11/05/2026

MONDAY | MAY 11, 2026

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BANKING & INSURANCE

‘Malaysia must recalibrate energy transition financing’

‘Magnificent seven’ for Manulife IM

PETALING JAYA: Manulife Invest ment Management (M) Bhd has been recognised with seven accolades at the LSEG Lipper Fund Awards Malaysia 2026, reinforcing its track record of delivering consistent, long-term performance across market cycles. The awards span three-, five-, and ten-year performance periods across equity and mixed asset strategies, in both conventional and Islamic segments. Thebroad-based recognition reflects the firm’s disciplined investment approach and its ability to generate strong risk-adjusted returns through varying marketing conditions. Manulife IM (Malaysia) scored seven wins across five of its individual funds: 0 Manulife Investment Asia-Pacific ex Japan Fund Best Equity Asia Pacific ex Japan (Provident) Fund over 3 Years; and Best Equity Asia Pacific ex Japan (Provident) Fund over 5 Years. 0 Malaysia Investment Dividend Fund Best Equity Malaysia Income (Provident) Fund over 3 Years; and Best Equity Malaysia Income (Provident) Fund over 5 Years. 0 Manulife Investment Al-Fauzan Best Equity Malaysia Income (Islamic) Fund over 10 years. 0 Manulife Investment Shariah Progress Fund Best Equity Malaysia Small & Mid Cap Malaysia (Islamic) Funds over 10 Years. 0 Manulife Investment-HW Shariah Flexi Fund Best Mixed Asset MYR Flexible (Islamic) Funds over 10 years. Manulife IM (Malaysia) CEO, Jason Chong said: “The past year was shaped by heightened market volatility and external uncer tainties, but also presented selective opportunities. “Our performance was driven by a disciplined, bottom-up stock selection approach complemented by a top-down macro approach. This enabled us to capture oppor tunities across sectors and market cycles. “In particular, improving domestic demand and greater policy clarity supported a recovery in consumer-related segments, contributing positively to portfolio performance. “These awards reflect the strength and consistency of our investment process and our continued focus on delivering sustainable, long term value for our clients.” He added: “Receiving seven accolades at the LSEG Lipper Fund Awards Malaysia 2026 is a testament to our investment philosophy and capabilities in capitalising on long term opportunities for our cus tomers through various economic and market cycles. “Looking ahead, we remain selective in our position as external headwinds continue to shape market conditions.” at LSEG Lipper Fund Awards

What we need is predictability in the energy trajectory,” he said. On that front, Arshad was unequi vocal about two commitments that must remain intact. “The growth in renewable energy capacity must not change. The targets are clear – 30% by 2030 and 70% by 2050 – and we must stay the course regardless of external pressures. Similarly, the planned retirement of coal-fired power plants by 2044 must be upheld,” he said. Arshad acknowledged the on going “chicken-and-egg” dynamic between policymakers, infrastruc ture readiness and financing, but maintained that capital availability is not a constraint. “The money will follow policy. Large power players can access funding through banks or capital markets. What is critical is that policy direction remains consistent and credible. Once that is in place, financing will align accordingly,” he said. Ultimately, Arshad argued, Malaysia’s energy transition hinges less on capital constraints and more on disciplined execution and timely policy recalibration. “We have the capacity to adjust. The key is ensuring our projections reflect today’s realities – especially with new demand drivers like data centres – while staying firmly committed to our long-term renewable targets,” he said.

required for the energy transition. When the National Energy Transition Roadmap was first developed, projections accounted for demand up to 2050. But what wasn’t fully anticipated then was the surge in data centre investments,” Arshad said. The rapid expansion of data centres, he noted, is materially altering Malaysia’s energy demand profile,

o CIMB Islamic sustainable finance head outlines two emerging risks that could undermine progress towards achieving decarbonisation goals

Ű BY JOHN GILBERT sunbiz@thesundaily.com

Energy, Water and Climate Change Summit 2026 recently. However, he stressed that this view is in creasingly outdated. “That convenience is

potentially accelerating the utilisation of available finan cing headroom. “If we don’t adjust our assumptions, we risk running out of capacity to finance the transition – not because of a lack of capital but because the existing limits will be reached faster than expected,” he said. Arshad called for an update to national energy capacity projections to incorporate the additional

Banking & Finance AmBank Group has built a strong strategic partnership with Weststar PETALING JAYA: AmBank Group, through AmBank Islamic Bhd, has granted RM2 billion financing to Weststar Aviation Services Sdn Bhd. The financing is part of a syndicated financing facility to support Weststar’s helicopter fleet expansion, strengthen working capital and facilitate the manage ment of foreign exchange require ments, enhancing Weststar’s leader ship in shaping the future of the nation’s aviation landscape. The expanded fleet will also support oil and gas operations, providing essential offshore transport services to Malaysia’s energy sector, while accelerating Weststar’s growth in the defence and emergency response sectors in support of national priorities. AmBank Group CEO Jamie Ling said, “We are pleased to support Weststar in scaling its operations and reinforcing its global footprint. As the company continues to lead the way in aviation innovation and reliability, its expanded capabilities will contribute to supporting commercial oil & gas operations vital to the nation’s energy security and also further enhance Malaysia’s defence and emergency response readiness which is another service track offered by Weststar to the Malaysian government.” KUALA LUMPUR: Malaysia must guard against short-term decision making and recalibrate its energy transition financing assumptions as new demand drivers – particularly data centres – reshape the country’s energy landscape outlook. CIMB Islamic Bank head of sustainable finance Arshad Nuval Othman ( pic ) outlined two emerging risks that could undermine progress towards the nation’s decarbonisation goals, even as the financial system remains fundamentally sound. The first, he said, is what he termed a “perception of con venience” surrounding coal. “In the current geopolitical environment, with elevated oil and gas prices – especially gas, which makes up a significant portion of our generation mix – there is a tendency to think it’s easier to fall back on coal. The infrastructure is already there, and on the surface, it appears cheaper,”Arshad said at the Malaysia

largely perceived, not real. Renewable energy infrastructure is now cheaper and, more importantly, it can be deployed quickly. Solar projects, for instance, can be up and running within six months. So while the temptation is

load from data centres. This, in turn, would allow regulators and financial institutions to recalibrate exposure limits and maintain sufficient funding channels for renewable energy projects. Despite these challenges, he emphasised that Malaysia’s financial ecosystem remains robust. “Our banking system and capital markets are mature and stable, with strong regulatory oversight. Predictability in the financial markets is not the issue.

there to revert to coal, the economics and timelines clearly favour renewables,” Arshad said. The second risk lies within the financial system itself – specifically the constraints imposed by single counterparty exposure limits. Under current banking regu lations, institutions are restricted to lending no more than 25% of their equity to a single borrower. “This becomes relevant when we look at the scale of financing

Weststar Aviation secures RM2b financing from AmBank

Front row, from left: AmBank, head, WBC Large Corporate 5 Datuk William Koh, Weststar Group CFO Datuk Mohd Wazeer Nawawi and AmBank head, debt markets, Yeoh Teik Leng. Second row, from left: AmBank Islamic CEO Eqhwan Mokhzanee, AmBank managing director, wholesale banking, Datuk Jamzidi Khalid, AmBank Islamic chairman Datuk Mohamed Rafique Merican Mohd Wahiduddin Merican, Syed Azman, and Weststar Aviation Services Sdn Bhd director Syed Muhammad Azni Syed Azman and CEO Datuk Wan Hasmar Azim Wan Hassan at the signing ceremony.

petitiveness. Together with Ambank, we are confident in delivering sustainable growth, supporting national priorities, and positioning Weststar as a key driver of future growth industries.” AmInvestment Bank Bhd’s role as the lead coordinator and a joint mandated lead arranger underscores AmBank Group’s strong structuring and capital markets capabilities in delivering complex financing solutions.

complex global landscape. This strategic collaboration with the AmBank will accelerate our fleet expansion while further strengthening our operational capabilities both domestically and internationally. “It enhances our resilience, supports critical sectors such as oil and gas, defence and emergency services, and reinforces our commit ment to advancing Malaysia’s eco nomic strength and regional com

over the past 15 years.

With the recently approved financing, Weststar is firmly posi tioned to accelerate its expansion at scale, strengthening its market leadership and advancing its next phase of strategic growth. Weststar Group managing director Tan Sri Syed Azman Syed Ibrahim said: “Weststar’s strength lies in our ability to innovate, diversify, and remain agile in an increasingly

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