06/09/2025

BIZ & FINANCE SATURDAY | SEPT 6, 2025

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Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

Malaysia Airlines, Firefly widen reach across Asia and beyond o Flights to Chengdu to resume in January, new destinations include Krabi, Siem Reap and Cebu

KUALA LUMPUR: Malaysia Airlines, the national carrier under Malaysia Aviation Group (MAG), will resume flights to Chengdu in January 2026, its seventh destination in China, after a nine-year break. MAG managing director Datuk Captain Izham Ismail said the move is part of the group’s strategy to streamline operations and expand its network in line with rising regional demand. “Malaysia Airlines and Firefly will strengthen their presence across key markets in the months ahead,” he said in a press conference at Matta Fair 2025 yesterday. For Malaysia Airlines, this includes the addition of Chengdu, he said, stating that average load factors for its China routes reached 81% in the first half of 2025. “With the support of the mutual visa-free arrangement between Malaysia and China, this expansion positions us to capture growing demand in one of the world’s most dynamic travel markets.” Meanwhile, MAG’s low-cost subsidiary FlyFirefly Sdn Bhd will expand its network with the launch of new jet services from Kuala Lumpur International Airport (KLIA) to Krabi (Thailand), Siem Reap (Cambodia) and Cebu (the Philippines) starting in November. Furthermore, Izham said that beginning in October, Malaysia Airlines will add services to Australia, New Zealand, China, India, the Maldives and Bangladesh, while Firefly will enhance regional and domestic connectivity, including to Singapore, Kota Kinabalu, Kuching, Penang and Johor Bahru. To support this growth, he said, MAG’s fleet strategy is advancing in tandem. “We have already taken delivery of six A330neos and 14 Boeing 737-8s, part of our fleet modernisation programme. These aircraft not only strengthen our competitiveness but also deliver a more consistent and comfortable experience for our customers.” Izham said Malaysia Airlines’ ambition is to operate a modern mainline fleet of 116 aircraft with an average age of just seven years (down from 10 years today) by 2035. “This renewed fleet, alongside Firefly’s expanding services, will support a group network spanning 106 destinations across Asia, the Middle East, Europe, and beyond.” He said this scale will establish Malaysia Airlines as one of the leading premium carriers in the region, with the capability to serve both high-demand regional routes and key global corridors. “With a balanced mix of narrowbody and widebody aircraft, Malaysia Airlines will have

Izham speaking during a press conference at Matta Fair 2025 yesterday.

partner and premier sponsor of the three-day Matta Fair 2025, which opened yesterday, expanding its presence through a dedicated MAG Arena pavilion. The arena, featuring more than 70 booths, will showcase the networks and cabin products of Malaysia Airlines and Firefly, alongside the group’s latest digital innovations, including artificial intelligence-powered hospitality tools. It also includes meet-and-greet sessions with sports personalities and special promotions for visitors to the fair.

nectivity, support tourism and trade, and carry our nation’s presence proudly onto the global stage,” Izham said. Looking ahead, he acknowledged that the aviation industry will continue to face pressures and uncertainties. However, he said the group’s strengthened foundations, expanding networks, and en hanced products ensure MAG remains resi lient, relevant, and ready to deliver consistent value to its customers, people and the nation. MAG is returning as the official airline

the flexibility to capture growth in both regional and long-haul markets, ensuring we remain resilient in shifting market conditions.” Together, he said, these investments are a cornerstone of its ambition to position Malaysia Airlines among the world’s top 10 global carriers by 2030. At the same time, MAG’s role is to ensure this growth is both commercially sustainable and aligned with national development. “Every step forward must strengthen our financial resilience, expand Malaysia’s con

DXN to acquire apartment at Burj Khalifa in Dubai for RM7.4m

reNIKOLA to develop two large-scale solar projects in Terengganu under LSS5+

PETALING JAYA: reNIKOLA Holdings Sdn Bhd has been shortlisted for 400 MWac/618 MWp of solar capacity under Malaysia’s Large Scale Solar 5+ (LSS 5+) programme, a flagship initiative of the National Energy Transition Roadmap. The award comprises two projects in Kemaman, Terengganu, namely a 250 MWac/386 MWp project by the consortium of reNIKOLA, RE Chenderong Sdn Bhd and the Anglo-Eastern Plantations Plc group (AEP). Secondly, a 150 MWac/232 MWp project by the consortium of Antara Hijauan Sdn Bhd, a wholly owned subsidiary of reNIKOLA and AEP. Once commissioned by the end of 2027, the projects will supply clean energy to the grid for 21 years, delivering an estimated RM1.2 billion in direct investment, creating hundreds of new jobs, and cementing Terengganu’s position as an emerging hub of Malaysia’s green economy. Beyond power generation, reNIKOLA is charting a new path where renewable energy and biodiversity coexist in harmony. As part of the 618 MWp development, the group will establish an Elephant Sanctuary Foundation to protect endangered wildlife and promote ecological harmony. The initiative will include an Elephant Food Corridor, planted with

napier grass, bamboo, and bananas, to provide sustainable food sources and guide wild elephant movements safely. ReNIKOLA managing director Boumhidi Adel said securing 618 MWp under LSS 5+ marks a significant milestone for reNIKOLA and a strong step forward for Terengganu’s green economy. “These projects demonstrate that clean energy, economic growth, and environmental stewardship are not competing goals, but powerful partners in building a truly sustainable future,“ he said. B.Grimm Power Public Co Ltd president Datuk Seri Dr Harald Link, a strategic 45% shareholder of reNIKOLA, said this achievement strengthens the company’s commitment to power the world compassionately. “By combining large-scale renewable energy with biodiversity protection, we are shaping a future where energy transition and sustainability advance hand in hand. We are grateful and committed to support Malaysia in its journey toward a low-carbon economy.” The projects are being developed in collaboration with AEP, which is listed on the London Stock Exchange.

PETALING JAYA: DXN Holdings Bhd, a leading global manu facturer of nutraceutical pro ducts, announced that its wholly owned subsidiary, Daxen Middle East Food Manufacturing LLC, has signed a sale and purchase agreement to acquire a resi dential apartment unit at Burj Khalifa, Dubai, United Arab Emirates, for AED6.4 million (about RM7.4 million).

DXN’s existing facilities in Penang and Cyberjaya. It will be used for leadership develop ment, incentive programmes, and VIP events. It also offers potential rental income and capital appreciation. Since the transaction in volved related parties, not all interested directors partici pated in the discussions or voting.

The audit committee reviewed the terms independently and found them fair and reasonable. The approval was given only by the non interested directors, in accordance with Bursa Malaysia’s rules. Dubai is an increasingly important hub for DXN, with its manufacturing plant established in 2023 and the Middle East contributing over 10.0% of the group’s revenue in FY25. The acquisition strengthens DXN’s long term commitment to member engagement and growth in the region.

The acquisition, financed entirely through internally generated funds, represents less than 0.6% of DXN’s total net assets of RM1.3 billion, as of Feb 28, 2025 (FY25), with no material impact on the balance sheet, and will not affect dividends, ongoing investments in research and development (R&D), or expansion plans. The acquisition is complementary to, and does not divert resources from, DXN’s core priorities in R&D, manufacturing, and market expansion. The property will serve as a member reward and training hub, complementing