Latest news with #AsiaMiles
The Star
5 days ago
- Business
- The Star
Trading ideas: TNB, IHH, Paramount, Zetrix AI, LGMS, Handal, Econpile, Ho Wah, PMCK
KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia. Tenaga Nasional Bhd has resolved a technical issue that had affected the display of July's electricity usage graph on its myTNB mobile application. IHH Healthcare Bhd is looking to potential new markets in Indonesia and Vietnam, as the Malaysian hospital operator continues building scale to offset rising healthcare costs in the region. Paramount Property Development Sdn Bhd, a wholly owned subsidiary of Paramount Corporation Bhd has partnered with Hong Kong-based Cathay Pacific Airways Ltd for a homeownership campaign named "Traverse with Paramount", offering Asia Miles to its homebuyers. Zetrix AI Bhd, formerly known as MyEG Services Bhd , has increased the size of its sukuk Wakalah programme to RM2bn in nominal value, doubling the original RM1bn. Zetrix said the sukuk will primarily support the continued growth of its blockchain and AI initiatives. Cybersecurity serve provider LGMS Bhd is proposing to acquire a 27% stake in information technology company Antarex Holdings Sdn Bhd for RM22.7mn. Handal Energy Bhd said on the group is being sued by a firm controlled by its former managing director and substantial shareholder Sunildeep Singh Dhaliwal, over an alleged outstanding debt of RM3.1mn. Construction firm Econpile Holdings Bhd has secured a RM27mn contract for piling and pile cap works for two 37-storey serviced apartment blocks in Kelana Jaya, Selangor. Ho Wah Genting Bhd has redesignated executive director Lim Wee Kiat as its chief executive officer, effective July 7. Private healthcare provider PMCK Bhd made a steady debut on the ACE Market of Bursa Malaysia, opening half a sen or 2.3% higher than its IPO price of 22 sen.
New Straits Times
6 days ago
- Business
- New Straits Times
Paramount, Cathay team up to reward homebuyers with Asia Miles
KUALA LUMPUR: Paramount Property Development Sdn Bhd, a wholly owned subsidiary of Paramount Corp Bhd, has partnered with Hong Kong's Cathay Pacific Airways Ltd for its latest homeownership campaign, Traverse with Paramount, which rewards buyers with Asia Miles points. Under this unique programme, homebuyers of more than eight participating developments located in Kuala Lumpur, Petaling Jaya, Klang, Cyberjaya, Sungai Petani, and Penang stand to earn up to 40,000 Asia Miles per purchase. The campaign runs from July 1 to December 31, 2025. "For property purchases ranging from RM300,000 to RM800,000, we are giving away about 10,000 miles to our customers, and for purchases of RM3 million and above, we will be giving out about 40,000 miles," Paramount Property chief executive officer Chee Siew Pin said. He added that the miles can be redeemed for flights with Cathay Pacific, HK Express, and other partner airlines in the Asia Miles network. Buyers can also use them for redemptions on Cathay Shop, which offers a wide selection of products and lifestyle rewards. To put it in perspective, a one-way economy flight to Hong Kong via Cathay Pacific typically requires about 9,000 Asia Miles, he noted. He emphasised that Traverse with Paramount is designed not only to celebrate a significant milestone in buyers' lives but also to reward them with opportunities to travel, experience new destinations, and create lasting memories, whether for a honeymoon, a family holiday, or a well-deserved getaway. The company is committing a total of eight million Asia Miles to this campaign, a reward pool that underscores its scale and ambition. Chee said the collaboration between Paramount Property and Cathay Pacific reflects the shared values of both companies. Together, Paramount Property and Cathay Pacific aim to elevate the meaning of homeownership by turning each property purchase into an opportunity for new adventures and unforgettable journeys. "The most important thing is the value both parties have. For the airlines, they want to connect people and offer safety and comfort. For us, the most important thing is customer experience. Ultimately, we wanted to have more involvement, helping out purchasers post-development." Chee added that the campaign is designed for a wide range of buyers, whether individuals, couples, or families, giving them the chance to use their miles for honeymoons or leisure trips, locally or abroad. Cathay Pacific's area head for Malaysia and Brunei, Robbie Blackwood, said that the partnership aligns well with Cathay's mission of delivering exceptional travel experiences. Blackwood added that buyers will also have the flexibility to combine miles with cash for redemptions. He said that if customers don't have the exact number of miles needed, they can simply top up with cash to complete a transaction. This gives them more freedom to redeem flights, hotel stays, lifestyle products, or any of the over 10,000 items available through the Cathay Shop, plus options with more than 20 partner airlines, he said.
TechCrunch
07-05-2025
- Business
- TechCrunch
Rove, founded by a 22-year-old, is helping Gen Z earn airline miles without credit cards
During his junior year study abroad, Max Morganroth, traveled to 30 countries, primarily flying in business and first class. His jet setting was funded almost entirely by airline points he collected through strategic credit card applications and miles redemptions. Morganroth told TechCrunch that just about everyone he knew was 'begging' him to teach them how to get free flights through airline miles programs, a term he calls travel hacking. However, most people in his circle, including fellow Wharton students, either didn't qualify for the best airline rewards credit cards or lacked the time to maximize their mile conversions for optimal flights. By marketing credit cards and sharing fees with banks, frequent flyer programs have become significant revenue generators for airlines. But according to Morganroth, about 70 million Americans don't have sufficient credit history to access these reward schemes. During his travels, Morganroth discovered that in Hong Kong people don't need to open credit cards to earn miles on Cathay Pacific's Asia Miles program. 'Miles there are treated like a second currency,' he said. 'You go to 7-Eleven to buy a water bottle; you earn Asia Miles. You can open a bank account and earn cash interest, plus miles on your savings. You can even sell a property for part cash, part miles.' Morganroth saw an opportunity to create a program similar to Asia Miles, where consumers could earn miles on various airlines when they shop in certain stores. His proposition to airlines was that they could tap into a larger consumer demographic, particularly Gen Z, a generation eager to travel but still lacking established credit. After graduating, Morganroth, now 22 years old, teamed up with Arhan Chhabra, a recent Harvard grad, and the duo set out to build Rove, a startup that claims to be the first universal mile loyalty program. Of course, it's not exactly the first and only. American Express's rewards program, for instance, lets users redeem points with multiple airlines And sites like Expedia offer points that can be used for various airline flights. But multi-airline programs are still a rarity. Techcrunch event Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Exhibit at TechCrunch Sessions: AI Secure your spot at TC Sessions: AI and show 1,200+ decision-makers what you've built — without the big spend. Available through May 9 or while tables last. Berkeley, CA | BOOK NOW Rove entered the Y Combinator's winter 2024 batch and proceeded to fly around the world, where they struck partnership deals with the mile programs of 11 airlines, including Air France-KLM, Aeromexico, Finnair, and Qatar Airways. These partnerships, which were previously only available primarily to credit card issuers of the major banks, helped Rove raise $2 million from investors including YC, General Catalyst, and Soma Capital. Rove's loyalty program allows airlines to expand the lucrative business of miles to millions more consumers, Mogranroth said. But instead of allowing airlines to share fees with credit cards, Rove gives them a way to make money through affiliate marketing with over 7,000 merchants through the Rove shopping extension for Google Chrome. That's a business model that's similar to Honey and Rakuten. Mogranroth explained that the points earned from shopping can be converted into airline miles, which hold more value than their equivalent in cash. In addition to the affiliate marketing scheme, Rove also offers its users miles for hotel bookings. In fact, Mogranroth said that the points from a $1,000 hotel stay could be worth a round-trip ticket to Europe from the United States, a flight that could then be used for the same trip, if the hotel booking is non-refundable. Hotel bookings are so valuable because some hotels share as much as 40% of their sales as commission. Instead of pocketing that profit, Rove gives all of its share of those earnings to the user in the form of miles. Users can combine Rove miles earned on hotel bookings with miles from the shopping extension and even credit card miles if they have a card that earns airline points. The startup's elaborate scheme may seem complicated, but Mogranroth says that earning miles through Rove is straightforward, as long as users book hotels on its platform or shop using the Rove shopping extension. When users are ready to book flights with their miles, Rove's travel portal helps them find the best award flight deals. And while Rove partnered with only 11 airlines, the startup's users can book award travel on about 140 carriers because it is often possible to transfer miles of one airline company to its affiliates in another region. Rove is available to anyone, but Morganroth believes its offering is the most attractive to young adults. 'Gen Z wants to travel more than any other demographic, yet they have the least access to the tools like this that actually make it cheaper,' he said. 'They no longer have to wait until they're 28, have five years of credit history and $700 free to get one of these cards; they can just download a Chrome extension, book any of their existing travel through us, and they'll immediately be in the game.'
Associated Press
24-03-2025
- Business
- Associated Press
Cathay expands lifestyle offerings in Southeast Asia with Mitsui Mall Group partnership in Malaysia
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 24 March 2025 - Premium travel lifestyle brand Cathay is strengthening its lifestyle presence in Southeast Asia through an exciting new partnership with Mitsui Mall Group in Kuala Lumpur. This collaboration opens up new ways for Cathay members to earn Asia Miles while shopping or dining at two popular retail hubs in Kuala Lumpur—Mitsui Outlet Park KLIA Sepang and Mitsui Shopping Park LaLaport BBCC. An elevated shopping experience with Asia Miles and limited-time rewards Effective immediately, Cathay members can earn 1 Asia Mile for every RM5 spent at both malls and enjoy exclusive mall privileges to elevate their shopping experience. Miles earned can be used to redeem flights with over 20 airline partners, more than 10,000 lifestyle products on Cathay Shop, and exclusive rewards and experiences with any of Cathay's 800 travel and lifestyle partners worldwide. To celebrate this partnership, Cathay members can enjoy double miles (2 Asia Miles for every RM5 spent) on all eligible spending from now until 31 May 2025. Additionally, new Cathay members can earn up to 1,000 Asia Miles—they will receive 300 bonus miles upon sign-up, and additional 700 miles after their first transaction. Exclusive mall privileges In addition to boosting their miles, Cathay members can unlock exclusive privileges at both malls. At Mitsui Shopping Park LaLaport BBCC, all Cathay members can access the Tourist Privilege Card, unlocking instant discounts, special offers, and exclusive rewards by presenting their Cathay membership at the Ground Floor information counter. Members who spend a minimum of RM300[1] will receive an exclusive luggage tag as a special gift. At Mitsui Outlet Park KLIA Sepang, Cathay members visiting Kuala Lumpur can register for a free Tourist Privilege Pass to enjoy additional discounts and privileges by presenting their passports at the information counter. Cathay Regional General Manager for Southeast Asia Dominic Perret said, 'At Cathay, we strive to seamlessly blend travel and lifestyle so that our members can earn miles through a variety of everyday activities, bringing them closer to their next flight, exclusive experience, or lifestyle reward. We are therefore delighted to partner with Mitsui Mall Group to offer our members even more ways to earn and redeem Asia Miles in Kuala Lumpur. In Southeast Asia, this marks another addition to our list of popular shopping malls where our members can earn rewards and enjoy exclusive privileges, alongside our existing partnership with Siam Piwat Group in Thailand.' For more details, please visit Cathay's website. Cathay's expanding shopping partner network This collaboration further strengthens Cathay's lifestyle ecosystem, allowing members to earn and redeem rewards beyond travel. Mitsui Shopping Park LaLaport BBCC and Mitsui Outlet Park KLIA Sepang in Kuala Lumpur join Cathay's lineup of other retail partners around the world, including: Mitsui Outlet Park Taiwan (Taiwan, China) Mitsui Shopping Park LaLaport Taichung (Taiwan, China) Mitsui Outlet Park (Japan) Lotte Duty Free Ginza (Japan) Siam Piwat Group (Thailand) Shinsegae Duty Free (South Korea) The Bicester Collection (Europe and China) With this growing network, Cathay members can seamlessly turn their shopping experiences into rewarding journeys. Beyond flights, Cathay's travel lifestyle offerings consist of a host of complementary categories—holidays, shopping, dining, wellness and payment, designed to bring customers exciting offers, rewards, and experiences with hand-picked partners. Discover the Cathay lifestyle here. [1] Terms and conditions apply. Hashtag: #Cathay
Zawya
24-03-2025
- Business
- Zawya
Cathay expands lifestyle offerings in Southeast Asia with Mitsui Mall Group partnership in Malaysia
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 24 March 2025 - Premium travel lifestyle brand Cathay is strengthening its lifestyle presence in Southeast Asia through an exciting new partnership with Mitsui Mall Group in Kuala Lumpur. This collaboration opens up new ways for Cathay members to earn Asia Miles while shopping or dining at two popular retail hubs in Kuala Lumpur—Mitsui Outlet Park KLIA Sepang and Mitsui Shopping Park LaLaport BBCC. An elevated shopping experience with Asia Miles and limited-time rewards Effective immediately, Cathay members can earn 1 Asia Mile for every RM5 spent at both malls and enjoy exclusive mall privileges to elevate their shopping experience. Miles earned can be used to redeem flights with over 20 airline partners, more than 10,000 lifestyle products on Cathay Shop, and exclusive rewards and experiences with any of Cathay's 800 travel and lifestyle partners worldwide. To celebrate this partnership, Cathay members can enjoy double miles (2 Asia Miles for every RM5 spent) on all eligible spending from now until 31 May 2025. Additionally, new Cathay members can earn up to 1,000 Asia Miles —they will receive 300 bonus miles upon sign-up, and additional 700 miles after their first transaction. Exclusive mall privileges In addition to boosting their miles, Cathay members can unlock exclusive privileges at both malls. At Mitsui Shopping Park LaLaport BBCC, all Cathay members can access the Tourist Privilege Card, unlocking instant discounts, special offers, and exclusive rewards by presenting their Cathay membership at the Ground Floor information counter. Members who spend a minimum of RM300[1] will receive an exclusive luggage tag as a special gift. At Mitsui Outlet Park KLIA Sepang, Cathay members visiting Kuala Lumpur can register for a free Tourist Privilege Pass to enjoy additional discounts and privileges by presenting their passports at the information counter. Cathay Regional General Manager for Southeast Asia Dominic Perret said, "At Cathay, we strive to seamlessly blend travel and lifestyle so that our members can earn miles through a variety of everyday activities, bringing them closer to their next flight, exclusive experience, or lifestyle reward. We are therefore delighted to partner with Mitsui Mall Group to offer our members even more ways to earn and redeem Asia Miles in Kuala Lumpur. In Southeast Asia, this marks another addition to our list of popular shopping malls where our members can earn rewards and enjoy exclusive privileges, alongside our existing partnership with Siam Piwat Group in Thailand." For more details, please visit Cathay's website. Cathay's expanding shopping partner network This collaboration further strengthens Cathay's lifestyle ecosystem, allowing members to earn and redeem rewards beyond travel. Mitsui Shopping Park LaLaport BBCC and Mitsui Outlet Park KLIA Sepang in Kuala Lumpur join Cathay's lineup of other retail partners around the world, including: Mitsui Outlet Park Taiwan (Taiwan, China) Mitsui Shopping Park LaLaport Taichung (Taiwan, China) Mitsui Outlet Park (Japan) Lotte Duty Free Ginza (Japan) Siam Piwat Group (Thailand) Shinsegae Duty Free (South Korea) The Bicester Collection (Europe and China) With this growing network, Cathay members can seamlessly turn their shopping experiences into rewarding journeys. Beyond flights, Cathay's travel lifestyle offerings consist of a host of complementary categories—holidays, shopping, dining, wellness and payment, designed to bring customers exciting offers, rewards, and experiences with hand-picked partners. Discover the Cathay lifestyle here. [1] Terms and conditions apply. Hashtag: #Cathay The issuer is solely responsible for the content of this announcement. Cathay
