JAKIM) to ensure the ethical and religious compliance of AI technologies. JAKIM, a leader in halal certification, will guide the certification and governance of NurAI, reinforcing Malaysia’s position as a global leader in ethical AI.

The initiative highlights the need for AI systems that reflect Islamic ethics, moving beyond secular worldviews. It aligns with Malaysia’s halal and digitalisation agendas, aiming to serve over 2 billion people globally. Prime Minister Anwar Ibrahim emphasised the importance of integrating digitalisation and AI with Islamic values.

The collaboration focuses on three key areas: developing Shariah certification and governance frameworks, promoting Malaysia as a global centre for Islamic AI, and creating a trusted platform for Islamic legal rulings via NurAI. This partnership positions Malaysia as a key player in the global Islamic digital economy, projected to reach $574t by 2030.

NurAI, developed in Malaysia, supports multiple languages and complies with national data sovereignty policies, ensuring secure and localised AI solutions. This collaboration underscores Malaysia’s commitment to setting international benchmarks for Shariah-compliant AI.
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The Australian High Commission and Malaysia’s Ministry of Higher Education celebrated the achievements of ten Malaysian PhD scholars who recently completed a 12-week virtual research placement with Australian university supervisors. This initiative, part of the Australia-Malaysia Virtual PhD Internship Programme, aims to enhance international research exposure and foster academic networks.

Each participating scholar received an AU$500 stipend to aid their research collaboration. During the Symposium, Acting High Commissioner to Malaysia, Simon Fellows, highlighted the 70th anniversary of Australia’s diplomatic presence in Malaysia, stating, “This programme reflects the modern and dynamic partnership between Australia and Malaysia. By connecting our scholars and researchers, we’re building ties that deliver positive impact for both countries.”

YBhg Datin Noorazah Omar, Undersecretary of the International Relations Division at Malaysia’s Ministry of Higher Education, noted that the programme supports intellectual exchange and builds research capabilities, paving the way for future collaborations in science, technology, and innovation.

The event also featured Three Minute Thesis presentations and guest sessions on academic wellbeing by Dr Theresa Dicke from Australian Catholic University, as well as cross-cultural insights by Dr Show Ying Xin from the Australian National University Malaysia Institute.

The programme has successfully strengthened early career researcher capacity and established enduring research ties between Malaysia and Australia. For more information on the scholars, visit the Australian High Commission’s website.
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