Latest news with #Berjaya
The Star
18 hours ago
- Business
- The Star
U Mobile launches ULTRA5G at Berjaya Times Square, boosts in-building 5 G coverage
KUALA LUMPUR: U Mobile Sdn Bhd today launched its latest in-building coverage (IBC) service, ULTRA5G, designed to deliver robust and consistent 5G experience across both indoor and outdoor environments. Its chief technology officer, Woon Ooi Yuen, said the company is committed to equipping a total of 170 buildings with ULTRA5G coverage within the next year, and up to 600 buildings in the next four years. "This launch marks the beginning of U Mobile's 5G next-generation network rollout, going live with deployment targets set to reach 80 per cent coverage of populated areas (CoPA) by the second half of 2026. "We have already installed the ULTRA5G in more than 70 buildings currently, and the first to go live today is the Berjaya Times Square mall, which is also our headquarters," he said at the launching event today. Apart from Berjaya Times Square, the telecommunication company's 5G network coverage has also been made available at Penang Bridge 1, connecting the full length of the bridge with only two towers, delivering a seamless connectivity experience for daily commuters. "Once we achieve 80 per cent CoPA with ULTRA5G within one year, we will shift our focus toward reaching the next target of 90 per cent CoPA, which will include rural areas across the country," Woon added. He also noted that U Mobile plans to provide regular updates on ULTRA5G availability, with rapid network deployment aimed at covering strategic locations such as airports, hospitals, convention centres, and other high-impact indoor and outdoor areas nationwide. "This is in line with the company's commitment to delivering the widest and deepest 5G network in Malaysia. With deployment progressing ahead of schedule, U Mobile is also doubling down on indoor coverage to ensure a seamless and consistent 5G experience across the country,' he said. - Bernama
New Straits Times
20 hours ago
- Business
- New Straits Times
U Mobile rolls out ULTRA5G in-building service
KUALA LUMPUR: U Mobile Sdn Bhd today launched its latest in-building coverage (IBC) service, ULTRA5G, designed to deliver robust and consistent 5G network across both indoor and outdoor environments. Its chief technology officer, Woon Ooi Yuen, said the company is committed to equipping a total of 170 buildings with ULTRA5G coverage within the next year, and up to 600 buildings in the next four years. "This launch marks the beginning of U Mobile's 5G next-generation network rollout, going live with deployment targets set to reach 80 per cent coverage of populated areas (CoPA) by the second half of 2026. "We have already installed the ULTRA5G in more than 70 buildings currently, and the first to go live today is the Berjaya Times Square mall, which is also our headquarters," he said at the launching event today. Apart from Berjaya Times Square, the telecommunication company's 5G network coverage has also been made available at Penang Bridge 1, connecting the full length of the bridge with only two towers, delivering a seamless connectivity experience for daily commuters. "Once we achieve 80 per cent CoPA with ULTRA5G within one year, we will shift our focus toward reaching the next target of 90 per cent CoPA, which will include rural areas across the country," Woon added. He also noted that U Mobile plans to provide regular updates on ULTRA5G availability, with rapid network deployment aimed at covering strategic locations such as airports, hospitals, convention centres, and other high-impact indoor and outdoor areas nationwide. "This is in line with the company's commitment to delivering the widest and deepest 5G network in Malaysia. With deployment progressing ahead of schedule, U Mobile is also doubling down on indoor coverage to ensure a seamless and consistent 5G experience across the country," he said.
The Sun
5 days ago
- The Sun
Berjaya Langkawi Resort: Where Rainforest Meets the Sea
Nestled between the emerald waters of the Andaman Sea and the lush ancient rainforest of Langkawi Island, Berjaya Langkawi Resort offers a truly unique escape where luxury meets nature. Whether you're a couple seeking a romantic getaway, a family on vacation or an adventurer in search of outdoor thrills, this award-winning resort has something unforgettable for everyone. A Breathtaking Natural Setting Imagine waking up to the gentle rustle of rainforest trees or the sound of waves lapping below your water chalet. Berjaya Langkawi Resort is beautifully set within a 70-acre rainforest, home to exotic flora and fauna, with panoramic views of Burau Bay. It's not uncommon to spot dusky leaf monkeys, hornbills and flying lemurs as you stroll the resort's wooden walkways. The resort offers seamless access to both rainforest and sea, allowing guests to truly immerse themselves in Langkawi's unparalleled natural beauty. Unique Water Chalets & Rainforest Villas The Resort is famous for its overwater chalets, a rare find in Malaysia. Perched above the tranquil sea, these chalets blend traditional Malay architecture with modern luxury. Wake up to sunrise views over the bay, enjoy a glass of wine on your private balcony or watch the sunset paint the sky in shades of gold. Prefer to be wrapped in greenery? The Rainforest Chalet and Studio are nestled within the jungle, offering privacy, serenity and the soothing sounds of nature. Dining With a View Berjaya Langkawi Resort presents a rich and diverse culinary landscape, with eight distinct restaurants and bars poised to satisfy every craving. At Beach Brasserie, guests can enjoy beautifully presented Western cuisine right beside the private beachfront, ideal for breakfast, lunch or dinner. Dayang Café serves a mix of Malaysian and international dishes, buffet spreads with live‑cooking stations plus à la carte options for all-day-dining. For fine Cantonese fare in an Asian‑inspired décor, head to Oriental Pearl. Pahn Thai Restaurant, built on stilts over water, offers exquisite Thai cuisine with stunning views of the Andaman Sea and Mount Mat Chinchang. Meanwhile, outlets like the Lobby Lounge, Rimba Sports Bar, Poolside and Boat House Bar offer snacks, cocktails, live sports, laid‑back ambience and poolside refreshments. Whether craving local street fare, international classics, fine dining or casual drinks by the sea, the Resort offers a dining experience that immerses guests in a gastronomic journey reflective of the island's vibrant flavours. Fun for All Ages Being a family-friendly destination that caters to travellers of all ages, The Little Monkey Club, children's pool, playground and family-sized accommodations make it a hassle-free option for parents. Nature walks, cycling and fauna spotting tours are engaging for younger guests while still entertaining for adults. Recreation & Adventure With extensive recreational options, guests enjoy seawater adventures like jet‑skiing, parasailing, kayaking, island‑hopping, banana boat rides, mangrove kayaking, jungle trekking, bird watching, beach volleyball, pickleball, cycling, gym access and tours including night safari mangrove tour. An Oasis of Wellness: Taaras Spa No visit to Berjaya Langkawi Resort is complete without a session at the award-winning Taaras Spa. Surrounded by rainforest and inspired by ancient Asian healing traditions, the spa offers massages, facials, body treatments and holistic therapies using natural ingredients. It's the perfect way to relax, unwind and reconnect with yourself during your stay. A Premier Island Retreat for Business & Leisure Events Apart from being a private and tranquil island paradise for a rejuvenation escapade, Berjaya Langkawi Resort has always been regarded as one of the finest destinations for various business and leisure events, and is also the preferred venue for Meetings, Incentives, Conventions & Exhibitions (MICE) in Malaysia. Boasting a pillarless ballroom on the island that hosts up to 900 persons with 8 other individual meeting rooms, the Resort is an ideal venue for just about any and every occasion on your calendar. Events can also be arranged at the beautiful and serene private beach. Escape to Berjaya Langkawi Resort With its blend of luxurious comfort, awe-inspiring nature, thrilling recreation and family-friendly atmosphere, Berjaya Langkawi Resort is not just a destination, it is an experience. Come and discover why it remains one of Malaysia's most beloved tropical escapes. For more information, visit
CNA
06-08-2025
- Business
- CNA
Prudential strikes deal to end 6-year court battle with Malaysian partners, including tycoon Vincent Tan
KUALA LUMPUR: British insurance giant Prudential has reached an out-of-court settlement on a long-running shareholding dispute with its erstwhile partners in Malaysia, led by businessman Vincent Tan Chee Yioun of the Berjaya group of companies and including members of Johor's royal household. Financial executives and lawyers close to the deal told CNA that under a complex multi-million dollar settlement plan reached last week, the insurer is set to acquire an additional 19 per cent equity in Prudential Assurance Malaysia Berhad (PAMB) from a Tan-led Malaysian company called Detik Ria. The proposed deal, which still requires regulatory approval from Malaysia - including from the Ministry of Finance and Bank Negara Malaysia, the country's central bank - will see Prudential increase its holdings in PAMB to 70 per cent, up from 51 per cent. Prudential and Detik Ria have been locked in a legal battle in Malaysia since 2019 over a dispute on their PAMB shareholdings and more recently, over dividend payments. Detik Ria will retain the remaining 30 per cent interest in PAMB following the proposed sale to Prudential. Detik Ria has begun talks with local institutional investors with the view to exit its equity interest completely from PAMB, the financial executives and lawyers added. Pricing details remain sketchy, but two financial executives told CNA that the deal between Prudential and Detik Ria, which also features an out-of-court settlement of the shareholders' dispute over dividend payments, could amount to over RM850 million (US$201 million) in total for Berjaya's Tan and his partners. 'This deal will end all litigation and both parties have resolved all matters to the joint venture,' said one senior financial executive close to Berjaya's Tan. Malaysian media have reported on the shareholder dispute previously, but not on the latest settlement and the planned disposed of the equity interest by Detik Ria in PAMB. Tan declined official comment for this article, but financial executives close to the businessman said that an announcement would be made after the Malaysian regulatory approvals are obtained. Executives of Prudential also did not respond to CNA's queries regarding the company's plan to raise its interest in PAMB to 70 per cent, which is the maximum foreign entities can own under rules set by the Malaysia government. If approved, the deal will give the multinational company firmer control over its Malaysian operations vested in PAMB. A senior Prudential executive from the company's headquarters in London did hint at a complete settlement to the fight with Detik Ria when contacted by CNA last week. 'This is the end of it,' the executive said in a terse mobile-chat message, referring to the long-drawn court battle. Prudential had filed a lawsuit in Malaysia against Detik Ria in 2019 over a shareholding dispute. This stems from a move by Detik Ria in 2018 to rescind an earlier agreement it entered with Prudential in 2008 to sell its entire interest in PAMB. By the time Detik Ria sought to back away from the sale, the company led by Tan had already received roughly RM109 million of the total disposal price tag of RM114 million. Prudential's suit sought to enforce the disposal agreement by Detik Ria and the insurer subsequently received judgments in its favour from Malaysia's High Court and Court of Appeal. However, the Federal Court, Malaysia's apex judicial institution, ruled in July 2024 that the agreement was not valid without the approval from the Ministry of Finance. In April, Prudential filed for a review of this ruling claiming procedural illegality and denial of justice, but this final bid for full ownership of PAMB was rejected by a different Federal Court panel of judges in June. Meanwhile, Detik Ria filed a fresh suit in late April against Prudential seeking a settlement of US$833 million over disputed dividend payments for its equity in PAMB. But this dividend payment dispute was also resolved last week, with Prudential announcing last Thursday (Jul 31) that it will pay US$83 million to Detik Ria as settlement. The insurer also agreed to waive a US$33 million debt owed by Detik Ria under the settlement agreement, which Prudential said in a statement represents a 'full and final' resolution to the Malaysian firm's April suit filed in the High Court. 'The settlement of this case does not impact Prudential's control in respect of PAMB and its operations, nor does it affect our service commitment to our customers,' the Prudential statement added. It is unclear why Detik Ria settled for roughly 10 per cent of what it was demanding in its legal action. CENTURY-OLD PRESENCE AND CONVOLUTED CORPORATE SETUP The agreement between Prudential and Detik Ria ends one of the longest and closely scrutinised corporate battles in recent history in Malaysia because of legal uncertainties and questions over regulatory complexities it raised on cross-border joint ventures. Prudential, which is listed in the United Kingdom and Hong Kong stock markets, began operations in what was then known as Malaya in 1924, before the country's independence in 1957. In 2002, the company opted to firmly establish its roots in Malaysia by entering into a joint venture with Detik Ria to comply with the local shareholding guidelines under Malaysia's New Economic Policy. The 20-year policy, which began in 1970, essentially called for at least 30 per cent of the nation's corporate equity to be in the hands of bumiputras - defined as races indigenous to Malaysia and primarily ethnic Malay. After its expiration in 1990, the policy was replaced by other programmes favouring ethnic Malays in areas of education, senior civil service positions and access to economic opportunities. Prudential settled for one of Malaysia's most politically well-connected businessmen, Berjaya's Tan, as its partner. At the time, Tan, who left school at 16 to become a bank clerk by day and part-time life insurance by night, had established himself as a highly influential businessman during the more than two-decade premiership of Mahathir Mohamad that began in 1981. Berjaya was by then one of Malaysia's largest conglomerates with diversified interests in property, hospitality, gaming, telecommunications and consumer marketing. Tan continues to lead the company, which recently secured rights to roll out Malaysia's second 5G mobile network. Like most corporate deals that are structured to navigate the many complexities of local shareholding requirements, the Prudential-Detik Ria setup was convoluted. According to court filings widely reported in the Malaysian media, both parties set up a private firm known as Sri Han Suria that would act as holding company for PAMB. Prudential held a controlling 51 per cent interest in Sri Han Suria, while Detik Ria, which is led by Tan and has nine other shareholders with close ties to the businessmen, held the remaining 49 per cent. Another prominent shareholder in Detik Ria is Persada Majestik, a private company wholly owned by Tunku Tun Aminah Sultan Ibrahim, the daughter of Malaysia's King Sultan Ibrahim Sultan Iskandar. Sultan Ibrahim is also the head of the Johor royal household. OTHER FOREIGN PLAYERS According to international analytics firm Global Data, Malaysia's general insurance industry is forecast to grow at a compound annual growth rate of 7.8 per cent from RM22.6 billion in 2024 to RM30.5 billion in 2028, in terms of direct written premiums. The sector has also long been dominated by foreign players and regulator Bank Negara has been pushing for a consolidation of the industry through mergers with local players since the late 1980s. Two of the country's largest players, AIG and Great Eastern Group, remain wholly owned entities of their United States and Singapore corporate parents respectively. They have long resisted complying with the shareholding caps, which require a minimum of 30 per cent local participation that Bank Negara, Malaysia's central bank, has been trying to enforce, though it grants exemptions on a case-by-case basis. One reason that these groups have managed to temporarily fend off shareholder restructuring efforts is simply because there are not many companies apart from large government-owned institutions that have the financial heft to take on the role as partners. Insurance industry executives say that both AIG and Great Eastern have also long insisted in their private consultations with the government that their licences to operate in Malaysia pre-dated the New Economic Policy. Newer entrants to the Malaysian insurance market have generally complied with the restructuring initiative.
Daily Express
09-06-2025
- Business
- Daily Express
Purpose Sabah GLCs set up defeated
Published on: Monday, June 09, 2025 Published on: Mon, Jun 09, 2025 By: David Thien Text Size: Former Sabah Law Society President Datuk Roger Chin (left) and a retired banker Datuk John Lo. Kota Kinabalu: Sabah's Government-linked companies (GLCs) should be profit-centres earning billions in ringgit for Sabah. As economic force multipliers they should be providing high income jobs to thousands of Sabahans as they embark on down-streaming for export. If successful, they could be listed on Bursa Malaysia to raise development funds. Advertisement That was the ideal situation envisioned by former Chief Minister Tan Sri Harris Salleh when he initiated the set-up of many Sabah GLCs during the Berjaya administration. Subsequent Sabah Governments proliferated many more GLCs, with little consideration of their economic purposes or roles. Mostly to give perks to political warlords and cronies. Good governance was thrown out of the window. The result is some 250 GLCs today, most of which are poorly managed and bleeding millions of ringgit. Advertisement The present State Government's placement of more professionals in the management of GLCs in an attempt to reform and turn around loss-making GLCs is in the right direction, according to retired banker Datuk John Lo. He shared his opinions in a 'Sabah Voices to Action' podcast with former Sabah Law Society President Datuk Roger Chin with Kopi Tiam Council hosts Adi and Haffisz organised by NGO Sabar recently on 'Economic Imperative on Stringent Governance for Sabah's GLCs'. 'I always feel we Sabahans are our biggest enemies because people who have been put in trust are not doing their job,' Lo said Harris used GLCs to propel the boom during the Berjaya government, instead of just using government departments. 'One of the main reasons being GLCs are very private sector driven and should be able to help Sabah develop faster. During his (Harris) time, the GLCs generally speaking did a very good job. 'There was a big boom.' Lo, who is an advisor to the State government in his role in the Sabah Economic Advisory Council (SEAC) and in the Institute of Development Studies (IDS). Lo recalled how Harris started a number of GLCs when he became Chief Minister. Harris' intention was that these GLCs would help to expedite the development of Sabah. To a large extent, Harris succeeded. Sabah became No. 2 state in Malaysia, after Selangor. Since he left office, Sabah has become No.2 from the bottom. Some of the GLCs that Harris created include Sabah Gas, Sabah Energy, Sabah Methanol, Asean Supply Base, Sabah Air, Sabah Forest Industries (SFI), Tanjong Aru Beach Hotel or TABH [now Shangri-La Tanjong Aru Resort], Labuan ShipYard, Sabah Hot Briquetted Iron, KPI, SUDC, Sabah Cement Industries. Significantly, Harris also gave birth to three financial institutions – Sabah Development Bank, Sabah Bank and Sabah Finance. Unique because no other state has ever been granted approval for three financial institutions bearing the name of the state. GLCs dominate every important economic sector in Sabah. GLCs are in effective control of many natural resources: mining/minerals [SMM], timber and FMU [Innoprise, Safoda]. 'The GLCs have been given the most valuable lands in Kota Kinabalu. All the commercial lands were given to the GLCs for a mere RM1,000. 'And then they go and JV (joint venture) with somebody and today a particular GLC is insolvent, instead of making billions. The GLCs are in control of a lot of our assets from oil palm plantations which are worth in the billions, with monopolies like Cement Sabah etc. 'Every aspect of our economic life, we have some GLCs involved,' Lo revealed. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
