06/05/2026

BIZ & FINANCE WEDNESDAY | MAY 6, 2026

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AI expected to contribute up to RM20b annually to Malaysia’s GDP by 2030: Gobind PUTRAJAYA: Artificial intelligence (AI) is expected to contribute between RM13 billion and RM20 billion annually to Malaysia’s gross domestic product (GDP) by 2030, said Digital Minister Gobind Singh Deo. He said AI is already demonstrating tangible economic value in Malaysia, with projections indicating it could add between 0.8 and 1.2 percentage points to Malaysia’s GDP growth each year. “At the national level, the digital economy, increasingly powered by AI, contributed over 23% to Malaysia’s GDP last year, amounting to more than RM450 billion in economic value. “These are not projections in isolation. They signal a structural shift where AI is no longer peripheral to the economy, but central to productivity, competitiveness and national growth,” he said in his speech at the 5th International Conference on Youth 2026 (ICYouth) hosted by Universiti Putra Malaysia (UPM) here yesterday. His speech text was read by Deputy Digital Minister Datuk Wilson Ugak Kumbong. In his speech, Gobind also said the ministry will soon launch the Government Innovation Initiative (GII), a platform that opens up real problem statements from the public sector for innovators, researchers and youth to develop solutions using emerging technologies, including AI. “GII is not just about innovation; it is about guided innovation. It ensures that experimentation happens within a framework, where ideas can be tested, refined, and scaled responsibly. “In this context, institutions like UPM are critical. They provide the technical capability, research environment and talent base that can directly respond to the problem statements surfaced through the GII,” he noted. Gobind also stressed that the long-term impact of AI depends on how it is developed and used, especially by the younger generation. “Ultimately, the future of AI will not be determined by technology alone, but by the values we embed within it.”

Mara Corp to undertake projects worth RM2.2 billion

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

increased to RM1.026 billion from RM917.26 million in 2024, while profit after tax stood at RM85.9 million,” he said. Zulfikri added that the commercial segment has seen a significant turnaround over the past few years. “For the Mara Corp commercial companies, compared to 2021, we recorded an increase of RM152 million, but in 2025, revenue reached RM1.026 billion, which means an increase of almost 10 times,” he said. He noted that the improvement reflects a shift towards a more commercially driven operating model, supported by rationalisation efforts and new growth initiatives across the group. Despite the stronger performance, he said Mara continues to address legacy financial challenges stemming from earlier phases of its development, when several subsidiaries were not structured as commercial entities. Zulfikri said accumulated losses at Mara Corp stood at RM862.1 million in 2023 but have since been reduced to RM558.9 million by end 2025. “We are now setting a strategy to reduce the accumulated losses through capital reduction and business turnaround initiatives. There are a lot of new initiatives that we are implementing to ensure progressive growth for Mara Corp,” he said. The agency is targeting to reduce accumulated losses further to RM49.7 million by end-2026 before returning to an accumulated profit position in 2027. Zulfikri said the turnaround strategy focuses on capital restructuring, improving operational efficiency and strengthening revenue-generating segments within Mara Corp.

o Company targets return to accumulated profit position by 2027

KUALA LUMPUR: Mara Corp Group is undertaking investments involving carbon credit initiatives, high-value property development and future development projects worth RM2.2 billion as it targets return to an accumulated profit position by 2027. Mara director-general Datuk Zulfikri Osman said Mara is rolling out the RM2.2 billion in strategic investments aimed at strengthening its asset base, diversifying revenue streams and enhancing long-term portfolio resilience. The investment pipeline includes high-value property developments in Signal Hill in Kota Kinabalu, Ampangan in Negeri Sembilan and Jalan Maktab in Kuala Lumpur, as well as a future development hub in Pulau Indah.

supported by tighter governance, disciplined capital allocation and business turnaround initiatives. “For the period of 2024 to 2025, Mara as a whole, through the subsidiaries of Mara, has recorded an increase in revenue by 10%, from RM1.53 billion in 2024 to RM1.69 billion in 2025,” he said. He said Mara’s structure comprises both development and commercial entities, with five development companies that are not profit-driven and 12 commercial companies operating under Mara Corp. “For the Mara Corp companies, the financial performance in 2025 shows that total revenue has

“These projects are expected to generate recurring income streams and improve asset utilisation, while positioning Mara to participate in higher-value segments of the property market. At the same time, Mara is expanding into new investment areas, particularly carbon credit initiatives, in line with global sustainability trends and Malaysia’s push towards a low carbon economy,” he told a press conference in conjunction with Mara’s 60th anniversary yesterday. Zulkifli said the investment push forms part of a broader corporate financial transformation that is already delivering measurable improvements in performance,

(From left) Mara senior director (investment) Dr. Azmi Amat Murjan, Zulfikri and Mara Corp acting group CEO Datuk Amir Azhar Ibrahim at the press conference.

Capital A sees steady performance as core businesses drive growth KUALA LUMPUR: Following the completion of the PN17 regularisation plan, Capital A is fully focused on executing its strategic growth agenda. While 1Q2026 saw positive demand from the Chinese New Year and Hari Raya festive seasons, performance was balanced by conflict in the Middle East and the traditionally quiet Ramadan period. Nonetheless, the Group achieved solid Year-on-Year (YoY) growth across key operating metrics, underscoring the resilience and scalability of its diversified operations. Total checks declined 4% YoY, primarily due to heavier C-checks that required longer turnaround times and slightly impacted throughput. Beyond base maintenance, ADE continued to strengthen its line maintenance footprint, supporting all AirAsia aircraft across more than 20 airports. It also expanded its third-party portfolio to six airlines, up from four a year ago. ADE completed 230 flight transits during the quarter. significantly, further expanding the segment. Teleport recorded a significant increase in operations for the quarter, moving 96,783 tonnes of cargo (+25% YoY) and 61.7 million parcels (+122% YoY). This growth was achieved on the back of growing eCommerce demand across the Asia-Pacific region, allowing Teleport to capture increased volumes especially across the Malaysia and China corridors. (MAU’s) grew 20% Quarter-on Quarter (QoQ) and 23% YoY to 17.1 million. Total app installs and engagement rates across chats and community platforms both rose 14%. These results helped drive customer retention. million seats sold in 1Q2026, representing a 16% YoY increase. This growth was driven by accelerated agent onboarding and enhanced API distribution capabilities, alongside a surge in inbound traffic from global and local OTAs across key markets including China, India, Japan and Korea. AirAsia Next continues to serve as a strategic cornerstone for brand licensing, technology and ecosystem management. It owns the AirAsia, AirAsia MOVE and Santan brands, and is currently finalising agreements to manage two other Capital A entity brands.

AirAsia flight seats sold grew 4% YoY despite macro headwinds. While FlyBeyond seats sold fell 18% YoY following the strategic suspension of specific airline sales, quarterly traction rose 11% and its contribution to the flight segment increased 1% QoQ. Ancillary units sold increased 15%, supported by a 33% rise in the EasyCancel attach rate due to demand for “peace of mind” digital products. Furthermore, Stays room nights grew 2% YoY, backed by the SNAP flight-bundle, which secured higher value stays and offset softer standalone leisure demand. Wano, the new B2B line of business, gained significant traction with 9

Central to this performance is the Teleport Network, which mobilises a hybrid fleet model comprising AirAsia’s belly capacity, over 55 partner airlines and dedicated freighters. Teleport effectively scaled its hybrid network as volume moved via partner airlines and AirAsia capacity both surged 110% YoY (to 13,552 tonnes) and 21% YoY (to 72,547 tonnes) respectively. AirAsia MOVE platform had a strong start. Monthly Active Users

While this represented a 4% YoY decrease due to routine schedule adjustments, the growing client base reflects growing market confidence in ADE’s capabilities. ADE’s workshop segment remained a key growth driver, completing 7,331 orders, up 12% YoY. Growth was driven by increased fleet utilisation and operational recovery. Notably, third-party demand for A320 wheel repair and overhaul rose

Capital A Bhd disclosed this when releasing the operating statistics for the first quarter of the Financial Year 2026 (1Q2026) yesterday Asia Digital Engineering (ADE) maintained a stable base maintenance service in 1Q2026, averaging eight aircraft monthly. The team completed 25 checks, representing a 13% increase from the previous quarter.

It is also finalising a licensing agreement with a major hotel chain to extend the AirAsia brand into hospitality The rewards loyalty platform reach expanded to over 37 million active members. Points issuance surged 30% YoY to 1.6 billion, driven by the addition of six new merchant partners.