Business & Corporate news in Malaysia
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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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United Asiapac Energy lists on ACE Market, targets Sabah and Sarawak growth
Sarawak-based oil and gas services firm United Asiapac Energy Bhd began trading on Bursa Malaysia's ACE Market at 35 sen a share. The company plans to expand its well intervention services in Sabah and Sarawak and strengthen its presence nationwide.
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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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Anwar discusses Malaysia-Kerala economic cooperation in Kozhikode
Prime Minister Datuk Seri Anwar Ibrahim held a courtesy call with Kerala Chief Minister V.D. Satheesan in Kozhikode, India, to discuss economic cooperation in high-value sectors including the digital economy, healthcare, tourism and education. Both sides expressed interest in strengthening trade and investment ties and boosting people-to-people exchanges. Anwar also invited Satheesan to visit Malaysia.
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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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PETRONAS Carigali signs new PSC for Block A-18-01 in Malaysia-Thailand JDA
PETRONAS Carigali, through its wholly-owned subsidiary PC JDA, has secured approval from the Malaysian and Thai governments for a new production sharing contract for Block A-18-01 in the Malaysia-Thailand Joint Development Area (MTJDA). The company also signed a gas sales agreement with PETRONAS and PTT Public Company Limited to support continued natural gas supply to both countries. The new PSC runs for 35 years from 1 January 2026, replacing the current PSC that expires on 20 April 2029.
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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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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.
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DSR Taiko, PKNP sign MoU on Pahang Musang King origin standard
DSR Taiko Bhd and the Pahang State Development Corporation (PKNP) have signed a memorandum of understanding to set up a verified origin standard and digital export traceability system for Pahang Musang King durians. The plan introduces a Pahang Musang King origin label backed by the Musang King Integrated Tracking System, letting growers tag harvests digitally and buyers verify origin. It also supports the proposed Pahang Durian City hub in Bentong.
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Sapura Resources unit Invation Aero starts creditors' voluntary winding-up
Invation Aero Sdn Bhd, an indirect wholly owned subsidiary of Sapura Resources Bhd, has begun a creditors' voluntary winding-up after shareholders and creditors met on Sept 14, 2026. Liquidators from Norvic Corporate Services were appointed, and the dormant aircraft leasing and MRO firm had net current liabilities of RM1.18 million as at Aug 31. Sapura Resources says the exercise will not materially affect its earnings or net assets.
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PDZ Holdings proposes RM65.4mil capital reduction
PDZ Holdings Bhd has proposed cancelling RM65.4 million of its issued share capital to offset accumulated losses, trimming its issued capital from RM158.57 million to RM93.17 million without changing the number of shares. The exercise, subject to shareholder approval at an EGM, is targeted for completion in the first quarter of 2027.
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Sarawak to receive US$1 billion investment for downstream petrochemicals in Bintulu
Sarawak is set to receive an estimated US$1 billion investment from Indorama Ventures together with two Japanese companies, Sakura and HighChem, to develop gas-based downstream products in Bintulu. Premier Abang Johari Tun Openg said the matter was discussed during his official visit to Thailand for GASTECH 2026, with detailed talks to follow with Sarawak Petchem.
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GFM Services' Pengerang turnaround orders rise to RM268.7mil after revision
GFM Services Bhd said the combined gross estimated value of four release orders for the first major turnaround cycle at the Pengerang Integrated Complex in Johor has risen to RM268.7 million. The increase follows a revised release order from Pengerang Refining Company Sdn Bhd to its indirect 60%-owned subsidiary Shapadu CR Asia, which lifted that package by RM37.4 million to RM104.2 million.
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Firms return to China as tariff-driven shift abroad proves hard to replicate
Companies that moved production out of China to dodge US tariffs are bringing orders back, citing China's supplier networks, skilled labour and reliable power. Dawang Metals in Dandong, a Hangzhou furniture exporter, Target and Shein are among those reversing or scaling back overseas operations. The shifts come ahead of an expected Trump-Xi meeting this month.
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Union urges former True Group staff to seek aid after firm's winding up
Singapore's SMMWU union is urging former True Group employees to come forward for assistance following the company's winding up. A job-matching session is set for 17 September, and eligible Singaporean or PR workers can get extra career support through the SkillsFuture Jobseeker Support scheme.
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AmFIRST REIT divests weak assets in portfolio repositioning
AmFIRST REIT is repositioning its portfolio after years of lacklustre performance, divesting lower-yielding and non-core assets such as AmBank Group Leadership Centre and Menara AmFIRST. CEO Chong Hong Chuon said the asset portfolio has not generated enough yield to pay a dividend, while chairman Azlan Baqee Abdullah noted the last acquisition was Mydin Hypermall in Bukit Mertajam over a decade ago.
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More Singapore workers take on AI agent manager roles as firms adopt agentic AI
Companies in Singapore are increasingly deploying agentic AI, and employees are taking on the role of managing these digital agents, directing them and checking their output. A survey of 200 firms found 92 per cent are exploring or using agentic AI, up from 69 per cent last year, with AI expected to support 47 per cent of tasks within two years. Analysts say jobs are being redesigned and workers upskilled rather than replaced wholesale.
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GXBank secures RM21mil IFC first-loss cover for RM470mil MSME loan push
GXBank has obtained up to US$4.95 million (RM21 million) in first-loss coverage from the International Finance Corp, which it says is the first risk-sharing arrangement of its kind for a Malaysian digital bank. The facility supports a target loan portfolio of up to US$110 million (RM470 million) for micro, small and medium enterprises lacking conventional credit histories. GXBank says 15,000 MSMEs have opened digital accounts and more than 5,000 loan drawdowns have been made so far.
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FGV appoints independent firm for forensic audit
FGV Holdings Bhd, a subsidiary of Felda, has appointed an independent audit firm to carry out a forensic audit involving an entity with corporate links to the group. Felda said similar appointments are being made at several other subsidiaries, in line with recommendations from the prime minister, the MACC and the Felda 2030 special committee. The move is aimed at strengthening governance, accountability and transparency across the Felda group.
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M&A Equity Holdings clarifies media reports on Next Lion and Zetrix AI
M&A Equity Holdings Berhad has issued a clarification on media reports concerning Next Lion Holdings Limited and Zetrix AI Berhad. The announcement was filed with Bursa Malaysia on 14 September 2026 as a general announcement for a listed company.
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MN Holdings unit extends MOU with Founder Energy
MN Holdings Berhad announced that its wholly-owned subsidiary MN Power Transmission Sdn Bhd has extended a memorandum of understanding with Founder Energy Sdn Bhd. The announcement was made to Bursa Malaysia on 14 September 2026. No location or financial terms were disclosed.