Corporate and speciality insurer HDI Global has celebrated a decade of operations in Malaysia, marking significant growth and a commitment to future expansion. Since establishing its presence in 2016 through a Labuan branch, HDI Global has seen its gross written premiums increase nearly eightfold from 2019 to 2025. The company has become a trusted partner in complex sectors such as Energy & Power and Construction.

In April 2026, HDI Global’s Kuala Lumpur Marketing Office received regulatory approval to operate as a Co-Located Office. This development allows the company to conduct underwriting, risk management, and other key activities directly in the Malaysian market. The move is part of HDI Global’s strategy to deepen its engagement with local clients and brokers.

HDI Global is also investing in capability-building within Malaysia’s insurance sector. Its training programmes, accredited by the Asian Institute of Insurance and the Malaysian Insurance and Takaful Brokers Association, support Continuing Professional Development.

Marketing Director T. Sivapalan Tharmapalan highlighted the company’s growth, stating, “What began as a reinsurance platform has developed into a robust local presence.” Managing Director Alex Tarantino added, “With the growing demand for speciality insurance solutions, we see significant opportunity to enhance our capabilities in Malaysia.”

Looking ahead, HDI Global aims to expand its business lines and core functions in Malaysia, guided by its Xcelerate29 strategy, to meet evolving client needs and reinforce its position as a trusted partner.

CIMB Group Holdings Berhad has announced the appointment of Mak Joon Nien as Chief Executive Officer of Growth Markets and CEO of CIMB Singapore, pending regulatory approval. Mak will also join the CIMB Group Executive Committee, focusing on accelerating business growth and enhancing cross-border connectivity in Singapore, Thailand, and Cambodia.

Mak, who brings nearly 30 years of international banking experience, will be based in Singapore. His career began with Standard Chartered in 1997, where he became the first Malaysian CEO of Standard Chartered Malaysia in 2022. He has extensive experience in mergers and acquisitions and leveraged finance, having spent 15 years in Singapore before returning to Malaysia in 2017 to lead Corporate, Commercial, and Institutional Banking.

Novan Amirudin, Group CEO of CIMB Group, expressed confidence in Mak’s ability to advance the Group’s Forward30 strategy. “Mak’s deep regional experience and strong execution track record will accelerate our ambition in cross-border banking, regional wealth management, and investment advisory,” Amirudin stated.

CIMB, one of ASEAN’s leading banking groups, aims to strengthen its ASEAN franchise and position itself as a top-of-mind bank in the region by 2030. With a market capitalisation of approximately RM89 billion as of 31 December 2025, CIMB operates across ASEAN and beyond, with a significant presence in China, Hong Kong, and the UK.

The groundbreaking of Coronation Square Mall and two residential blocks in Johor Bahru marks a significant step in transforming the city centre into a bustling regional destination. The event, held on 7 May 2026, was attended by notable figures including YAB Dato’ Onn Hafiz bin Ghazi, Menteri Besar of Johor, and Ng Kuan Khai, Singapore’s Consul-General to Johor Bahru.

Strategically positioned in Johor Bahru’s city centre, Coronation Square will connect directly to the upcoming Johor Bahru-Singapore Rapid Transit System (RTS), enhancing cross-border mobility and establishing the development as a key business and lifestyle gateway. The project will feature the largest retail mall in the city, alongside residential, hospitality, medical, and commercial facilities.

Datuk Patrick Lim, Managing Director of Coronade Properties, stated, “Today’s groundbreaking marks the next phase of our vision to shape Johor Bahru into a connected and vibrant city centre. We are creating an ecosystem that supports businesses, creates jobs, and serves the daily needs of the community.”

In conjunction with the event, the Singapore Retailers Association (SRA) and CapitaLand Investment (CLI) signed a Memorandum of Understanding to aid Singapore retailers in expanding into Johor Bahru. This collaboration will facilitate market entry opportunities and provide insights into the local consumer landscape.

Vivien Lim, Vice President of SRA, highlighted Johor Bahru’s potential as a promising market for regional expansion. Tan Mui Neo, Managing Director at CLI, added that the partnership aims to connect retailers with market insights and opportunities, reflecting Coronation Square’s ambition to be “Where the World Meets Johor.”

As infrastructure improvements continue, Coronation Square is poised to play a pivotal role in Johor Bahru’s growth as a connected regional destination.

Export-Import Bank of Malaysia Berhad (EXIM Bank), a subsidiary of Bank Pembangunan Malaysia Berhad (BPMB) Group, has launched a solar-powered water purification system for the Orang Seletar community in Kampung Orang Asli Pasir Salam, Johor. This initiative aims to provide clean water to approximately 250 residents, aligning with the MADANI Economic Framework’s focus on inclusive development.

The project, driven by EXIM Bank’s Southern Regional Office, reflects the bank’s commitment to impactful community initiatives beyond its financial services. Zakiah Mat Esa, Chief Sustainability Officer of BPMB Group, highlighted the importance of such initiatives, stating, “As sustainability and inclusive development continue to gain greater global importance, initiatives such as this demonstrate how practical and scalable solutions can deliver meaningful outcomes whilst strengthening community resilience at the grassroots level.”

Implemented in collaboration with FCubed (Asia) Sdn. Bhd. and technology partner TierraBlue, the project supports the United Nations Sustainable Development Goal 6 (SDG 6) and Malaysia’s Twelfth Malaysia Plan. The Cubed Carocell 3000 Solar Water Farm, central to the initiative, operates without electricity or chemicals, producing at least 50 litres of clean water daily for 40 to 50 residents.

This initiative not only addresses immediate water needs but also serves as a model for future collaborations, reinforcing EXIM Bank’s dedication to sustainable development and community resilience.

CIMB Bank Berhad has introduced a pioneering salary account that includes complimentary Takaful protection, aiming to bolster financial resilience among Malaysia’s workforce. This innovative offering, part of the CIMB@Work programme, provides salaried individuals with up to RM200,000 in Takaful coverage for 36 critical illnesses, including cancer and heart attack, without additional costs or administrative hurdles.

The Takaful protection, underwritten by Sun Life Malaysia Takaful Berhad, also covers death and total and permanent disability. Account holders must maintain a monthly average balance of at least $530 (RM2,500) to qualify and sustain coverage. Notably, no health screening is required, except for pre-existing conditions.

Steven Sim Chee Keong, Malaysia’s Minister of Entrepreneur Development and Cooperatives, highlighted the initiative’s potential impact on small and medium enterprises (SMEs), which employ nearly half of Malaysia’s workforce. “The CIMB@Work programme is expected to benefit SMEs and their employees by providing accessible and practical financial protection,” he stated.

CIMB’s Group Consumer Banking CEO, Haniz Nazlan, emphasised the bank’s commitment to customer-centric innovation. “The CIMB Salary Account empowers Malaysian employees to build structured financial protection through their salary accounts in a simple, affordable, and transparent way,” he said.

In addition to Takaful coverage, eligible users can enjoy lower credit card qualification requirements and reduced financing rates. The launch includes a limited-time promotion doubling Takaful coverage for critical illnesses from May to July 2026.

The Sabah Trade and Tourism Office Singapore (STTOS) is reinforcing Sabah’s status as a key regional hub for trade, tourism, and investment through strategic initiatives and collaborations with Singapore. These efforts, spanning from 2022 to early 2026, aim to position Sabah as a gateway to the BIMP-EAGA region and a destination for sustainable economic growth.

Over the past year, STTOS has spearheaded several initiatives to bolster bilateral ties. Notable milestones include the Sabah Fest Singapore Edition, which highlighted Sabah’s cultural and trade potential, and the Market Readiness Seminar in Sandakan, designed to help Sabahan businesses enter the Singapore market. Additionally, Sabah’s participation in regional platforms such as SEMICON SEA and SMEICC has further positioned it as an emerging investment destination.

STTOS is actively promoting Sabah as a destination for high-value, low-impact investments, particularly in sectors like manufacturing, the blue economy, and eco-tourism. This focus aligns with global trends towards sustainability and resilience, offering a unique value proposition for investors.

The office continues to facilitate business matching, market entry support, and investment engagement, strengthening economic ties between Sabah and Singapore. Recent collaborations with the Singapore Business Federation and government agencies highlight the growing interest of Singaporean companies in expanding into Sabah, underscoring the region’s appeal as a sustainable investment destination.

Activate, North America’s fastest-growing interactive gaming experience, has launched its first Malaysian location in Kuala Lumpur. The venue, situated inside Pavilion Bukit Jalil, is a collaboration with Kara Holdings, a Southeast Asia-based entertainment group.

The 1,300 m² facility boasts 12 game rooms and over 800 levels, offering players a mix of physical and mental challenges. Teams of two to five players navigate through rooms, using reflexes, intelligence, and teamwork to conquer each game. “We’re bringing Activate to Malaysia for the first time,” said Robin Lim, CEO of Kara Holdings. “Players in Kuala Lumpur will run, think fast, and win together. Every session feels like a workout and a party.”

Since its inception in Canada in 2019, Activate has gained popularity by combining physical activity with gaming. The venue uses RFID tracking to monitor player progress, allowing guests to level up, unlock achievements, and compare scores globally. Adam Schmidt, Co-Founder and CEO of Activate, remarked, “Activate brings a new kind of energy to the market. From the moment players step in, they’ll feel the pace, the challenge, and the rush of the game.”

Currently operating over 70 locations worldwide, Activate plans to open 30 more in 2026, with further expansion across Southeast Asia, including future sites in Singapore.

Encik Tan, a brand under the Fei Siong Group, has launched its first outlet in Malaysia at Sultan Abdul Aziz Shah Airport, also known as Subang SkyPark. This move signifies the brand’s regional expansion, following its presence in Singapore and Jakarta. The new outlet aims to bring Singapore’s hawker culture to a broader audience, offering familiar Chinese hawker dishes prepared with Halal-certified ingredients.

The strategic location at Subang SkyPark places Encik Tan in a high-traffic area, catering to travellers, airport staff, and the local community. The brand’s entry into Malaysia is supported by a partnership with Bake With Yen, setting the stage for further expansion into key cities such as Kuala Lumpur and Johor. The outlet is currently in the process of obtaining Halal certification from Jabatan Kemajuan Islam Malaysia (JAKIM).

Encik Tan has a proven track record of demand, having sold over 10 million bowls of Fishball Noodles and 1.5 million plates of Chicken Cutlet Curry Rice since 2014. The menu also includes staples like Prawn Hokkien Mee and Claypot Chicken Rice, reinforcing its reputation for comforting, familiar meals.

To celebrate the opening, Encik Tan is offering a complimentary drink with every meal purchase from 7 to 8 May 2026. This promotion is available to passengers with a valid boarding pass and airport staff, limited to one redemption per person whilst stocks last.

IBPO Group Berhad, a leading fintech and financing solutions provider, has signed a Memorandum of Understanding (MOU) with Afsha Shariah Advisory Sdn Bhd, appointing them as the official Shariah adviser. This strategic move aims to bolster IBPO’s commitment to offering Shariah-compliant financial solutions amidst rising demand for ethical and responsible financing.

The collaboration will see Afsha support IBPO’s Islamic financing programmes, including iPersonal Financing, iBridge Financing, and Payday Financing, ensuring they adhere to Shariah principles. Andy Lim, Founder and Group Managing Director of IBPO, expressed pride in the partnership, stating, “This further reinforces our ongoing commitment to delivering an inclusive, ethical, and comprehensive Islamic financial ecosystem.”

Afsha’s Managing Director, M Aminuddin Bin Ismail, highlighted the firm’s mission to guide clients in structuring ethical and transparent Shariah-compliant financing solutions. “We look forward to guiding IBPO in structuring ethical and transparent Shariah-compliant financing solutions that meet the growing demand in Malaysia’s Islamic financial ecosystem,” he said.

The partnership aligns with Bank Negara Malaysia’s report indicating that Islamic financing accounts for 48% of Malaysia’s total financing, reflecting a significant demand for Shariah-compliant offerings. IBPO’s new iPersonal Financing programme offers flexible payment options and is accessible via their Online Customer Financial AI Portal, which provides AI-driven insights for better financial management.

This initiative is part of IBPO’s efforts to leverage AI capabilities, aiming to create an integrated financial ecosystem across its subsidiaries.

Singapore-based fintech company Aleta Planet has announced it has secured Money Services Business Class B and E-Money Issuer licences from Bank Negara Malaysia. These licences will enable the company to provide remittance and e-money services in Malaysia, marking the country as its second ASEAN hub.

The newly acquired licences complement Aleta Planet’s existing merchant acquirer licence, which allows the company to process credit and debit card payments. Founder and Group Chairman Ryan Gwee highlighted the significance of this development, stating, “Securing this approval from Bank Negara Malaysia is a key milestone for Aleta Planet as we expand our footprint in the region.”

Malaysia’s digital payments landscape is rapidly evolving, with the total transaction value projected to reach RM1.13t in 2026. This growth is driven by robust trade activity, with the country’s total trade value surpassing RM3t in 2025. Non-bank e-remittance volumes have also increased by 11%, reaching RM14.1b annually.

Aleta Planet aims to support Malaysia’s economic growth by facilitating high-value trade and payment flows, particularly for Chinese investors and tourists, as well as Malaysian exporters in sectors like machinery, technology, and agriculture. The company’s expansion strategy focuses on scaling trade and travel sectors between Malaysia and Singapore, enhancing cross-border payments, and supporting remittance and investment flows within ASEAN.

Founded in 2014, Aleta Planet is a global payments technology company operating across multiple regions, including Singapore, Hong Kong, Dubai, Malaysia, and Canada.