Latest news with #MAG
Khaleej Times
6 days ago
- Business
- Khaleej Times
Innovative steps keeping Dubai's property sector on top of the world
Dubai's initiative on real estate tokenisation is expected to revolutionise the sector, as more investors can now enter the booming market, an expert said. 'Tokenized organization of properties is going to happen on a major scale in Dubai. TokeniSation will accelerate the pace of sale, because they will increase affordability. We've been collaborating for a long time with blockchain and virtual assets, which are basically an enhanced form of fractional ownership. It might soon be possible to invest in Dubai property probably at Dh100,' Imran Khan, CEO of Pixl Group, an off-plan real estate marketing agency, told Khaleej Times in an interview. Real estate tokenisation transforms real estate assets into digital tokens using blockchain technology. Each asset is divided into shares based on an investor's budget and financial strategy, enabling fractional property ownership. On March 19, the Dubai Land Department (DLD) launched the pilot phase of the Real Estate Tokenisation Project, which seeks to diversify property ownership by allowing multiple investors to co-own a single property through tokenised real estate assets. On cue with this initiative, in the world's largest real-world asset (RWA) tokenisation initiative to date, MAG, a leading UAE real estate developer, last week signed a $3 billion tokenisation agreement with MultiBank Group, the world's largest financial derivatives institution based in Dubai, and Mavryk, a leading blockchain innovator. The partnership will bring MAG's high-value real estate developments — The Ritz-Carlton Residences, Dubai, Creekside, which is part of the Keturah Resort, and Keturah Reserve — onto the blockchain, making them available to global investors. Khan does not see the Dubai property market slowing down anytime soon. Especially with the global economic uncertainty as a result of the tariff wars, investors are looking for safe havens to park their funds, and the emirate offers one of the safest investment horizons on the planet. 'I always say Dubai feeds Dubai. So as long as the developers of Dubai continue to launch, the brokers of Dubai have something new to sell and give their investors, and the investors have a reason to invest. A lot of overseas investors are now entering this market, as they are seeing buyer sentiment down in their home countries. Affordability is becoming low, prices are high, so the market has softened a lot in the UK, and India. In the US, everyone's just holding back. So all these players are now coming to Dubai,' Khan said. Pixl started in 2019 to service the off-plan real estate market. 'We initially used to do something very simple, which is generating leads for brokers. And these brokers, obviously, when they started selling on our leads, they were more confident, and they started introducing us to developers. Developers then partook of the services, and then we realized that there are some tech solutions that are needed, so we started doing CRMs, websites, which eventually led to branding, media buying, events and PR' Khan said. Over time, Pixl has evolved and now offers a full ecosystem for developers and brands in the Dubai property market. Pixl's evolution and success have not gone unnoticed. The agency has recently celebrated six years in the industry and was honored with multiple prestigious accolades, including the Region's Best Development Marketing at the International Property Awards 2024-2025, a Winner at the MEPRA Awards for its standout campaign on Franck Muller Aeternitas, and recognition as the 9th Fastest Growing Agency globally by ADWEEK. These awards mark Pixl's recognition as a powerhouse in real estate marketing, blending creativity, technology, and strategy. A key element in the UAE real estate market are the branded residences. The city itself is considered a brand, and it attracts global brands to collaborate on residential projects. However, Khan believes the brands who lend their names to residences need to think about delivering real value to the investor. 'I think branded residences will continue to flourish. However, developers need to very quickly realize that when they add a brand to a residential product, it must deliver some key value to the investor. Brand, for the sake of brand, will fade away soon, because investors are intelligent. They might buy a product today, but two, three years down the line when it is delivered, they will feel the value and impact the brand has,' Khan said. Pixl Group currently employs 130 people and expects to add another 100 by the end of this year. Beyond Dubai, the company is also looking at the Abu Dhabi market. 'We are definitely looking very aggressively at Abu Dhabi and Ras Al Khaimah, because we believe that Ras Al Khaimah is now, Abu Dhabi is tomorrow. So these markets definitely will be strong footholds for us. We are looking very aggressively at the US. We've already set up base there. I believe Miami will be a very strong market for us. I also feel that New York will be another market that we want to look at properly in parallel,' Khan said.
New Straits Times
7 days ago
- Business
- New Straits Times
AirBorneo begins hiring spree for senior roles before maiden flight in 2026
KUALA LUMPUR: Sarawak's ambitious new airline, AirBorneo Holdings Sdn Bhd (AirBorneo), is ramping up efforts to build a core leadership team as it prepares for take-off by 2026. Business Times has learnt that the up-and-coming carrier is recruiting several senior-level information technology (IT) roles, including Head of IT for several divisions. These include application management, operations and infrastructure, as well as security and compliance. All roles will be based at AirBorneo's headquarters in Kuching. The latest hiring push follows a similar move two months ago when AirBorneo began its search for a chief operations officer (COO). As at press time, AirBorneo has yet to officially announce its leadership team. The wave of high-level hiring comes amid expectations that the airline, backed by the Sarawak state government, will focus on enhancing regional connectivity, especially to underserved destinations across Borneo as well as regional cities. Details of AirBorneo's fleet and route strategies remain under wraps, although Sarawak Premier Tan Sri Abang Johari Tun Openg has previously said that the state wants to emulate the success of Dubai-based carrier Emirates. According to media reports, some of the international destinations that AirBorneo is eyeing include Bangkok, Hong Kong, Jakarta, Seoul and Frankfurt as the airline aims to operate as a full-service carrier. AirBorneo is a rebranding product of MASwings, following Sarawak's acquisition of the latter from Malaysia Aviation Group (MAG) through a sale and purchase agreement (SPA) signed between both parties on Feb 12, 2025. While financial details of the deal remain confidential for commercial reasons, Abang Johari described the acquisition as a key step in positioning Sarawak as a regional aviation hub. "By taking this strategic step, we are positioning and transforming Sarawak as an aviation hub for Borneo and a gateway to Asean," he said at the SPA signing ceremony. "This will open doors to new opportunities and fostering greater connectivity and accessibility to both domestic and international destinations that will benefit our local communities and businesses alike." Sarawak deputy minister for transport, Datuk Dr Jerip Susil recently said that the state is on track to finalise the acquisition by Dec 31. He said both AirBorneo and MAG are currently in the process of securing regulatory approvals from several aviation authorities. These include the Civil Aviation Authority of Malaysia (CAAM), the Malaysian Aviation Commission (Mavcom), the International Civil Aviation Organisation (ICAO) and the International Air Transport Association (IATA). The regulatory approvals are needed before the transaction can be completed. "The process also involves the transfer of operating assets from MAG to AirBorneo and preparations for a seamless transition of operations," Dr Jerip said during a State Assembly session on May 21. He also said that AirBorneo will continue to operate Rural Air Services (RAS) for remote areas in Sarawak and Sabah while all MASwings staff will be retained under the new entity. Earlier this month, Abang Johari led a high-level delegation to Airbus headquarters in Toulouse, France – a move industry sources said as laying the groundwork for AirBorneo and Sarawak's future aviation ambitions. The premier's visit was accompanied by Sarawak's deputy premier Datuk Amar Awang Tengah Ali Hasan, Sarawak Transport Minister Datuk Seri Lee Kim Shin, State secretary Datuk Amar Mohamad Abu Bakar Marzuki and other senior government officials. The visit was shared by Airbus executive vice president international, Wouter Van Wersch in a LinkedIn post. He described Sarawak as "a Malaysian state full of potential." Van Wersch highlighted Sarawak's focus on developing connectivity, digital infrastructure, and renewable energy, including sustainable aviation fuel (SAF) derived from algae oil and agricultural waste. "We at Airbus are already in talks on how Sarawak could contribute to powering the future of flight," he said in the post, adding that the state has plans to develop a 40ha integrated hub to support the aviation ecosystem. "We discussed which aircraft would be best suited to serve this growing hub and how Airbus could contribute with training facilities and programmes," he said without disclosing or hinting specific aircraft types that AirBorneo might be interested in. Industry sources said all eyes are on AirBorneo's next move, especially on its key leadership appointment, fleet announcement and its first confirmed regional or international route.
The Sun
21-05-2025
- Business
- The Sun
Malaysia Aviation Group achieves anti-bribery management system certification
PETALING JAYA: Malaysia Aviation Group (MAG) has officially become the first airline group in Malaysia to achieve the ISO 37001:2016 Anti-Bribery Management System (ABMS) certification, reinforcing its strong commitment to zero tolerance for bribery, fraud and corruption within the organisation. This milestone marks the fulfilment of a key governance commitment under MAG's environmental, social and governance (ESG) agenda. MAG managing director Datuk Captain Izham Ismail said, 'An effective anti-bribery system must be driven from the top. This certification is not just a formality, it is a firm declaration of our zero-tolerance stance against bribery, fraud and corruption. ISO 37001 reinforces the controls we have built into every part of our operations, from procurement and policymaking to how we engage with partners be it in Malaysia or our international offices. This certification clearly signals our commitment to conducting business with the highest standards of integrity and our accountability in addressing any instances of non-compliance promptly. 'Trust and governance are not optional – they are the foundation of a sustainable aviation business, and this milestone reaffirms our leadership in that space.' The certification process was supported by MAG's board of directors and group executive committee, and included a detailed corruption risk assessment, the formation of a dedicated working group committee, and the development of the ABMS framework. This was complemented by 16 training sessions, workshops, and awareness campaigns rolled out across key business functions to embed the principles of integrity throughout the organisation. The certification currently applies to group-level functions involving governance, risk, compliance, sustainability and leadership, with controls in place to manage bribery risks across high-impact areas such as procurement, vendor engagement, and third-party interactions.
The Star
21-05-2025
- Business
- The Star
Malaysia Aviation Group receives ISO certification for anti-bribery system
MAG Group managing director Datuk Captain Izham Ismail — ART CHEN/The Star KUALA LUMPUR: Malaysia Aviation Group (MAG) has become the first Malaysian airline group to achieve the ISO 37001:2016 Anti-Bribery Management System (ABMS) certification. According to the International Organization for Standardization (ISO), the certification is an internationally recognised standard for the implementation of anti-bribery management systems within an organisation. MAG said in a statement the certification currently applies to group-level functions involving governance, risk, compliance, sustainability, and leadership, with controls in place to manage bribery risks across high-impact areas such as procurement, vendor engagement, and third-party interactions. "An effective anti-bribery system must be driven from the top. This certification is not just a formality—it is a firm declaration of our zero-tolerance stance against bribery, fraud, and corruption. "ISO 37001 reinforces the controls we have built into every part of our operations, from procurement and policymaking to how we engage with partners be it in Malaysia or our international offices," said MAG group managing director Datuk Captain Izham Ismail. MAG's certification process was strongly supported by its board of directors and group executive committee, and included a detailed corruption risk assessment, the formation of a dedicated Working group committee, and the development of the ABMS framework. This was complemented by 16 training sessions, workshops, and awareness campaigns rolled out across key business functions to embed the principles of integrity throughout the organisation. MAG also operates a publicly accessible whistleblowing platform, providing a safe and confidential channel for reporting suspected misconduct. Within the organisation, the Group Business Integrity unit currently has two Certified Integrity Officers (CeIOs), with plans to certify more personnel across departments to ensure the ABMS is sustained and embedded throughout the Group. The group now aims to progressively expand the certification scope to include other business pillars and entities, with the goal of fostering a business ecosystem grounded in integrity and ethical conduct across all touchpoints.
Daily Express
21-05-2025
- Business
- Daily Express
Sarawak to finalise MASwings acquisition by December 31, paving way for AirBorneo expansion
Published on: Wednesday, May 21, 2025 Published on: Wed, May 21, 2025 By: Bernama Text Size: Following the signing of the Sale and Purchase Agreement (SPA) between AirBorneo Holdings Sdn Bhd and Malaysia Aviation Group (MAG) last February, both parties are currently working to fulfil the necessary conditions precedent before the transaction can be completed. — Picture from Facebook/MASwings KUCHING: Sarawak is on track to finalise the full acquisition of MASwings Sdn Bhd by Dec 31 this year, marking a significant milestone in the state's efforts to strengthen regional air connectivity through its airline, AirBorneo. Sarawak Deputy Minister for Transport, Datuk Dr Jerip Susil, said following the signing of the Sale and Purchase Agreement (SPA) between AirBorneo Holdings Sdn Bhd and Malaysia Aviation Group (MAG) last February, both parties are currently working to fulfil the necessary conditions precedent before the transaction can be completed. 'This includes securing regulatory approvals from key aviation authorities such as the Civil Aviation Authority of Malaysia (CAAM), the Malaysian Aviation Commission (MAVCOM), the International Civil Aviation Organisation (ICAO) and the International Air Transport Association (IATA). 'The process also involves the transfer of operating assets from MAG to AirBorneo and preparations for a seamless transition of operations,' he said during the question-and-answer session at the State Assembly sitting today. Dr Jerip was responding to a question from Datuk Seri Wong Soon Koh (GPS-Bawang Assan) whether the acquisition process of buying over MASwings has been completed and would the change in ownership disrupt the operation of the Rural Air Services (RAS). The deputy minister said, despite the change in ownership, the RAS network which serves remote and underserved areas in Sarawak and Sabah, is expected to maintain its current schedule, frequency and coverage. Advertisement 'MASwings' entire workforce will be retained, and their experience will be instrumental in maintaining operational stability and service continuity during and after the transition,' he said. Responding to Wong's supplementary question, Dr Jerip said the current interim RAS agreement between the federal government and MASwings Sdn Bhd that was signed on Dec 19, 2024, will remain in force until its expiry this Dec 31. Meanwhile, Sarawak Transport Minister Datuk Seri Lee Kim Shin said the state, together with AirBorneo, is engaging with the Malaysia's Transport Ministry, relevant federal agencies and other key stakeholders to work out on the terms and conditions of a new RAS agreement. He said this is to ensure a continued and uninterrupted air connectivity to the rural and remote communities in Sarawak and Sabah. 'This agreement includes that the Federal government continues to subsidise RAS because there will be new terms and conditions with AirBorneo,' he said when met by reporters at the sidelines of the sitting. * 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
