12/03/2026

BIZ & FINANCE THURSDAY | MAR 12, 2026

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decommissioning Malaysian waters. This award reinforces the group’s established track record and technical expertise in executing complex well service campaigns in Malaysian waters, while enabling the group to actively contribute to Malaysia’s long term decommissioning agenda. “Looking ahead, we see a robust pipeline of potential P&A wells and remain committed to delivering safe, efficient and cost-effective solutions while creating sustainable value for our stakeholders,“ he said. HLB Islamic CEO Dafinah Ahmed Hilmi said the bank aims to bridge the gap between theory and practice in Islamic finance while empowering customers to approach financial management through the lens of wealth stewardship. “There is an inherent beauty in Islamic banking. Its principles offer a holistic and dignified view of wealth, connecting every financial decision with a balanced responsibility towards society,” she added. Hong Leong Islamic is now HLB Islamic following brand refresh KUALA LUMPUR: Hong Leong Islamic Bank Bhd is now known as HLB Islamic following a brand refresh, with the bank aiming to maintain financing growth above the industry average over the next three to five years. HLB Islamic said its financing portfolio increased 8.7% year-on-year to RM50.8 billion as of Dec 31, 2025. “It remains a crucial contributor to the group, accounting for 23.7% of total loans and financing,” it told Bernama. Meanwhile, the bank said in a statement that the move to rebrand as HLB Islamic forms part of efforts to refresh and strengthen its core vision and consumer proposition. The bank said the refreshed positioning approaches financial services not as isolated products and transactions, but as a holistic wealth stewardship journey guided by syariah principles across the financial lifecycle. Hong Leong Bank Bhd group managing director and CEO Kevin Lam said the transition to HLB Islamic was a deliberate step to scale the Shariah-compliant franchise into a primary growth engine for the banking group. It will also serve as a unified gateway for financial needs within the broader Hong Leong Financial Group ecosystem. “By aligning our Islamic banking identity more closely with the core HLB brand, we are making our Shariah-compliant solutions more intuitive, accessible, and digitally integrated. “Looking ahead, our goal is for HLB Islamic to be the preferred gateway for wealth stewardship in Malaysia, demonstrating that value based solutions that are truly customer-centric can lead the market in both innovation and resonance,”he added. services in

Invest Selangor expands this year’s edition of SIBS From left: Invest Selangor Bhd senior director, strategic planning & communication division Ahmad Khairo Othman, Sidec Sdn Bhd chief operating officer Loo Chuan Boon, Hasan Azhari, Ng, Menteri Besar Selangor (Incorporation) head of group strategy division cum head of corporate services Muhammad Hudhaifa Ahmad, Wanita Berdaya Selangor Sdn Bhd CEO Siti Faridah Abdul Samad, and Selangor Technical Skills Development Centre CEO Dr Harizal Hamid.

assets, we are well-positioned to support offshore operators with integrated and efficient well services solutions. “In 2025, the group successfully executed 3 workover wells and 32 P&A wells, and we remain optimistic of achieving stronger results in 2026 and the years ahead as industry activity continues to grow,“ he said. Tan said this award comes at a time when the Petronas Activity Outlook 2026–2028 indicates an increase in P&A activities to approximately 70 wells in 2026, reflecting sustained demand for well intervention and Perkeso to bridge the talent gap for approved investments in Selangor. To commemorate this 10th anniversary, Invest Selangor is launching SIBS@Asean, a regional activation strategy designed to elevate the summit into a cross border business movement. The inaugural international activation, SIBS@Asean Bandung Edition, will take place from July 9 to 10. Bandung was strategically selected as the debut destination due to its striking economic similarities to Selangor; both regions serve as primary industrial hearts and innovation hubs for their respective nations, sharing a focus on manufacturing, technology, and a vibrant SME ecosystem. Invest Selangor CEO Datuk Hasan Azhari said SIBS@Asean marks the agency’s next chapter. “As regional supply chains realign, Selangor is positioning itself as a regional connector. “We anticipate bringing approximately 50 Selangor-based companies to the Bandung edition in July 2026. “Given the shared economic characteristics of Selangor and Jawa Barat, this initiative ensures our local businesses remain globally competitive and relevant,” he said.

jack-up rig TSEVEN ENYA under the group’s wells and decommissioning division, we are able to execute a wide range of offshore well services, including well workovers, well interventions and plug-and abandonment (P&A) activities,“ he said. Tan said this significant milestone follows the recent naming ceremony of the group’s latest HWU, TSEVEN RYAN 460K, and demonstrates the market’s confidence in the company’s high-quality assets and operational expertise. “By leveraging these complementary he said. Entering its second decade, SIBS 2026 will officially incorporate three new specialised pillars designed to strengthen the state’s multi-sectoral investment ecosystem. These include the Selangor Techsphere Summit, which will be organised by the Selangor Technical Skills Development Centre (STDC) in partnership with Hannover Fairs Asia Pacific (a subsidiary of the world-renowned Deutsche Messe AG), and will focus on technical talent and industrial innovation. Selangor AI & Semiconductor Summit 2026, organised by the Selangor Information Technology and Digital Economy Corporation (Sidec), will spotlight leadership in high-value digital industries. Selangor International Care Expo, organised by Wanita Berdaya Selangor, addresses the expanding care economy and inclusive growth. These pillars join the established Selangor Asean Business Conference and the Selangor Investment and Industrial Park Expo. The 10th edition also introduces the Selangor Investment Forum, a high-level seminar focusing on key industries, and the Selangor Career Outreach Talent Expo, a dedicated career fair in partnership with

o Summit to introduce SIBS@Asean, three new pillars as it marks a decade of leadership and impact on state’s investment landscape

KUALA LUMPUR: Energy solutions provider T7 Global Bhd’s subsidiary Tanjung Offshore Services Sdn Bhd has received a letter of award from EnQuest Petroleum Production Malaysia Ltd for the provision of an integrated hydraulic workover unit (HWU) for the 2026 and 2027 EnQuest Well Campaign (Package B3). The award is for the provision of HWU services and the project management team (PMT), offshore supply vessels, pumping services, and fishing and wellbore cleanup equipment and services for the 2026 SHAH ALAM: Invest Selangor Bhd unveiled an ambitious expansion roadmap for the 10th edition of the Selangor International Business Summit (SIBS) this year. Scheduled for Oct 14 to 17 at the Kuala Lumpur Convention Centre, this milestone event celebrates a decade of investment leadership and charts a new regional trajectory with the introduction of SIBS@Asean. Since its inception in 2015, SIBS formerly known as Selangor International Expo (SIE) has evolved from a boutique trade event into a powerhouse of regional commerce. Over the past decade, data indicate a trajectory of rapid expansion for the Selangor International Business Summit (SIBS). Visitor numbers rose sharply from 4,316 in 2015 to a peak of 57,249 in 2023, representing an increase of more than 1,200% over eight years. Beyond its role as a trade platform, SIBS has also evolved into a recognised centre for intellectual and

and 2027 EnQuest Well Campaign (Package B3). The contract is effective from Feb 19, 2026 for a duration of two years. The campaign involves workover and plug-and-abandonment operations across multiple wells at various offshore platforms. T7 Global executive director Tan Kay Zhuin said that securing the award from EnQuest underscores the group’s technical capability to deliver integrated well services. “With the combined operating capabilities of our HWU and drilling policy discourse, having hosted more than 1,081 speakers and attracted over 23,000 conference participants to date to discuss Asean’s shifting economic landscape. At the same time, the value of potential transactions generated through the summit has grown significantly, rising from about RM200 million in its early years to a record RM13.85 billion in 2024. Overall, SIBS has facilitated a cumulative RM30.56 billion in potential transaction value so far, further reinforcing Selangor’s position as Malaysia’s leading economic engine. Selangor state executive councillor for Investment, Trade, and Mobility Ng Sze Han said SIBS 2026 represents 10 years of building investor confidence. “By integrating high-tech manufacturing, digital innovation and the social economy into a single platform, we reflect the full spectrum of Selangor’s economic strengths,”

T7 Global bags EnQuest contract for hydraulic workover services