AGP Executive Report

Brunei Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal Combined Cycle Gas Turbines Power Station, adding 215MW to strengthen electricity supply and support Vision 2035. Brunei Capital Markets: A Brunei Darussalam Capital Market Development seminar focused on “An Introduction to Sukuk Issuance,” pushing sukuk as an alternative financing tool for government-linked and private issuers. Regional Defence & Security: The Philippines and India have locked in preparations for Asean-India Maritime Exercise 2026 (Sept 28–Oct 2), with Brunei among the 11 Asean participants, aiming to boost maritime security cooperation and interoperability. ASEAN Business Links: Mindanao’s MinBizCon highlighted BIMP-Eaga as a trade corridor, pointing to halal goods, food processing, fisheries and renewable energy as growth engines for cross-border investment. Brunei Tourism Push: Brunei is targeting 1 million tourists during Visit Brunei Year 2027, as the country ramps up its visitor drive. Trade & Consumer Trends: Korean food franchises are accelerating into Southeast Asia, including Brunei, as brands expand beyond early markets.

Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal Combined Cycle Gas Turbines Power Station, adding 215MW to strengthen electricity supply under the 12th National Development Plan. Islamic Finance: A Brunei Capital Market Development seminar focused on sukuk as an alternative financing instrument, bringing together nearly 100 policymakers, regulators and potential issuers. Regional Trade & Business: BIMP-Eaga was highlighted as a practical trade corridor for Mindanao growth, with speakers pointing to halal, processed food, fisheries and renewable energy as high-potential sectors for deeper industry linkages. Maritime Cooperation: The Philippines will host ASEAN-India Maritime Exercise 2026 in late September/early October, with Brunei among participating navies, aiming to boost regional maritime security and interoperability. Royal Affairs: Brunei’s Sultan revoked his daughter-in-law’s royal titles after “unbecoming” conduct, with the Office of the Grand Chamberlain confirming she is no longer considered part of the royal family. Cross-border Business Expansion: Korean franchise brands are accelerating into Southeast Asia, including expansion into Brunei, as competition heats up in food and café retail.

Energy & Infrastructure: Brunei’s Department of Electrical Services signed with Sinohydro for Phase 2 of the Bukit Panggal combined-cycle gas turbines power station, adding 215MW to strengthen supply and support Vision 2035. Capital Markets: Brunei held a “Sukuk Issuance” seminar to boost understanding of sukuk as an alternative financing tool for government-linked and private issuers. Regional Business Linkages: Mindanao’s MinBizCon pushed BIMP-EAGA as a trade corridor, highlighting halal, food processing, fisheries and renewable energy as growth bets. Maritime Cooperation: The Philippines will join India and ASEAN partners in September’s ASEAN-India Maritime Exercise 2026, with Brunei among participating navies. Royal Affairs: Brunei’s Sultan revoked his daughter-in-law’s royal titles for “unbecoming” conduct, a move confirmed by the Office of the Grand Chamberlain. Defense & Training: U.S. Army and Royal Brunei Land Forces kicked off Exercise Pahlawan Warrior 26, focusing on jungle and built-up operations and interoperability. Aviation/Trade Finance: Allianz Global Investors agreed to buy UOB Asset Management for about US$433m, with UOB set to distribute AllianzGI products across Brunei and the region.

Brunei Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal Combined Cycle Gas Turbines Power Station, adding 215MW to strengthen national electricity supply and support Brunei Vision 2035. Brunei Capital Markets: A Brunei Darussalam Capital Market Development seminar focused on sukuk as an alternative financing tool, bringing together nearly 100 policymakers, regulators and potential issuers. Regional Trade & Growth: BIMP-Eaga was highlighted at Mindanao’s MinBizCon as a trade corridor for halal goods, food processing, fisheries and renewable energy, with deeper linkages projected to lift growth. Brunei Business & Finance Deal: Allianz Global Investors’ $433m acquisition of UOB Asset Management includes Brunei in the absorbed regional franchise, alongside a 10-year distribution agreement. Brunei Royal Affairs (non-business but local impact): The Sultan stripped his daughter-in-law of royal titles for “unbecoming” conduct, with the palace saying it tarnished the monarchy’s good name. Local Governance & Compliance: Brunei-linked readers may also note Hong Kong’s enforcement push—rating and valuation requisition forms for a revaluation starting April 1, 2027, and fines for non-compliance with a removal order.

Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal Combined Cycle Gas Turbines Power Station, adding 215MW to strengthen supply and lift generation efficiency. Capital Markets: Brunei held a “Sukuk Issuance” seminar to boost understanding of sukuk as an alternative financing tool, bringing together nearly 100 policymakers, regulators and potential issuers. Regional Trade & Growth: BIMP-Eaga was highlighted as a practical trade corridor for Mindanao, with calls to deepen links in halal goods, food processing, fisheries and renewable energy to lift growth. Brunei Royal Affairs: The Sultan of Brunei revoked his daughter-in-law’s royal titles for “unbecoming” conduct and “lack of respect,” with the palace citing reputational harm to the monarchy. Business & Finance Deal: Allianz Global Investors agreed to acquire UOB Asset Management for about S$555m, expanding AllianzGI’s regional wealth distribution including Brunei. Cross-border Policy: The US published a list of countries whose consulates must be notified when citizens are arrested in the US, including Brunei. Royalty & Governance: A Brunei-linked royal titles story also drew attention to how conduct and household status are handled publicly.

Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal combined-cycle gas turbine power station, adding 215MW and supporting Brunei Vision 2035 goals for a more resilient, efficient power sector. Capital Markets: A Brunei Capital Market Development seminar focused on sukuk as an alternative financing tool, bringing together nearly 100 policymakers, regulators and potential issuers. Regional Trade & Growth: BIMP-Eaga was highlighted as a trade corridor for Mindanao, with calls to deepen cooperation in halal goods, processed food, fisheries and renewable energy to lift growth. Business & Finance Deal: Allianz Global Investors agreed to acquire UOB Asset Management for about S$555m (US$433m), with UOB set to distribute AllianzGI products across Brunei and other Asian markets. Royal & Governance: A senior member of the Brunei royal family was stripped of titles after “unbecoming” conduct, while the palace offered limited details. Local Business Spotlight: A FELCRA-backed entrepreneur turned torch ginger into serunding and expanded sales to overseas markets. Maritime Industry: Brunei’s Women in Maritime Spotlight panel pushed back on headcount-only measures of progress, focusing on real inclusion in the sector.

Royal Household Update: Brunei’s Sultan Hassanal Bolkiah stripped his daughter-in-law, Pengiran Raabi’atul Adawiyyah, of her royal titles after conduct deemed “unbecoming” and tarnishing the monarchy’s good name, though the palace gave no further specifics. Energy & Infrastructure: Brunei’s Department of Electrical Services signed a contract with Sinohydro for Phase 2 of the Bukit Panggal combined-cycle gas turbine power station, adding 215MW to strengthen electricity supply under Vision 2035. Capital Markets: A Brunei Capital Market Development seminar on sukuk highlighted the push to broaden corporate participation and strengthen the local capital market ecosystem, positioning sukuk as an alternative financing tool. Regional Trade Linkages: BIMP-Eaga was pitched as a growth corridor for Mindanao, with halal goods, processed food, fisheries and renewable energy flagged as key sectors for deeper cooperation. Entrepreneurship Spotlight: FELCRA-supported Mariyaton Kaftiah turned torch ginger into serunding and other snacks, building overseas sales from a small start during the 2020 MCO. Business & Finance (Cross-border): UOB Asset Management’s S$555m sale to Allianz Global Investors includes Brunei among the markets covered, under a 10-year distribution arrangement. Maritime/Defense (Context): U.S. Army and Royal Brunei Land Forces kicked off Exercise Pahlawan Warrior 26, reinforcing interoperability through jungle and built-up area training.

Brunei Tourism Push: Brunei is targeting about 1 million tourist arrivals and B$630 million in tourism revenue for Visit Brunei Year 2027, with 400,000 arrivals already logged in the first half of 2026 and a shift toward higher-value stays and spending. Workforce & Skills: Brunei’s education ministry says automation and AI are reshaping jobs, so it’s updating higher education and TVET with new technology-focused modules, more project-based learning, and stronger data-driven graduate outcomes. Maritime Inclusion: Brunei Darussalam Maritime Week 2026 spotlighted women in the sector, arguing that headcounts alone don’t measure progress and calling for deeper inclusion in maritime roles. Regional Business Links: Hong Kong opened new Economic and Trade Offices in Kuala Lumpur (and expanded its ASEAN footprint), underlining growing HK–Malaysia trade ties that also cover Brunei. Finance Deal with Brunei Footprint: Allianz Global Investors is buying UOB Asset Management for about US$433m, with UOBAM’s regional coverage including Brunei and a long-term distribution partnership. Energy & Infrastructure: Petronas Carigali and MISC advanced key subcontracts for the Kelidang deepwater gas project offshore Brunei, while Brunei’s wider Vision 2035 agenda continues to lean on energy planning and private-sector growth.

Wealth & M&A: Freshfields led legal support for Allianz Global Investors’ S$555m ($433m) acquisition of UOB Asset Management, with UOB shifting fully to wealth advisory and distribution across eight Asian markets including Brunei. Renewables & Food Supply Chains: Founder Group’s second Malaysia aquaculture rooftop solar deal—1.78MW-peak for a Kedah shrimp farm—adds about US$1.37m to its clean-energy push for agriculture. Energy Policy: The Philippines’ Semirara coal block auction is likely delayed by two more months as the Department of Energy finalises terms of reference, though power supply is expected to stay covered. Brunei Defence & Training: U.S. Army and Royal Brunei Land Forces kicked off Exercise Pahlawan Warrior 26 at Tutong Camp, focusing on jungle, built-up operations and live-fire coordination. Tourism & Skills for Brunei: Brunei targets ~1m tourists and B$630m tourism revenue for Visit Brunei Year 2027, while the education ministry says it’s reshaping higher education and TVET for an AI-driven job landscape. Regional Trade Links: Hong Kong opened new Economic and Trade Offices in Malaysia (Kuala Lumpur), with coverage explicitly including Brunei, aiming to deepen ASEAN ties. Maritime Inclusion: Brunei’s Women in Maritime Spotlight panel challenged “headcount-only” measures and pushed for real inclusion in the sector.

Tourism Push: Brunei targets about 1 million tourists and B$630 million in tourism revenue for Visit Brunei Year 2027, with ~400,000 arrivals in the first half of 2026 and a 7.8% year-on-year rise, as the government doubles down on high-value, longer-stay visitors. Education for Jobs: Brunei’s education ministry says it’s reshaping higher education and TVET for an AI- and automation-driven job market, adding new-tech core modules, more project-based learning with industry, and stronger data-based graduate tracking. Maritime Inclusion: Brunei’s Women in Maritime Spotlight panel challenges the industry to look beyond headcounts and push real inclusion, with voices from ports, shipping and maritime stakeholders. Energy & Gas Project: Petronas Carigali and MISC are progressing work on the Kelidang deepwater gas cluster for Brunei, awarding key FPU subcontracts for topsides and hull conversion, with integration planned at MMHE’s yard in Pasir Gudang. Finance Deal (Regional): UOB Asset Management is set to be acquired by Allianz Global Investors in a deal covering UOBAM’s franchise across eight Asian markets including Brunei, with a long-term distribution partnership planned. Aviation Connectivity: Royal Brunei Airlines expands its codeshare with Turkish Airlines, adding a Bandar Seri Begawan–Istanbul route via Kuala Lumpur from 7 August 2026, boosting access to Europe and the Middle East.

Energy & Infrastructure: Petronas Carigali and MISC are pushing ahead with Brunei’s Kelidang deepwater gas project, awarding key FPU subcontracts—Jutal Offshore Oil Services for topsides modules and MMHE to convert a tanker hull and handle hull-topside integration in Pasir Gudang. Aviation & Tourism: Royal Brunei Airlines expands its Turkish Airlines codeshare, adding an extra Bandar Seri Begawan–Istanbul option via Kuala Lumpur, boosting connectivity ahead of Visit Brunei Year 2027. Brunei Growth Targets: Brunei is aiming for about 1 million tourists and B$630 million in tourism revenue in Visit Brunei Year 2027, with a focus on higher-value stays and spending. Skills for the Future: Brunei’s education ministry says it’s reshaping higher education and TVET for an AI-driven job market, including curriculum updates, project-based learning, and data-led graduate outcomes. Regional Business Climate: UOB and Allianz Global Investors move closer on a S$555m acquisition of UOB Asset Management, with a long-term distribution partnership spanning Brunei and other ASEAN markets. Regional Trade & Policy: UK launches consultations on deeper trade ties with the Philippines ahead of potential CPTPP accession—relevant for Brunei firms watching ASEAN supply-chain shifts.

Brunei Tourism Push: Brunei targets around 1 million tourists and about B$630m in tourism revenue for Visit Brunei Year 2027, with ~400,000 arrivals in the first half of 2026 and a strategy focused on high-value, longer-stay spending. Workforce & Skills: Brunei’s education ministry says AI and automation are reshaping jobs, so it’s updating higher education and TVET via new tech-related curriculum modules, more project-based learning with industry, and stronger graduate employability tracking. Business Climate: Brunei reported a 125% jump in company registrations—354 in 2025 vs 157 in 2024—with 200 already registered in the first half of 2026, supported by the Brunei Economic Development Board. PPP for Growth: Brunei highlighted public-private partnership projects including a 30MW AC solar plant near the capital (aiming to start operations by end-2026) and port efficiency gains via Muara Port Company. Regional Connectivity: Royal Brunei Airlines expanded its codeshare with Turkish Airlines, adding an Istanbul route via Kuala Lumpur to boost access for visitors ahead of Visit Brunei 2027. ASEAN Context: ASEAN leaders marked the bloc’s 59th anniversary with renewed calls for centrality and rule of law amid regional tensions, while a Pentagon official urged Asian allies to raise defence spending. Regional Finance Deal: UOB signed an agreement for Allianz Global Investors to acquire UOB Asset Management, covering UOBAM’s franchise across multiple ASEAN markets including Brunei, with completion expected in 2027.

ASEAN 59th Anniversary: Malaysia marked ASEAN’s 59th founding with “Navigating Together,” while regional leaders stressed ASEAN centrality and rule-based cooperation amid global fragmentation. Brunei Tourism Push: Brunei targets about 1 million tourists and B$630m tourism revenue in Visit Brunei Year 2027, with 400,000 arrivals in the first half of 2026 and a shift toward higher-value stays and spending. Workforce for the Future: Brunei’s education ministry is reshaping higher education and TVET for an AI- and automation-driven job market, including updated curricula, more project-based learning, and stronger graduate-to-employer data use. Brunei Business Climate: Brunei saw a 125% jump in company registrations in 2025 (354 vs 157 in 2024) and 200 registrations in the first half of 2026, supported by the Brunei Economic Development Board. Energy & PPPs: Brunei highlighted PPP momentum: a 30MW AC solar plant near the capital (aiming to start by end-2026) and improved Muara Port operations via a foreign-investor partnership. Regional Connectivity: Royal Brunei Airlines expanded its codeshare with Turkish Airlines, adding an Istanbul–via–Kuala Lumpur route from 7 Aug 2026. Wealth Management Deal (ASEAN): UOB agreed for Allianz Global Investors to acquire UOB Asset Management, covering UOBAM’s franchise across eight Asian markets including Brunei, with completion expected in 2027. Trade/Industry Signals: Proton e.MAS is set to expand exports to Sri Lanka via David Pieris Holdings, with Brunei expected to join later. Health & Environment: Indonesia’s haze worsened across Malaysia and Singapore as cloud seeding was paused, keeping regional air-quality risks in focus.

ASEAN Centrality & Rule of Law: Malaysia’s climate bill delay is flagged as a business risk, while ASEAN leaders mark the bloc’s 59th anniversary with calls for unity, dialogue and rule of law amid regional uncertainty and South China Sea tensions. Brunei Business & Finance: UOB’s deal to sell its asset management arm to Allianz Global Investors (covering Brunei among eight markets) comes with a long-term distribution partnership, pointing to deeper wealth-management competition across ASEAN. Air Connectivity: Royal Brunei Airlines expands its Turkish Airlines codeshare, adding BSB–Istanbul via Kuala Lumpur, boosting travel links for tourism and business. Brunei Economy & Investment Pipeline: Brunei reports a 125% jump in new company registrations in 2025 and pushes PPPs, including a 30MW solar plant and port-efficiency upgrades at Muara. Maritime Sector: Brunei’s Maritime Week spotlights “safe seas, thriving economy” and a new MoU between Anson International and SPHI Marine to explore vessel and quayside services. Digital Skills & AI Governance: DFCE 2026 highlights future-ready digital capability and AI governance, with EVYD backing discussions on building trust while enabling innovation.

ASEAN 59th Anniversary Diplomacy: President Marcos told ASEAN that rule of law and dialogue must prevail as the bloc marks 59 years, amid heightened tensions in the West Philippine Sea and wider regional crises that can spill into trade and stability. Brunei Vision 2035 Growth Push: A Brunei minister said Vision 2035 needs resilient growth, stronger private-sector participation (especially MSMEs), more investment, and macro stability with controlled inflation. Brunei Business Momentum: Brunei saw a 125% jump in new company registrations in 2025, with 200 registrations in the first half of 2026, as the Economic Development Board supports investment and industrial sites. PPP for Energy, Tourism, Ports: Brunei highlighted public-private partnership projects including a 30MW AC solar plant near the capital (aiming to start operations by end-2026) and a Muara Port efficiency upgrade to boost maritime connectivity. Maritime Sector Collaboration: Brunei Maritime Week featured a MoU between Anson International and SPHI Marine to explore marine support, vessel maintenance and quayside solutions. Regional Trade & Investment Links: Qatar-ASEAN ties are deepening as trade nears $15bn annually, with new cooperation in energy, fintech, digital innovation and investment. Tourism Drive for 2027: Brunei is targeting high-value tourism ahead of Visit Brunei Year 2027, aiming for longer stays and higher spend through new product lines and stronger international promotion. Digital Skills & AI Governance: DFCE 2026 spotlighted future-ready digital skills and AI governance, with EVYD urging clearer, risk-based approaches to build trust and enable digital trade.

Brunei Vision 2035 & Private Sector: A Brunei minister told the Legislative Council that Vision 2035 needs resilient, high-growth momentum, stronger productivity via technology and innovation, and a more enabling environment for MSMEs and investment to create jobs while keeping inflation stable. Tourism Push for Visit Brunei Year 2027: Brunei is targeting high-value tourism with longer stays and higher spend, using overseas promotion, digital marketing, and new product lines like adventure, nature, arts and culinary experiences. Investment & Land Supply: The Ministry of Development identified 17,526 hectares for future development, including land for Muara Port expansion and freight road networks, plus a government land lease programme to support mixed-use projects. Maritime Strategy & Trust: At Brunei Darussalam Maritime Week 2026, the transport minister said Brunei aims to be among the most trusted maritime nations, linking safe seas to confidence, investment and jobs. PPP for Energy & Ports: Brunei is advancing PPPs including a 30MW AC solar plant near the capital (expected to start by end-2026) and a Muara Port efficiency upgrade via a foreign investor partnership. Business Climate Signals: Brunei saw a 125% jump in new company registrations in 2025 (354 vs 157 in 2024), with 200 registrations in the first half of 2026. Maritime Deal-Making: Anson International and SPHI Marine signed an MoU to explore collaboration in marine support, vessel maintenance and quayside solutions. Regional Trade & Integration: ASEAN’s 59th anniversary coverage highlighted the need for internal unity and integration amid geopolitical pressure, while India reiterated Act East-driven ties across connectivity, trade and digital links.