Arc’teryx Names First Chief Brand Officer, Appoints EMEA General Manager

 

Avery Baker, Chief Brand Officer 

KUALA LUMPUR, Jan 28 (Bernama) -- Arc’teryx Equipment, the design company specialising in technical high-performance apparel and equipment, has appointed Avery Baker as its first Chief Brand Officer, a newly created executive role that marks a significant step in the company’s global evolution.

In a statement, the company also announced the appointment of Tobia Prevedello as General Manager, Europe, the Middle East and Africa (EMEA), bringing more than 20 years of international leadership experience across EMEA and Asia Pacific (APAC).

Reporting to Chief Executive Officer Stuart Haselden, Baker will lead global brand strategy, marketing, communications and the development of a consumer experience team, as Arc’teryx continues to expand across North America, EMEA, APAC and Greater China.

Haselden said Baker’s appointment represents a defining moment in the company’s growth journey, strengthening brand expression and deepening connections with both existing and new consumers worldwide.

Separately, Haselden said Prevedello, who will oversee regional strategy and operations in EMEA, has a track record in building high-performing teams and driving sustainable growth that will support Arc’teryx’s continued investment in the region.

Most recently, Prevedello served as Managing Director for EMEA at CELINE (LVMH), where he led regional business strategy and performance.

The appointments follow several recent senior leadership additions, including Matt Bolte as Chief Merchandising Officer, Marissa Pardini as General Manager of Veilance, and Ben Stubbington as Creative Director of Veilance, as Arc’teryx strengthens its global leadership team.

-- BERNAMA

KLCCP Stapled Group closes strong with RM719 million Profit Before Tax in Quarter 4, 2025

 KUALA LUMPUR, Jan 30 (Bernama) -- KLCCP Stapled Group (the Group) closed 2025 on a strong note, delivering its highest Profit Before Tax (PBT) and revenue since listing.   PBT (including fair value adjustments) rose to RM718.7 million in quarter four, 2025 compared to RM476.4 million in quarter four, 2024, while revenue grew 7.4% to RM493.0 million for the quarter ended 31 December 2025, reflecting continued resilience across all business segments.

This growth was supported by a noteworthy fair value gain of RM460.1 million, recognised during the quarter, reflecting the market value uplift largely in Suria KLCC and PETRONAS Twin Towers.  Building on this, the Group declared a dividend of 19.10 sen per stapled security for the quarter, bringing total dividends for the year to 47.00 sen, an increase of 5.6% compared to 2024.

Quarter 4, 2025 vs. Quarter 4, 2024 - Sustained Momentum Driving Strong Performance Gains

Representing the retail segment, Suria KLCC and the retail podium of Menara 3 PETRONAS sustained its positive momentum for the final quarter, delivering revenue of RM148.2 million, an increase of 6.1% from RM139.6 million.  PBT for this segment stood at RM112.9 million, reflecting an increase of 4.9%.  This was driven by sustained occupancy at 98%, supported by an expanded tenant-mix, featuring refreshed offerings and unique concepts, creating  a vibrant retail environment.

The hotel segment, represented by Mandarin Oriental, Kuala Lumpur (MOKUL Hotel), reported lower revenue at RM66.5 million.  Despite the softer revenue, PBT achieved a record high of RM11.4 million, an increase of RM5.9 million.  This is attributed to higher room revenue and reduced financing costs.  Room revenue remained the primary revenue contributor supported by group and leisure stays and high occupancy during the ASEAN summit. 

The office segment comprising the PETRONAS Twin Towers, Menara 3 PETRONAS, Menara ExxonMobil, and Menara Dayabumi remained stable, backed by the Triple Net Lease (TNL) arrangement and long‑term leases.  The segment recorded a revenue of RM145.9 million while PBT stood at RM121.7 million for the current quarter.
 
The management services segment recorded significant growth with increased revenue of 23.2% to RM154.5 million while PBT rose to RM28.1 million, driven by planned maintenance activities and higher car park income. 
 
Year-To-Date: 2025 Performance
 
Year-to-date, the Group demonstrated its solid financial standing, ending the year with a record high revenue of RM1.7 billion. The fair value gains on investment properties further contributed to the increase in PBT of RM1.4 billion, reflecting its continued strength driven by asset quality and operational stability.
 
The year saw the retail segment achieve a PBT of RM450.9 million, up 2.8% while footfall grew by 9%.  This growth reflects Suria KLCC’s continuous efforts in curating a dynamic mix of flagship and first-to-market brands, complemented by immersive and experiential activations designed to surprise and delight.  Suria KLCC brought onboard 30 new tenants during the year, including 8 market firsts with the likes of Smith & Wollensky, Charles Tyrwhitt, Mardi Mercredi, Byredo, Flying Tiger Copenhagen, and Mon Chinese Roti.  It’s high-impact experiential programmes including the Kuala Lumpur Fashion Week 2025, the signature Suria KLCC Picnic in the Park, and Malaysia’s first outdoor festive skating rink during the Christmas season has overall contributed to the growth, reinforcing Suria KLCC’s positioning as a leading lifestyle and experiential destination.
 
In the hospitality segment, MOKUL Hotel strengthened its event-led proposition through the refresh of its pillarless Grand Ballroom.  Since the ballroom reopening, MOKUL Hotel has seen a healthy pickup in demand, especially from the Meetings, Incentives, Conferences and Exhibitions (MICE) bookings,  supported by a stronger pipeline of premium corporate and social events.  October recorded the strongest month with the highest monthly revenue, driven by ASEAN Summits and high profile events.
 
Chief Executive Officer, Datuk Sr. Mohd. Salem Kailany commented, “The Group’s strong results in 2025 reflects the strength of our diversified portfolio, stable cash flows and disciplined capital management. The Group delivered another record-breaking performance with revenue, profit and dividends, which reached new highs.  During the year, we undertook targeted asset enhancements to maintain competitiveness and to future-proof our asset portfolio and improve long-term efficiency.  These upgrades, together with system improvements across facilities, strengthened our asset performance, enhanced operational reliability and customer experience.  Collectively, these efforts contributed to increase in property valuations and reinforced the long-term value and resilience of our  assets.”
 
Datuk Salem further added, “As we step into 2026, we remain focused on advancing our strategic priorities, strengthening our core businesses, and driving long‑term value for our shareholders.  With Visit Malaysia Year ahead of us, we look forward to the opportunities with optimism and confidence.”
 
Prospects
 
Malaysia enters 2026 with steady economic momentum.  At the same time, the operating environment is becoming increasingly competitive with new malls and hotels entering the market.  The Group remains attentive to these dynamics as it navigates the evolving retail, hospitality and office sectors, and strives to consistently maintain and elevate service excellence and customer experience within the KLCC Precinct.
 
The retail and hospitality segments are expected to benefit from tourist arrivals in conjunction with Visit Malaysia Year 2026.  Suria KLCC’s  strong brand presence, well-curated tenant mix and continued focus on enhancing experiential shopper engagement will continue to boost footfall and tenant sales.  MOKUL Hotel continues to strengthen its market positioning by enhancing offerings and delivering elevated guest experience through high quality, personalised services for both leisure and corporate guests, supported by the completion of the grand ballroom refurbishment and the upcoming apartments renovation. 
 
The office segment maintains a strong footing anchored by the Triple Net Lease arrangement and long-term leases with quality tenants.  The Group will also continue to amplify placemaking across the integrated KLCC ecosystem through strategic collaborations, events and activations that enhance connectivity, vibrancy and cross traffic, reinforcing KLCC The Place as a premier destination for business, leisure and MICE.

About KLCCP Stapled Group

KLCC Property Holdings Berhad (KLCCP) and KLCC Real Estate Investment Trust (KLCC REIT), collectively known as KLCCP Stapled Group, is Malaysia’s largest self-managed stapled security that invests, develops, owns, and manages a stable of iconic and quality assets.  KLCCP Stapled Group became the first ever Shariah compliant stapled structure in Malaysia upon the listing of KLCC Stapled Securities (KLCCSS) on 9 May 2013 and trades under the REIT sector of the index as a single price quotation.

KLCCP Stapled Group’s core business is in property investment and development, and provision of management services. The Group owns iconic prime assets, namely the PETRONAS Twin Towers, Menara ExxonMobil, and Menara 3 PETRONAS under KLCC REIT and Suria KLCC, the premier shopping mall, Mandarin Oriental, Kuala Lumpur hotel and a vacant land (Lot D1) under KLCCP.  KLCCP also has a 33% stake in Menara Maxis.

KLCCP Stapled Group redefines excellence in real estate. With decades of experience building the nation’s iconic landmarks, it has elevated industry standards and expectations, reinforcing its commitment to enriching lives and building a more sustainable future.
 
Issued by:
 
Group Strategic Communications and Investor Relations
 
29 January 2026

SOURCE: KLCC (Holdings) Sdn Bhd

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Yasmin Abdullah
Manager, Corporate Communications
Group Strategic Communications and Investor Relations
KLCC (Holdings) Sdn Bhd
Tel: +603-27837584
Email: yasmina@klcc.com.my 

--BERNAMA

MIDA STANDS READY TO IMPLEMENT NEW OUTCOME-BASED INCENTIVE FRAMEWORK FROM 1 MARCH

KUALA LUMPUR, Jan 30 (Bernama) -- Pursuant to the announcement made by the Ministry of Investment, Trade and Industry (MITI) on 29 January 2026, the Malaysian Investment Development Authority (MIDA) stands ready to operationalise the New Incentive Framework (NIF) from 1 March 2026, marking a shift towards an outcome-based, value-driven investment approach in Malaysia.
The framework will be applied to the manufacturing sector first, followed by the services sector in the second quarter of 2026. The NIF essentially ties tax incentives directly to measurable economic outcomes. Companies will be assessed using the National Investment Aspirations (NIA) Scorecard*, which quantifies contributions to job quality, technology transfer, supply chain resilience and sustainability.

Tengku Datuk Seri Zafrul Tengku Abdul Aziz, MIDA Chairman, said the framework is premised on the fundamental principle of returns on (incentive) investment by the Government. "The NIF is designed to ensure that every ringgit of foregone revenue delivers meaningful, multiplied returns to the nation’s economy. Our priority is not merely to attract investments, but to secure greater value, deeper industrial linkages, and better benefits for the Malaysian economy, SMEs and our people."

In terms of implementation, incentive applications for manufacturing sector under the Promotion of Investments Act 1986 will still be accepted by MIDA no later than 3.00pm on 28 February 2026. All new manufacturing sector incentive applications submitted from 1 March 2026 onwards will be assessed under the NIF. Manufacturing companies with existing approvals will not be affected, and their incentives will continue under the approved terms and conditions.

Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, MIDA Chief Executive Officer, said, "MIDA fully supports the implementation of the NIF as it represents a major step forward in ensuring that Malaysia attracts the right type of investments—those that are high-value, innovation-driven and sustainable. By linking incentives to clear performance outcomes, the NIF strengthens investor confidence while delivering spillover benefits to the domestic economy, especially for local SMEs and Malaysian talents."

The framework offers two mutually exclusive incentive options: a special tax rate or an investment tax allowance. Companies may choose the option that best suits their project profile and business model.

MIDA will actively guide investors through the transition from the previous incentive regime to the NIF. The application process will be integrated into MIDA's digital platforms, providing end-to-end processing for investors. Implementation guidelines, frequently asked questions (FAQs), covering eligibility criteria, scorecard assessment parameters and evaluation processes, are now available on MIDA's official website and MITI’s NIF microsite.

Datuk Sikh Shamsul Ibrahim added, "We look forward to working closely with investors throughout this transition. MIDA remains committed to facilitating and supporting both new and existing investors, to ensure the projects approved under the NIF deliver strong national outcomes in line with the NIA."

MIDA will also intensify engagement and outreach sessions to ensure awareness and readiness among domestic and foreign investors, particularly within the manufacturing and services sectors. This rollout will be supported through close collaboration with MITI and the Ministry of Finance.

The NIF represents Malaysia's most significant shift in investment policy in decades. For further information and application guidance, investors may refer to the NIF Implementation Guidelines on MIDA’s official website at www.mida.gov.my.

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA partners with investors at every stage of their journey, supporting sustainable growth and long-term value creation for Malaysia. For more information, please visit www.mida.gov.my and follow MIDA on X, Instagram, Facebook, LinkedIn, TikTok and YouTube.

*Note: The NIF will be assessed in alignment with six (6) pillars of the National Investment Aspirations (NIA), namely:
• Increasing economic complexity
• Creating high-value job opportunities
• Strengthening domestic linkages
• Developing new and existing clusters
• Improving inclusivity
• Enhancing sustainability practices

APPENDIX: INDUSTRY RESPONSE

Federation of Malaysian Manufacturers (FMM)
Mr. Jacob Lee, President:

"The introduction of the NIF is timely as manufacturers are navigating technological transformation, supply chain reconfiguration and sustainability requirements. The outcome-based model provides greater clarity and encourages companies to upgrade, move up the value chain and invest in higher-productivity activities. FMM looks forward to continued engagement with the Government to ensure smooth implementation and practical facilitation for our members."

Malaysian International Chamber of Commerce and Industry (MICCI) Ms. Christina Tee, National President:

"As the voice of the international business community in Malaysia, MICCI welcomes the NIF as announced in the National Budget 2026. The new framework is a bold step toward global competitiveness. Our members, who represent a significant portion of Malaysia's Foreign Investment (FI), value the framework’s transparency and its shift toward capability-driven growth, and we believe this performance-linked approach will provide the long-term predictability that global investors require to commit to Malaysia’s structural transformation."

SME Association of Malaysia
Dr. Chin Chee Seong, National President:

"The SME Association of Malaysia views the NIF as a vital mechanism for integrating our MSMEs into the global value chain. The focus on 'Domestic Linkages' within the NIA Scorecard is particularly encouraging, as it incentivises large foreign and local investors to deepen their collaborations with local vendors. This is a golden opportunity for Malaysian SMEs to level up their technology and ESG standards. We are committed to working with MIDA to ensure our members are 'NIF-ready' and can effectively support the high-impact projects that this framework aims to attract."

SOURCE: Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT:
MIDA
Name: Ms. Yusni Md. Yusop
Director, Strategic Planning & Policy Advocacy (Manufacturing) Division
Tel.: +603- 2267 3681
Email: yusni@mida.gov.my

--BERNAMA

SHANGHAI ROLLS OUT "SPRING FESTIVAL GIFT PACKS" TO BOOST FESTIVE TOURISM

Shanghai rolls out "Spring Festival Gift Packs".

KUALA LUMPUR, Jan 30 (Bernama) -- Shanghai is rolling out a series of "Spring Festival Gift Packs" to make it easier and more enjoyable for residents and visitors to experience the city during the holiday period as the Year of the Horse approaches.


Led by the Shanghai Municipal Administration of Culture and Tourism, the initiative features discounted tickets, themed activities, and cultural offerings across 60 popular city attractions.


According to a statement, the gift packs form part of Shanghai’s broader push to boost festive tourism and encourage people to celebrate the Chinese Lunar New Year in the city, offering a wide range of affordable options tailored to different visitor groups.


The gift packs offer ticket discounts of up to 50 per cent at participating scenic spots, together with special Chinese zodiac-themed promotions and combo passes, making sightseeing more affordable for families, tourists and local residents.


The discounts are complemented by a lineup of supporting events, including intangible cultural heritage performances, interactive pet-themed activities, traditional market fairs and bazaars featuring China-chic trends.


In addition, travel agencies and hotels have curated itineraries with a "Spring Festival vibe" and "Spring Celebration" activities covering family-friendly, cultural and rural leisure experiences, providing multiple options for holiday outings.


The initiative also aligns with the ongoing “Discover Shanghai” Tourism Guide Super Competition, which has generated practical and innovative tour recommendations that are now being developed into tourism products.


Industry observers said Shanghai continues to strengthen its appeal as a winter destination by combining affordability with cultural depth, with the gift packs helping to make travel more economical while immersing visitors in local customs during one of China’s most important traditional holidays.


The offers will be available throughout the Chinese Lunar New Year holiday period, with detailed information accessible through official tourism platforms such as "Hu Xiaoyou" and Trip.com.


-- BERNAMA

DELIBERATE DESIGN TO DRIVE ORGANISATIONAL SUCCESS IN 2026, REPORT FINDS

KUALA LUMPUR, Jan 29 (Bernama) -- Organisations can no longer rely on speed and scale alone to sustain performance in 2026, according to a new report by Top Employers Institute, a global certification, benchmarking, and advisory firm.

The study, World of Work Trends 2026: The Intentional Organisation, highlights that high-performing organisations will prioritise deliberate design in work, leadership, and management systems to drive sustainable success.

“2026 is where speed gives way to intentional design. Our data shows that performance under pressure now depends on how deliberately organisations structure work, decision-making and leadership focus,” said Top Employers Institute chief executive officer, Adrian Seligman.

Drawing on a dataset of 2,358 global organisations, the report identifies five critical trends human resources (HR) leaders must address to sustain performance under pressure, according to the firm in a statement.

Moving beyond statements, HR leaders must embed purpose into decision-making and implement measurement scorecards to provide tangible evidence of its impact on behaviours and outcomes.

As nearly half of AI projects are scrapped and productivity gains are reported by only 37 per cent of teams, intentional deployment is paramount. HR leaders must establish clear governance frameworks regarding use, accountability, and fairness.

While most organisations have remote work policies, future performance will be distinguished by how deliberately flexibility is structured. Designing flexibility with boundaries is necessary to protect fairness, performance, and employee wellbeing.

Organisations must accept that productivity cannot come from simply working people harder, especially amid shrinking HR budgets and rising burnout. The path forward involves directing energy to high-impact work, protecting focus, and building renewable workforce capability through redeployment and reskilling.

Competitive advantage depends on redesigning stability as a platform for continuous learning and internal mobility, not merely retention. Organisations that prioritise job security currently report nine per cent lower voluntary turnover than average.

The report’s findings are based on anonymised survey responses and regression analyses linking HR best practices with key success metrics, including employee engagement, profitability, and market share.

-- BERNAMA

Insurance and Takaful Industry Supports Government’s Base MHIT Plan Under the RESET Strategy

KUALA LUMPUR, Jan 29 (Bernama) -- The Malaysian insurance and takaful industry, represented by the Life Insurance Association of Malaysia (LIAM), Malaysian Takaful Association (MTA) and the Persatuan Insurans Am Malaysia (PIAM) welcomes and fully supports the Joint Ministerial Committee on Private Healthcare Costs (JBMKKS) introduction of the base Medical and Health Insurance/Takaful (MHIT) plan under the RESET Strategy. This is an important initiative which will expand financial protection for essential healthcare needs, channel private spending more efficiently and strengthen conditions for broader health system reforms in line with value-based care that improves health outcomes with disciplined cost management.

The insurance and takaful industry stands ready to play its part in delivering the base MHIT plan to Malaysians across the country. As outlined in BNM’s published White Paper on Base MHIT Plan, it is intended to expand coverage among the uninsured, while also offering more cost-effective alternatives for existing policyholders/certificate holders, particularly retirees and middle-income families seeking long-term affordability. To ensure premiums/contribution remain stable while delivering meaningful protection, the base MHIT plan design incorporates features such as deductibles, co-payments and defined annual limits. These mechanisms are applied with fairness and transparency, supporting responsible utilisation of healthcare services while safeguarding the sustainability of coverage over time. The insurance and takaful industry will work closely with BNM to finalise implementation details and operations which will be launch in early 2027.

Our members are committed to ensuring timely claims payouts, clear communication with hospitals, and efficient claims processing, so Malaysians can access care without delay. The base MHIT plan is designed to complement existing medical plans, which will continue to be available. The industry supports offering the base MHIT plan at scale, as standardisation provides a strong foundation for broader participation, consistent understanding of coverage, and greater public confidence. 

Transparency remains a priority in our work, and under the RESET strategy we have recently published Reference Price Ranges for Common Private Healthcare Services on the websites of LIAM, MTA and PIAM using actual claims data: 

• https://www.liam.org.my/about/healthcare/index.html

• https://takaful4all.org/ms/inforesources/mhit/

• https://piam.org.my/news-media/explore-connect/knowledge-zone/
publicationof-common-healthcare-services/

This publicly available guide empowers Malaysians with better cost visibility, helps them plan for potential out-of-pocket expenses, and supports more informed discussions with healthcare providers. It is one of several initiatives the industry has undertaken to promote awareness, manage healthcare costs responsibly, and protect the sustainability of insurance and takaful protection for the long term. 

LIAM, MTA and PIAM — together representing the insurance and takaful community — remain steadfast in our commitment to supporting the smooth rollout of the base MHIT plan and delivering on its promise of affordable, transparent and sustainable healthcare protection. By balancing access with affordability, embedding transparency into product design and cost structures, and leveraging our decades of experience in protecting Malaysian families, the industry is ready to drive meaningful reform and maintain the public’s trust in medical and health insurance as a cornerstone of financial security.

ABOUT LIFE INSURANCE ASSOCIATION MALAYSIA (LIAM)
Formed in 1974, the Life Insurance Association of Malaysia (LIAM) is a trade association registered under the Societies Act 1966. LIAM has a total of 16 members, of which 14 are life insurance companies and 2 life reinsurance companies. LIAM’s objectives are to promote a progressive life insurance industry; to enhance public understanding and appreciation for life insurance; to upgrade the image and professionalism of the life insurance industry and to support the regulatory authorities in developing a strong industry. Visit www.liam.org.my for details.

ABOUT MALAYSIAN TAKAFUL ASSOCIATION (MTA)
Malaysian Takaful Association (MTA) was established on November 2002 under the Societies Act 1966. It is a trade association representing all 19 licensed Takaful and Retakaful operators in the country. The objectives and the powers of MTA are to promote the interests of its members and to inculcate the implementation of self-regulation within the Takaful industry. More information on MTA can be obtained from its website: www.takaful4all.org

Facebook: facebook.com/MalaysianTakafulAssociation/
Instagram: instagram.com/malaysiantakafulassociation 

ABOUT PERSATUAN INSURANS AM MALAYSIA (PIAM)
The history of PIAM originated from the establishment of various insurance and tariff associations set up in 1885 that played a role as a collective voice of the insurance industry in Malaya and Singapore shortly after the Independence of Malaya in 1957. In June 1961, the Insurance Association of Federation of Malaya was formed to maintain tariff insurance legislations and promote sound insurance practices. For the first time, an Association was established in Kuala Lumpur to safeguard the country's general insurance interest. Subsequently, PIAM was established in May 1979 as a statutory trade association recognised by the Government of Malaysia for all registered insurance business. Currently, PIAM has 23 member companies comprising direct general insurance and reinsurance companies operating in Malaysia. 

To learn more about PIAM, visit www.piam.org.my

Facebook: facebook.com/PersatuanInsuransAmMalaysia
Instagram: instagram.com/piam_malaysia/
TikTok: https://www.tiktok.com/@piam_malaysia

SOURCE: Life Insurance Association of Malaysia (LIAM)

FOR MORE INFORMATION, PLEASE CONTACT:
LIAM:
Puan Norizan Hassan
Head of Corporate Communications
Life Insurance Association of Malaysia
Tel: 603-2691 6168 / 6628 / 8068
Email: liaminfo@liam.org.my
Website: www.liam.org.my
Facebook: LIAM – Life Insurance Association of Malaysia
Instagram: @liamalaysia

MTA:
Puan Siti Nor Kamariah Ishak
Head, Corporate Communications
Tel: 01137475361
Fax: +603-2031 8170
Email: mtasecretariat@malaysiantakaful.com.my

PIAM:
Name: Ms. Susanna G. Simon
Head of Corporate Communications
Persatuan Insurans Am Malaysia (PIAM)
Tel: 03-2274 7399
Fax: 03-2274 5910
Email: susanna.simon@piam.org.my
Website: www.piam.org.my

--BERNAMA

Hydrostor and Baker Hughes Deepen Strategic Collaboration to Advance Reliable, Resilient, and Sustainable Power Systems

Collaboration includes an equity investment and up to 1.4 GW of power generation and compression technology orders for Hydrostor flagship projects


DENVER & FLORENCE, Italy, Jan 29 (Bernama-BUSINESS WIRE) -- Hydrostor, a leading global long duration energy storage (LDES) developer and operator, and Baker Hughes, an energy technology company, announced Wednesday a strategic technology solutions and equity agreement. Baker Hughes will deepen its relationship with Hydrostor, integrating Baker Hughes’ technology capabilities as part of Hydrostor’s core design offering for its advanced compressed air energy storage (A-CAES) solution. This includes up to 1.4 GW of Baker Hughes equipment orders for Hydrostor’s flagship projects. The announcement was made at the 2026 Baker Hughes Annual Meeting in Florence.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260128652898/en/

“Increasing pressure on electric grids is making long-duration energy storage an urgent priority. Hydrostor's innovative approach offers a low-carbon solution to ensure power reliability across a diverse mix of generation resources,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “We are proud to support Hydrostor with critical technology to accelerate these projects, supporting greater global grid resilience, and enabling sustainable power systems at scale.”

“The agreement Hydrostor has signed with Baker Hughes underscores the momentum behind our A-CAES technology platform that is able to cost-effectively provide reliability and resiliency to grids around the world,” said Curtis VanWalleghem, Co-Founder and CEO. “We’re excited to build on our relationship with Baker Hughes as we near construction for our flagship projects and work to expand our project pipeline, as load grows and AI data center infrastructure is being built out globally.”

Baker Hughes has been an investor in Hydrostor since 2019. This latest strategic agreement marks an expansion of the relationship as Hydrostor nears construction on its flagship projects in the U.S. and Australia. In the initial phase of the expansion, Hydrostor will be deploying up to 1.4 GW of power generation and compression technology solutions from Baker Hughes’ extensive portfolio including compression, expander, motor and generator technology.

About Baker Hughes

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About Hydrostor Inc.

Hydrostor is a leading developer and operator of long duration energy storage systems, leveraging a proven, patented technology solution for delivering long duration energy storage to power grids around the world, using compressed air and water to store energy.

Founded in 2010 and with headquarters in Toronto, Canada, and offices in Melbourne, Australia, and Denver, USA, Hydrostor is backed by Goldman Sachs Alternatives, CPP Investments, Canada Growth Fund, and other forward-thinking institutional investors, providing financial security to commit to top-tier energy projects. Hydrostor has an extensive pipeline of A-CAES projects in North America, Australia, and Europe, poised to meet evolving grid and reliability needs.

Follow us on LinkedIn.

To learn more, visit https://www.hydrostor.ca/.

Advisors

Goldman Sachs & Co. LLC, National Bank Capital Markets, and Rothschild & Co. acted as financial advisors to Hydrostor.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20260128652898/en/

Contact

Emily Smith, Director of External Affairs, Hydrostor, emily.smith@hydrostor.ca

Source : Hydrostor and Baker Hughes

Xsolla Adds JKOPay, Boosts Taiwan Game Payments Coverage

KUALA LUMPUR, Jan 28 (Bernama) -- Xsolla, a global video game commerce company, announced the expansion of its payments solution in Taiwan by integrating JKOPay, the island’s most widely used mobile payment brand.

This strategic move, facilitated by Antom, a merchant payment service provider under Ant International, is designed to offer game developers and publishers a secure, mobile-first checkout experience for Taiwan’s highly engaged gaming audience, according to Xsolla in a statement.

"In Taiwan, mobile payments are not just a convenience – they are a lifestyle.

"By adding JKOPay, we are empowering developers to connect with players through one of the market’s most trusted and widely used payment solutions, ensuring seamless access and engagement across the region," said Xsolla President, Chris Hewish.

Taiwan is one of the world’s most digitally advanced markets, with over 95 per cent of its population online and a high rate of smartphone adoption, making mobile payments an essential part of daily consumer life.

JKOPay has emerged as a market leader in this cashless revolution, trusted by 6.5 million users and accepted by more than 300,000 merchants across retail, e-commerce, and transit.

Furthermore, JKOPay functions as an all-in-one digital ecosystem, combining e-commerce, payments, transit services, and loyalty programmes into a single, convenient mobile platform for gamers.

For developers, offering JKOPay through Xsolla Pay Station is expected to significantly increase conversions and expand player reach, tapping into millions of active, mobile-first consumers and resulting in stronger user engagement.

-- BERNAMA

Polyplastics Develops Mechanically Recycled DURAFIDE PPS Grades

KUALA LUMPUR, Jan 28 (Bernama) -- Polyplastics Co Ltd, a global leader in engineering thermoplastics, has developed two new DURAFIDE polyphenylene sulphide (PPS) grades made of mechanically recycled content.

The 40 per cent glass fibre-reinforced grades, DURAFIDE rG-PPS 1140A1R00 and 1140A1R30, contain 100 per cent and 30 per cent recycled glass fibre-reinforced PPS, respectively, and are set for launch in the coming months.

According to a statement, the new offering is part of Polyplastics’ DURACIRCLE initiative, which strives to achieve 100 per cent circularity for engineering plastics.

These new grades are offered through the company’s re-compounding service, which utilises process scrap collected from customers as raw material under its "Open PIR Mechanical Recycling Scheme".

The company collects glass fibre-reinforced PPS process scrap from partner firms meeting strict quality standards. After inspection, sorting, and reformulation, the materials are compounded under optimal conditions and undergo the same quality assurance as virgin materials.

Polyplastics plans to distribute the materials through its global sales network, with current collection targets limited to specific glass-filled DURAFIDE PPS grades. The company is also exploring new applications and collection routes, aiming to collaborate with both existing customers and firms in waste-to-value industries.

Looking ahead, Polyplastics intends to expand its lineup of mechanically recycled PPS grades and establish self-contained "local production for local consumption" recycling chains in each country and region.

-- BERNAMA

Multi-Color Corporation Announces Recapitalization to Reset Balance Sheet and Position Company for Long-Term Growth and Investment

 

MCC Enters into Restructuring Support Agreement to Eliminate Approximately $3.9 Billion of Outstanding Funded Debt, Reduce More than $330 Million of Cash Interest Expense in 2026 and Extend Long-Term Debt Maturities to 2033

Restructuring Supported by CD&R and More Than Supermajority of Senior Secured Lenders Who Have Agreed to Backstop a Nearly $890 Million Investment; Provides More Than $500 Million of New Liquidity to Support Long-Term Growth and Investment Upon Emergence

Launches Consent Solicitation and Expects to Implement Restructuring Through “Prepackaged” Chapter 11 Process; Restructuring Support Agreement Provides for CD&R to Be Controlling Shareholder

All Trade Vendors Expected to be Paid in Full; All Global Operations and Service to Customers Expected to Continue Without Interruption


ATLANTA, Jan 28 (Bernama-BUSINESS WIRE) -- Multi-Color Corporation (“MCC” or the “Company”), a global leader in prime label solutions, today announced strategic actions to further position the Company for long-term growth and investment to best serve its customers.

MCC has entered into a restructuring support agreement (the “RSA”) with holders of approximately 70% in amount of MCC’s secured first lien debt and its equity sponsor, CD&R, on the terms of a comprehensive financial restructuring. The transactions contemplated by the RSA will significantly deleverage MCC’s balance sheet, reducing its net debt load from approximately $5.9 billion to approximately $2.0 billion. The Company’s annualized cash interest will also be reduced from approximately $475 million to $140 million in 2026, a reduction of over $330 million, with long-term debt maturities extended to 2033 following consummation of the restructuring transactions.

To implement the transactions contemplated by the RSA, MCC has launched a solicitation for votes in support of a prepackaged plan of reorganization (the “Plan”), which is currently supported by holders of approximately 70% in amount of MCC’s secured first lien debt and CD&R. The RSA provides for an $889 million new common and preferred equity investment that will support long-term growth and investment. Upon emergence, MCC will have more than $500 million of liquidity.

“Over the past two years, we have taken decisive actions commercially and operationally, while onboarding top-notch leadership talent, to best position MCC for sustainable, profitable growth,” said Hassan Rmaile, President & Chief Executive Officer of MCC. “Our operational initiatives are showing momentum, and optimizing our capital structure is an essential step to advance our growth strategy. This agreement, which reflects a strong vote of confidence by MCC’s sponsor and lenders, will create a stronger financial foundation, enabling us to enhance the innovative and high-quality label solutions that help brands connect with consumers, enhance product integrity, and drive sustainable impact. We are grateful for CD&R’s and our lenders’ support as well as the ongoing dedication of our employees, customers, and suppliers.”

BUSINESS AS USUAL

The RSA also provides for $250 million of new money debtor-in-possession (“DIP”) financing to capitalize the business throughout the Chapter 11 process. This additional financing, when approved, is expected to allow MCC to continue operating in the ordinary course during the restructuring without impacting trade creditors, customers, employees, vendors, or suppliers, and will allow the Company to honor its commitments to strategic partners.

Upon commencement of the prepackaged Chapter 11 proceedings, MCC will file a series of first day motions that, subject to court approval, will allow the Company to continue to operate in the ordinary course of business while it works to deleverage its capital structure. In addition to seeking approvals related to the DIP financing, MCC will seek authority to allow the Company to continue to maintain wages and benefits without interruption, satisfy employee-related claims, pay vendors in the ordinary course, and perform other critical functions and processes necessary for the Company to continue uninterrupted operations.

ADDITIONAL RESOURCES

Additional information is currently available at MCCForward.com. Upon the Chapter 11 filing, MCC will also provide details on various legal aspects of MCC’s restructuring process, including access to Court documents.

ADVISORS

Kirkland & Ellis LLP and Cole Schotz P.C. are serving as legal counsel, Evercore is serving as investment banker, AlixPartners is serving as financial advisor, Quinn Emanuel Urquhart & Sullivan, LLP is serving as special counsel to the Special Committee of LABL, Inc.’s Board of Directors, and FGS Global is serving as strategic communications advisor to the Company. Debevoise & Plimpton LLP and Latham & Watkins LLP are serving as legal counsel to CD&R and Moelis & Company LLC is serving as financial advisor. Milbank LLP and PJT Partners serve as legal counsel and financial advisor, respectively, to the ad hoc group of secured creditors.

ABOUT MCC

Multi-Color Corporation (MCC) is a global leader in prime label solutions, providing innovative and sustainable solutions to some of the world’s most recognizable brands across a broad range of consumer-oriented end categories. MCC is committed to delivering the world’s best label solutions for their customers to build their brands and add value to the communities in which they operate.

Forward Looking Statements

This press release contains certain forward-looking statements with respect to the financial condition, results of operations and business of MCC and its subsidiaries and certain plans and objectives with respect thereto. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as "anticipate", "target", "expect", “enable”, "estimate", "intend", "plan", "goal", "believe", "hope", "aims", "continue", "will", "may", "should", "would", "could", or other words of similar meaning. These statements are based on assumptions and assessments made by the Company and its perception of historical trends, current conditions, future developments and other factors. By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this document could cause actual results and developments to differ materially from those expressed in or implied by such forward looking statements. Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and you are therefore cautioned not to place undue reliance on these forward-looking statements which speak only as at the date of this document. The Company does not assume any obligation to update or correct the information contained in this document (whether as a result of new information, future events or otherwise), except as may be required by applicable law. There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements.

Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market, supply chain and regulatory forces, future exchange and interest rates, changes in tax rates and any future business combinations or dispositions, uncertainties and costs related to the RSA and the chapter 11 process, including, among others, potential adverse effects of the chapter 11 process on the Company’s liquidity and results of operations, including with respect to its relationships with its customers, distribution partners, suppliers and other third parties; employees attrition and the Company’s ability to retain senior management and other key personnel due to the distractions and uncertainties inherent in the Chapter 11 process; the impact of any cost reduction initiatives; any other legal or regulatory proceedings; the Company’s ability to obtain operating capital, including complying with the restrictions imposed by the terms and conditions of any debtor-in-possession financing, such as the financing mentioned herein; the length of time that the Company will operate under Chapter 11 protection; the timing of any emergence from the Chapter 11 process; and the risk that any plan of reorganization resulting therefrom may not be confirmed or implemented at all. Please see the plan of reorganization and related disclosure statement (as may be amended, modified or supplemented) that will be filed with the Court for additional considerations and risk factors associated with the company’s Chapter 11 process. Nothing in this press release is intended as a profit forecast or estimate for any period and no statement in this press release should be interpreted to mean that the financial performance for the Company for the current or future financial years would necessarily match or exceed its historical results. Further, this press release is not intended to and does not constitute and should not be construed as, considered a part of, or relied on in connection with any information or offering memorandum, security purchase agreement, or offer, invitation or recommendation to underwrite, buy, subscribe for, otherwise acquire, or sell any securities or other financial instruments or interests or any other transaction.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20260126244067/en/

Contact

FGS Global for MCC
mcclabel@fgsglobal.com

Source : Multi-Color Corporation

CIMB Islamic commits RM20 million to advance environmental conservation nationwide

Champions nature and biodiversity conservation, environmental education and community empowerment initiatives nationwide through EcoSave-i

 

KUALA LUMPUR, Jan 26 (Bernama) -- CIMB Islamic Bank Berhad (“CIMB Islamic” or “the Bank”) recently committed RM20 million to drive environmental conservation and restoration initiatives across Malaysia from 2026 to 2030. The renewed pledge, channelled through the Bank’s flagship EcoSave-i savings account (“EcoSave-i), underscores CIMB Islamic’s long-term dedication to responsible finance, community empowerment, environmental education and conservation, aligned with CIMB Group’s purpose in advancing customers and society.

The commitment was formalised at the CIMB Islamic Green Showcase, together with nature conservation partners including Amanah Warisan Negara (“AWAN”), The Habitat Foundation, Reef Check Malaysia, Universiti Pendidikan Sultan Idris (“UPSI”), Malaysia Nature Society, WWF- Malaysia, Malaysia Forest Fund, Forest House, Leap Spiral, Your Idea Maker, Free Tree Society and Penang Institute. The Bank also renewed its agreement with AWAN, the primary custodian of Taman Tugu, for the continuation of the Taman Tugu Adoption and Nature Education Programme for another two years.

The investment scales up CIMB Islamic’s growing portfolio of nature conservation, biodiversity protection and community-led environmental programmes across eight states including Kuala Lumpur, Selangor, Kedah, Penang, Perak, Johor, Terengganu and Sabah. Through strategic partnerships with nature conservation partners, academic institutions and community groups, CIMB Islamic effectively channels funds into meaningful programmes that strengthen long term ecosystem resilience and sustain the livelihoods of the local communities.

Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic said, “Our mission to advance customers and society is built on environmental stewardship and community resilience. Through EcoSave‑i, we operationalise the Shariah principles by integrating sustainability into everyday banking practices. The RM20 million investment reaffirms our belief that sustainability is the fundamental lens through which we allocate capital. By embedding these principles into our core financial offerings, we are supporting development that is inclusive, responsible and ecologically resilient for generations to come.”

“We are also pleased to extend our support with 12 nature conservation partners, including AWAN, to support a range of impactful environmental initiatives nationwide. As part of this, CIMB Islamic will continue its support for the Taman Tugu Adoption and Nature Education Programme for another two years, reaffirming our commitment to Taman Tugu and expanding the programme’s impact through enhanced outreach to schools and B40 communities. Over the years, Taman Tugu has transformed into a vital sanctuary for nature-based learning and recreation, located in the heart of Kuala Lumpur and easily accessible to the public, offering Malaysians a unique space to reconnect with our natural heritage and fostering a strong sense of shared responsibility toward nature conservation.”

The refreshed commitment through EcoSave-i enables CIMB Islamic to expand its support from the Peninsula to East Malaysia. In the northern corridors, the Bank continues to strengthen biodiversity efforts within the Penang Hill Biosphere Reserve and Royal Belum State Park, while extending forest restoration and human-elephant conflict mitigation in Ulu Muda, Kedah. Central to its agenda is the protection of the Central Forest Spine. This includes initiatives within the Klang Valley such as the UPSI Edu-Forest initiative, the Rantaian Urban Green Space project, and the Penjaga Gunung Project, which empowers Orang Asli youth as the next generation of forest stewards.

In Terengganu, the Bank is deepening its footprint in Setiu, alongside coastal and coral rehabilitation efforts in Redang, Tioman and the Mersing islands. In Sabah, the Bank continues to support initiatives such as the Babagon Water Catchment and the Ulu Kalumpang Rehabilitation Programme, which focus on long-term watershed protection and restoration of wetland habitats, while empowering indigenous communities with sustainable livelihood opportunities.

Through these diverse initiatives, EcoSave-i serves as a meaningful example of how Islamic finance is able to mobilise capital for environmental sustainability. Anchored in principles of social and ecological value creation, CIMB continues to deliver lasting positive impact for the environment while ensuring underserved groups are included in the transition towards a greener economy.

EcoSave-i is Malaysia’s first environmentally focused Islamic savings account, designed to support conservation initiatives and forms a key component of CIMB Group’s broader Green, Social, Sustainable Impact Products and Services (“GSSIPS”) framework, which aims to mobilise RM300 billion in sustainable financing by 2030. Through EcoSave-i, CIMB Islamic contributes 0.2% of the total average portfolio balance per annum from the Bank’s own funds* towards environmental projects, enabling the public to contribute and support these conservation initiatives by opening an account online or at any CIMB branch nationwide. Customers who maintain a monthly average balance of RM5,000 without over-the-counter transactions are eligible to receive a RM5 monthly cash incentive.

For more information on EcoSave-i, please visit http://www.cimb.com.my/ecosave.

* Subject to maximum amount (if any) as stated in the product T&C
 

About CIMB
 
CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM79.0 billion as at 30 September 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and the Philippines.

 
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 571 branches and over 33,000 employees as at 30 September 2025. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award- winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 91.45% shareholder of Bank CIMB Niaga in Indonesia, and 94.83% shareholder of CIMB Thai in Thailand.

Link to photos​: 
https://drive.google.com/drive/folders/10uI0LguJ3dv2i1MhXE1WuKcx589Slnap 

Photo Caption:
Photo 1: CIMB Islamic commits RM20 million, channeled through 12 partners to drive environmental conservation and restoration initiatives across Malaysia, at the CIMB Islamic Green Showcase powered by EcoSave-i.
 
Photo 2: (From left) Fizulin Mohamed Zin, Senior Vice President, Corporate & Support Services, Khazanah Nasional Berhad, Datin Azlina Mahmad, Chairperson of CIMB Islamic, and Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic, planted trees at Taman Tugu, Kuala Lumpur in conjunction with the CIMB Islamic Green Showcase powered by EcoSave-i event.

SOURCE: CIMB Group

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com

--BERNAMA