24/03/2025

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MONDAY | MAR 24, 2025

Sunway Malls projects 5% growth in 2025

Gold futures may experience

near-term correction

PETALING JAYA: CxSYS, a clinic management system, is setting its sights on regional and international expansion as demand for digital healthcare solutions grows. With a strong foothold in Malaysia, CxSYS founder Dr Pasupathi Nadarajan ( pic) said the company is actively seeking strategic partners to bring its platform to new markets, particularly in Asean and the Middle East. “CxSYS sees significant opportunities in Asean countries like Indonesia, Thailand, Vietnam and the Philippines, where private healthcare is expanding rapidly. “Many clinics in these regions still struggle with administrative inefficiencies, regulatory complexities and outdated paper-based systems,”he told SunBiz . He added that, with increasing regulatory requirements and rising healthcare costs, clinics are looking for cost-efficient and compliance-focused solutions. KUALA LUMPUR: The gold futures market on Bursa Malaysia Derivatives may experience a near-term correction this week as traders are tempted to lock in profits amid record-high prices. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the gold prices have remained above US$3,000 per ounce since March 17 as global economic uncertainties continue to rise. “At the same time, the United States Federal Reserve has indicated that two interest rate cuts could happen this year based on the latest projection during the latest Federal Open Market Committee meeting on March 19,” he told Bernama. On a Friday-to-Friday basis, the spot-month March 2025 contract rose to US$3,034.20 per troy ounce from US$2,999.60 per troy ounce previously, while April 2025 increased to US$3,044.10 per troy ounce from US$3,009.90 per troy ounce. Meanwhile, the May 2025, June 2025 and August 2025 contracts surged to US$3,054.10 per troy ounce from US$3,019.90 per troy ounce previous week. However, volume dropped to 123 lots last week from 419 lots previous week, while open interest declined to 87 contracts from 454 contracts previously. According to the London Bullion Market Association’s afternoon fix on March 20, physical gold was priced at US$3,038.15 per troy ounce. – Bernama Ű BY AIMIE SHAZRIE sunbiz@thesundaily.com

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

malls just to buy things – they come to enjoy the experience.” “That’s why the F&B sector now accounts for over 30% of our offerings. “When combined with leisure, entertainment, and other lifestyle elements, it makes up almost 50%. That is what differentiates us from the rest.” Additionally, Chan said most of Sunway Malls are part of integrated developments. “We are not just a shopping mall operator, we are an integrated developer, with malls, offices, residences, theme parks, educational institutions, and even hospitals,” Chan said. “For instance, Sunway Velocity integrates multiple businesses. There are already about 5,000 residences around the mall, contributing significantly to foot traffic. “When all of Sunway’s core businesses come together, we are stronger. “That is what makes our business model unique.” Chan is the adviser of the Malaysia Shopping Malls Association, after serving two terms as president, advocating for industry interests at both national and international levels. He is also the adviser to the Council of Asian Shopping Centres and sits on the Industry Advisory Board of Sunway University Business School.

o Tourism increasingly important in driving Malaysian economy, says CEO

PETALING JAYA: Sunway Malls has projected 5% growth in 2025 driven by Malaysia’s growing tourism sector and in line with GDP growth projection. CEO HC Chan ( pic ) noted that Sunway Malls recorded a 5% increase in 2024 and remains optimistic about maintaining this trajectory despite global economic and geopolitical challenges. “2024 has also been a good year. As far as Sunway Malls is concerned, we experienced a 5% growth compared with the previous year. As we move into 2025, although the global economic and geopolitical situation remains challenging, we are still confident that achieving 5% growth is both doable and achievable,” he told Sunbiz . Chan highlighted that, according to Tourism Malaysia, the country aims to attract 31.3 million international tourists in 2025, generating RM125.5 billion in tourism receipts. “For Visit Malaysia Year 2026, the targets are set even higher, with expectations of 35.6 million international visitors and RM147.1 billion in tourism receipts.” Chan acknowledged the competitive landscape in the industry, stating: “There are over 700 malls in Malaysia, making the industry highly competitive. But we

are glad to note that tourist numbers are steadily increasing at a good rate. We look forward to Visit Malaysia Year 2026, which will further boost the sector.” He said when tourism thrives, all related industries including shopping malls, hotels, theme parks, and restaurants will benefit. “Tourism is

The upcoming mall locations are Sunway Square, Sunway City Kuala Lumpur, Bandar Sunway; Sunway Pier, Port Klang, Selangor; and Sunway Ipoh Mall, Sunway City Ipoh. “So in the next couple of years, we’re going to have 12 shopping malls in Malaysia.

becoming increasingly important in driving Malaysia’s economy. “We are optimistic about the post-pandemic recovery and the continued growth of the tourism sector,” he added. Furthermore, Chan hopes Malaysia’s GDP growth remains at 5%, as the retail and mall industry is closely linked to economic performance. “With higher GDP growth, we perform better. That is what we hope to see,” he said. Chan also shared that Sunway Malls is expanding its footprint with three new malls over the next two years to bring its total to 12 shopping malls in Malaysia.

“And we’ll be one of the largest mall owners and operators of shopping malls in the country,” he said. The total established malls and pipeline projects currently stand at 7.7 million square feet of net lettable area, with locations in key urban markets to serve the surrounding communities. “I think we are confident that we’ll continue to maintain market leadership in the shopping mall industry,” he said. He noted that Sunway Malls have evolved beyond traditional retail, focusing on experiential shopping rather than just functional purchases. “Consumers no longer visit

CxSYS eyes healthcare markets in Asean and Middle East

“CxSYS is designed to optimise operations, improve financial sustainability, and help healthcare providers transition to digital workflows,” he noted. Beyond Asean, Pasupathi remarked that CxSYS is also eyeing the Middle East, where the growth of private healthcare and medical tourism is driving demand for scalable, integrated clinic management solutions. Despite the opportunities, he acknowledged the complexities of expanding into new markets and is proactively addressing key challenges. “Localisation goes beyond language translation, requiring adaptations in medical terminology, user experience, and patient communication tools to align with local preferences. “Additionally, diverse regulatory frameworks across countries mean that compliance is not a one-size-fits all approach. “To maintain its reputation as a comprehensive and secure solution, CxSYS is tailoring its platform to meet local healthcare regulations, insurance policies, and data protection laws

while adhering to global standards like the Health Insurance Portability and Accountability Act and General Data Protection Regulation,” he said. He said another major consideration is infrastructure and connectivity limitations, particularly in emerging markets where inconsistent internet access could hinder cloud based solutions. “CxSYS has developed offline capabilities and optimised data synchronisation to ensure clinics remain fully functional even in low connectivity environments. “Beyond technology, cultural and operational differences also play a role in adoption. “Healthcare practices, billing models, and patient expectations vary across regions, making local partnerships essential. “CxSYS is actively working with healthcare providers and regulators to ensure seamless market integration, reinforcing its commitment to delivering reliable, adaptable, and compliant clinic management solutions worldwide.”

As CxSYS expands into new markets, Pasupathi said the company is also doubling down on artificial intelligence powered innovations to enhance clinical workflows and decision-making for healthcare providers. “By leveraging AI, CxSYS aims to reduce administrative burdens and provide doctors with real-time insights, ultimately improving patient care.

enables doctors to quickly extract key information from a patient’s medical history, eliminating the need to manually sift through extensive records and improving the efficiency of consultations. “ B e y o n d documentation, CxSYS is exploring AI-driven predictive analytics and clinical decision support, where AI analyses trends in

patient data to provide early warnings on potential health risks. “This could revolutionise preventive care by enabling earlier interventions and better patient outcomes. “The company is also strengthening its lab and diagnostic integrations, using AI to analyse lab results and identify trends or abnormalities when combined with clinical data,” he said.

“One key AI-driven feature is Natural Clinical Documentation, which allows doctors to document patient visits in a way that feels natural while AI structures and codifies the data in the background. “This approach ensures that physicians can focus on patients rather than paperwork,” he said. Pasupathi added that Smart Summarisation of Patient Records