Inovatif

Author: admin

  • Regional study reveals spending patterns across key SEA markets in 2025

    Regional study reveals spending patterns across key SEA markets in 2025

    Southeast Asia (SEA) remains one of the fastest-growing regions globally, with household consumption as the major driver. While often viewed as a single economic bloc, a new study by Milieu Insight indicates that the region has diverged into three distinct consumer economies, shaped by differences in outlook, financial pressure, digital adoption, and spending priorities.

    The study draws on responses from 3,054 consumers across six key SEA markets – Singapore, Malaysia, Thailand, the Philippines, Indonesia, and Vietnam. It examines current spending sentiment compared to three months prior, trade-offs prompted by grocery inflation, the role of digital payments, and expectations for purchasing behaviour into 2026.

    “Consumers in SEA are no longer behaving as a unified market,” said Juda Kanaprach, Co-Founder and Chief Commercial Officer at Milieu Insight. “Different levels of financial pressure and sentiment are shaping three distinct consumer economies. A single regional playbook is ineffective, businesses must understand the specific financial and emotional contexts driving decision-making in each market.”

    The Stressed Digital Economy: Philippines, Indonesia, Vietnam
    Consumers in the Stressed Digital Economy, the Philippines, Indonesia, and Vietnam, are increasing spending despite financial constraints, supported by strong digital payment adoption and resilient sentiment. Across these markets, 59% of consumers report spending more than three months ago, the highest in the region. Grocery inflation remains a core pressure point, with 77% in the Philippines and 83% in Indonesia identifying groceries as unavoidable expenditure, prompting substitution towards more affordable proteins and brands. E-wallet usage is deeply embedded: 64% of Filipinos and 57% of Indonesians prefer digital wallets for routine transactions.

    These markets are likely to further entrench digital-first purchasing, with e-wallet adoption expected to continue rising. However, the sustainability of spending will depend on whether inflation stabilizes. Optimism currently sustains consumption, but prolonged price pressures may test that resilience.

    The Strategic Comfort Economy: Singapore, Malaysia
    Consumers in Singapore and Malaysia demonstrate financial stability but pair it with disciplined, value-oriented decision-making. Singapore records the lowest spending increase in the region, with 40% reporting higher expenditure compared to the Southeast Asia average of 51%. This does not indicate weakened purchasing power, but rather deliberate control of discretionary spending. Value maximization is prominent: 83% of Singaporeans wait for promotions, and 58% prefer credit cards for rewards and cashback.

    Malaysia shows the lowest caution sentiment in the region at 20% and the highest current optimism at 28%, alongside comparatively lower grocery pressure. Consumers in this economy are selective rather than constrained, willing to spend where value, convenience, or quality is clearly justified.
    This value-optimization mindset is expected to persist. Price comparison, loyalty benefits, and clarity of value proposition will continue to influence brand and channel choice, particularly in premium lifestyle and convenience categories.

    The Transition Economy: Thailand
    Thailand remains the region’s most sentiment-responsive market. While 56% of consumers describe themselves as cautious, the highest in Southeast Asia, 54% still report increased spending, indicating prioritization rather than broad reduction. Thailand also shows the strongest expected improvement, with 53% anticipating greater optimism in the coming quarter.

    Payment habits reflect a market in transition, with cash and e-wallet usage at equal levels (39% each).
    Over the next year, Thailand’s consumer economy will hinge on the direction of sentiment. If confidence strengthens, spending growth will follow; if it weakens, caution is likely to deepen. Digital adoption will continue regardless, making Thailand a key market to watch for shifts in regional consumer mood.

    Future Outlook: Divergence Will Widen
    The differences between Southeast Asia’s consumer economies are expected to deepen over the coming years. Digital maturity, inflation exposure, and value sensitivity will continue to shape spending behaviours in distinct ways. As a result, market success will increasingly depend on understanding economic mindset rather than geography alone. Businesses entering or expanding in Southeast Asia will need market-specific value propositions and communication strategies that reflect the distinct financial behaviours and confidence levels across these three consumer economies.

    “A uniform brand narrative will not yield consistent results across Southeast Asia,” Juda added. “Pricing strategies, promotions, channel plays, and loyalty programs must now align with the economic mindset of each market, not just its geography.”

  • Western Union launches first two company-owned retail stores

    Western Union launches its first two company-owned retail locations in Malaysia. This forms part of the company’s global retail strategy, aiming to offer customers enhanced service and, ultimately, enable them to enjoy an omni-channel experience.

    The launch represents an investment by Western Union in its retail presence in Malaysia, while supporting financial inclusion in migrant communities. Malaysia has the second highest number of company-owned stores in Asia for Western Union. The first store is located in Semenyih, a locality southeast of Kuala Lumpur, and caters to the needs of the high proportion of residents there from overseas that have strong ties to countries such as Bangladesh, Indonesia, Nepal and Myanmar. The second store is also found in the outskirts of Kuala Lumpur, in Sunway, another area where migrants in Malaysia live and work.

    Western Union-owned stores represent a new retail offering, where customers can not only make international money transfers, but also benefit from premium brand experience and level of service.

    Bhavin Shah, Country Director for Malaysia, Singapore, Brunei, Hong Kong and Macau at Western Union, said, “I am extremely pleased with the launch of the first two Western Union owned locations in Malaysia. This is a vote of confidence in the nation’s retail sector, which caters to a growing population of migrant workers since the pandemic.”

    “This store marks a new way for us to re-invent and evolve our retail presence in Malaysia alongside our key committed partners and serve our customers even better. At the same time, it provides an opportunity to trial new products and services, as we aim to become a one-stop shop for all our customers’ financial needs,” continued Bhavin.

    Western Union has been present in Malaysia since 1993, with a retail network that spans the entire country.

     

  • NCT Group, Ecorise Solar and Yingli Group forms strategic collaboration for solar farm development

    NCT Group, Ecorise Solar and Yingli Group forms strategic collaboration for solar farm development

    As part of its ongoing commitment to sustainable development, NCT Group of Companies (NCT Group), through its subsidiary NCT Century Sdn Bhd, announces a strategic collaboration with Ecorise Solar Sdn Bhd and Yingli Group Co., Ltd (China) to advance large-scale renewable energy development in the northern region of Malaysia. The collaboration reinforces NCT Group’s ambition to shape future-ready industrial ecosystems by driving innovative and low-carbon solutions for the region.

    A Memorandum of Understanding (MoU) was exchanged, paving way for the development of a 150MWp Solar Photovoltaic (PV) Farm integrated with a 200MWh Battery Energy Storage System (BESS) in Delapan Special Border Economic Zone (SBEZ), Bukit Kayu Hitam, Kedah. The project aims to enhance clean energy availability in Peninsular Malaysia and support the growing demand for renewable electricity among enterprises transitioning to low-carbon operations.

    Under the agreement, NCT Group will coordinate land matters with Northern Gateway (NGX) and oversee all regulatory requirements. Ecorise Solar and Yingli Group will jointly undertake the Engineering, Procurement, Construction and Commissioning (EPCC) as well as long-term Operations and Maintenance (O&M), supported by Yingli’s global solar expertise and Ecorise’s local technical capabilities. A Special Purpose Vehicle (SPV) will be established to drive project implementation and investment participation.

    Dato’ Sri Yap Ngan Choy, Founder and Group Managing Director of NCT Group, said, “The development of a large-scale solar and storage facility in Delapan SBEZ will create tangible opportunities for investors and industries seeking cleaner and more resilient power solutions. This collaboration directly supports our mission to elevate the northern corridor as a strategic destination for advanced manufacturing, logistics and cross-border growth, particularly as we expand our ecosystem through our industrial park, NCT InnoSphere (NIS).”

    The collaboration also complements NCT Group’s ongoing development of NIS within the Delapan SBEZ, undertaken in collaboration with NGX. As Kedah’s first Managed Industrial Park focused on high-value, sustainable and cross-border industries, NIS enhances the region’s competitiveness through its strategic location and supports NCT Group’s broader strategy to integrate renewable energy and green infrastructure across its industrial developments.

    NIS is NCT Group’s second industrial park venture, strategically located in Delapan SBEZ, adjacent to the Malaysia-Thailand border and near Penang Port. Launched in September 2025, the project spans 137 acres of free-zone land and is being developed in partnership with NGX, with an estimated gross development value (GDV) of RM1.10 billion.

  • Foreign interest rebounds in Malaysian bonds with RM4.4b inflows

    Malaysian bond market recorded net foreign inflows of RM4.4 bil in October, reversing September’s RM6.8 bil outflows. Foreign buying was concentrated in MGS and GII (combined RM3.0 bil), with additional interest in MTB/MITB and corporate bonds at RM431.0 mil and RM937.0 mil, respectively.

    This renewed foreign interest reflected a narrowing UST–MGS yield differential as UST yields eased amid investor positioning at the start of last month to price in further potential rate cuts. The Federal Reserve’s (Fed) 25-basis-point policy rate cut at its October meeting and its announcement to end quantitative tightening in December also contributed to the fall. By end-October the 10-year UST yield eased to 4.11% (end-September: 4.16%), while the 10-year MGS yield rose to 3.52% (from 3.47%) over the same period.

    As a result, the 10-year UST–MGS yield spread narrowed to 59.1 bps as at end-October (end-September: 69.4 bps), improving the appeal of local bonds.

    However, market appetite may soften in November after the Fed adopted a more hawkish tone after the October rate cut decision amid inflation concerns, which led to a retreat in December rate cut expectations. According to the CME FedWatch Tool data, the market-assigned probability of a December cut fell to about 30% on 20 November, down from roughly 99% a month earlier. The 10-year UST–MGS yield spread widened back to 70.0 bps as of 19 November, which diminishes the relative yield advantage of the local bond market.

  • Halal SMEs to receive full ESG Support under new MBSB–Asia CarbonX partnership

    Halal SMEs to receive full ESG Support under new MBSB–Asia CarbonX partnership

    MBSB Berhad (MBSB) today formalised a strategic collaboration with Asia Carbonx Change Plt (Asia Carbonx Change or ACCP) to provide Halal SMEs with a clearer and more practical pathway to meet ESG expectations. Through this partnership, Halal-certified and Halal-focused businesses will gain access to recognised renewable energy tools and support that help them prepare for certification, strengthen compliance and remain competitive as sustainability standards continue to evolve.

    This collaboration focuses on helping Halal SMEs improve their ESG practices through practical actions, including better energy management and recognized sustainability reporting tools. By integrating Renewable Energy Certificate (REC) solutions into MBSB’s Islamic Sustainability Financing Programme, the partnership enables businesses, particularly those adopting solar energy to access verified renewable energy attributes that help reduce Scope 2 emissions and strengthen sustainability reporting.
    Asia Carbonx Change Plt will serve as MBSB’s appointed intermediary to register, issue, manage and redeem RECs on behalf of solar asset owners and eligible MBSB customers.

    This includes asset onboarding and compliance with the internationally recognised I-REC(E) and I-Track standards, ensuring each certificate redeemed is traceable and credible.
    This partnership strengthens MBSB’s value proposition to SMEs by offering:

    • Up to 100% financing margin
    • Zero upfront capital for qualifying customers
    • Access to RECs for decarbonization reporting
    • Opportunities for REC monetization for eligible solar customers

    This follows MBSB’s latest initiative pursuant to its RM1 billion solar financing commitment and supports the Group’s broader goal of mobilizing RM10 billion in sustainable and transition finance by 2026 under its Sustainable and Transition Finance Framework. To date, MBSB has already mobilised RM4.73 billion in sustainable financing, representing 47% of its 2026 target.

    Asia Carbonx Change Plt, a Malaysia-based renewable energy solutions company, facilitates the creation, monetization and trading of Renewable Energy Certificates (RECs) that are internationally recognised. These certificates allow organisations to claim renewable electricity usage and offset Scope 2 emissions, reinforcing their sustainability credentials while supporting Malaysia’s clean energy transition.

  • Hong Leong Assurance launches HLA Legacy Wealth

    Hong Leong Assurance launches HLA Legacy Wealth

    Hong Leong Assurance (HLA) introduces HLA Legacy Wealth, a next-generation insurance solution designed to help individuals build, preserve, and pass on their wealth with clarity and care. The policy includes Loyalty Bonuses of up to 25% of the Basic Sum Assured, credited directly into the policy and compounded over time; the Lapse-Free Zone, a first-of-its-kind feature in Malaysia that ensures policy continuity beyond age 95 even in adverse market conditions; and the Death Benefit Settlement Options (DBSO), which allow policyholders to customise how and when their wealth is distributed.

    While wills, trusts and family offices remain essential components of estate planning, insurance continues to be one of the most widely adopted tools — offering both accessibility and structure. HLA Legacy Wealth complements these traditional instruments by providing a practical starting point for legacy planning.

    To enhance its investment potential, HLA Legacy Wealth offers access to a curated selection of funds, including the newly introduced HLA Strategic Global Equity Fund, managed by Hong Leong Asset Management in partnership with Amundi Singapore Limited — part of Amundi, Europe’s largest asset manager with over USD 2.7 trillion in assets under management (as at 30 June 2025). This global equity portfolio is designed to deliver medium to long-term capital growth.

    What truly sets HLA Legacy Wealth apart is its thoughtful approach to long-term financial security and legacy distribution. The Lapse-Free Zone offers true peace of mind in the later years of life, ensuring that the policy remains in force even when market conditions are unfavourable — a reassurance for those who want their legacy to endure without interruption. This feature reflects HLA’s commitment to protecting wealth not just during accumulation, but throughout the final stages of life.

  • WCT launches new CSR initiative

    WCT launches new CSR initiative

    WCT Holdings Berhad (WCT) has launched its latest CSR initiative, “Uniting Communities, Building the Nation” (Mengeratkan Komuniti Bersama Membina Negara), at Kampung Sungai Kembong Hilir, Kajang.

    Organised under WCTGives and guided by its pillars of #WeCareTogether and #EducationForAll, the initiative aims to revitalise the village’s balai raya and enhance facilities that support learning, social development, and community well-being.

    As part of the initiative, WCT contributed funds and volunteer support to refurbish the hall’s adjoining toilet, upgrade the badminton court into a multipurpose space, enhance the kitchen, and provide new tables, chairs, and a reading corner equipped with 300 books for local children. These improvements will enable the balai raya to once again serve as a venue for community meetings, cooking classes, tuition sessions, and recreational activities – fostering learning and connection across generations.

    The 80-year-old hall, which had been closed since 2017 due to ageing structures and roof damage, was recently restored by the Hulu Langat District Office and the local community. Building on these efforts, WCT’s contribution further strengthens the hall’s role as the heart of the village, benefitting the 2,000 residents in Kampung Sungai Kembong Hilir.

    In addition, WCT extended its support to 100 families from nearby villages – Kampung Sungai Kembong Hilir, Kampung Rinching Hilir, and Kampung Sungai Kembong Hulu by providing Kotak Rezeki packages containing essential groceries worth RM100 each.

    Launched in 2022, WCTGives embodies WCT’s commitment to balancing profitability with purpose — creating shared value for both business and society through its three core pillars: #WeCareTogether, #AGreenerTomorrow, and #EducationForAll.

     

  • XTransfer and Maybank announce strategic partnership

    XTransfer and Maybank announce strategic partnership

    XTransfer, the world’s leading B2B cross-border trade payment platform, and Maybank, a leading bank in ASEAN, are pleased to announce a strategic partnership to expand cross-border payment and Shariah-compliant solutions through an Memorandum of Understanding (MoU).

    Under the collaboration, XTransfer and Maybank will harness their respective strengths to deliver one-stop cross-border financial solutions, spanning domestic and cross-border payments and FX conversion, across key ASEAN markets, Hong Kong, United Kingdom and United States.

    The parties will leverage new technologies and innovations, including APIs, digital platforms, collection solutions, and virtual accounts, to enable automated, real-time, and seamless FX conversion and transaction processing, enhancing the scalability, efficiency, and reliability of cross-border financial services.

    Recognising the growing demand for Islamic finance-compliant services in ASEAN, XTransfer and Maybank will also explore and develop Shariah-compliant FX and payment offerings tailored to regional needs, broadening financial inclusion and meeting the evolving requirements of businesses seeking Shariah-compliant solutions.

    This comprehensive partnership deepens XTransfer’s Southeast Asia coverage and multi-currency settlement capabilities, while supporting Maybank’s strategy to strengthen its regional franchise and ecosystem connectivity.

    Bill Deng, Founder and CEO of XTransfer, said, “This collaboration with Maybank marks a significant step in elevating our services across ASEAN. With stronger local collection, FX conversion, and potential Shariah-compliant settlement capabilities, we will help businesses reduce costs, enhance cash flow, and improve transaction efficiency. We will continue to strengthen compliance and risk management to build a trusted cross-border financial infrastructure for our clients.”

    Dato’ Sri Khairussaleh Ramli, President and Group CEO of Maybank said, “Together with XTransfer, we can enable more seamless cross-border payments and collections with competitive forex rates for merchants engaged in ASEAN-China trade, and participate in the surging flows between the two regions—now each other’s largest trading partners. Total trade value is on track to reach USD1 trillion this year. This collaboration also opens opportunities to develop innovative solutions for businesses. With Maybank’s presence in the key ASEAN markets, we are truly well positioned to support their cross-border needs.”

  • New report warns boards of top risks in Southeast Asia for 2026

    As companies budgets and business plans for 2026, the latest global Risk in Focus 2026 Report by the Institute of Internal Auditors Inc. warns that boards must urgently strengthen governance to keep pace with fast-evolving risks.

    The report has outlined changes in top risks over the years in many regions, showing how cybersecurity, business resilience, disruptive technologies such as AI, and geopolitical volatility are converging into complex increasingly interconnected, challenging and intensifying.

    In the Risk in Focus 2026 Report’s regional deep-dives, Asia Pacific is highlighted as a fast-growing but risk-intensive region requiring urgent governance responses. Specially to Southeast Asia, the Report highlights that Cybersecurity (67%) tops the list as the number one threat, with AI, digital disruption, and data privacy expanding the attack surface. Business resilience (62%) comes second, reflecting the impact of tariff wars, supply chain shocks, and climate-related disruptions. The top two audit priorities for Southeast Asia (above 60%) mirror these threats.

    For Southeast Asia, these trends not only heighten exposure but also present an opportunity: organisations that invest in the right resources, skills, and internal audit capabilities today will be better positioned to build resilience, sustain growth, and protect stakeholder trust in the years ahead.
    However, while 52% of Southeast Asia survey respondents included digital disruption as a Top 5 risk – with AI reshaping competition and productivity, just 32% included it as a Top 5 audit priority. Many companies admit they lack the skills and frameworks to respond.

    This year, the annual global report surveyed over 4,000 senior internal audit leaders worldwide, including 159 respondents from Southeast Asia who represent organisations with significant operations in the region. The 2026 edition introduces a forward-looking outlook — not just a snapshot of current risks but a projection of what boards cannot afford to ignore in the next three years. It also integrates AI, green finance, and geopolitical fragmentation as cross-cutting themes, which were less pronounced in earlier reports.

    Malaysian Companies Under Pressure In 2026

    Some of these risks are already manifesting and weighing on organisations in Malaysia. In 2024, police reports point to cybercrime losses exceeding RM1 billion, and yet, only 2% say they are prepared. That’s a governance gap with real financial consequences. Meanwhile ESG compliance pressures are also mounting with IFRS S1/S2 alignment this year and Scope 3 reporting by 2027.

    Boards, therefore, cannot afford to de-prioritise these threats, and gaps between identified risks and internal audit coverage, particularly in areas such as cybersecurity, digital disruption and human capital which must be addressed with the appropriate control measures.

    In these, internal auditors can support leadership in anticipating risks, testing resilience and building confidence with stakeholders. What were once operational — have now become business survival issues, and internal auditors are empowered to guide boards through this era of polycrises.

    With organisations improving their resilience against “cascading failures”, The Institute of Internal Auditors Malaysia offers more than 90 training programs each year to elevate governance practices and foster a culture of transparency and accountability for businesses. IIAM recently launched the Statement of Risk Management and Internal Control (SORMIC) Guide 2025 with Bursa Malaysia which provides public-listed companies with a clear framework to strengthen disclosures, bolster investor confidence, and embed risk governance into their operations.

    Demand for internal audit upskilling is also rising sharply: with growing enrolment in IIAM’s 80 programmes.” Continuous professional development and staying abreast of emerging trends are key to enabling internal auditors to excel in their roles. The Institute is central to equipping professionals with the knowledge, skills, and ethical standards necessary to comply with Global Internal Audit Standards effectively.

     

  • Tiny footprints, Big impact on eco-tourism

    Tiny footprints, Big impact on eco-tourism

    Big Tiny was founded on a simple but ambitious purpose: enable people to rediscover the joy of simple living while protecting the landscapes that make these experiences possible. Since introducing its first tiny houses in Australia in 2017, the Singapore-born brand has grown across the region—including Malaysia—championing a model of tourism that treads lightly yet delivers enriching experiences.

    Sustainability was not an afterthought for Big Tiny. From the beginning, its founders set out to reimagine how people can experience travel by creating a model that reduces impact, restores balance and reconnects people with nature. This experience is made accessible through its Tiny Away booking platform, where travellers discover curated eco-conscious stays across the region.

    Tiny houses seamlessly blend with nature.

    Big Tiny believes that its products can assist in making better use of land, limit overdevelopment and offer a meaningful alternative to the resource-heavy, high-footfall model of mass tourism. The company does so via thoughtful systems including the way its tiny houses are built and deployed to how resources are managed, its partnership with landowners and engagements with the local communities. Every tiny house is built with light gauge steel, durable composite materials and modular construction to reduce waste. Across its global portfolio of more than 650 units, off-grid and hybrid models rely on solar energy, rainwater harvesting and composting systems, ensuring minimal disturbance to the land.

    “We view our efforts as part of an evolving commitment to operationalise sustainability and accountability, and we are confident that with consistency and improvements, a better tomorrow is within reach,” – Adrian, CEO and Co-Founder, Big Tiny.

    In 2025, Big Tiny advanced this promise by achieving Global Sustainable Tourism Council (GSTC) recognition for its Lazarus Island project, with more sites worldwide aiming for certification by 2026. Building on this achievement, Big Tiny is also working towards including its other global projects under the GSTC Industry Criteria for Hotels certification by 2026, for a consistent benchmark across its portfolio. Additionally, it has also initiated environmental impact assessments at Grampians Edge and Granite Belt in Australia.

    One with nature, sustainable living in tiny houses.

    Big Tiny’s impact extends beyond environmental stewardship as everywhere the brand sets foot in, it believes that local relevance and global consistency can co-exist. Its tiny houses support local economies by engaging over 1,200 stakeholders—from land hosts to owners—and partnering with 300 organisations. The company also collaborates with local artisans, brands, producers, merchants and landowners to infuse authenticity into each stay—whether through region-specific furnishings, community partnerships or curated experiences.

    Soon, the brand looks to strengthen its advocacy for regenerative tourism, as guests’ sustainability expectations continue to rise. Efforts in the pipeline include increasing its green procurement with a goal of ensuring at least 15% of materials come from recycled sources by 2030. Big Tiny is also exploring solar-wind hybrid systems that can generate power even at night which will increase the usage of natural sources by another 10%, come 2030. It is also exploring ways to adopt even more energy-efficient appliances to further reduce overall consumption.

    For Malaysia, Big Tiny looks to offer a sustainable alternative to traditional travel experience by activating underutilised rural or natural spaces, converting them into low-impact, eco-conscious getaways. With abundance of land and natural landscapes, Big Tiny sees vast potential for growth while simultaneously playing a role setting a benchmark for the country’s eco-tourism landscape and in time, shaping its regenerative tourism industry. Malaysians can also purchase entire tiny homes or share ownership, enjoying passive income from these sustainable stays.

    All tiny houses are listed for stays through Big Tiny’s Tiny Away platform (tinyaway.com), alongside other major booking sites.