Malaysia’s card payments market is projected to grow by 6.1% in 2025, reaching MYR408.5b (US$89.3b), according to GlobalData. This growth is attributed to increased electronic payment adoption, government initiatives to enhance digital payment infrastructure, and expanded access to banking services. The forecast follows a 9.7% increase in card payment value in 2024, which reached MYR385.2b (US$84.2b).

The expansion is supported by the government’s financial inclusion efforts and the proliferation of point-of-sale (POS) systems. Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, noted, “Malaysia’s card payments market is steadily building momentum as the ecosystem shifts towards electronic payments.” He highlighted the role of government initiatives and improved payment acceptance infrastructure in this growth.

Debit card payments are expected to account for 41% of the total card payment value in 2025, driven by a growing banked population and accessible payment cards. Credit and charge cards, despite lower penetration, will represent 59% of the market, bolstered by banks’ reward programmes and instalment options.

The market’s growth is further propelled by low-cost POS solutions, enhancing small and medium enterprise acceptance. For instance, Hong Leong Bank and CIMB offer advanced POS terminals to facilitate contactless and mobile payments.

Looking ahead, Malaysia’s card payments are forecast to rise to MYR538b (US$117.6b) by 2029, marking a 31.7% increase. However, economic and geopolitical challenges, such as US tariffs, may impact consumer spending.

Syntec Technology, a leader in smart manufacturing solutions, has announced the Phase II development of its Syntec Intelligence Technology Sdn. Bhd. facility in Malaysia, with an investment exceeding RM78m. This expansion is designed to address increasing demand from the machine tool industry, particularly in India, and to enhance the company’s global supply chain resilience.

The expansion, part of Syntec Group’s strategy to adapt to rapid changes in the global manufacturing landscape, will be implemented in phases. This approach allows for operational flexibility and helps manage execution and geopolitical risks. Otis Siah, Global Director of Syntec Intelligence, stated, “Establishing and expanding our operations in Malaysia is a strategic move to better support fast-growing demand across ASEAN.”

Scheduled for completion in early 2027, the new facility will manufacture and test industrial controllers and assemble intelligent robotic arm systems. It is expected to become a key manufacturing hub for markets in India, Turkey, ASEAN, and the United States, reducing delivery lead times and enhancing local supply capabilities.

Grant Kuo, Independent Director of Syntec Technology, emphasised the project’s significance, stating, “By strengthening our overseas manufacturing footprint, we are enhancing supply chain flexibility whilst positioning the group to capture sustainable growth in multiple high-potential markets.”

The project, developed in partnership with Malaysian construction firm Pembinaan Tuju Setia Sdn. Bhd., will incorporate green building design and energy-efficient construction methods, aligning with Syntec’s environmental, social, and governance commitments. This expansion is part of Syntec’s long-term strategy to deliver stable and sustainable growth globally.

Kärcher Cleaning Systems Sdn. Bhd, celebrating its 90th anniversary, has donated professional cleaning equipment worth $8,600 (RM40,592) to Zoo Negara in Malaysia. This initiative, announced on 23 December 2025, aims to elevate the zoo’s cleaning standards with sustainable and high-performance solutions.

The handover event took place on 19 December, marking a significant collaboration between Kärcher Malaysia and Zoo Negara. The donation underscores Kärcher’s commitment to community and environmental care, aligning with its global mission to support sustainable practices.

The advanced cleaning technology provided by Kärcher is expected to significantly improve the maintenance of Zoo Negara’s facilities. This partnership not only enhances the cleanliness of the zoo but also contributes to the well-being of the animals and the overall visitor experience.

Kärcher Malaysia’s donation is part of its broader corporate social responsibility efforts, which focus on environmental sustainability. The company believes that by providing state-of-the-art cleaning solutions, it can help institutions like Zoo Negara maintain high standards of hygiene and care.

This collaboration is anticipated to set a precedent for future partnerships between corporations and public institutions, promoting sustainable practices and community support. As Kärcher continues to celebrate its milestone anniversary, it remains dedicated to fostering positive environmental impacts through its innovative cleaning technologies.

Malaysia Smelting Corporation Berhad (MSC), a prominent tin miner and metal producer, has appointed Nicolas Chen Seong Lee and Lam Hoi Khong as Co-Group Chief Executive Officers, effective 1 January 2026. This strategic move follows the retirement of Dato’ Dr. Patrick Yong Mian Thong, who will continue to serve on the Board as an Adviser, providing strategic guidance and overseeing new projects.

The dual leadership model aims to enhance MSC’s operational effectiveness, governance, and strategic execution, ensuring continuity and sustainable growth. Chen will focus on operational, corporate, and institutional matters, whilst Lam will manage financial, sales/marketing, commercial, and governance-related functions.

The Board of Directors expressed gratitude for Dato’ Patrick’s leadership, under which MSC achieved significant milestones and established a strong foundation for growth. MSC, a subsidiary of The Straits Trading Company Limited, is listed on both the Main Market of Bursa Malaysia and the Main Board of Singapore Exchange.

UltraGreen.ai, a leader in fluorescence-guided surgery and digital health solutions, has achieved significant regulatory milestones with approvals for its Verdye (indocyanine green for injection) in the Philippines and IC-Flow Imaging System V2 in Malaysia. These approvals mark a crucial step in the company’s strategic expansion across Southeast Asia, a region experiencing a surge in healthcare demand.

The approvals enable UltraGreen and its local partners to support education, training, and the broader clinical adoption of indocyanine green-based techniques among surgeons in both countries. This development is particularly timely as surgical demand rises in oncology, colorectal, and reconstructive care across the region.

Fluorescence-guided surgery using indocyanine green has become an essential tool in various surgical procedures. The IC-Flow Imaging System V2’s approval in Malaysia facilitates the use of fluorescence imaging technology in clinical settings, whilst Verdye’s approval provides Filipino clinicians access to a globally recognised, high-quality product.

Declan Cassells, Chief Operating Officer of UltraGreen, stated, “These approvals represent far more than regulatory milestones – they pave the way for delivering proven surgical technologies to healthcare systems across Southeast Asia.”

UltraGreen’s commitment to advancing precision surgery through high-quality pharmaceutical, imaging, and data-driven solutions is further solidified by these approvals, strengthening its presence in Southeast Asia.

Lendlease has announced a significant partnership with a Malaysian family office, selling a 40% interest in The Exchange TRX retail mall and its entire 60% stake in the adjacent office asset. This transaction, valued at approximately $234m (RM1.1b), marks a pivotal step in Lendlease’s capital recycling programme and highlights the strong performance and appeal of the Kuala Lumpur-based precinct.

Since its opening in 2023, The Exchange TRX has rapidly become a leading retail destination in Malaysia, attracting high-profile international brands such as Apple, Gentle Monster, Alo Yoga, and Molton Brown. In its inaugural year, the mall achieved $561m (RM2.64b) in sales and welcomed 45 million visitors, reinforcing its status as a major draw for both shoppers and retailers.

Lendlease will maintain a 20% stake in the retail mall and continue to manage the assets, whilst retaining a 60% interest in the residential land plots and the completed hotel. The transaction is expected to finalise in the second half of FY26, pending the satisfaction of conditions precedent.

Justin Gabbani, CEO of Investment Management at Lendlease, remarked, “The strong performance of The Exchange TRX highlights the quality and appeal of the precinct, and introducing an established Malaysian partner is a strong endorsement of that success.” Stuart Crow, CEO of Capital Markets Asia Pacific at JLL, added, “The Exchange TRX has reshaped Kuala Lumpur’s skyline and is now firmly established as Kuala Lumpur’s pre-eminent retail, commercial and entertainment destination.”

This partnership underscores confidence in the long-term potential of The Exchange TRX, positioning it as a key player in Kuala Lumpur’s evolving urban landscape.

One Universal Production Group (OUP), a prominent intellectual property ecosystem and tourism company in Asia, has officially opened its new corporate building in Kuala Lumpur, Malaysia. This development marks a significant milestone in OUP’s mission to deliver world-class entertainment and educational experiences across the region.

The new facility is expected to bolster OUP’s capabilities in creating innovative content and attractions, further solidifying its reputation as a leader in the industry. The company has been instrumental in developing a range of entertainment and edutainment offerings that cater to diverse audiences across Asia.

During the event, OUP formalised a Memorandum of Understanding (MOU) with Kayou Cultural Creativity Co., Ltd., China’s largest collectible card company. Under the partnership, Kayou will enter the Malaysian market alongside OUP, introducing new IP-driven collectible products and entertainment concepts aimed at Southeast Asian fans.

OUP also unveiled its upcoming international development roadmap, including the Hadi Excellence Collection – Thematic Safari Villas in the UAE, and the Hadi Premium Collection in Malaysia, featuring Malaysia’s first sea-front crystal-clear lagoon villas.

As OUP continues to innovate and expand, the new corporate building is set to play a crucial role in driving the company’s future growth and success in the competitive entertainment and tourism sectors.

Wawasan Dengkil Holdings Berhad has received shareholder approval for a joint venture to develop a 70 megawatt solar photovoltaic plant in Kedah, marking its strategic entry into the renewable energy sector. The joint venture, involving Wawasan Dengkil Sdn Bhd, Nestcon Infra Sdn Bhd, and WD Solar Kedah Sdn Bhd, will see the construction of the plant under the LSS Petra 5+ programme.

Wawasan Dengkil Sdn Bhd will hold a 70% stake in the joint venture, with Nestcon Infra Sdn Bhd holding the remaining 30%. The project, known as Project LSS5+, is expected to cost $39.6m (RM187m), with 85% financed through bank loans and the rest through equity and shareholder advances.

The diversification into renewable energy aligns with Malaysia’s growing emphasis on environmental, social, and governance (ESG) practices. Executive Director Lim Soon Yik stated, “The Proposed Diversification reflects the Group’s strategic progression beyond our core construction activities.”

The solar plant is set to begin construction in Q3 2026, with operations expected by 29 February 2028. It will operate under a 21-year Solar Power Purchase Agreement with Tenaga Nasional Berhad, providing long-term income through renewable electricity sales.

Wawasan Dengkil continues to maintain a robust construction pipeline, managing 13 ongoing projects with an unbilled order book of $73.8m (RM348.7m). The company also recently secured a $3.4m (RM16.1m) contract for flood mitigation works in Selangor.

Looking forward, the company is optimistic about its prospects, supported by a tender book of $339.4m (RM1.6b) and Malaysia’s National Energy Transition Roadmap, which aims for a 70% renewable energy share by 2050.

Datuk Seri Ir. Dr. Wee Ka Siong, a distinguished alumnus of Universiti Teknologi Malaysia (UTM), has officially launched the TAR UMT Arena, a 15 million square foot hub designed to revolutionise higher education and youth development in Malaysia. The unveiling, attended by leaders from education, industry, and government, marks a significant investment in nurturing the nation’s future talent.

The TAR UMT Arena is set to redefine Malaysia’s approach to education by fostering innovation and holistic student development. Dr. Wee, known for his leadership as Malaysia’s Minister of Transport during the COVID-19 pandemic, has consistently demonstrated his commitment to nation-building through education and innovation. His career spans various senior national roles, including Deputy Minister of Education, where he focused on equitable access and quality reform.

Dr. Wee’s recent appointment as an investment adviser for the Chinese community in Malaysia, with a focus on the halal industry, highlights his ability to bridge engineering expertise with economic foresight. The TAR UMT Arena stands as a testament to Dr. Wee’s vision, embodying Malaysia’s commitment to sustainable innovation and youth empowerment. His journey from a UTM engineering student to a national leader exemplifies the university’s mission to cultivate graduates who integrate scientific knowledge, innovation, and social responsibility.

Malaysian Reinsurance Berhad (Malaysian Re) has released the ninth edition of its annual research publication, ASEAN Insurance Pulse 2025. This edition delves into the premium retention capacity and capabilities of ASEAN insurance markets for large, complex risks, offering strategies to enhance the region’s ability to underwrite and retain more risk.

The report, based on interviews with senior executives from insurance and reinsurance companies across ASEAN, reveals that despite rising demand for risk protection driven by factors such as increasing incomes and climate change, the region’s insurance markets face significant challenges. Ahmad Noor Azhari Abdul Manaf, President and CEO of Malaysian Re, noted that “penetration rates remain relatively low, even in the most mature re/insurance markets,” with limited capacity and retention ratios, especially for large and capital-intensive risks.

Key findings indicate that ASEAN’s ability to manage these risks is hampered by correlated risks, limited surplus capital, and uneven technical capabilities. The report also highlights the uneven access to advanced catastrophe modelling and actuarial skills across the region, compounded by trade barriers that limit competition and innovation.

To address these issues, the report suggests establishing regional insurance pools, adapting domestic solvency frameworks, and enhancing regional expertise, particularly in catastrophe modelling. The report emphasised the importance of collaboration among industry and public-sector stakeholders to build a resilient insurance ecosystem, stating that the insights from the 2025 edition aim to guide insurers, regulators, and policymakers in strengthening ASEAN’s insurance industry.