23/04/2026

BIZ & FINANCE THURSDAY | APR 23, 2026

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Kenanga Investors expands offerings with US Titans Fund

AmBank provides

RM102.4m financing to Gajahsuria Power

o Latest product tracks 50 of the largest syariah-compliant American companies

KUALA LUMPUR: AmBank Group has extended RM102.4 million in financing facilities to Gajahsuria Power Sdn Bhd (GSP) to support the development of a 29.99 MWac Large Scale Solar 5 (LSS5) project located in Kampung Gajah, Perak. The financing will primarily fund the working capital and project costs associated with the development and operation of the solar photovoltaic plant, which was awarded under the LSS5 programme by Suruhanjaya Tenaga (ST). Incorporated on Jan 15, 2025, GSP is a special purpose vehicle established to deliver the full scope of the project, encompassing development, financing, design, engineering, procurement, construction, installation, testing, commissioning, as well as the ownership, operation, and maintenance of the solar plant. The project was awarded in December 2024 to GSP, which is jointly owned by Sun Energy Ventures Sdn Bhd, Constant Energy Malaysia Holding Sdn Bhd (CEMH), and BayWa r.e. Energy Solutions Sdn Bhd. The local partner, CEMH – part of Constant Energy – is the lead developer responsible for overall project development, as well as its operations and maintenance. Headquartered in Bangkok, Thailand, Constant Energy is an established renewable energy project developer and Independent Power Producer (IPP) with a growing footprint across Southeast Asia. The company has over 260 MW in contracted capacity and over 120 MWp of solar plants operating across Malaysia, Thailand and Vietnam. Its entry into the Malaysian market began in 2017, when it co-developed a 5 MWac solar plant in Tawau, Sabah under the LSS2 programme, establishing the groundwork for its future growth in the country. The Tawau solar plant is now operating smoothly as one of the most advanced large scale solar plants in Sabah with state-of-the-art sun trackers. This GSP project marks a further expansion of its large-scale solar plants fleet in Malaysia. With an estimated project value of RM128.0 million, the Kampung Gajah solar plant is expected to be operational within July 2027. The facility will contribute to reduce Peninsular Malaysia dependence of fossil fuels and support local social and economic development. AmBank Group business banking managing director Christopher Yap said the company looks forward to working with strong partners like Constant Energy Group and its consortium to drive impactful, future-ready energy solutions.

KUALA LUMPUR: Average monthly rents in Kuala Lumpur’s inner-city rental corridor that includes the wealthy Golden Triangle area reached a seven-year peak of RM6,454 in the first half of 2024, according to data from more than 1,000 transactions analysed by IQI, one of Asia’s largest real estate networks. “That is when rents hit their peak,” said Juwai IQI Co-Founder and Group CEO Kashif Ansari adding that the first-half 2024 rent was up 58% year on-year and marked the highest average rent recorded in the area since IQI began tracking it in 2018. “The surge was a result of a change in the mix of homes that happened to rent. It doesn’t mean rents jumped on every single home across the district,” said Ansari. The data covers residential rental transactions across three postcodes in central Kuala Lumpur: 50200, 50450, and 55100. These span the Chow Kit and KLCC-adjacent precinct. These figures represent the average rent paid per transaction in KUALA Kenanga Investors Bhd has launched its latest fund, the Kenanga Shariah US Titans 50 Fund . The fund feeds into the Eq8 Dow Jones US Titans 50 ETF (EQ8US50), managed by Eq8 Capital Sdn Bhd, which tracks fifty of the largest US domiciled syariah-compliant companies listed on the US market. The launch of KSUST50F represents a bold step forward for Kenanga Investors’ product innovation initiatives by bridging the gap between exchange-traded funds (ETF) and conventional unit trusts. Through its structure as a retail feeder fund, it channels investments directly into the ETF while presenting it in the form of the familiar unit trust transaction, enabling a broader segment of investors to access dynamic, high-performing, syariah-compliant US companies. The fund enables investors to access the EQ8US50, offering diversified exposure to 50 large-cap and leading syariah-compliant companies listed in the US, including well-known names such as Nvidia, Microsoft, Apple, Alphabet and Tesla. Launched in 2018, the EQ8US50 has established a solid track record, recording an annualised return of 16.8% over the past five years as at end February 2026. “The launch of KSUST50F enhances financial inclusion while addressing the demand for syariah-compliant financial pro ducts in Malaysia due to its underlying principles of ethical LUMPUR:

investing,” Kenanga Investors CEO and executive director Datuk Wira Ismitz Matthew De Alwis said. “We are confident that the fund will contribute to the growth of the Islamic capital market by channelling funds into syariah-compliant US equities. “Investors will also gain exposure to global leaders and innovation in technology, healthcare, and con sumer goods that are shaping the future”. Eq8, the dedicated ETF arm of Kenanga Investors, specialises in delivering passive management investment solutions and the EQ8US50, its flagship ETF, aims to mirror the performance of the Dow Jones Islamic Market US Titans 50 Index. Eq8 CEO and executive director Umar Alhadad said: “Through the scheme, investors can access a simple, familiar, and seamless pathway to long term growth via EQ8US50, a time tested and proven underlying investment. “With daily disclosures of EQ8US50 holdings, investors benefit from complete transparency and clear insight into the portfolio’s underlying companies. “Furthermore, the ringgit denominated KSUST50F removes the unfamiliarity often associated with investments in US dollar, making global exposure more accessible than ever”. It is suitable for investors who are seeking diversification and investment opportunities in the US market through the target fund and medium

term to long-term investment horizon as well as short-term trading and arbitrage opportunities. The minimum initial investment amount is RM1,000 while subsequent investments are at a minimum of RM100. The fund’s benchmark is a composite benchmark index comprising 85% Dow Jones Islamic Market US Titans 50 Index and 15% Maybank Islamic Overnight Deposit Rate. Most recently, the EQ8US50 was recognised at the inaugural IFN Investor Fund Awards as the Best De Alwis ... launch of KSUST50F enhances financial inclusion. pandemic-era correction that saw average rents fall to RM3,266 in early 2021. They fell 38% from pre-Covid levels before the rapid recovery pushed rents back up. In the second half of 2024 and into 2025, average rents moderated and have settled into the RM4,500 to RM5,000 range. “IQI’s 4-period moving average, which smooths short-term volatility, has continued to climb and now sits above RM5,300, its highest point in the dataset. “Don’t expect it to keep climbing. I believe the moving average will decline this quarter as the exceptionally high rents of the first half of 2024 drop out of the calculation. “That’s what I mean when I say the market is consolidating after an exceptional run. “Rents will likely stay between RM4,500 and RM5,000 over the next 12 months,” said Ansari. Some of the highest-priced rental transactions in the second half of 2025 took place in the serviced

ETF Fund in Malaysia 2025 and the Best ETF Fund in Asia Pacific 2025. Country awards identify top-performing funds within domestic markets, while regional awards aggregate these results across five key geographies: the Middle East, Asia Pacific, Europe, Africa and the Americas. The awards draw exclusively from the IFN Investor Funds Database using a quantitative framework that rewards consistent outperformance capturing the evolving landscape of Islamic fund management across regions and asset classes. Umar ... EQ8US50 is a time tested and proven underlying investment. residences of the Banyan Tree Signatures Pavilion. Rents for transactions in the Banyan Tree Signatures ranged from RM5,500 to more than double that. Other buildings with similarly expensive rental transactions in the most recent half-year are the Four Seasons Place, St Mary Residences, and Hampshire Park Condominiums. “These buildings set the benchmark for ultra-luxury living in Kuala Lumpur. They offer proximity to major office buildings like Petronas Twin Towers and luxury shopping malls like the Pavilion. “They also offer saltwater pools, parks, lounges, spas, and other lifestyle features that give their residents the feeling that they live in a resort rather than in the middle of a busy city. “But even those of us without big budgets can afford to live in this area of central Kuala Lumpur,” he added. This area welcomes both the middle class and the wealthiest residents.

Rents in KL’s urban core hit seven-year high before stabilising

each six-month period, drawn from IQI’s internal transaction records. “The surge followed a sharp Ansari says the surge was a result of a change in the mix of homes that happened to rent.