Business & Corporate news in Malaysia
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DFO Management and Sequence to take Baldwin private in $7.7bn buyout
DFO Management and Sequence Holdings agreed to buy Baldwin Group for $7.7 billion, offering $32.50 per share. The deal, aimed at funding AI investments, is expected to close in the first quarter of 2027.
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Vista Equity explores strategic options for financial software firm Finastra including possible sale
Finastra, a London-headquartered provider of banking software, is being shopped by its owner Vista Equity Partners, which is working with Morgan Stanley on potential strategic options including a full sale, stake divestment, merger or acquisition. Sources say interested parties include Blackstone and that Finastra could be valued at up to about $12 billion based on reported EBITDA forecasts.
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PM Anwar explores UAE investment in halal logistics and job opportunities for Malaysians
On a working visit to Calicut, Prime Minister Anwar Ibrahim met UAE-India business leaders to discuss using Malaysia as a regional halal meat distribution hub, recruitment of Malaysian workers and potential waste-to-energy projects, aiming to boost investment and job creation for Malaysians.
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Melaka shifts investment focus to higher-value projects with stronger local supply chain links
Melaka is moving its investment strategy away from chasing volume towards higher-value projects with stronger local participation, technology development and supply chain links, Invest Melaka said. CEO Datuk Ginie Lim Siew Lin said this at a Budget 2027 dialogue held with the Ministry of Finance and the state economic planning unit, adding that TVET alignment and industry input into policy would be stepped up.
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Anwar: MITI to follow up on widening access for Malaysian goods in India
Prime Minister Anwar Ibrahim said MITI will follow up on efforts to widen access for Malaysian goods to the Indian market, discussed in his meeting with Indian Prime Minister Narendra Modi in New Delhi. He said several restrictions, including those involving airlines, still need to be addressed to ease trade between the two countries. The matter was also raised in a meeting with Kerala Chief Minister VD Satheesan in Calicut.
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JPMorgan: ASML studies building over 110 EUV machines in 2028
JPMorgan analysts said after meeting ASML's finance chief that the Dutch chip-equipment maker is examining how to build more than 110 EUV lithography tools in 2028 to meet AI-driven demand. ASML has said it is nearly sold out for 2027 and can make at least 80 machines, targeting a 30 per cent rise the following year. The analysts said assembly speed, not the supply chain, is the constraint.
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AI is shifting marketing agencies from fixed retainers to revenue‑share models in Singapore
The report, filed from Singapore, describes how AI is cutting agency production and admin costs and enabling revenue‑sharing deals where agencies earn a percentage of client sales. Singapore firm touchmkt is cited as an example, taking a low base fee and 5–9% of attributed revenue.
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MIDA: Data centre boom must spill over to Malaysian firms
MIDA wants the national data centre build-out to spread economic benefits to Malaysian companies in engineering, construction, electrical systems, cooling, telecommunications, cybersecurity and logistics. Its chairman Tengku Zafrul Tengku Abdul Aziz said success should not be measured by investment scale alone but by the value generated for the national economy. The Data Centre Nexus 2026 programme links 14 data centre firms with 51 local vendors, up from eight and 17 in 2025.
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Metro Healthcare appoints Chong Khai Siang as non-independent director
Metro Healthcare Berhad has appointed Chong Khai Siang, 41, as a non-independent and non-executive director effective 14 September 2026. Chong is the chief executive officer of the Austin Heights Group of Companies and holds 55,067,000 ordinary shares plus 13,766,750 warrants in the company.
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Johor Bahru High Court quashes RM78.7m IRB tax assessments on Adamas Marine
The Johor Bahru High Court has quashed about RM78.7 million in tax assessments and penalties imposed on shipowner Adamas Marine Sdn Bhd. Judicial Commissioner Budiman Lutfi Mohamed ruled that the Inland Revenue Board used the wrong framework to determine ownership of the company's 16 Malaysian-registered ships, and ordered the assessments from 2007 to 2023 to be set aside.
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Hexza seeks SC exemption as Foong family stake may pass 33pc
Hexza Corp Bhd is seeking an exemption for the Foong family from making a mandatory general offer after its dividend reinvestment plan could lift their collective stake above the 33 per cent takeover threshold. The family holds 32.94 per cent and could reach up to 35.36 per cent if major shareholders reinvest fully while others take cash. The exemption needs Securities Commission approval and a nod from non-interested shareholders at an EGM.
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BMS Holdings proposes 60:40 joint venture with Wee Tatt shareholders
BMS Holdings Bhd is proposing a 60:40 joint venture with the shareholders of Penang-based Wee Tatt Traders Sdn Bhd to expand its tile and building materials distribution network in the northern states. BMS will contribute RM3 million in cash for its 60 per cent stake, while the Wee Tatt shareholders will contribute RM2 million worth of inventory. The shareholders' agreement is to be signed within 30 working days.
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Zumba instructor seeks new job after True Fitness closure
The sudden closure of True Fitness and True Yoga gyms in Singapore on 10 September ended a Zumba instructor's nearly 15-year career. Nira Backhouse, 50, who received the news while in Switzerland, has already received new job offers and will run Zumba sessions at Velocity Novena from October. About 40 affected workers are reported to have found new jobs.
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KGB unit wins US$452mil India wafer fab contract, its largest ever
KGB's subsidiary Kelington Engineering has secured a US$452 million (RM1.83 billion) contract to provide total facility tool hookup services for a semiconductor wafer fab in Gujarat, India, covering 886 tools and due for completion in February 2029. It is the company's largest single contract to date, lifting its year-to-date new orders past RM3.59 billion.
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GFM Services wins extra RM37.4m Pengerang turnaround contract
GFM Services Bhd has received an additional RM37.4 million release order for major turnaround works at the Pengerang Integrated Complex in Johor, lifting the contract value to RM104.16 million. The work was awarded to its 60%-owned subsidiary Shapadu CR Asia by Pengerang Refining Company and is expected to start in March 2027.
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IOI Properties sets up REIT, shifts RM4.66b towards growth
IOI Properties Group has registered the deed for IOIPG Malaysia REIT with the Securities Commission Malaysia, moving ahead with a listing that will hold six of its hotels. The group has also revised how it will use the RM4.655 billion in expected proceeds, directing more towards property development and investment and less towards debt repayment.
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Exsim Hospitality unit accepts RM42.48mil building works contract
Exsim Hospitality Bhd's subsidiary EXSIM Concepto Sdn Bhd has accepted a RM42.48 million contract from Taghill Projects Sdn Bhd for building services and general building works. The 24-month job began on Sept 15 and is due for completion on Sept 15, 2028, and the company expects it to lift its net assets per share, earnings per share and gearing.
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Batu Kawan extends MKH takeover offer deadline to Oct 8
Batu Kawan Bhd has extended its mandatory takeover offer for MKH Bhd by three weeks, moving the closing date from Sept 17 to Oct 8. The offerors and parties acting in concert now hold 90.04 per cent of MKH's issued shares, and they do not intend to keep MKH listed on Bursa Malaysia's Main Market. Trading in MKH shares is expected to be suspended five market days after the final closing date.
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Luno to hold second institutional digital asset conference in KL on Sept 24
Luno Malaysia will host the second Luno Institutional Digital Asset Conference (Lidac26) on Sept 24 at M Resort & Hotel Kuala Lumpur. The one-day event will gather regional delegates, regulators and financial institutions to discuss institutional adoption of digital assets including stablecoins, tokenisation and custody. Registration closes Sept 20.
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Bank Rakyat unit RMS launches MyARX app for Ar-Rahnu services
Rakyat Management Services Sdn Bhd, a Bank Rakyat subsidiary, launched the MyARX mobile app to give customers faster, easier access to Ar-Rahnu pawnbroking services. The launch was announced at the Ar-Rahnu X'Change 2025 Awards in George Town, Penang, which also recognised franchisee performance for 2025.
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Johor princess quits Techna-X deputy chairman post five days after appointment
Tunku Kamariah Aminah Maimunah Iskandariah has resigned from the board of Techna-X Bhd, five days after being named deputy chairman. The company told Bursa Malaysia she cited personal commitment, and her son Tengku Shahrain Shah also stepped down the same day.
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Singapore women entrepreneurs sign MOU with South Africa's She Millionaire
Ikon Women Singapura and South Africa-based She Millionaire signed an MOU on 11 September at De Villa Ballroom, Centrium Square. The partnership gives Singapore Muslim women entrepreneurs access to international networks and business opportunities in South Africa. She Millionaire plans to expand into China with another MOU signing later in September.
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UMediC FY26 profit down 2.4% to RM8.1mil as revenue rises 20.8%
UMediC Group Bhd posted a full-year profit after tax of RM8.1 million for FY26, down 2.4% from RM8.3 million a year earlier, even as revenue grew 20.8% to RM58.7 million. Fourth-quarter revenue jumped 52.1% to RM18.7 million on stronger marketing and distribution, but quarterly profit fell 24% to RM1.9 million. The group is expanding its manufacturing footprint and pushing into neurology through partnerships with private hospital groups and Vagus Nerve Stimulation therapy.
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160 business owners attend SME conference in Petaling Jaya
More than 160 Malaysian business owners and executives gathered in Petaling Jaya for the Building Businesses That Last Conference 2026. Organised by the SME Association of Malaysia and VKA Wealth Planners, the conference discussed resilience, succession planning and long-term sustainability for SMEs.