MIDA, DAIKIN AND SHRDC COLLABORATE TO STRENGTHEN LOCAL SUPPLIER CAPABILITIES THROUGH SUPPLY CHAIN DEVELOPMENT PROGRAMME

Image 1: Opening remarks by Mr. Faizal Jalaludin, Executive Director, Investment Promotion, MIDA




SHAH ALAM, Selangor, May 22 (Bernama) -- The Malaysian Investment Development Authority (MIDA), in collaboration with Daikin Malaysia Sdn. Bhd. and the Selangor Human Resource Development Centre (SHRDC), successfully organised the MIDA – Daikin Supply Chain Programme (Awareness Session), aimed at helping Malaysian suppliers and local SMEs strengthen their competitiveness and participate more actively in global manufacturing supply chains.

Held on 21 May 2026 at SHRDC, Shah Alam, the programme brought together more than 100 participants comprising Daikin’s ecosystem partners such as Daikin Electronics Devices Malaysia, local SMEs, financial institutions and government agencies. The session provided practical guidance on supplier requirements, digital transformation, smart manufacturing and financing support to help Malaysian companies grow, upgrade their operations and better meet the evolving requirements of multinational corporations.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of MIDA, emphasised, "Integrating Malaysian SMEs into global value chains is critical to sustaining our nation's industrial competitiveness. Through targeted vendor development programmes like this, MIDA is helping Malaysian SMEs build the capabilities needed to become trusted partners in global supply chains. When Malaysian companies become part of the global chain, the impact goes beyond business growth. It creates better jobs, strengthens local industries, encourages technology adoption and opens more opportunities for Malaysians to participate in higher-value economic activities."

Speaking on the importance of ecosystem collaboration in supporting industrial transformation, SHRDC highlighted that talent development remains a key foundation in strengthening industry competitiveness and future readiness.

Ms. Teh Sook Ling, Executive Director of SHRDC, said, “At SHRDC, we believe that transformation begins with people. Guided by our tagline, Leading Transformation Through Training, we continue to champion a people-first strategy in supporting industry growth and future readiness. Through SINERGI, we are able to strengthen the support ecosystem by connecting talent, technology, policy makers, industry, and collaboration under one platform — enabling industries not only to transform, but to accelerate transformation collectively and sustainably.”

Ms. Ho Much Jia, VP, Procurement, Daikin Malaysia Sdn. Bhd., said, “At Daikin, we believe a strong manufacturing ecosystem is built upon capable and future-ready suppliers. Through this collaboration with MIDA and SHRDC, we strive to support local companies in strengthening their capabilities, accelerating digital transformation and adapting to evolving industry requirements. By fostering closer collaboration across the supply chain, we can collectively build a more resilient, connected and sustainable manufacturing ecosystem that creates long-term value for both industry and the nation.”

The programme featured opening remarks by Mr. Faizal Jalaludin, Executive Director, Investment Promotion, MIDA, and Mr. Sukri Abu Bakar, Director of MIDA’s Domestic Investment Division, both of whom underscored MIDA's proactive facilitation role in supporting scaling companies, including assistance with Manufacturing Licence applications and regulatory compliance.

Due to the strong response, the programme was conducted in two sessions to accommodate overwhelming participation from industry players and SMEs. The sessions featured presentations by representatives from MIDA, Daikin Malaysia, Daikin Electronics Devices Malaysia, SHRDC, Alliance Bank and industry players, covering supplier requirements, smart manufacturing transformation, sustainable supply chain development and financing solutions to support digitalisation. Participants also toured SHRDC’s facilities to gain first-hand exposure to automation, digitalisation and Industry 4.0 applications.

Due to the strong response, the programme was conducted in two sessions to accommodate overwhelming participation from industry players and SMEs. The sessions featured presentations by representatives from MIDA, Daikin Malaysia, Daikin Electronics Devices Malaysia, SHRDC, Alliance Bank and industry players, covering supplier requirements, smart manufacturing transformation, sustainable supply chain development and financing solutions to support digitalisation. Participants also toured SHRDC’s facilities to gain first-hand exposure to automation, digitalisation and Industry 4.0 applications.

The initiative reflects MIDA’s proactive efforts to deepen domestic supply chain capabilities and broaden the participation of local companies in high-value industries. Through targeted initiatives such as the Supply Chain Programme, the Grow Local Great initiative, the Enterprise Growth Platform (EGP) and the #InvestLokal campaign, MIDA connects Malaysian SMEs with multinational corporations, facilitates technology adoption and supports capability upgrading in line with the aspirations of the New Industrial Master Plan 2030 (NIMP 2030). These efforts are aimed at enabling more Malaysian companies, especially SMEs, to grow alongside multinational corporations and participate more meaningfully in the country’s industrial development.

Refer this link for contact details and enquiries: https://tinyurl.com/5dujf5sr

SOURCE: Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT:
MIDA
Name: Mr. Sukri Abu Bakar
Director
Domestic Investment Division
Tel: +603 2267 3685
Email: sukri@mida.gov.my

--BERNAMA

EMGA ARRANGES US$15 MLN OEEB FINANCING FOR ASIA ALLIANCE BANK

KUALA LUMPUR, May 22 (Bernama) -- Emerging Markets Global Advisory LLP (EMGA) announced that OeEB has provided a US$15 million financing facility to Asia Alliance Bank (AAB) to support funding for small and medium-sized enterprises (SMEs), women entrepreneurs and green projects in Uzbekistan. (US$1=RM3.95)

According to EMGA in a statement, the transaction supports AAB’s efforts to expand sustainable and private sector financing while diversifying its international funding sources.

EMGA Managing Director and Head of Investment Banking, Sajeev Chakkalakal said the financing would support the development of Uzbekistan’s micro, small and medium-sized enterprises (MSME) and green sectors.

Meanwhile, AAB Chief Executive Officer (CEO), Umidjon Abduazimov said the facility reflects growing confidence among international development finance institutions in Uzbekistan’s banking sector and economic potential.

On the other hand, OeEB CEO and Executive Board member, Sabine Gaber said the partnership aligns with the institution’s priorities of improving access to finance, supporting women-owned businesses and promoting green investments.

AAB is a private commercial bank in Uzbekistan focused on corporate, SME and retail banking services, while OeEB is Austria’s development bank that supports sustainable economic projects in emerging markets.

EMGA is an emerging markets-focused investment banking advisory firm with offices in New York and London. The firm advises financial institutions, corporates and project sponsors on debt and equity capital raising, with a focus on developing economies, including Uzbekistan.

-- BERNAMA

Kays + Kins Announces Grand Opening of First Flagship Store in Malaysia

(L-R) Mr Adrian Cheah, General Manager of Marketing, Pavilion Bukit Jalil, Mr. Lee Jia Wei, Founder of GAIAS Home, Mr. Tan Kien Yow and Ms. Karine Low, Founders of Kays + Kins, Ms. Katie Tan, Kays + Kins’ advisor, Ms. Irene Ong, Head of Retail of Kays + Kins

 
KUALA LUMPUR, May 21 (Bernama) -- Kays + Kins, the comfort-driven, design-led lifestyle brand for modern families, has officially announced the opening of its first physical flagship store in Malaysia. Located at Pavilion Bukit Jalil, the new boutique marks an exciting milestone for the homegrown brand, previously only available online, offering customers a warm and personal space to experience its thoughtfully designed baby essentials firsthand.

Known for its elevated essentials made for practical baby wear, Kays + Kins has built a loyal following through its signature approach to comfort, quality and timeless design. Designed with South East Asia’s warm and humid climate in mind, the brand’s collections feature relaxed, non-body-hugging silhouettes and soft, breathable fabrics that support ease of movement and all-day comfort for babies and toddlers.

The opening of its first physical store brings the Kays + Kins experience to life beyond the digital space, giving customers the opportunity to feel the softness of its fabrics in person, discover the details behind its hand-painted prints, and shop in an environment that reflects the brand’s calm and intentional aesthetic.

“As we grew our brand in Malaysia, our community has always asked for a space where they can experience our fabrics in person and discover for themselves the details that make each piece special, such as the softness of our bamboo muslins and the hand-painted details of our prints,” says Karine Low, Founder of Kays + Kins.

“So with the opening of this physical store, we wanted to go beyond retail to create more personal experiences of the brand. We wanted a space where parents and gift-givers can take their time, feel the quality of our pieces, and find something that is both practical and beautiful for everyday family life,” she added.

At the heart of Kays + Kins is a comfort-first design philosophy. Each piece is created to feel gentle, breathable and easy to wear, especially in tropical weather. The brand’s fabric choices are selected not just for softness on first touch, but for how they continue to feel over time, remaining soft and comfortable even after repeated washes, making them especially suited for daily use.

This focus on thoughtful design also extends to the brand’s visual identity. Kays + Kins is known for its limited, hand-painted prints that are intentionally designed to feel timeless and distinctive, rather than mass-produced. Together with its understated colour palette and refined product styling, the brand offers a lifestyle sensibility that resonates with modern parents looking for baby essentials that are as beautiful as they are functional.

Beyond everyday wear, gifting plays a key part of the Kays + Kins brand experience. The flagship store is designed to support meaningful and even last-minute gifting moments, with a curated range of newborn gift sets, Bamboo Muslin Swaddles, signature two-way zipper Growsuits and Sleepsuits, customisable wooden keepsake boxes with personalised engraving services, and the exclusive Heritage Collection available only in-store. The ideal go-to place for baby showers, full-moon celebrations or simply welcoming a newborn, the store offers customers a thoughtful and convenient destination for gifts that feel personal and memorable.

The boutique itself features a minimalist, earthy-luxe interior inspired by nature, creating a calm and inviting environment for families and gift-givers alike.

While comfort, design and experience remain central to the brand, Kays + Kins also maintains a strong commitment to quality and responsible production. Its collections include GOTS-certified organic cotton and OEKO-TEX certified garments, providing parents with added assurance that every piece meets recognised standards for safety and care.

To celebrate its opening, Kays + Kins is offering 20% off the purchase of three items as part of its Grand Opening promotion. Running till 30 April 2026, the promotion is applicable to all products except Bundle Deals.

For further information about Kays + Kins and its product offerings, please visit kaysandkins.com.

About Kays + Kins
At Kays + Kins, comfort always comes first. We design everyday babywear to feel as good as it looks — gentle on delicate skin, breathable, and made to support real parenting moments.

Functionality is thoughtfully built into every detail, from easy-to-wear silhouettes to durable fabrics that move with your baby. Beyond clothing, we extend this same care to gifting — creating beautiful newborn gifts that are meaningful, practical, and made for everyday comfort.

Each season features unique, limited-edition prints, hand-illustrated and released in small quantities, making every piece quietly special and distinctive.

Made with GOTS-certified organic fabrics, Kays + Kins pieces prioritise softness, safety, and sustainability — offering babies comfort, beauty, and care from the very beginning.

Issued on behalf of Kays + Kins by GO Communications Sdn Bhd.

SOURCE: Kays + Kins Malaysia

FOR MORE INFORMATION, PLEASE CONTACT:
Tel: +603-2711 9566
Email: hello@kaysandkins.com

GO Communications Sdn Bhd
Name: Amanda Yee
Senior Brand Executive
Tel: +6016 319 2629
Email: amandayee@gocomm.com.my

Name: Choulyin Tan
Chief Operating Officer
Tel: +6016 856 7286
Eamil: choulyin@gocomm.com.my

--BERNAMA

PCG Demonstrates Resilience in 1Q2026 with Strong Plant Utilisation and Improved Earnings

• Plant Utilisation of 97%
• Revenue of RM7.0 billion
• EBITDA of RM1.2 billion

KUALA LUMPUR, May 21 (Bernama) -- PETRONAS Chemicals Group Berhad (PCG or the Group) today announced its financial results for the first quarter of financial year 2026 (1Q 2026), delivering strong plant utilisation rate of 97% and improved earnings against a backdrop of heightened market volatility. The quarter saw escalation of the West Asia conflict which tightened supply, pushing energy and product prices higher.

Key highlights 1Q 2026 vs 4Q 2025

1Q 2026 4Q 2025
Plant Utilisation (%) 97 96
Revenue (RM million) 7,015 6,600
EBITDA (RM million) 1,175 115
EBITDA margin (%) 16.7 1.7
PAT/(LAT) (RM million) 427 (730)
PATANCI (RM million) 401 (754)
PATANCI: Profit After Tax and Non-Controlling Interest
Revenue rose 6% quarter‑on‑quarter to RM7.0 billion, supported by higher average prices for commodity products as well as improved sales performance in the Specialty Chemicals portfolio.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased to RM1.2 billion, driven by stronger average product spreads and lower operating costs. EBITDA was further supported by higher contribution from the Specialty Chemicals portfolio, reflecting improved sales volumes and the sale of emission rights by Perstorp.
Profit After Tax (PAT) increased to RM427 million, compared with a Loss After Tax (LAT) of RM730 million in 4Q 2025, mainly due to improved operating performance, lower unrealised foreign exchange losses and gain on disposal of investments.

Portfolio Performance

Commodities

During the quarter, the Fertilisers & Methanol (F&M) segment delivered strong operational performance at plant utilisation rate of 103%. Average product prices rose by approximately 18% for urea and 13% for methanol, supported by tight global supply and strong seasonal demand. Segment revenue increased to RM2.6 billion, while EBITDA rose 49% to RM1.1 billion, driven by improved product spreads.

The Group’s Olefins & Derivatives (O&D) segment recorded a plant utilisation rate of 87%, mainly due to planned maintenance activities at the MTBE plant. Segment revenue increased 5% quarter‑on‑quarter to RM2.9 billion, supported by higher average product prices and improved sales volumes. Loss Before Interest, Tax, Depreciation and Amortisation (LBITDA) significantly improved to RM91 million from RM600 million in 4Q 2025, driven mainly by higher average product spreads and lower plant operating costs.

Specialty Chemicals

The portfolio recorded higher sales volume, particularly in Intermediates, supported by a rebound in demand following customer restocking activities. Quarter‑on‑quarter revenue increased 17% to RM1.4 billion, driven mainly by improved sales volumes. EBITDA improved to RM198 million, reflecting higher revenue, contributions from the sale of emission rights and value realised from ongoing cost optimisation initiatives.

Mazuin Ismail, PCG Managing Director/Chief Executive Officer said:

“The West Asia conflict reshaped our operating landscape with remarkable speed, creating a more volatile and complex environment. It also underscored the vulnerability of the industry supply chains, given the region’s strategic importance in global feedstock and chemicals supply.

“Our integrated model secures a reliable, domestically sourced feedstock for our gas-based operations in Malaysia through an extensive pipeline network, helping to mitigate the impact of disruptions in global supply.

“The improvement in EBITDA reflects the underlying strength and resilience of our business model, together with our sustained emphasis on operational and commercial excellence, supported by disciplined cost management.

“We continue to undertake portfolio review and rationalisation exercise that ensures our investments, value chain and product offerings are robust and in line with evolving market requirements. During the quarter the Group has divested investments in a subsidiary and an associate resulting in total gain on disposals of RM63 million.

“Our commitment to safe and reliable operations remains unwavering, particularly as we undertake scheduled turnaround activities at several O&D plants in Kertih and the fertiliser plant in Bintulu in the second quarter."

Outlook

The operating environment is expected to remain volatile, shaped by ongoing geopolitical developments, supply chain disruptions and softer downstream demand.

In the O&D segment, prices are expected to moderate on affordability constraints affecting demand from downstream manufacturers. Fertilisers will continue to be supported by global food security priorities and export restrictions in key producing regions, while methanol supply is set to tighten on scheduled regional plant turnarounds. In the Specialties segment, the Group remains cautious given the subdued construction and automotive end markets, while demand for consumer goods is showing modest growth.

Against this backdrop, PCG remains focused on operational and commercial excellence as well as strict financial discipline to sustain resilience and competitiveness through the cycle.

About PETRONAS Chemicals Group Berhad

PETRONAS Chemicals Group Berhad (PCG) is Malaysia's leading integrated chemicals producer and one of the largest in Southeast Asia by capacity. The Group operates a network of world-class production sites across Malaysia, Asia-Pacific, Europe and North America with a total combined production capacity 16.8 million metric tons per annum (mtpa).

PCG is involved primarily in manufacturing, marketing and selling a diversified range of chemical products, including olefins, polymers, fertilisers, methanol, other basic chemicals, derivative products and specialty chemicals.

Listed on Bursa Malaysia and backed by more than four decades of experience in the chemicals industry, PCG is established as part of the PETRONAS Group to maximise value from Malaysia’s natural gas resources.

PCG is committed to ensuring that its business practices are in line with globally recognised Economic, Environment, Social & Governance (EESG) standards, as reflected in its long-standing inclusion in the FTSE4Good Bursa Malaysia Index.

Further details on PCG can be found at www.petronas.com/pcg

For photos, please click here:
https://drive.google.com/drive/folders/1XqJ0o_ddplDTsbwKhTRugehub56RQe-t?usp=sharing

SOURCE: PETRONAS Chemicals Group Bhd (PCG)

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Gary Khoo Tse-Yau
Corporate Communications Department
PETRONAS CHEMICALS GROUP BERHAD (PCG)
Tel : (6) 012 932 9280
Email : khoo.tseyau@petronas.com

--BERNAMA

AUDIENCERATE APPOINTS RICCARDO FABBRI AS CTO

Riccardo Fabbri, Chief Technology Officer of Audiencerate Ltd. Co-founder and former managing partner of Nohup, recognized by the Financial Times among Europe's leading firms in the sector (2021 and 2022) and acquired by the Havas Group in August 2021. Leads the AI-driven phase of Audiencerate's independent Customer Match infrastructure.

KUALA LUMPUR, May 21 (Bernama) -- Audiencerate Ltd, a data activation specialist, has appointed Riccardo Fabbri as Chief Technology Officer (CTO) to lead the company’s artificial intelligence (AI)-driven expansion initiatives.

The appointment marks a dual expansion phase for the Audiencerate–Postel–Microsoft platform serving Italian small and medium-sized enterprises (SMEs), as well as the data platform integrated with Google DV360 for agencies and data providers.

Audiencerate President, Gianluca Leotta said Fabbri brings extensive experience in digital transformation, cloud-native development and media technology.

According to the company in a statement, Fabbri will oversee the development of AI infrastructure integrating first-party and third-party data for its platform developed with Postel and Microsoft for Italian SMEs, alongside Google DV360-integrated solutions for global media agencies.

Co-founder of digital consultancy Nohup in 2004, Fabbri has more than two decades of experience in software development and cloud architectures. He later led the company through its acquisition by Havas Group in 2021.

Under Fabbri’s leadership, Audiencerate plans to accelerate AI and machine learning capabilities for predictive modelling and automated budget and bid management.

The company said its agency-focused platform will also expand the use of advertisers’ first-party data combined with third-party signals to support privacy-compliant audience modelling.

-- BERNAMA

MARQUEE BRANDS TO ACQUIRE MAJORITY STAKE IN ROBERTO CAVALLI

 

Roberto Cavalli Spring/Summer 2026

KUALA LUMPUR, May 21 (Bernama) -- Marquee Brands, the premier global brand management company, has announced a definitive agreement to acquire a majority interest in Roberto Cavalli through a strategic partnership with Dubai-based DAMAC Group.

The transaction is expected to close in the second quarter of 2026, after which DAMAC Group will remain a significant shareholder, according to Marquee Brands in a statement.

The acquisition further strengthens Marquee Brands’ position in the luxury and lifestyle sectors, bringing total portfolio-wide retail sales to approximately US$5 billion. (US$1=RM3.96)

“Roberto Cavalli stands as one of luxury’s defining Italian houses, with a bold creative identity and enduring brand ethos. In partnership with DAMAC, a leader in luxury real estate, we will continue to elevate the Roberto Cavalli experience worldwide,” said Marquee Brands Chief Executive Officer, Heath Golden.

Owned by funds managed by global investment firm Neuberger, Marquee Brands continues to expand its platform through the acquisition of heritage brands, with Roberto Cavalli becoming the 22nd brand in its portfolio.

The partnership is expected to expand Roberto Cavalli’s global reach across Europe, the United Kingdom, the United States, the Middle East, Asia Pacific and Latin America through new categories, services and experiential offerings.

DAMAC will continue to expand Roberto Cavalli-branded residences and hospitality projects across key global markets, reinforcing the luxury brand’s international presence.

As part of the transaction, Marquee Brands appointed Milan-based The Level Group as its core operating partner to oversee the development, manufacturing and distribution of the label’s women’s and men’s collections, as well as retail, e-commerce and wholesale operations.

-- BERNAMA

AM BEST AFFIRMS TAIWAN’S UNION EXCELLENT CREDIT RATINGS

KUALA LUMPUR, May 21 (Bernama) -- Global credit rating agency, AM Best has affirmed the financial strength rating of A- (Excellent) and the long-term issuer credit rating of “a-” (Excellent) of Taiwan’s Union Insurance Company Limited (Union).

The outlook of these credit ratings (ratings) is stable, reflecting Union’s very strong balance sheet strength, adequate operating performance, neutral business profile and appropriate enterprise risk management.

AM Best said Union’s balance sheet strength assessment is underpinned by its risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio, which was at the strongest level at the end of 2025.

Union’s risk-adjusted capitalisation is expected to remain at the strongest level over the intermediate term, supported by partial retention of positive operating earnings, while its regulatory solvency capital to maintain a healthy capital buffer above minimum requirements.

Other supporting factors include a comprehensive reinsurance programme, favourable financial flexibility, and a consistent investment strategy, according to AM Best in a statement.

A medium-sized insurer in Taiwan’s non-life market, Union reported stable operating results in 2025, with a return on adjusted capital and surplus of 11.8 per cent, based on AM Best’s calculations.

The company’s top-line performance has remained stable, despite a slightly lower-than-average premium growth rate in its voluntary motor segment. Union has refined its underwriting strategy to improve profitability while expanding its accident and health, as well as commercial liability, businesses.

AM Best said underwriting profitability improved consistently, with a record low net combined ratio of 91.1 per cent in 2025, while net investment yield stood at 3.0 per cent, including capital gains and losses.

Union’s underwriting portfolio remains moderately diversified but slightly skewed toward motor insurance, with other key business lines including commercial fire, liability, and accident and health insurance.

-- BERNAMA