Business & Corporate across Malaysia
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YTL Power, Ganda Power sign Siemens deal for four more gas turbines
YTL Power International, Ganda Power and Siemens Energy have signed reservation agreements for four additional SGT-9000HL gas turbine units, bringing their total to seven. The turbines will support power generation projects in Malaysia and the region with over 5,250MW combined capacity. The agreements were signed in Kuala Lumpur by YTL Power managing director Datuk Seri Yeoh Seok Hong, Ganda Power director Datuk Syed Budriz Putra Jamalullail and Siemens Energy executive board member Karim Amin.
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India consumer regulator widens Apple iOS 18 warranty probe
India's Central Consumer Protection Authority has escalated its investigation into Apple's software warranty terms after complaints that the iOS 18 update damaged iPhone displays and microphones, leaving users to pay for repairs. Apple denies systemic problems and says its no-warranty-on-software policy follows global industry standards. The regulator could order refunds or changes to Apple's practices if the case is upheld.
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Proton e.MAS takes over 60pc of Malaysia's EV market, 27,403 registered
Proton e.MAS recorded 27,403 domestic EV registrations from January to August, more than 60 per cent of Malaysia's EV market. Pro-Net said year-to-date registrations reached 27,856 units including exports, with the e.MAS 5 leading the EV segment. All models are locally assembled at Proton's EV plant in the Automotive High Tech Valley in Tanjong Malim.
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MIAPEX 2026 in Seri Kembangan targets RM12 million in sales
The Malaysia International Automotive & Parts Expo (MIAPEX) 2026 will run from 23 to 25 October at MIECC, The Mines, Seri Kembangan, Selangor. Organisers are targeting over 22,000 visitors and more than RM12 million in sales through B2B and B2C platforms, with about 350 exhibitors from Malaysia and abroad.
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SIBS enters 10th edition, focuses on Selangor investment and tech
The Selangor International Business Summit (SIBS) will hold its 10th edition from Oct 14 to 17, 2026, after generating RM30.56 billion in cumulative potential transaction value since 2015. Invest Selangor CEO Dato' Hasan Azhari Haji Idris said the summit has grown into an economic platform linking government, investors, industry and talent, aligned with the Second Selangor Plan.
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Google Cloud opens Singapore engineering centre for AI and cloud products
Google Cloud has opened its Singapore Engineering Centre, a product development hub building enterprise cloud and AI solutions in Singapore for global markets. The centre is co-located with Southeast Asia's first Google DeepMind research lab and is supported by the Singapore Economic Development Board, with early work involving Grab and DBS.
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Anwar to discuss Maldives oil exploration proposal with Petronas
Prime Minister Anwar Ibrahim will discuss a Maldivian oil exploration proposal with Petronas, as Malaysia seeks to expand economic cooperation with the island nation. He said this at a joint press conference with Maldives President Mohamed Muizzu in Malé, also stressing climate cooperation.
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TDCX opens Lisbon campus, plans second building by 2027
TDCX, a customer experience solutions firm, opened its first campus in Lisbon, Portugal on 11 September 2026, its third site in Europe. The company plans a second Lisbon building as early as 2027 to meet client demand for multilingual support.
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Takaful Malaysia to grow retail business via banks and Kaotim
Syarikat Takaful Malaysia Keluarga Bhd is pushing into retail takaful to sustain earnings growth, aiming to use bancatakaful partnerships and its Kaotim digital platform to reach individual customers. Retail market share has risen from 0.8% in 2022 to about 9% as at end-June this year, and the group targets more than a million customers.
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NCER eyes EV and automotive investments in Kulim, Kedah
The Northern Corridor Implementation Authority is assessing high-technology vehicle projects in Kulim, Kedah, including EV battery and automobile investments, as part of its RM470 billion cumulative investment target by 2030. The NCER 2026-2030 Strategic Development Plan was launched in Putrajaya by Economy Minister Akmal Nasrullah Mohd Nasir, with 70 per cent of the target expected from E&E, automotive, tourism and modern agriculture.
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Wang Jianlin's Infront sells HYROX majority stake to LVMH fund
Swiss sports marketing firm Infront, controlled by China's former richest man Wang Jianlin, has sold its majority stake in indoor fitness race brand HYROX to a consortium led by LVMH's private equity arm L Catterton. Terms were not disclosed; the deal is reported to value HYROX at about 600 million euros (RM2.8 billion). Infront first invested in 2019 and became its largest shareholder in 2022.
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Baby formula case: Abbott agrees to pay S$489 million over Sturgis plant
Abbott Laboratories has agreed to pay about US$385 million (S$489 million) to settle claims that it knowingly sold baby formula made at its Sturgis, Michigan plant that failed safety requirements. The US Justice Department announced the settlement on Monday, September 14, after the plant was linked to a 2022 recall and the deaths of two infants. Abbott did not admit fault in the settlement.
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TP-Link brings Wi-Fi 8 to Malaysia, focusing on connection stability
TP-Link has introduced Wi-Fi 8 in Malaysia, making the country the first in Asia-Pacific to launch the next-generation wireless technology. Based on the IEEE 802.11bn standard, Wi-Fi 8 emphasises network stability and reliability over speed. The company also showcased Archer 8 Ultra and Deco 8 Ultra at its APAC Summit 2026 in Kuala Lumpur and signed MoUs with three Malaysian universities for Omada networking courses.
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UMediC revenue up 52.1% to RM18.7mil in fourth quarter
UMediC Group Bhd posted a 52.1% rise in revenue to RM18.7 million for its fourth quarter ended July 31, 2026, driven by its marketing and distribution segment. Full-year revenue rose 20.8% to RM58.7 million, with profit after tax of RM8.1 million. The company said it is expanding manufacturing and moving into specialised areas such as neurology.
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BYD scraps Tanjung Malim plant for CKD assembly, Sime Darby seen as main beneficiary
BYD has cancelled its planned 150-acre assembly plant in Tanjung Malim, Perak, and will instead use contract assembly, with Sime Darby's Inokom in Kulim, Kedah, seen as the likely partner. BIMB Securities says the pivot lowers risk for BYD and benefits Sime Darby, but Inokom's near-full capacity may limit near-term gains.
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vivo V80 spotted on SIRIM, local launch likely soon
The vivo V80 has appeared in Malaysia's SIRIM database under model number V2648, approved on 9 September 2026, pointing to an imminent local launch. Leaks suggest a 6.8-inch AMOLED screen, Snapdragon 7 Gen 4 chip, and a 7,200mAh battery with 90W charging. vivo has not confirmed any details yet.
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SB Energy to raise US$500m from Japanese investors ahead of US listing
SB Energy, the SoftBank-backed data centre developer, will issue new shares worth up to US$500 million to Japanese investors as part of a planned US public listing, according to a filing. The proceeds will fund data centres, power generation and related infrastructure. Nvidia has committed US$1.5 billion in a private placement, and OpenAI holds warrants worth about US$5.5 billion.
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IOI Properties seeks shareholder approval for RM7.58bil REIT asset injection
IOI Properties Group is seeking shareholder approval to dispose of a RM7.58 billion portfolio of retail, hotel and office properties to its newly established IOIPG Malaysia REIT, ahead of a listing on Bursa Malaysia's Main Market. The portfolio includes IOI City Mall, six hotels and two office towers, with IOI City Mall accounting for RM5.10 billion of the consideration. The REIT will remain a subsidiary of IOIPG, which expects to retain at least 54% after the listing.
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Airbus: Asia-Pacific needs 19,120 new jets by 2045, 45% of global demand
Airbus' Global Market Forecast projects Asia-Pacific will require 19,120 new passenger aircraft between 2026 and 2045, about 45% of the 42,060 jets needed worldwide. The region's traffic is expected to grow 5.1% a year, more than double global average, with widebody demand at 3,420 aircraft. Airbus already holds a 58% share of Asia-Pacific's in-service fleet and 61% of the region's order backlog.
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Yew Lee Pacific issues 363,500 new shares from warrant conversion
Yew Lee Pacific Group Berhad has issued 363,500 new ordinary shares after the conversion of warrants, at an issue price of RM0.2800 per share. The shares will be listed on 17 September 2026, bringing the company's total issued share capital to 598,759,600 units worth RM85,537,013. The announcement was made on 15 September 2026.
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OMESTI proposes 5-to-1 share consolidation, name change to Tegra Berhad
OMESTI Berhad has issued a circular to shareholders proposing to consolidate every five existing ordinary shares into one, with the entitlement date to be determined later. The company also proposes changing its name from OMESTI Berhad to Tegra Berhad. The announcement was made on 15 September 2026.
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Malaysia's tourism industry grows 8.6% to RM323 billion in 2025, 15.9% of GDP
Malaysia's tourism industry generated RM323.0 billion in value added in 2025, up 8.6% year-on-year and contributing 15.9% to GDP, according to the Department of Statistics Malaysia. Internal tourism expenditure rose 15.2% to RM236.9 billion, with inbound spending up 16.5% and domestic spending up 13.8%. The sector employed 3.7 million people, or 22.1% of total employment.
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Kenanga keeps RM10.10 target for Kelington after RM1.83b India contract
Kelington Group Bhd has won its largest-ever contract, worth US$452 million (about RM1.83 billion), to provide turnkey ultra-high-purity tool hookup services for a semiconductor wafer fabrication plant in Gujarat, India. Kenanga Research has maintained its OUTPERFORM call and target price of RM10.10, raising its FY2026 new contract win assumption to RM4.0 billion while leaving earnings forecasts unchanged.
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FPAM certifies 365 financial planners, 276 as CFP
The Financial Planning Association of Malaysia has certified 365 financial professionals, with 276 earning the Certified Financial Planner qualification and 89 the Islamic Financial Planner certification. The graduates from three cohorts were recognised at FPAM's Graduation Day 2026 ceremony, where president Alvin Tan stressed trust and ethical standards in the profession.