15/04/2026

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BIZ & FINANCE WEDNESDAY | APR 15, 2026

ZTE, CIMB ramp up Asean 5G push o Collaboration extends beyond Malaysia into Indonesia, Singapore, Thailand and Cambodia, with broader regional ambitions digital

Ryt Bank hits 1.2 million users in just over 7 months KUALA LUMPUR: Ryt Bank said it has surpassed 1.2 million users in just over seven months since its launch in August 2025, reflecting the trust Malaysians place in the platform and positioning it as one of the fastest growing digital banks in the country. The next-generation artificial intelligence (AI)-powered digital bank, backed by YTL Power International Bhd in partnership with Sea Ltd, said the milestone reflects strong customer trust and rapid adoption. “Ryt Bank has processed over 25 million transactions, with monthly volumes increasing more than 35 times since launch, reflecting strong momentum in usage. “Tens of thousands of users now transact daily across payments, transfers, and everyday spending, while bill payments have increased more than tenfold in recent months, and card usage continues to scale, with more users relying on their Ryt Card for shopping, dining, and groceries,” it added. The digital bank said Ryt AI is central to this shift, enabling customers to complete tasks such as transfers and bill payments through simple, intuitive interactions. It is developed in partnership with YTL AI Labs and built on Ilmu, Malaysia’s sovereign AI model. “Today, nearly half of all Ryt Bank users have engaged with Ryt AI. Adoption spans all age groups, including users aged 50 and above, demonstrating how Ryt AI is making everyday banking simpler and more intuitive for everyone. “Notably, users who engage with Ryt AI return to the app at nearly twice the rate of those who do not, reflecting stronger ongoing engagement,” the bank said. Its interim CEO Wilson Soon said Ryt Bank remains focused on supporting broader national priorities around financial inclusion by making everyday banking tools more accessible, intuitive, and useful for all Malaysians, particularly those underserved by traditional banking. – Bernama

KUALA LUMPUR: ZTE Corporation, a provider of integrated information and communication technology solutions, has entered into a MoU with CIMB Bank Bhd to establish a strategic cooperation framework aimed at supporting digital infrastructure development across Asean. The partnership leverages ZTE’s telecommunications capabilities and CIMB’s leadership in financing and banking solutions to explore opportunities that support the efficient deployment of ZTE’s next generation digital infrastructure projects, particularly 5G networks. Under the MoU, both parties will also explore collaborations across infrastructure financing, regional network expansion and cross border liquidity management. By integrating technical capability with strategic banking solutions, the partnership aims to build a holistic ecosystem across Asean, bringing together operators, government agencies, regulators and investors to drive the region’s broader digital transformation. The MoU formalised in Kuala Lumpur was signed by ZTE treasury and financing centre general manager Kevin Xiao and CIMB regional head, corporate & investment banking coverage

However, he noted that subsidy costs have risen significantly. “Fuel subsidies for RON95 have increased from about RM700 million a month previously to RM4 billion, and more recently to as much as RM7 billion, based on current oil prices,” he said. Despite this, he said Malaysia still has some fiscal space, with the fiscal deficit reduced to around 3.7%, close to pre-pandemic levels. “The key question is how long this crisis will last and when the trigger points for intervention will be reached. The longer it continues, the greater the strain on our fiscal position,” he added. – Bernama infrastructure and accelerating the deployment of 5G networks. By combining ZTE’s technology leadership with CIMB’s strong regional financial platform, we are well-positioned to support the region’s digital transformation journey.” Xiao said: “Integrated financial and treasury solutions are increasingly critical in enabling large scale telecommunications projects. This collaboration enhances our ability to support customers and partners with more efficient and scalable financing structures.” Meanwhile, CIMB Group wholesale banking CEO Chu Kok Wei said: “As demand for next generation connectivity and digital infrastructure accelerates across Asean, this collaboration positions CIMB to support ZTE’s regional expansion through integrated financing and banking solutions. Leveraging on CIMB’s Asean presence, we aim to enable efficient execution while strengthening client relationships through a broader suite of capabilities.”

At the same time, he stressed that energy must strike a balance between sustainability and affordability. “We need to ensure that energy is not just sustainable but also affordable. This is the challenge that most companies are facing, and governments are working to put in place the right incentives and policies to encourage greater adoption of renewable energy,” he added. On fuel subsidies, Tengku Zafrul said Malaysia entered the current situation with relatively strong economic fundamentals, including 5.2% GDP growth last year, low inflation, and stable employment. Asean, particularly in underserved and rural areas, contributing to efforts to bridge the urban-rural digital divide. In addition to supporting 5G network development, the collaboration will facilitate broader digital infrastructure initiatives aligned with regional frameworks such as the Asean Digital Economy Framework Agreement. By integrating telecommunications technology with structured financial solutions, the partnership aims to enhance execution efficiency and scalability for infrastructure projects across multiple markets.

consideration investors, particularly in light of ongoing geopolitical tensions. “When we engage investors, we emphasise how important energy security is going to be. Malaysia is fortunate to have reliable power, and developments such as the Asean power grid are positive steps in strengthening this,” he said. Tengku Zafrul said the crisis has also reinforced the need to diversify energy sources, as companies seek to reduce reliance on a single supply. “It has taught many companies the importance of diversification – of not relying too much on just one source of energy,” he said. for relationship in Malaysia, including collaboration in the country’s 5G rollout in line with national digital initiatives. The partnership has also extended across foreign exchange services, transaction banking and cash management solutions. Building on this foundation, the MoU formalises a broader Asean focused collaboration framework, positioning both parties to support not only Malaysia’s ongoing 5G network deployment but also a wider range of digital infrastructure projects across Asean including Indonesia, Singapore, Thailand and Cambodia, with broader regional expansion over time.

Freddy Ong; and witnessed by ZTE Corporation vice-president Steven Ge and CIMB corporate & public sector coverage head Denise Wong. ZTE and CIMB have previously developed a strong working Tengku Zafrul: Malaysia must step up energy security In a statement yesterday, ZTE said the expanded partnership is expected to accelerate the rollout of high-speed connectivity across Ge who is also ZTE Malaysia managing director said: “This partnership reflects a shared commitment to advancing Asean’s

KUALA LUMPUR: Malaysia needs to double down on energy security as global uncertainties intensify, with the government actively engaging investors on the importance of ensuring a stable and reliable energy supply, said Tengku Datuk Seri Zafrul Abdul Aziz. He said this in an interview with Bloomberg’s “Insight with Haslinda Amin” programme yesterday, where he discussed developments in West Asia, their impact on Malaysia, and measures to address rising fuel costs. Tengku Zafrul, who is the Malaysian Investment Development Authority (Mida) chairman, said energy security has become a key

Education retains its importance in the Malaysian landscape for parents, students and stakeholders. The changes are fast paced with new developments in new fields of study such as cybersecurity, data protection, augmented and virtual reality, machine learning in education, digital education and artificial Intelligence. Leading the way are universities, who are invited to showcase their latest programmes, curriculum and content in our Education Focus for 2026.

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