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SATURDAY | MAY 30, 2026

M’sian luxury hospitality sector resilient: Ritz Carlton Langkawi

Ű BY JOHN GILBERT sunbiz@thesundaily.com

KUALA LUMPUR: RHB Bank’s net profit increased 14.2% to RM856.75 million in the first quarter ended March 31, 2026 from RM750.03 million a year ago, supported by higher non-fund-based income, net funding income and lower allow ances for credit losses. Revenue slipped to RM4.26 billion from RM4.38 billion previously, it said in a Bursa Malaysia filing yesterday. Net fund-based income grew 4.6% year-on-year (y-o-y) to RM1.6 billion, supported by 6.2% y-o-y gross loans growth and lower funding cost. LANGKAWI: The luxury hospitality market in Malaysia and Southeast Asia remains optimistic about its growth outlook, despite ongoing geopolitical tensions in the Middle East. Industry players expect Langkawi’s luxury hospitality segment to evolve beyond traditional beach resort offerings, with greater emphasis on curated experiences, wellness-driven travel and higher-end lifestyle tourism. As competition increases and more international brands enter the island, operators are likely to focus more on differentiation through personalised services, destination led experiences and stronger integration of local culture and nature. This is expected to further position Langkawi as a mature luxury destination in Southeast Asia, while attracting a broader mix of affluent regional travellers seeking shorter, more experience-focused getaways. The Ritz-Carlton Langkawi director of sales and marketing Zulkifli Rahman said the resort remains positive about the outlook, adding that most destinations in the region are already well established and that travellers today are experienced and well exposed to neighbouring markets. “Langkawi continues to maintain a fairly strong position within the luxury segment. Moving forward, much will depend on broader economic conditions. If costs continue to rise, particularly fuel prices, there could be some impact on travel patterns, especially within domestic markets,” he told SunBiz . Zulkifli said Malaysia has a sizeable domestic travel base but, naturally, there is a ceiling to how much the market can absorb. “At the same time, we have seen this kind of uncertainty before. During the Covid-19 period, nobody knew how long the situation would last, and people adopted a wait-and see approach. I would say the current environment carries some simi larities, although I believe this phase will be much shorter. “Life and business have to move forward eventually,” he said. “What we hope now is that current economic pressures do not persist for too long, because we are already seeing some impact on domestic demand, particularly

o Outlook remains positive, market poised for expansion despite pressure amid ongoing global uncertainty, says sales and marketing director

launch a refreshed concept for our Horizon Bar and Lounge, with a completely new look and feel. There are also ongoing refurbishment initiatives across the property as we continue introducing fresh ex periences to the market. “One trend we have observed very clearly over the past two years is the sharp increase in repeat guests, particularly from the domestic market. As guest loyalty strengthens, there is naturally a greater need to continuously refresh experiences and create new spaces for them to enjoy,” Zulkifli said. The Horizon Bar and Lounge refurbishment will be the first major project launched, with more en hancements to come. Zulkifli said the hotel recently introduced its first luxury catamaran experience, the Dayang Mastura , a 62-foot Lagoon 620, to meet growing demand in the domestic leisure market. Initially soft-launched in December last year, the offering officially commenced operations in April and has since become part of the property’s broader experiential hospitality portfolio. Zulkifli said the catamaran experience is designed to enhance the resort’s sunset and ocean lifestyle offerings, allowing guests to enjoy curated sunset cruises, private dining experiences onboard, and excur sions to nearby private islands for swimming and picnics. “The experience is offered as an optional, chargeable add-on, giving guests the flexibility to customise their stay. While some may opt for a full experiential package, others can choose standalone activities such as a sunset cruise or exclusive dining experience during their stay,” he added.

Non-fund-based income grew 14.1% y-o-y to RM600 million, on higher fee income, and net trading and investment income. Total income was RM2.2 billion, contributed by both net fund-based and non-fund-based income streams. RHB Bank maintained its prudent cost discipline with a cost-to-income ratio of 46.2% while sustaining healthy capital and liquidity po sitions. Its total assets were RM365 billion, supported by strong balance sheet growth. during school holidays and long weekends, which are traditionally strong periods for local travel,” Zulkifli said. From an Asia-Pacific perspective, and Southeast Asia specifically, the long-term outlook is still very positive, he said. “We continue to see growth opportunities within the pipeline, including upcoming projects across the region. There is still substantial room for expansion in the luxury hospitality segment. The entry of more established global brands would elevate the destination further and reinforce confidence among travellers and investors alike.” Zulkifli noted that, specifically in Langkawi, there is capacity for more luxury inventory. He said that at the moment, the market is largely concentrated among only a handful of inter national luxury brands, so there remains an opportunity for further growth. The entry of more established global brands would elevate the destination further and reinforce confidence among travellers and investors alike. Leveraging a strong luxury brand presence, Zulkifli said The Ritz Carlton Langkawi is well positioned to attract domestic business travellers, particularly C-suite executives who may opt for local destinations over overseas trips. Touching on The Ritz-Carlton Langkawi, Zulkifli said the hotel will celebrate its 10th anniversary next year, a significant milestone. “We are fortunate to have very supportive owners who have continued investing in the property since day one. “In line with that, we will soon

Zulkifli says that, specifically in Langkawi, there is capacity for more luxury hospitality inventory.

The Ritz-Carlton Langkawi, one of the newer luxury properties on the island, opened in September 2017, featuring a combination of guest rooms, suites and villas designed to reflect the traditional Malaysian kampung concept, creating a “home away from home” experience with a strong emphasis on local culture and

natural surroundings. Its architectural and interior elements are heavily inspired by local heritage, including the design of its restaurant, which draws inspiration from the traditional fish trap, or bubu , commonly used by fishermen in Kedah, which is known as the “Rice Bowl of Malaysia”.

RHB Bank Q1 net profit rises to RM856.75 million

“We are supporting SMEs through targeted measures, including access to financing under Bank Negara Malaysia’s SME Stabilisation Relief Facility, supported by guaranteed schemes to enhance funding accessibility,“ he said. The group remains focused on executing its strategic priorities, with emphasis on sustaining growth, while maintaining prudent risk management, strengthening resi lience and supporting customers through evolving market conditions. – Bernama

director/group CEO Datuk Mohd Rashid Mohamad said in a statement that the operating environment continues to be shaped by global uncertainties, including geopolitical tensions, evolving trade dynamics and cautious market sentiment. “Against this backdrop, we remain committed to supporting our customers while maintaining prudent financial discipline. We recognise that many businesses, particularly small and medium enterprises, continue to navigate cost pressures and external uncertainties.

Meanwhile, shareholders’ equity amounted to RM33 billion, with the Common Equity Tier-1 ratio and total capital ratio at 14.7% and 17.1%, respectively, providing solid buffers against external uncertainties and supporting future growth. RHB Banking Group managing