02/04/2026

BIZ & FINANCE THURSDAY | APR 2, 2026

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Tencent’s WeChat granted Malaysia Digital status

Bursa, FTSE Russell seek feedback on FBM KLCI, FBM70 enhancements KUALA LUMPUR: Bursa Malaysia Bhd, together with FTSE Russell, has issued a consultation paper seeking market feedback on proposed enhancements to the methodologies of the FTSE Bursa Malaysia KLCI (FBM KLCI) and the FTSE Bursa Malaysia Mid 70 Index (FBM70). As Malaysia’s economic land scape evolves, the FBM KLCI and FBM70 play an important role in shaping how domestic and international investors access the Malaysian equity market. The consultation forms part of ongoing efforts to ensure that Malaysia’s key equity benchmarks remain relevant as the Malaysian equity market grows in size, breadth and liquidity. The consultation paper sets out options for both benchmarks, namely, expanding the FBM KLCI from 30 to 50 constituents, with an optional 10% company level capping mechanism to support broader sector representation, or retaining the current FBM KLCI structure and revising the FBM70 from 70 to 50 constituents, consequential to the potential expansion of the FBM KLCI, with no changes to the FTSE Bursa Malaysia Top 100 Index (FBM100); or retaining the current struc tures of the FBM KLCI and FBM70, applying the same guiding principle of market monitoring and flexibility to adapt to future conditions as necessary. Bursa Malaysia and FTSE Russell invite interested parties from the public and investment community, including asset owners, asset managers, brokers, fund managers, proprietary trading firms, public listed com panies to submit their feedback on the proposed enhancements via https://www.lseg.com/en/ftse russell/governance/market consultations by April 24. The exchange said all feedback received will be reviewed in accordance with the FTSE Russell Policy for Benchmark Methodology Changes before a final determination is made on whether to proceed with the proposed enhancements or to maintain the current index methodologies. It also said subject to the outcome of the consultation, any approved changes to the FBM KLCI and FBM70 are intended to be implemented either in December 2026 or in June next year. Further details, including the final decision and the imple mentation timeline, will be an nounced following the con clusion of the consultation process. Bursa Malaysia said this consultation reflects the joint commitment of Bursa Malaysia and FTSE Russell to maintaining credible, transparent and forward looking market benchmarks that support investment decision making, capital formation and the long term development of Malaysia’s capital market.

KUALA Tencent’s subsidiary WeChat Malaysia Sdn Bhd has been awarded “Malaysia Digital” (MD) status by the Malaysia Digital Economy Corporation (MDEC), reflecting Tencent’s long-term commitment to supporting Malaysia’s digital transformation. In a statement yesterday, Tencent said that the recognition underscores the establishment of its technological and business operations hub in Malaysia, aimed at powering global technology innovation and delivering excellence in customer experience. The hub will provide high-value technical support and optimisation across Tencent’s business groups, driving innovation and value creation in games & entertainment, payments, artificial intelligence (AI), and cloud technologies. It will also leverage Tencent’s operational expertise to enhance digital systems for local businesses. As an example, Malaysia’s first AI powered digital bank Ryt Bank has adopted Tencent’s messaging and Real-Time Communication (RTC) capabilities within its digital application to power intelligent chatbots and enhance the security of financial transactions. o New operations hub to support global tech innovation while strengthening nation’s tech ecosystem LUMPUR: KUALA LUMPUR: Elsa Bhd, an integrated oil and gas services and equipment (OGSE) solutions provider, signed an underwriting agreement with Malacca Securities Sdn Bhd in conjunction with its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. Malacca Securities is acting as the principal adviser, sponsor, underwriter, and placement agent for the listing exercise. Based on the proposed structure, Elsa’s IPO involves a public issue of 118,400,000 new ordinary shares, representing approximately 21.99% of its enlarged issued share capital, as well as an offer for sale of 36,400,000 existing shares, representing approximately 6.76% of the enlarged share capital. Upon completion of the IPO, Elsa will boast an enlarged issued share capital of 538.4 million shares. The 118,400,000 new shares will be allocated as 26,920,000 new shares for application by the Malaysian public – 10,768,000 new shares for eligible persons and 80,712,000 new shares will be offered via private placement to

Anuar Fariz (left) presents the Malaysia Digital status commemorative plaque to Wong, with Digital Minister Gobind Singh Deo (behind left) in attendance.

while delivering innovation that serves millions of users worldwide,” said Tencent Malaysia country manager Judy Wong. The press statement said the expansion of Tencent’s Global Technology, Digital Innovation and Customer Experience capacities builds on its continued growth in Malaysia. Following its office expansion in December 2025, Tencent has doubled its workforce in Malaysia, with over 90% of its workforce comprising local professionals supporting both domestic and international operations. Since entering the Malaysian market in 2013, Tencent has contributed significantly to the country’s digital economy across games & entertainment, payments, AI, and cloud. Malaysia’s strong digital ecosystem continues to position the nation as a key hub for innovation and digital services globally.

championing Malaysia’s digital economy.” Tencent said it will continue to explore strategic partnerships that connect local businesses to global audiences in Malaysia. This is exemplified by the recent memorandum of collaboration between Tourism Malaysia and Weixin Pay, which aims to enhance the travel experiences for visitors to Malaysia. Local merchants in Malaysia have also benefitted from Weixin Pay’s seamless mobile payment solutions, which recorded a 131% year-on-year increase in tourist spending during the Lunar New Year period.

selected investors. Pursuant to the underwriting agreement, Malacca Securities will underwrite the 37,688,000 new shares made available to the Malaysian public and eligible persons. Elsa executive chairman Amiruddin Mohd Zain said: “The signing of the underwriting agreement marks an important step forward in our corporate journey, officially moving us into the execution phase of our proposed listing on the ACE Market. With this milestone secured alongside Malacca Securities, we will continue to focus on executing our growth plans in a disciplined manner as we prepare for the upcoming prospectus launch and subsequent stages of the listing process.” Elsa is principally involved in the provision of integrated solutions across four core business segments: oilfield service solutions, digital solutions, robotics and engineering solutions, and talent solutions. Operating on a highly scalable, asset-light model, the group integrates advanced technologies and capabilities from its network of partners to deliver international users. It added that these will enhance customer interactions, streamline service operations, and enable real-time user insights across platforms. The hub will also support applications such as travel and cross-border payments, in line with growing digital adoption among businesses and consumers. MDEC CEO Anuar Fariz Fadzil said: “WeChat Malaysia’s achievement of Malaysia Digital status reinforces Malaysia’s position and readiness as a strategic gateway for global technology companies to scale innovation and regional operations. MDEC remains committed to enabling a conducive and future-ready ecosystem that empowers companies like Tencent to thrive, while catalysing knowledge transfer, high-value job creation, and the advancement of local digital capabilities. This collaboration clearly reflects our continued goal of

Tencent said it continues to drive digital-first engagement models across its platforms in Malaysia, including AI and omnichannel experiences for both domestic and Malacca Securities is underwriter for Elsa’s IPO “As Tencent accelerates its growth in Malaysia, securing the MD status reflects our strategic alignment with the country’s digital transformation goals. By anchoring our technological and business operations in Malaysia, we are strengthening local capabilities

From left: Amiruddin, Elsa managing director Daniel Ilham Khong, Malacca Securities chief business strategy officer Chuck Lim, and co-head corporate finance Law Kim Fatt posing after the signing ceremony.

specialised, high-value solutions to oil and gas operators. The group currently serves a robust portfolio of clients within the Petronas ecosystem, alongside international and independent oil and gas operators operating in Malaysia. The proposed listing is expected to

unlock the strategic capital required to support Elsa’s continued growth trajectory, specifically strengthening its technical workforce, expanding its robotics and asset inspection capabilities, and providing the working capital headroom necessary to execute its expanding pipeline of projects.