21/05/2026

BIZ & FINANCE THURSDAY | MAY 21, 2026

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Heineken maintains focus and disciplined execution amid challenging conditions PETALING JAYA: Heineken Malaysia Bhd’s revenue decreased by 13% year-on-year, mainly due to softer consumer sentiment, alongside a deliberate and proactive reduction of the group’s sales ex-brewery to align with the challenging market dynamics, laying a foundation for stronger underlying momentum going forward. In announcing its (1QFY26), the group said Profit Before Tax (PBT) and net profit were 15% lower, in line with the reduced revenue base and supported by effective revenue management initiatives and continued cost discipline. Heineken Malaysia managing director Martijn van Keulen ( pic ) said: “Following strong 4QFY25 results, 1QFY26 performance reflects a more challenging operating environment, with softer consumer sentiment and geopolitical developments that influenced spending patterns. “We continue to be firmly focused on a targeted consumer-led approach to strengthen our growth fundamentals and further improving our productivity through revenue optimisation and structural cost efficiency. “While external conditions remain evolving, these actions strengthen our resilience and position us to capture opportunities as market conditions improve, supporting long term value creation under our EverGreen 2030 strategy. “Under EverGreen 2030, technology and agility are central to how we drive long-term growth and productivity. Our Digital Backbone is one of our largest transformation programmes, focused on strengthening our digital foundation by standardising ways of working, harmonising end to end processes, and unlocking the power of data across the business. “By integrating multiple digital platforms, we are improving process consistency, automation and decision making, while building a more agile and connected organisation, with deployment on track for 4Q 2026.” The group commends the government and enforcement agencies for their continued efforts to stamp out illicit beer, which plays a critical role in protecting legitimate businesses, safeguarding consumer safety and protecting government revenue. The beer industry remains a key contributor to Malaysia’s economy, generating RM7.1 billion annually, contributing RM3.3 billion in tax revenue, and supporting over 52,000 jobs across the manufacturing, logistics, retail and hospitality sectors, based on the latest Confederation of Malaysian Brewers Berhad’s Economic Impact Assessment (EIA). On the outlook, Martijn shared: “The market outlook remains soft, with continued uncertainty amid geopolitical challenges, particularly the Middle East crisis, and subdued consumer sentiment. “These conditions are expected to continue weighing on demand and cost pressures, underscoring the need for sharper focus and execution. Guided by our EverGreen 2030 strategy, we remain focused on disciplined and agile execution to strengthen fundamentals, step up productivity and build a more resilient, future fit organisation.” financial results for the first quarter ended March 31, 2026

SC issues revised guidelines on recognised markets

o Move marks significant step in evolution of regulatory framework for Digital Asset Exchange

institutional discipline required of a mature capital market. “Our enhanced guideline demands resilient and credible partners within Malaysia’s financial market ecosystem. As the market grows more inclusive and innovative, it must be balanced with the highest standards of governance,” he added. Malaysia’s digital asset market continues to record steady growth, with total trading value on regulated DAXs increasing to RM17.14 billion in 2025, representing a 23% increase from RM13.93 billion in 2024. Besides enhancing the regulation of DAX platforms, the SC continues to bridge the gap between traditional and alternative markets. This includes issuance of a Practice Note clarifying digital asset broking services and an updated Guidelines on Exchange-traded Funds to enable the offering of digital currency ETFs. SC said that these initiatives will significantly broaden investor access to digital assets while maintaining the integrity of Malaysia’s capital market. The amendments in the guidelines took effect yesterday. The revisions take into account the SC’s findings following a benchmarking exercise, engagement with key stakeholders and feedback from public consultation conducted last year.

PETALING JAYA: The Securities Commission Malaysia (SC) has enhanced the Guidelines on Recognised Markets (Guidelines), marking a significant step in the evolution of the regulatory framework for Digital Asset Exchange (DAX). In a statement yesterday, SC said the enhancements will bolster the competitiveness of regulated DAX operators while fortifying investor protection and the overall resilience of Malaysia’s digital asset segment. “This aligns the local digital asset landscape with global developments amid growing institutional participation in this asset class,” it added. The revised guidelines aim to speed up product launches on regulated DAX platforms by streamlining the approval process, while holding DAX operators to higher standards of accountability; fortify investor protection by strengthening client asset safeguards and enhancing the governance framework; and enhance operational resilience of regulated DAX platforms by raising requirements for financial stability, shareholding and management proficiency.

In addition, SC said DAX operators will be included as members of the Financial Markets Ombudsman Service (FMOS) in 2026, giving investors access to a formal dispute resolution avenue. Furthermore, the SC said it is tightening regulatory action against unregulated digital asset activities with administrative action taken against four DAXs for operating without registration. Meanwhile, the SC has also worked with technology companies such as Google to limit unregistered DAX from promoting their services to Malaysians via social media platforms and channels, starting April 14, 2026. This enhanced DAX framework is in line with the Capital Market Masterplan’s 2026 2030 goal of increasing Malaysia’s capital market size to RM5.8 - RM6.3 trillion by 2030. The growth of digital assets is a key pillar in building a more vibrant, inclusive and resilient market ecosystem. Securities Commission chairman Datuk Mohammad Faiz Azmi said the digital asset industry must evolve and embrace the

DT Infrastructure will also provide ongoing operations and maintenance services for the projects.

Gamuda secures big solar and battery hybrid projects in Australia PETALING JAYA: Gamuda Bhd, through its wholly-owned subsidiary in Australia, DT Australia, will include 720MW of solar and 600MW/2,400MWh of battery energy storage system (BESS). provide ongoing operations and maintenance services for both assets following completion, supporting long-term asset performance and reliability. in Western Australia’s Pilbara region. In addition, other key projects under DT Infrastructure include Stage 1 of Marinus Link, a major undersea and underground

Infrastructure, has been appointed by Edify Energy to deliver the Smoky Creek and Guthrie’s Gap Solar Power Stations in Central Queensland, Australia, with a contract value of A$1.1 billion (RM3.12 billion ). The projects, which are the largest solar and battery hybrid projects in construction in

With the two projects awarded as Engineering, Procurement and Construction (EPC) contracts, the scope of works includes the design, procurement, construction, testing and commissioning of the solar generation, BESS and associated balance of plant infrastructure. DT Infrastructure will also

The contract duration for both projects is two years and five months each. This milestone was followed by Gamuda’s recent announcement in early May, where DT Infrastructure was appointed to deliver the 75MW Jinbi Solar Farm

electricity and data interconnector between Tasmania and Victoria; the 585MW Goulburn River Solar Farm coupled with 49 MW/562 MWh BESS, the 228MW Boulder Creek Wind Farm and 256MW Carmody’s Hill Wind Farm.