AirAsia X has announced the appointment of Tan Sri Jamaludin as its Independent Non-Executive Chairman, as the airline braces for rising fuel costs and global market uncertainties. The Group, known for its robust Asean network, remains optimistic about its business model and the region’s growth potential.

The appointment of Tan Sri Jamaludin is seen as a strategic move to provide independent oversight and a long-term perspective as AirAsia X focuses on growth. Despite the challenging environment, the airline is committed to enhancing Kuala Lumpur’s role as a central hub for affordable regional connectivity, driven by solid travel demand.

The Group’s confidence in its resilience is underscored by its strategy to navigate the complexities of the current aviation landscape. As the industry faces volatility, AirAsia X’s leadership aims to maintain its competitive edge and continue delivering seamless travel experiences across the region.

With Tan Sri Jamaludin at the helm, AirAsia X is poised to tackle the challenges ahead, reaffirming its commitment to its passengers and stakeholders. The airline’s focus on strengthening its network and operational efficiency is expected to support its growth trajectory in the coming years.

CIMB Islamic Bank Berhad has committed RM750,000 to the iTEKAD Melon Manis Terengganu Graduate Agropreneur Programme, empowering 40 students from underserved communities since 2023. The initiative, which focuses on sustainable agropreneurship, has successfully cultivated approximately 12,000 Melon Manis Terengganu plants, known for their high commercial potential.

The programme, in collaboration with Yayasan DiRaja Sultan Mizan and Universiti Sultan Zainal Abidin (UniSZA), aims to provide technical expertise, entrepreneurial skills, and essential resources to young agropreneurs. The launch of the second cohort was officiated by key figures from CIMB Group and UniSZA, marking the expansion of training and production across four greenhouses at UniSZA’s Besut Campus.

Novan Amirudin, Group CEO of CIMB Group, highlighted the programme’s role in leveraging Islamic social finance to foster inclusive and sustainable development. “By thoughtfully integrating financial inclusion with capacity building, we empower students to develop resilient livelihoods whilst strengthening local agro-based value chains,” he stated.

Participants from the inaugural cohort have reported an average income of RM3,000 per harvest season, demonstrating the viability of agropreneurship as a sustainable career path. Bazli Amin Baharin, a 25-year-old participant, expressed gratitude for the hands-on experience, which has bolstered his technical and business skills.

The iTEKAD initiative is part of CIMB Islamic’s broader efforts to support economic empowerment through structured financial support and market access, contributing to long-term resilience and social impact.

Nam Cheong Limited, a leading offshore support vessel provider based in Sarawak, Malaysia, has secured charter contracts worth up to RM102.5m. The contracts involve two offshore support vessels (OSVs) with a firm charter period of up to two years starting in 2026, with an option to extend for an additional year.

The contracts include an Anchor Handling Tug Supply (AHTS) vessel chartered to Offshore Oil Engineering Co., Ltd., a subsidiary of CNOOC, and a maintenance work vessel chartered to a regional independent oil producer. The AHTS vessel commenced operations in the first quarter of 2026, whilst the maintenance work vessel is set to begin in the second quarter of 2026. These vessels will support offshore oil and gas activities in Southeast Asia.

With these new charters, 25 of Nam Cheong’s 36-vessel fleet are now under long-term contracts, increasing the fleet’s long-term charter coverage to 69%. This move enhances the company’s revenue visibility and recurring income base. The company anticipates improved vessel utilisation rates in 2026, driven by the start of more long-term charters.

Chief Executive Officer Leong Seng Keat commented, “These charter contracts underpin our clients’ confidence in the quality of our fleet. Our average vessel age now stands at 9 years, lower than the market average, which provides a long runway.”

Nam Cheong continues to monitor the market closely, focusing on securing contracts that bolster its long-term earnings quality and resilience. The company remains committed to expanding its vessel chartering operations amidst robust offshore activity in Malaysia and tight OSV supply across Southeast Asia.

C-Hawk Technology, a California-based manufacturer of high purity plastics, has announced the expansion of its Southeast Asia operations with new facilities in Johor Baru, Malaysia, and Ho Chi Minh City, Vietnam. This move aims to meet the growing demand for localised production and advanced manufacturing in the semiconductor market.

The new facilities will introduce ultra-high-purity (UHP) orbital/TIG welding and PFA tube bending capabilities, enhancing C-Hawk’s service offerings. CEO Chase Zunino stated, “This investment reflects our commitment to growing alongside our customers and supporting their manufacturing operations in Southeast Asia.”

The Malaysian facility spans 200,000 square feet and currently employs over 300 people, with plans to increase to 400 by the end of 2026. It focuses on precision plastics and cleanroom assembly. Meanwhile, the Vietnam site, covering 96,000 square feet, specialises in contract manufacturing and full system builds, supporting complex semiconductor manufacturing programmes.

Peri Kasthuri, COO of C-Hawk, highlighted the strategic importance of these expansions, noting, “With expanded operations in Malaysia and Vietnam, we are strengthening our ability to support customers across multiple aspects of semiconductor equipment manufacturing.”

These expansions underscore C-Hawk’s long-term commitment to Southeast Asia as a pivotal manufacturing hub for the global semiconductor industry. The company is also engaging with regional universities and community programmes to foster local workforce development and engineering talent.

Oiltek International Ltd, listed on the Singapore Exchange, has partnered with Brunei-based BioSeaga Industries to develop a large-scale Sustainable Aviation Fuel (SAF) biorefinery in Sabah, Malaysia. The project, valued at $350m (RM1.65b), is set to commence in the fourth quarter of 2026, with an initial production capacity of 300 metric tonnes per day.

Oiltek Sdn Bhd, a subsidiary of Oiltek, has been appointed as the exclusive engineering, procurement, construction, and commissioning partner for the facility. The plant will utilise Palm Oil Mill Effluent and Used Cooking Oil as primary feedstocks, contributing to a multi-feedstock, modular, and scalable design. This initiative aims to position Sabah as a significant SAF production centre in the region.

The project is part of a broader SAF ecosystem that includes production, blending, and export. Future expansions are planned to incorporate advanced fuels such as green hydrogen and other low-carbon energy derivatives. Oiltek’s CEO, Henry Yong Khai Weng, stated, “The Board is of the view that the project will enable the Group to further deepen its participation in the rapidly expanding SAF value chain.”

Oiltek is also planning a secondary listing on the Main Market of Bursa Malaysia, with M&A Securities appointed as the adviser. Upon completion, the facility is expected to support aviation decarbonisation efforts globally, enhancing Oiltek’s role in the renewable energy sector.

John Wong has been appointed as the City Managing Director of BeLocal Kuala Lumpur, marking a pivotal step in BeLocal Global’s city-by-city expansion strategy. With over 30 years of leadership experience at major companies such as Kimberly-Clark, Deloitte, PepsiCo, Heineken, and Shell, Wong is set to lead one of BeLocal’s most significant city markets.

BeLocal Global, known for its commitment to building cultural standards, sees Kuala Lumpur and Selangor as crucial components in its growth as the global authority for vibes. This appointment underscores the platform’s dedication to strengthening its cultural network across cities worldwide.

Wong’s extensive expertise in strategy, consumer insights, and growth transformation is expected to drive BeLocal Kuala Lumpur’s development. His leadership is anticipated to enhance the city’s cultural landscape, aligning with BeLocal’s mission to establish a robust city-by-city cultural network.

This strategic move not only highlights BeLocal’s focus on Kuala Lumpur but also reinforces its long-term vision of expanding its influence and setting cultural benchmarks globally. As Wong takes the helm, BeLocal Kuala Lumpur is poised to become a key player in the platform’s international expansion efforts.

EI Power Berhad, a power engineering solutions provider, has entered into an underwriting agreement with M&A Securities Sdn Bhd, a subsidiary of M&A Equity Holdings Berhad, as it prepares for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad. This agreement marks a significant step towards the company’s listing, expected in the second quarter of 2026.

The IPO will involve the issuance of 129.5 million new ordinary shares, representing 18.5% of the company’s enlarged share capital, alongside an offer for sale of 70 million existing shares, accounting for 10% of the enlarged share capital. M&A Securities will underwrite 66.5 million of these shares, which will be available to the Malaysian public, eligible directors, employees, and shareholders of OCK Group Berhad.

EI Power Berhad, headquartered in Shah Alam, has a 16-year track record in providing engineering, procurement, construction, and commissioning services for power solutions. The company is recognised as a Class A Electrical Contractor by the Energy Commission Malaysia and a Grade G7 Contractor by the Construction Industry Development Board, allowing it to undertake projects of any contract value.

Executive Director and CEO Albert Chang Wan Siong stated, “The signing of this underwriting agreement with M&A Securities marks a key milestone as we progress towards our upcoming listing on the ACE Market of Bursa Securities.” The proceeds from the IPO will support the company’s strategic initiatives, including expanding operations and extending its geographic footprint into Thailand.

The growth of power-intensive facilities in Malaysia, driven by the relocation of multinational semiconductor and electronics manufacturers, is expected to increase demand for EI Power Berhad’s solutions.

DayOne Data Centres Limited, a Singapore-based global hyperscale data centre platform, has announced a RM28b investment in Malaysia by the end of 2026. This move aims to solidify its leadership in Malaysia’s data centre market and bolster the country’s status as a regional digital hub. The announcement was made at the inaugural Tech & AI Career Expo in Kuala Lumpur.

The investment will see Malaysia become DayOne’s largest global operational footprint, with the country accounting for over 50% of the firm’s workforce growth by 2026. This expansion is expected to create more than 5,000 jobs across the supply chain and over 200 high-value roles in finance, procurement, and corporate functions through the Phase II expansion of its Global Shared Services Centre in Kuala Lumpur.

DayOne also introduced two talent programmes to nurture young talent through internships and graduate pathways, aiming to train over 1,000 data centre engineers at its Regional Operations and Training Hub in Johor. “Malaysia is not just a market for DayOne; it is a long-term commitment,” said Jamie Khoo, CEO of DayOne.

The Tech & AI Career Expo, attended by over 1,000 participants, 30 companies, and 13 universities, served as a platform for connecting talent with opportunities in the technology and AI sectors. The event was supported by Malaysian government agencies, including the Malaysian Investment Development Authority and Malaysia Digital Economy Corporation.

Following this event, DayOne plans to extend its talent engagement initiatives across the region, with the next event scheduled in Thailand later in April.

Airwallex, a global financial and payments platform, has announced its full commercial launch in Malaysia after obtaining e-money issuance and Class A licences from Bank Negara Malaysia. These approvals allow Airwallex to offer a comprehensive suite of financial services, positioning it as one of the few non-bank entities in Malaysia with such capabilities.

The new licences enable Airwallex to provide a unified platform supporting payments, foreign exchange (FX), and multi-currency accounts. This development is timely as Malaysian businesses increasingly expand internationally, necessitating scalable financial infrastructure. Arnold Chan, General Manager for Asia-Pacific at Airwallex, stated, “Malaysia is a strategic market for Airwallex, and these approvals enable us to bring our full financial infrastructure to businesses on the ground.”

Building on its existing Class B Money Services Business licence and Registered Merchant Acquirer status, Airwallex has processed over RM2b in remittance volume in 2025. The company plans to double its local team in 2026, reflecting its commitment to the Malaysian market.

Airwallex’s expansion comes as Malaysia’s digital economy is set to contribute 30% of GDP by 2030, highlighting the growing need for seamless financial services. As Chan noted, “We provide the infrastructure businesses need to operate more efficiently and with greater control.”

With these regulatory approvals, Airwallex is poised to support Malaysian businesses in their global operations, reinforcing Malaysia’s role as a regional growth hub.

NEC Corporation of Malaysia has announced the appointment of Takayuki Inaba as its new Managing Director, effective immediately. Inaba, who also serves as President and CEO of NEC Asia Pacific, brings nearly 40 years of experience at NEC Corporation. His extensive background in driving business growth and forming strategic partnerships across Asia positions him as the ideal leader to guide NEC Malaysia through its next phase of development.

Inaba’s career at NEC is marked by significant leadership roles, including his tenure as Chairman and President of NEC India Pvt. Ltd. and Chairman Representative of NEC (China) Co., Ltd. These roles have equipped him with the expertise to expand NEC’s presence in some of Asia’s most dynamic markets. His appointment is expected to bolster NEC Malaysia’s strategic initiatives and enhance its competitive edge in the region.

The decision to appoint Inaba underscores NEC’s commitment to strengthening its operations in Malaysia, a market seen as pivotal for the company’s growth in Southeast Asia. With Inaba at the helm, NEC Malaysia aims to leverage his experience to drive innovation and expand its market share in the telecommunications and technology sectors.

Inaba’s leadership is anticipated to play a crucial role in navigating the challenges and opportunities within Malaysia’s rapidly evolving tech landscape. As NEC Malaysia embarks on this new chapter, the company is poised to enhance its contributions to the local economy and reinforce its position as a leader in technology solutions.