Media OutReach
As at 8 January, GDA Secures 84.1% of MAHB Shares
Offer extended to 17 January 2025. Offer Price remains firm at RM11.00 Per Share
The encouraging level of acceptances by the First Closing Date, despite the intervening holiday period, moves the Consortium decisively towards satisfying the 90% acceptance condition and thus the threshold required to de-list MAHB pursuant to the Offer.
For shareholders who have yet to submit their acceptances, the Consortium wishes to highlight that the offer period has been extended from 8 January 2025 to 17 January 2025. Save for the extension, all other terms including the offer price of RM11.00 and the 90% acceptance condition remain unchanged.
RM11.00 offer price higher than any price MAHB has traded
GDA remains firm that its offer price of RM11.00 per share is highly compelling and attractive to shareholders (see Chart #11). RM11.00 is higher than any price MAHB has ever traded at and represents a 49.5% premium YTD2 and implies a Price-to-Earnings ratio of 37.7x3.
All 14 licensed equity research analysts that currently cover MAHB4 have target prices that are either lower than or equal to RM11.00, and most also explicitly recommend that shareholders accept the offer.
MAHB needs to address shortcomings to compete regionally
The Consortium reiterates its view that MAHB’s shortcomings in maintaining its core assets and systems, and prolonged history of underperformance both operationally and financially, will only be properly addressed if it is not constrained by a public market listing and is able to take a fresh approach.
A case in point is the Aerotrain at KLIA Terminal 1 which has suffered multiple service failures over the last 10 years and continues to be challenged by ongoing and unresolved issues. As it nears the second anniversary of total service suspension, the re-opening date remains uncertain.
The Consortium believes one of the root causes of MAHB’s issues is its continuous underinvestment in critical operational infrastructure and in projects to drive growth and expansion.
Over the last 5 years, MAHB spent RM1.3bn in capex compared to RM18.9bn by Singapore’s Changi, RM8.1bn by Indonesia’s Angkasa Pura and RM6.8bn by Airports of Thailand (“AOT”)5 (see Chart #2).
This prolonged underinvestment by MAHB has resulted in an ageing asset base and led to a number of high-profile operational failures. Meanwhile, the passenger experience has deteriorated markedly, as noted by Skytrax whose ranking of KLIA has plummeted from 2nd best airport in the world in 2001 to 71st in 2024. MAHB’s airports are in urgent need of significant remediation and expansion capex.
Unsurprisingly, MAHB has been losing ground in the ASEAN aviation market. Over the last 10 years, KLIA has lost passengers while key regional peers have grown significantly6 (see Chart #3). This has resulted in MAHB’s market share declining from 20% to 16%7 (see Chart #4). Throughout this time, KLIA’s regional peers, including Changi Airport in Singapore and Suvarnabhumi Airport in Bangkok, continue to make significant investments to increase their capacity and further distance themselves from KLIA.
Operational challenges have contributed to MAHB’s financial underperformance
Over a 10-year period8, MAHB has consistently underperformed listed APAC peers across a number of key financial metrics (see Charts #5 – #7):
Moreover, MAHB’s dividend has remained stagnant over the last 10 years and MAHB distributed only RM0.11 per share in 2024. This implies a 1.0% dividend yield9, which is four times lower than the KLCI Bursa Malaysia Index10 and three times lower than the DJ Airports index11 (see Chart #8). The RM11 per share offer price compares to RM0.82 of dividends MAHB has paid over the past 10 years (see Chart #9).
Consortium committed to turnaround MAHB
As highlighted in the offer document dated 6 December 2024, the Consortium intends to upgrade and modernise MAHB’s operations, enhance passenger service, improve airline connectivity and stimulate traffic growth. The Consortium believes that such objectives will be best achieved by MAHB as a private entity, taking a long-term approach to decision-making and capital investment, and benefitting from GIP’s airport expertise.
With its combined resources, control of the board and without the constraints of a public market listing, the Consortium together with management will be able to expedite necessary capital investments and provide the requisite technical expertise to realise MAHB’s full potential.
This offer presents a compelling opportunity for MAHB shareholders to achieve immediate and attractive returns and GDA therefore encourages all shareholders who have not yet accepted the offer to do so before the revised closing time and date of 5:00 p.m. (Malaysian time) on 17 January 2025.
Hashtag: #GatewayDevelopmentAlliance
The issuer is solely responsible for the content of this announcement.
Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.
HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.
The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.
“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”
The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.
Key demographic and operational insights from Air Corporate’s client base include:
- Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
- Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
- Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
- A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
- Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.
Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.
Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.
For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.
“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.
Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.
Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.
Hashtag: #AirCorporate
The issuer is solely responsible for the content of this announcement.
Media OutReach
Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”
Today’s biggest stars express individuality and confidence with natural diamonds
NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.
Desert diamonds
Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.
Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.
Magnificent Diamond Earrings
A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.
Standout Diamond Moments
Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.
Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.
Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds
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The issuer is solely responsible for the content of this announcement.
Media OutReach
Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026
The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM
SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.
This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.
Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.
Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.
With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.
For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026
Hashtag: #HLBankSingapore
The issuer is solely responsible for the content of this announcement.
HL Bank Singapore
HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.
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