Malaysia Money Matters Daily News Podcast

In today’s episode, we track a market environment where capital is shifting defensively — with some sectors scaling back, others leaning into data-driven growth, and policymakers facing the real pressure of turning plans into execution.Corporate Shifts & Capital Reallocations💡 D&O Green Shelves Plant 3, Prioritises Debt Cut* Redirecting RM213M raised funds:* RM127M to pay down debt* RM86M for machinery upgrades* Strategy: Lower risk, lower interest burden, focus on operational efficiency over expansion🚨 NexG’s Auditor Walks Amid Board Changes* Baker Tilly resigns after just 4 months* Trigger: “Significant board changes” post government contract wins* Red flag: Signals instability, undermines investor confidence💄 1 Doc International Files for IPO — But 40% Exit* Plans to open 31 new outlets* However, 40% of proceeds will go to existing shareholders cashing out, including the founder* Dual signal: Expansion + insider exit🏭 Greatech Surges on Data Centre Exposure* Stock hits record 1-day gain* 23% of order book now tied to data centre automation* Strategy: Pivoting beyond solar/EV into AI infrastructure — a defining 2026 trend💻 Infomina Posts 2.6% Profit Growth, Declares Big Dividend* Payout nearly matches earnings* Confidence in cash flow sustainability, despite a cautious broader tech sentiment🏚️ Vestland Terminates RM500M Housing Contracts* Mutually cancels 3 Selangor affordable housing projects* Work hadn’t started; signals sectoral pullback due to cost or demand uncertainty🚗 Chin Hin’s RM74M Divestment Falls Through* Sale of vehicle biz cancelled after buyer failed to secure financing* Plan to refocus on property now delayedMacro Outlook & Market Signals📈 Maybank IB Bull Case: KLCI at 1,850* Driven by banking earnings & ringgit tailwinds* BMI sees OPR staying at 2.75% throughout 2026 — supporting domestic demand🏠 REHDA Report Flags M40 Housing Crisis* Home ownership for M40 drops to 75.9%, now below B40* Root issue: Cross-subsidy policies distorting prices, pushing middle class out of ownership🏛️ 14 Ministries Miss 2025 Development Targets* Revealed by Chief Secretary* Reinforces gap between headline plans and actual project delivery💰 SME Loan Guarantees Holding Steady* Finance Ministry says NPLs at ~2% for CGC-backed loans* Suggests financial system still absorbing risk well🚊 RTS Link Customs Bill To Be Tabled* Next step for Johor Bahru–Singapore rail link* Key sign of policy moving from planning to executionRegional & Global Signals🌴 Indonesia Cracks Down on Illegal Forestry* Military-led task force targeting plantations & mines* Impact: Palm oil prices spike on supply uncertainty📱 Thailand’s TikTok Preempts Election Risks* Blocks candidates from running ads* Target: Prevent AI-generated deepfakes ahead of upcoming vote🛢️ Oil Drops >3% on Trump’s Iran Comments* Cooling geopolitical tensions* Risk premium vanishes overnight, highlighting fragility of oil sentiment🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

In today’s episode, we unpack how Malaysian companies are recalibrating for resilience while regulators push reforms — all against a backdrop of AI acceleration, a blistering commodity rally, and mounting pressure on global trade policy.Corporate Moves & Strategic Realignments🛢️ Hengyuan Plots Return to Profit* Rights issue: RM234M raised for long-term feedstock supply* Strategy: De-risk from volatile spot markets, supported by Budi95 subsidy and short-term hedging* Target: Break 3-year loss streak in FY2026⚡ TNB Finalises LTMS 2.0 Energy Highway* Power wheeling from Laos → Singapore via Malaysia & Thailand* TNB earns toll-like fees for grid use — stable, capital-light income stream* Regional integration without new infrastructure spend🔎 Hibiscus Petroleum Finds New Gas in Australia* Discovery at Otway Basin via associate 3D Energi* Key advantage: Proximity to existing pipelines & facilities* Next step: Confirm commercial viability with lower delivery costs🏗️ TRC Synergy Bags RM249M Government Contract* Precinct 5 complex in Putrajaya* Contract size = 42% of company’s market cap* Positive visibility, but risk concentration is high✈️ AirAsia X Clarifies Name Shift & Ownership Cap* May rebrand to AirAsia amid consolidation* Capital A trims stake <33% to avoid mandatory takeover trigger* Move aligns with post-PN17 restructuring strategyMarkets, Media & Diverging Strategies🧸 Semico Capital Surges 50% on Debut* Strong demand on ACE Market* Signals appetite for smaller caps with differentiated consumer plays📰 Foodie Media Posts Record Q1 Profit* RM3.78M post-IPO earnings* Reflects shift in ad budgets to performance-based digital contentPolicy, Reform & Regulatory Shifts💼 Expatriate Work Pass Rules Overhauled* Effective June 1, 2026:* Minimum salaries doubled for most categories* Category I: RM20,000/month* Permit validity: Up to 10 years* Goal: Attract only high-skilled expats and boost local hiring & automation🌿 Sabah’s MA63 Entitlement Talks Resume* 2nd round of negotiations underway* Seen as a signal of good faith in delivering promised revenue shares🧾 Anti-Dumping Case Heads to Federal Court* Key question: Must govt disclose how duties are calculated?* Could set precedent for trade transparency and protectionism reviews🪪 MyDigital ID Update* Mandatory for Johor entry point users starting Jan 15* Trial period until Feb 29* Broader rollout still optionalGovernance & Integrity in Focus⚔️ MACC Ramps Up High-Profile Probes* Chief pushing to close multiple major corruption cases* Includes army procurement linked to senior officials👑 Negeri Sembilan Ruler: Zero Tolerance for Corruption* Strong royal statement: Stop normalising support for convicted figures* Adds moral weight to ongoing reform effortsGlobal Themes: AI Cycle & Resource Rally🧠 Nomura Says ‘No Bubble’ in AI* Argues 30%+ earnings growth supports valuations* Compares current cycle to 1997, but with real cash flow from chips & data centres* AI seen as productivity enabler, not hype🪙 Silver Tops US$90/oz Amid Broad Commodity Surge* Driven by:* Anticipated Fed rate cuts* China optimism* Geopolitical risk* Gold & copper also continue strong uptrend📦 US Supreme Court Delays Ruling on Trump-Era Tariffs* Stakes: Over US$130B in potential refunds* Could trigger a supply chain reset depending on outcome🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

Today’s episode breaks down how corporate consolidation, ambitious regulatory reforms, and global capital flows are reshaping Malaysia’s economy. From takeover math to expat salary shocks, we decode what’s real and what’s next.Corporate Strategy: Consolidation, Rebranding & Divergence💼 Sunway–IJM Takeover: The Valuation Gets Complicated* RM1B offer (cash + shares) now faces scrutiny* Why? New Sunway shares won’t receive dividends from upcoming Sunway Healthcare IPO* Analysts peg that dividend in specie at 18 sen/share, making the deal less attractive* Result: IJM shareholders may push for revised terms✈️ Capital A Recovery Plan Nears Completion* AirAsia X share distribution set for Jan 16* Unlocks Capital A’s ability to apply for PN17 exit on Jan 19* AirAsia X to be renamed ‘AirAsia’, unifying short/medium-haul brands📈 ACE Market Momentum* 🎮 Semico Capital (toy distributor): IPO pops +50% on debut* 📱 Foodie Media: RM3.78M record quarterly profit — a post-IPO breakout* Signal: Ad spending is flowing fast into performance-driven digital content🏙️ Real Estate Divergence* Selangor Dredging: RM63M land deal in Petaling Jaya* Planned GDV: RM500M+ for serviced apartments* Velocity Capital Partners: Sold entire MMAG Holdings stake at a loss* Exit value: RM9.43M — a strategic retreat amid downside riskRegulation & Long-Term Policy Shifts🌱 Sarawak Introduces Carbon Levy on O&G* New climate fund financed by levies from oil, gas, energy sectors* Objective: Fund conservation and grid modernization* Takeaway: Sarawak moves beyond rhetoric into policy-led sustainability💼 Expat Policy Overhaul Announced* Minimum salary for all expat categories to double by June 2026* Category I minimum: RM20,000/month* Aims to promote high-value domestic employment* ⚠️ Companies relying on mid-tier foreign talent must adapt quickly♻️ Biofuel Market Gets More Transparent* MPOB to launch reference price for used cooking oil (UCO)* UCO is a key feedstock for sustainable aviation fuel* Move aims to protect smaller players in a booming export marketLegal Landscape: Defamation, Dismissals, and Judicial Integrity🗞️ Hannah Yeoh Wins RM250K Defamation Suit* Target: Former IGP Musa Hassan* Court signals: Authority ≠ license to spread falsehoods❌ Najib’s Suit Against Tommy Thomas Dismissed* Court rules the suit is premature, effectively halting it for now⚖️ Chief Justice Issues Strong Statement* Accountability lies in reasoned judgments, not public rebuttals* Judges told to issue rulings promptly to maintain trust and efficiencyGlobal Snapshot: Central Bank Independence & AI Surge🏦 Fed Chair Powell Backed by Global Central Bankers* Response to Trump-era DOJ subpoenas* Reinforces the vital need for monetary policy independence* Markets reacted fast:* 🟡 Gold surged to US$4,631.19/oz* 💵 USD weakened, bond yields dipped📉 US Core CPI Inflation Cooled in December* Rose just 0.2% — bolstering rate-cut expectations🧠 AI Arms Race Accelerates* 🇰🇷 SK Hynix investing US$12.9B in new HBM packaging plant* 🤝 Apple + Google confirm multi-year AI deal: Google’s tech to power Siri* Message: Even rivals are collaborating to keep up with AI demand🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From an RM11B corporate mega-deal to legal gridlock in Sarawak’s gas sector — plus a global jolt as the US Fed Chair gets subpoenaed — today’s episode dives into how strategic consolidation, constitutional clarity, and global credibility risks are reshaping Malaysia’s economic outlook.Corporate Restructuring & M&A💥 Sunway Proposes RM11B Acquisition of IJM Corp* Cash + share deal at 14.5% premium to IJM’s last price* Combined GDV could hit RM118.1B* Construction order book would jump to RM13B* Critical infrastructure assets: BESRAYA, NPE, LEKAS, WCE* Why It Matters: This creates a regional infrastructure & property powerhouse with diversified, long-term cash flow and scale advantagesLegal Uncertainty in the Energy Sector🔥 PETRONAS Files Motion Over Sarawak Gas Law Conflict* Seeks Federal Court ruling on clash between PDA 1974 and Sarawak’s 2016 Gas Ordinance* Triggered by Petros’ refusal to pay for August 2024 gas delivery* Stakes: Legal clarity needed for billions in long-term investment* Key Analogy: “Two traffic lights at the same intersection” — investment gridlock until one authority is affirmedCapital Markets & Visibility🆕 Bursa Launches ‘Quality 50’ & Shariah Indexes* Highlights fundamentally strong companies outside KLCI* Metrics: Profitability, ROE, capital structure* Boosts visibility for overlooked yet sound-listed firms🌬️ One Gasmaster IPO: RM23.25M Raise* Tapping demand from stricter Clean Air Act compliance* Target markets: Johor, Penang, Terengganu* Funds earmarked for expansion in industrial air systemsStability vs Delisting💧 Insights Analytics: RM58.4M water grid subcontract⛴️ Orkim: Secures 2-year marine transport contract from BHPetrol🆘 Malpac Holdings: Delisted Jan 13 after failed appeal* Zero revenue since 2012 — reminder that legacy ≠ viabilityGlobal Shockwaves⚖️ US Fed Chair Subpoenaed by DOJ* Jerome Powell hit with grand jury subpoena* Officially tied to building renovations, but Powell alleges political interference* Immediate Market Reaction:* Gold spikes to all-time high* US dollar weakens* Raises fears of compromised central bank independence* Why It Matters: Erodes global trust in US monetary policy stabilityDomestic Legal Developments📂 Zahid’s Case: Officially Closed* AG confirms ‘no further action’* Justified via six representation letters* Closure invoked under Article 145 of the Constitution* Comes amid continued public debate about prosecutorial discretion⚖️ Chief Justice Responds to Judicial Scrutiny* Warns judges: “Stand the heat” and deliver judgments promptly* Emphasises accountability through written rulings, not public rebuttals* A clear internal message reinforcing discipline and transparency🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From record FX reserves and billion-ringgit funding plans to property speculation risks and US‑China tech friction hitting local financing — today’s episode traces how Malaysia’s economic defenses are being tested in a far more fragmented global landscape.Macro Stability & Financial Signals💰 BNM Reserves Hit US$125.5B — Highest Since 2014* Up US$1.2B by end‑2025* Covers 4.7 months of imports* Acts as a crucial buffer against geopolitical shocks and capital volatility🛡️ Why It MattersStrong reserves reduce currency vulnerability and give policymakers room to maneuver as global risks intensify.Corporate & Market Developments📜 Sunway Proposes RM10B Perpetual Sukuk Wakalah* Shariah‑compliant, no fixed maturity* Non‑dilutive funding for growth and refinancing* Enhances long‑term balance sheet flexibility✈️ Capital A: AAX Share Distribution Delay ‘Not Material’* Bursa rejected extension, but restructuring timeline merely shifts to Jan 19, 2026* Market views this as a technical adjustment, not a derailment🚰 Steady Contract Wins Signal Earnings Visibility* Insights Analytics: RM58.4M water grid subcontract in Sarawak* Orkim: 2‑year marine transport job from BHPetrol* Both reinforce predictable medium‑term cash flows⚠️ Malpac Holdings to Be Delisted Jan 13* Appeal failed after zero revenue since 2012* Ends a 35‑year Bursa listing* A stark reminder: listings require viable operations, not legacy presencePolicy, Property & Energy Transition🏗️ Johor–Singapore SEZ Talks Accelerate* Economy Minister meets Singapore counterpart* Momentum building toward RM100B JS‑SEZ vision🏠 Property Caution Flag Raised in Johor* Consultants warn of speculative excess, especially outside RTS & SEZ corridors* Optimism may be running ahead of fundamentals⚡ Malaysia Ramps Up Gas, Cuts Coal Dependence* December saw higher gas‑fired power generation* Supported by stronger domestic gas output* Positions natural gas as the dominant transition fuel post‑2030Political & Legal Headlines🏛️ Zahid Hamidi Seeks Full Acquittal in Yayasan Akalbudi Case* A DNAA would leave room for future charges* Full acquittal would bring final legal closure👮 MACC Detains Former Army Chief in Graft Probe* Reinforces expanding focus on defence‑linked procurement🧥 Albert Tei Sues MACC Over Lock‑Up T‑Shirts* Claims humiliation and breach of presumption of innocence* Challenges MACC’s public display practices during arrestsGlobal & Geopolitical Spillovers🏦 US‑China Tech War Hits Local Financing* Banks decline to finance a Malaysia‑based data centre due to China links* Concerns tied to US restrictions on advanced Nvidia AI chips* Shows geopolitics directly influencing domestic credit decisions🧠 Samsung Profits Triple on AI Memory Demand* Record quarterly operating profit* Highlights uneven winners in the global AI supply chain🌍 US Withdraws from 66 Global Climate Bodies* Includes IPCC and UNFCCC* Trump also proposes US$1.5T military budget (2027)* Signals retreat from multilateralism and more confrontational geopolitics* Claims US control over Venezuelan oil could last “for years”🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From billion-ringgit energy contracts and high-stakes property plays to ongoing anti-graft crackdowns and fresh volatility in global oil and tech supply chains — today’s episode charts the forces shaping Malaysia’s markets as 2026 gains momentum.Corporate & Market Developments🛢️ Vantris Energy Secures RM1.4B from Petronas* Two major offshore transport and installation contracts* Earnings visibility extended through 2029* Signals Petronas’ long-term domestic investment strategy🛢️ Hibiscus Petroleum Boosts UK Oil Reserves* Teal West field upgraded by 32%* Adds 4.5M barrels, helping hit 35,000 b/d target by 2027🏗️ Paramount Makes Strategic Land Grab in Putrajaya* Acquires 2.62 acres for RM40M, plans high-rise project* GDV estimated at RM323M near central transit hub🖨️ Tien Wah Press Converts Print Land into Data Center* Partnering with MyTelehaus to develop digital infrastructure in Petaling Jaya* Repurposing idle land for high-growth sectors📈 Market Outlook: KLCI Seen at 1,800+ by Year-End* CGS International forecasts 7.9% upside on 8.5% corporate earnings growth* Gamuda gets 20 buy calls out of 21 analysts – raising questions on consensus riskGovernance, Policy & Legal Headlines⚖️ MEX II Sukuk Legal Fallout Widens* HSS Engineers’ associate sued by bondholders* Alleged improper construction certification on RM1.38B project* Liability risk rising amid scrutiny of professional standards🪖 MACC Detains Ex-Army Chief & Family in Graft Probe* RM2.4M in cash seized* Latest sweep in expanding procurement cartel crackdown⛽ Budi Madani Quota Remains Unchanged (For Now)* No new income-based restrictions for RON95* Focus stays on stopping corporate and foreign abuse first🚆 LRT3 Shah Alam Line Still Delayed* No testing date yet due to contractor issues* Public frustration rising amid urban transit bottlenecks⚖️ Mobile Labour Court Launching August 2026* Increases rural access to justice* Prevents income loss from travel for wage disputes📜 Renong-UEM Case Officially Ends After 25 Years* Federal Court dismisses Tan Sri Halim Saad’s final appeal* One of Malaysia’s longest-running legal sagas finally closedGlobal & Geopolitical Pulse🛢️ Oil Prices Dip on US-Venezuela Deal* Washington allows up to US$2B in crude imports* China slams move as “bullying” — further raising diplomatic tension🔬 China Targets Japan with Chip Material Probe* Anti-dumping investigation into dichlorosilane, vital for semiconductors* Trade war flares again, creating new global supply chain risks🇺🇸 US Freezes $10B in Federal Aid to Blue States* Citing fraud, Trump administration halts child care and family aid* Affects millions of households, raising domestic political temperature🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From AirAsia X’s long-awaited cleanup to a billion-ringgit sukuk dispute and a fresh regulatory push on MSMEs, today’s headlines paint a picture of Malaysian firms under pressure—and adapting fast. Meanwhile, global markets cheer AI gains, but early cracks are showing in the EV sector and commodity trade.Corporate Strategy & Restructuring✈️ AirAsia X Consolidation Inches Forward* Bursa rejects Capital A’s extension request for AAX share distribution* AAX gets short reprieve until Jan 19 for share placement* Tune Group sells nearly 15% stake to a travel agency to meet public float* A critical step toward Capital A exiting PN17 status🃏 Mega Fortris Cancels Macau Expansion* Ditches plan for new playing card plant abroad* Instead adds a second line at Shah Alam facility* Saves RM11.2M in capex, doubles output to 44M decks/year* Clear pivot toward domestic cost efficiency⚠️ HSS Engineers Faces RM1.3B Legal Risk* Associate HSS Integrated sued by MEX II sukuk holders* Investors allege improper certification of work and breach of duty* They hold 43.33% of RM1.38B sukuk issuance* Spotlight on professional standards and bond accountabilityRegulatory & Policy Front🛡️ MACC Detains 17 Directors Over Army Cartel Probe* 9 men and 8 women remanded in defence tender bribery investigation* Signals intensified anti-corruption enforcement in public procurement💰 Datuk Fazlisyam Named Head of Anti-Money Laundering Unit (AMLA)* Strengthens Malaysia’s regulatory coordination ahead of global reviews🏦 BNM Rolls Out RM2.5B MSME Financing Facility* Targets first-time borrowers with 10B in CGC loan guarantees* Policy push to deepen financial inclusion👩‍💼 LiKES Internship Program Cuts Red Tape* Upfront RM2,000 grant per trainee* Approval time reduced from 90 days to just 14🏥 Healthcare & Regulation* Rakan KKM premium model launches at Hospital Cyberjaya in Q1* Vaping ban starting with open-system devices prioritised for 2026 rolloutGlobal Trends & Market Signals📈 Asia Markets Soar on AI Optimism* Chinese equities hit 4-year high, SEA indices at records* Risk-on sentiment ignores geopolitical tension⚙️ AI Hardware Race Escalates* AMD launches MI440X chip, a direct competitor to Nvidia* Nvidia shares down 8% from peak🔋 EV Slowdown Begins* 2026 global EV sales growth forecast at 12%, sharply down* US to contract 15%, China cuts subsidies* Signals end of early adopter phase, raises questions about battery tech plateau🥉 Copper Hits Record US$13,000/Ton* Driven not by demand—but US tariffs tightening global inventory* Adds new friction to global supply chains🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2026!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

We kick off the new year with a critical look at a RM1.38B sukuk lawsuit shaking up infrastructure finance, insider exits at tech firms, aggressive land acquisitions, and bold regulatory reforms targeting business costs.With global shocks like Venezuela’s political upheaval now impacting oil flows, it’s a high-stakes week on every front.Corporate & Market Developments⚖️ RM1.38B Sukuk Lawsuit Targets CIMB* 14 sukuk holders file suit over MEX II highway project* Allegation: CIMB failed to ring-fence funds, leaving project incomplete* Test case for accountability in Islamic finance* CIMB expects no material impact, but reputational risks loom large🚪 Farhash Wafa Exits MMAG Holdings* Sells entire 19.9% stake for RM87.32M* Sale price of 18.9 sen per share was more than double the market value* High-premium exit follows sharp stock decline in 2025🏘️ Sunway Acquires RM180M in Land for GDV > RM1B* New parcels in Puchong, USJ 1, George Town* Strategy: Focus on integrated, transit-oriented developments* Glomac sells Puchong land for RM97.3M to unlock value and reduce debt🔧 Apex Healthcare Delisting After Takeover* Pharmora completes acquisition* Solid healthcare player exits public market spotlight📈 Insights Analytics Hits Limit Up* Boosted by CIMB Securities coverage, projecting 52% annual earnings growth💻 Zetrix’s AI Age Verification Gets Mimos Endorsement* Blockchain-based age-check tech aligns with under-16 social media policy* Signals government’s preference for decentralised, privacy-first digital identity toolsGovernance, Policy & Legal Headlines🧾 2026 SME Reforms Announced by PM Anwar* E-invoicing deadline delayed to 2027 for small businesses* Service tax on rental for existing SMEs cut from 8% to 6%* Moves aim to reduce pressure and support domestic consumption🏢 MACC Launches Army Procurement Probe* Targets 26 companies and their owners* Expands previous graft investigations into systemic corruption in defence dealsGeopolitics & Global Macro Shocks🛢️ Maduro Captured in Venezuela* US military operation sparks global market volatility* Oil prices spike; dollar and gold rally* Raises uncertainty for China and Russia’s energy investments🌍 Malaysia’s KLCI Targeted at 1,821 Despite Outflows* RM94M net foreign outflow last week* Optimism driven by tight labour market, salary hikes, cash aid* Domestic institutions and retail expected to bridge the foreign capital gap🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

We close out 2025 with a high-stakes look at the capital reshuffling, political fragmentation, and geopolitical undercurrents that will shape Malaysia’s financial reality in 2026. From Apex Healthcare’s privatization to US-China tech warfare, this final episode of the year sets the tone for what’s ahead.Corporate & Market Developments🏥 Apex Healthcare Goes Private* Pharmora crosses the 95% ownership threshold, triggering compulsory acquisition* Signals a strategic shift away from public market scrutiny toward long-term structural optimization💳 Genting’s RM3B Refinancing Play* Issues its first-ever RM3B medium-term notes* Proceeds used to retire older debt, locking in longer-term stability ahead of potential global shocks💡 Cypark Resources Redeems RM235M Perpetual Sukuk* Frees itself from high-cost hybrid debt* Strengthens balance sheet and signals renewed financial discipline🏗️ Citaglobal Locks in Stake in Massive Logistics Hub* Through a share swap with Datuk Shabaruddin Ibrahim, gains ~13% effective stake in Mutiara Perlis* Strategic exposure to the US$6.5B Perlis Maritime Corridor (PMC) project🚧 Maju Holdings Faces Judicial Management Bid* A creditor applies for interim court protection over debt issues tied to the MEX highway* A clear signal of financial distress and potential restructuring⚖️ Chin Hin Takes Exyte to Arbitration* RM201M claim over Intel Pelican Project* Includes a 795-day extension request—an industrial delay of over 2 yearsRegulatory & Legal Headlines🚨 Najib Razak Files Appeal on 1MDB Conviction* Legal saga enters a new phase heading into 2026🪧 PN Leadership Fractures* Muhyiddin Yassin and Azmin Ali to resign Jan 1* PAS signals readiness to take over Perikatan Nasional’s leadership* Political instability now front and center for 2026 outlook🧾 KLIA Customs Checks Moving to Gates* Begins January 1st, aims to reduce congestion and improve flow👷 Special Foreign Worker Quota Window Opens Jan 19–Mar 31* Applies to all sectors* Policy aims to streamline workforce planning across industriesGlobal Macro Forces & Commodity Signals🖥️ China Doubles Down on Chip Self-Sufficiency* Mandates 50% local equipment for all new chip factories* Sharp response to ongoing US export controls📈 Commodities Surge on Policy-Driven Supply Fears* Copper on longest winning streak since 2017* Nickel hits 9-month high after Indonesia supply cut hint* OPEC+ likely to pause output hikes to avoid 2026 oversupply💰 Ringgit Closes 2025 Up 9%* Powered by corporate cleanup, strong inflows, and regional AI momentum* Question now is whether it can hold that strength amid growing political volatility Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

As 2025 winds down, we dig into the strategic moves, regulatory decisions, and macro trends shaping Malaysia’s financial and corporate landscape heading into 2026. From surprise shareholder moves to global AI infrastructure plays, this episode ties it all together.Corporate & Market Developments💼 Tabung Haji Buys into D&O Green Tech* Becomes substantial shareholder (5%+) after D&O reports a RM169M quarterly loss* Loss driven by inventory impairments, not core business decline* Tabung Haji sees long-term undervaluation and a chance to enter at a discount🌏 Infomina Secures Recurring Revenue in Thailand* Signs 3-year deal with Siam Commercial Bank worth US$34M* Locks in regional software support income, boosting predictability📈 Kee Ming Group IPO Approved* Backed by Solarvest, aiming to raise funds to pursue larger industrial and clean energy projects🎮 Semico Capital Targets Listing Amid High Margins* Boasts margins of 43–49%, but with 42% revenue concentration on two clients, risk is high* One to watch closely for post-IPO volatility🛢️ Hibiscus Petroleum Associate Pauses Drilling* At Charlemont-1 in Australia due to unexpected high-pressure gas pocket* Safety-led pause to redesign well and proceed cautiously📶 Maxis Restores Service* Connectivity restored for ~3,000 customers in Kuala Kangsar after prior disruption🏙️ PNB Merdeka Ventures Names New CEO* Datuk Izwan Hasli to lead Merdeka 118 & mall launch beginning Jan 2026Governance & Legal Updates💸 MACC Ends 2025 With Two High-Profile Probes* Army procurement investigation – 6 bank accounts seized, senior officer involved* Former minister questioned over alleged RM5M bribe & Lamborghini gift tied to controversial land deal⚖️ Judiciary Gets First Pay Hike in Over a Decade* 30% salary increase for top judges* Designed to protect judicial independence and reduce conflict-of-interest risk🚫 Najib Razak Appeals House Arrest Rejection* Appeal follows High Court ruling declaring the royal addendum invalid👶 MyCC Probes 31 Childcare Centers in Kelantan* Alleged price fixing via agreed floor pricing* Centers have 30 days to respond🏢 Landmark Ruling on JMBs in Mixed Developments* High Court: JMBs can legally charge different maintenance fees* Prevents non-users from subsidizing exclusive facilities* Huge precedent for strata property planning and sales strategiesMacro & Global Trends🏭 Malaysia PPI Falls Again* Producer Price Index down 1.8% in Nov* Reflects factory-gate deflation, mirroring similar trends in Thailand and across Asia🤖 AI Infrastructure Boom Accelerates* Nvidia invests US$5B in Intel* SoftBank acquires DigitalBridge for US$4B* Focus shifting from hype to physical infrastructure — data centers, chips, power🇨🇳 China Warns on Yuan Speculation* After 4% appreciation, state media urges caution* A stronger yuan risks hurting exports and worsening domestic deflation* Beijing signaling it may recalibrate policy if needed Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

As Malaysia rides a wave of foreign capital and domestic strategic hedging, today’s deep dive explores how global macro tailwinds and sharp local execution are shaping the nation’s 2026 outlook — from billion-ringgit LNG prepayments to courtroom clarity on royal powers.Corporate & Market Developments🏦 Amova Buys 98% Stake in AHAM Asset Management* Japan’s Amova Asset Management acquires near-total control of AHAM, one of Malaysia’s largest fund managers* Deal reportedly values AHAM at ~RM3B, with RM100B in AUM* Signals strong international confidence in Malaysia’s financial ecosystem, especially in Shariah-compliant funds🛢️ Petronas Gas Locks in LNG Jetty Fees to 2044* Prepaid US$173.64M (RM705.67M) in fees for Pengerang LNG terminal* Move coincided with ringgit hitting a 5-year high of 4.0645/USD* A smart, long-term currency hedge to reduce exposure to future forex swings🏗️ Kimlun Secures RM617.73M in Johor Contracts* Projects include serviced apartments, houses, shop offices* Completion timelines stretch into late 2028, expanding its order book (previously RM4.2B)* Adds visibility and multi-year job security🌡️ Solarvest Buys Into District Cooling Sector* Acquires 22% stake in Solar District Cooling Group for ~RM42M* Strategic pivot into solar thermal + building management systems* Gains exposure to high-value public sector projects and non-panel renewablesLegal, Regulatory & Governance Moves📉 MyCC Targets Bid Rigging in Prison Tender* Six companies flagged in RM7.3M procurement case linked to Kluang Prison* Signals growing regulatory scrutiny of cartel behavior in public spending⚖️ Najib’s House Arrest Bid Ruled Unenforceable* High Court ruled that the alleged royal addendum was constitutionally invalid* AGC affirms the decision strengthens royal clemency by reinforcing due process via the Pardons Board💊 Temporary Relief for Clinics on Price Display Rule* High Court grants stay until Feb 2026 on rule requiring private clinics to display medicine prices* Preserves status quo, allowing medical groups time to challenge policy without penaltyGlobal Macro Context & Currency Outlook🇺🇸 US GDP Grows 4.3% in Q3 — But the Dollar Slips* Despite strong US growth, USD down 8% YTD — its worst year since 2017* Driven by expectations of Fed easing in 2026* Creates major tailwind for emerging market currencies, especially ringgit💱 Ringgit Rally Forecast to Continue* Public Investment Bank projects the ringgit could hit 4.00/USD in 2026* Appreciation boosts importer margins (raw materials, machinery), but raises a question: Are Malaysian businesses moving fast enough to capitalize on this currency window before the trend turns?🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From billion-ringgit gas deals in Mexico to precedent-setting rulings in KL, today’s developments spotlight a dual theme:📈 Deep investor confidence in long-term Malaysian assets⚖️ Firm constitutional boundaries that could shape governance for yearsCorporate & Market Developments🌊 Coastal Contracts Surges on RM4.6B Pemex Win* Stock jumped nearly 20% after JV secured RM4.64B gas processing contract from Mexico’s Pemex* Total order book now RM7.4B, with guaranteed revenue stretching to August 2035* Key takeaway: Nearly a decade of visibility, but some single-client risk lingers🏬 Valiram Acquires Lendlease’s Stake in Exchange TRX* Buying mall and office tower stakes for RM1.1B* Exchange TRX Mall posted RM2.64B in sales in its first year* For Lendlease: capital recycling* For Valiram: high-conviction bet on premium retail real estate in KL🏗️ CapitaLand Buys RM220.8M in Johor Industrial Assets* Purchase of 5 properties from AME Elite Consortium — all-cash* Strategic play on Johor-Singapore Special Economic Zone* For AME: cash boost helps exceed sales target for FY25🌬️ Yinson Locks in 15-Year Wind Energy Revenue* Signed RM1.2B power purchase agreement with Genesis Energy (NZ)* Covers output from Mt Cass Wind Farm until late 2043* A pivotal step in Yinson’s green energy transition💵 Bank Negara Reserves Hit 11-Year High* US$124.3B in international reserves* Enough to finance 4.8 months of imports* Reflects strong financial buffers that enable long-term capital inflowsPolicy, Legal & Governance Shifts⚖️ High Court Rejects Najib’s House Arrest Bid* Ruled the alleged royal addendum was unconstitutional and unenforceable* Key point: King must act with the Pardons Board on clemency matters* Sets a clear constitutional precedent for future pardon casesGlobal Trends & Geopolitical Watch📈 Gold & Silver Hit All-Time Highs* Gold up nearly 70% YTD* Driven by:* Escalating geopolitical instability (e.g. shadow fleet strikes in Russia-Ukraine)* Market bets on US Fed rate cuts in 2026* Safe haven appeal remains strong amid global risk sentiment💻 Nvidia to Resume AI Chip Sales to China — With Strings* H200 chips to ship by mid-February 2026* Conditional deal: Requires Beijing’s approval and 25% buyer fee* Signals a shift in US tech control — via trade terms, not outright bans🕊️ Thailand–Cambodia Ceasefire Talks Underway* Negotiated through ASEAN ministers in Kuala Lumpur* A positive signal of regional diplomacy at work🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From record-breaking overseas contracts and surging palm oil profits to major infrastructure incentives and a fresh fuel subsidy clarification — today’s stories reveal a clear double play: aggressive expansion abroad, and fiscal cushioning at home.Corporate & Market Developments🏗️ Gamuda Wins RM8B More in Australia* Secured RM7.32B Sydney Metro West Stations contract* Added RM718M wind farm civil works* Outstanding order book now at a record RM46B — a new high* Strategy: hedge domestic volatility by anchoring growth offshore🖥️ Sunway Construction Lands RM570M Johor Data Center Deal* Client: US-based tech multinational* Year-to-date wins: RM4.6B, pushing order book to RM6.1B* Reinforces Johor’s status as a rising tech infrastructure hub🌴 United Malacca Hits Record Quarterly Profit* Net profit up 79% to RM55.4M* Driven by 15% rise in fresh fruit bunch (FFB) output andprice hikes:* Crude palm oil: +6%* Palm kernel: +35%* Declared 7 sen interim dividend⚙️ Muhibbah Engineering Secures RM850M Petronas Job* Minor EPC works on offshore wellhead platforms (Terengganu)* Long-term play: earnings contribution expected through Q1 2029Policy, Governance & National Impact🛣️ Toll Hikes Frozen for 2026 — But at a Cost* Affects 10 major highways* Federal govt to compensate RM591.6M to maintain toll rates* Watchlist: Bina Puri, Taliworks Corp, Ekovest⛽ No Shift from Budi95 to EV Rebates* Govt reaffirms Budi95’s role as targeted fuel subsidy, not an EV incentive* Covers groups like 106,000+ e-hailing drivers* Rebuttal to suggestions of redirecting toward electrification💵 Ringgit Forecast: 4.00 by End-2026* ANZ Research sees strength driven by:* Stable BNM rate policy* Resilient local economic fundamentals* Reinforces RM stability amid global currency pressuresGlobal & Geopolitical Trends🔌 Google Challenges Nvidia with TorchTPU* New chips to work with Meta-backed PyTorch* Designed to reduce reliance on Nvidia’s CUDA ecosystem* Strategic move to lower switching costs for developers* Could shift AI chip dynamics across global markets💾 Micron’s Strong Forecast Signals Chip Surge* Q4 revenue guidance: up to US$19.1B* Driven by booming AI infrastructure demand* Suggests robust pricing power returning to memory chip players🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

As Malaysian champions like Gamuda and Scientex push overseas to secure future growth, the government is sounding the alarm on its fiscal dependence at home. Whether it’s corporate restructuring, strategic expansion, or budget rebalancing — this week is all about financial discipline in a volatile world.Corporate & Market Developments🌊 Gamuda Lands RM2.7B Australia Contract* Awarded joint venture project with Samsung C&T for Tasmania’s Marinus Link Undersea Cable* Gamuda’s share: ~RM1.34B* Anchors its strategy to double engineering revenue and profit by FY2028, acting as a hedge against domestic infrastructure volatility🧤 Top Glove’s Profit Surges Seven-Fold* Q4 net profit hit RM38.58M, up from RM5.3M* Driven by inventory replenishment, not just cost cuts* Reactivating 4 idle factories, adding 6B pieces in annual capacity🏠 YNH Property Leadership Shake-Up* Shareholders ousted the founder’s son as director* Two nephews immediately appointed, including Yu Kai Leun as Group MD* Signals a shift toward tighter execution discipline and governance🏗️ Scientex Eyes Global Acquisitions* Q1 net profit rose 11% to RM142.9M* Domestic growth seen as limited; now targeting Southeast Asia, East Asia, and the US for new expansion⚙️ Vantris Energy Ownership Shift* Formerly Sapura Energy* RHB Bank exits, shares transferred to Maybank Group (now holding 19.36%)* Key part of debt restructuring: slashing borrowings from RM10.8B → RM5.6B to exit PN17 statusPolicy, Governance & National Strategy🛢️ Anwar: Reduce Reliance on Petronas Dividends* Current dividend: RM32B (2025)* Expected drop to RM20B (2026) = RM12B shortfall* Urgent call for new growth drivers amid oil price volatility🛂 Immigration Bill Passed — New Security Mandates* Operators of ships, planes, and trains must submit passenger data* Border agents to wear bodycams, with AI-equipped CCTV at entry points* Major tech upgrade in enforcement and passenger screening⚽ FAM Faces FIFA Sanctions Again* Fielding ineligible players results in reversal of 3 matches and a CHF10,000 fine* Follows prior sanctions for falsified documents* Highlights persistent compliance failuresGlobal & Geopolitical Signals🇨🇳 MetaX Surges 693% in Shanghai IPO* Pure AI mania lifts chipmaker to eye-watering debut* Signals China’s aggressive capital support for strategic tech sectors🇺🇸 Ford Slashes EV Lineup, Takes US$19.5B Writedown* Cancels multiple electric models amid waning demand* Massive impairment highlights growing uncertainty in US EV strategy🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

In today’s episode, we break down a pivotal day defined by aggressive corporate expansion, global financial shifts, and a major political realignment at home. From Genting’s high-stakes New York gamble to a comprehensive cabinet reshuffle, the key question now is: can domestic ambition generate enough momentum to insulate Malaysia from mounting global headwinds?Malaysian Corporate & Market Developments 🎰 Genting Malaysia Secures NY License & US$5.5B Funding Resort World NYC wins near-term exclusivity for live table games by June 2026. However, net debt is set to hit RM10B as the group leverages up for this massive US bet. ⚡ TotalEnergies Powers Google’s AI Ambitions A massive 21-year deal secured to supply 1 TWh of renewable energy to Google’s Malaysian data centers. Simultaneously, the firm is divesting its SK408 Sarawak gas stake to PTTEP. 🦄 Bjak Targets Europe & IPO The insurtech unicorn plans a bold expansion into Spain and Germany by 2026, signaling confidence in scaling Malaysian tech to the West ahead of a future listing. 💰 Velesto Cashing Out Naga 3 Old rig sold for RM251M, with proceeds returning to shareholders. A classic asset-light move to optimize the fleet.📈 DNeX Joins FTSE4Good Dagang NeXchange enters the FTSE4Good Bursa Malaysia indices, validating its ESG commitment and opening doors to global green capital.Projects, Policy & Political Developments 👔 Major Cabinet Reshuffle Announced A comprehensive midterm realignment: 10 ministerial changes and 6 promotions. Key moves include Johari Ghani to MITI and Akmal Nasrullah to Economy, signaling a hard pivot toward execution. 🤝 Petronas-Petros Truce in Sight DPM Fadillah Yusof signals negotiations are progressing well, aiming for a settlement by early next year to avoid a protracted court battle over gas rights. 🚭 Full Vape Ban Confirmed Health Ministry confirms a cabinet memorandum is coming early next year to ban e-cigarettes and vapes completely, citing rising health risks. 🏗️ Bank Pembangunan Funds RTS Link Financing secured for the Coronation Square development in Johor, ensuring critical connectivity to the upcoming RTS station.Global & Geopolitical Outlook 🔔 NASDAQ Eyes 23-Hour Trading US exchange plans to launch near round-the-clock trading by late 2026. Banks warn of volatility, but global demand is forcing the shift. ⚠️ Shadow Banking Risks Hit $250T Financial Stability Board sounds the alarm on systemic risks as shadow banking assets surge, with specific concerns over murky data in private credit. 🚗 EU Reverses Combustion Engine Ban bowed to industry pressure, the EU is set to soften its 2035 ban on combustion engines. A major policy reversal driven by market realities.🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

From record IPO optimism and AI-fuelled infrastructure contracts to unresolved airport issues and constitutional state rights — today’s stories reflect a nation pushing forward, but forced to confront the fundamentals that still hold it back.Corporate & Market Developments📊 KLCI Eyes Post-Covid Highs at 1,772 PointsAnalysts cite a near-perfect alignment of forces:* Anticipated US Fed rate cuts could channel foreign inflows* Strengthening corporate earnings & election-cycle momentum* Financial and consumer stocks expected to benefit most✈️ Malaysia Aviation Group Doubles Down on Premium Vision* Revenue goal of RM24.6B by 2030* Plans include 40 new Airbus planes, 50% capacity growth* But with a baggage mishandling rate of 5.45 per 1,000 passengers, well above target, premium positioning faces basic execution risks🏗️ Pasukhas Lands RM63.6M Data Centre Job in Johor* Contract from major US tech firm equals 5.6x its market cap* A pivotal win amid Malaysia’s growing AI infrastructure boom🔋 Solarvest Bags RM171.7M Solar Project Contract* Adds to momentum with Google-linked solar deal in Kedah* Underscores Malaysia’s rising global relevance in clean energy🥇 Poh Kong Profit Soars 85.6%* Gold retailer rides on safe-haven demand* Bullish on continued strength through 2026 amid geopolitical uncertainty🛢️ Farm Fresh Co-Founder Takes Profit* Loi Tuan Ee sells RM132.5M stake at record high* Still remains the largest shareholderPolicy, Governance & Legal🏗️ KLIA Weak Links Undermine National Branding* Despite aviation sector’s global ambitions, baggage & aerotrain issues persist* Highlights the execution gap between growth targets and ground infrastructure📜 Sabah Special Grant Doubles to RM600M* Interim solution as federal govt and Sabah negotiate updated formula* Rooted in Malaysia Agreement 1963, reaffirmed by court ruling* Opposition calls for state-level economic independence beyond grants🌐 MCMC Introduces Automatic Licensing for Big Platforms* From Jan 1, 2026, platforms with 8M+ users (e.g. WhatsApp, TikTok) will be regulated like telcos* Designed to enforce local accountability, fight illegal content, and protect user safetyGlobal Signals & Economic Outlook💱 Ringgit Forecast to Strengthen to 3.95/USD* Supported by AI-driven tech investment, particularly in data centres* Stronger MYR boosts imports but squeezes exporters — a policy balancing act🇨🇳 Xi Warns Against ‘GDP Obsession’* Urges shift to high-quality growth, discouraging data inflation* Could impact Malaysian raw material exports, but opens door for strategic tech partnerships📉 Malaysia’s Growth Theme: Operational Reality* With massive sectoral ambitions from aviation to AI* Success now hinges not on vision, but on delivery and execution🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

Today’s episode cuts through the noise of big profit figures, record-breaking IPOs, and geopolitical signals to ask: what’s real, what’s sustainable, and what does it all mean for your portfolio as we head into 2026?Market & Corporate Headlines📊 Bursa Malaysia Ends 2025 with 60 IPOs — A 20-Year High* RM5.5 billion raised, reinforcing Malaysia’s Asean market leadership* But the final IPO — Wasco Greenergy — fell 12% on debut, highlighting growing investor selectiveness* CEO cited regulatory clarity in Indonesia, a market that contributes nearly 50% of Wasco’s revenue, as a key constraint🛢️ Vantris Energy (formerly Sapura) Posts RM4.27B “Profit”* But it’s not operational: RM4.47B gain came from debt forgiveness, not business growth* Core operations still in loss* New ownership by Maybank, CIMB, RHB shifts the story toward balance sheet repair, not full recovery — yet🥛 Farm Fresh Co-Founder Cashes Out RM132.5M Stake* Sold following a record-high share price* Signals confidence in value — or a strategic profit-taking move* Loi Tuan Ee remains largest shareholder🏗️ Landmark Ruling in K Residence Case* KL High Court: developers can’t offset maintenance fees with property or services* RM72.8M ruling clarifies expectations for cash settlement, setting a strong legal precedent for future disputes🚄 Gemas–JB Double Track Rail Line Officially Launched* Cuts travel time from 7 hours to just over 4* Strategic win for southern corridor mobility and regional economic productivity🌱 Jogmec–ECER Rare Earths Collaboration* Japan’s Jogmec to support Malaysia in verifying rare earth resources* Boosts upstream technical capacity in a globally strategic sectorPolicy & Legal Signals🧾 FATF Upgrades Malaysia — But Raises Concerns* Financial Action Task Force praises anti-money laundering framework* BUT: Only 52 convictions from 2,600+ cases* Enforcement bodies now under pressure to deliver real effectiveness, not just compliance optics🌐 Clarification on US–Malaysia Trade Deal* No challenge to Bumiputera rights in trade pact* Govt reiterates strategy of active neutrality: Malaysia remains open to both US and China without sacrificing core policiesGlobal Market Moves🏦 US Fed Cuts Rates by 25bps, Signals Long Pause* Only one more cut expected through all of 2026* Disappoints markets that had priced in a faster easing cycle* Adds uncertainty to rate-sensitive assets and global capital flows💻 Tech Selloff Led by Oracle’s AI Warning* Oracle shares slumped 13% after forecasting lower earnings and surging AI infrastructure costs* Raises big investor questions:How long can Big Tech burn billions on AI before results justify the spend?🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple Podcasts Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

In today’s episode, we connect the dots between delayed infrastructure, booming industrial property, and a massive legal victory that could redefine investor confidence. As global tensions simmer and domestic reforms sharpen, Malaysia’s challenge is clear: deliver on ambition while preserving credibility.Malaysian Corporate & Market Developments🚇 LRT3 Shah Alam Line Delayed Indefinitely* Misses Dec 31 operations target due to 33 unresolved software glitches* Silver lining: Fixed-price contract shields the government from cost overruns — but the opportunity cost for businesses and commuters is mounting🏘️ Eco World Hits Record Earnings, Eyes RM4B in Sales* All-time high profit driven by booming industrial property* Land deals with Microsoft and Pearl Computing (Google affiliate) underscore Malaysia’s rising data center appeal🏗️ Gamuda Posts 5% Profit Rise, Declares Dividend* Strong Q1 on domestic infrastructure and fast-executing overseas projects like Eaton Park in Vietnam* Declares 5 sen interim dividend, signaling balance sheet resilience📈 DKSH Holdings Shares Surge on Privatization Offer* Offered at RM6.15/share, a 16.7% premium* Seen as a timely and fair exit for shareholders amid persistent low liquidity🩺 LAC Med Debuts with Modest Gains, Eyes Indonesia* Marginal day-one rise, but outlook buoyed by higher margin expectations in Indonesia’s growing healthcare sectorPolicy & Governance Headlines⚖️ Malaysia Wins Landmark Sulu Arbitration Case* Paris Court annuls entire US$14.9B award* Court ruled the arbitrator lacked jurisdiction* Claimants must pay €200,000 in legal costs — major boost to sovereignty and rule-of-law perception💻 Semiconductor Strategy Attracts RM54.9B in Investment* Over 25,000 jobs created in H1 2025* Reinforces Malaysia’s role in the global chip value chain👷 Govt Drops Controversial RM10,000 Penalty Clause in EIS Bill* Cabinet postpones clause following industry backlash* Reflects responsive governance aimed at balancing business viability with worker protection🧭 Sultan of Selangor Warns Against Overreach in State Autonomy Push* Urges states to prioritize national interest over regional political ambitions* Timely call for cohesion amid growing federalism debateGlobal & Geopolitical Outlook📉 US Labor Cost Growth Slows to 0.8%* Encouraging sign for inflation watchers, despite tariffs still adding pressure to final prices🌏 Thailand-Cambodia Tensions Escalate* Renewed border skirmishes prompt Cambodia’s withdrawal from SEA Games* Raises red flags on regional diplomatic stability🏦 IMF Urges China to Boost Domestic Spending* Calls for a “brave” shift from export reliance to internal consumption* Aimed at easing global trade tensions and reviving China’s growth engine🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

In today’s episode, we explore the complex push and pull between market expansion, political accountability, and global volatility. From EPF’s strategic stake in TNB and a bold new state-backed digital currency to glove sector pains and growing regional instability — the signals are clear: long-term bets now require sharper short-term risk management.Malaysian Corporate & Market Developments⚡ EPF Becomes Largest Shareholder in TNB* Acquires Khazanah’s 2.33% stake (RM1.69B)* Raises holding to 21.25%, signalling deeper state-linked focus on national infrastructure and long-term stability🏥 DKSH Holdings to Go Private at RM6.15/Share* Offer from parent company DKSH Resources* 16.7% premium offers exit for minority shareholders, but highlights broader liquidity fatigue in public markets📊 Bursa Shifts IPO Strategy: Focus on Quality Over Quantity* Post-2025, emphasis on scalable, globally competitive listings — especially Bumiputera-led firms🚢 Orkim’s Debut Marks Steady Start for O&G Shipping Sector* 1% gain on listing* Govt hints at extending 100% tax exemption, providing fuel for industry fleet renewal🪙 Johor Launches RMJDT Digital Currency via Zetrix Blockchain* State-backed stablecoin aimed at easing cross-border trade settlement* Signals Johor’s ambition to lead in decentralised finance (DeFi)🏭 Empyrion Digital Gets Greenlight for 200MW Data Center in Johor* Has secured 145MW from TNB* Project driven by AI infrastructure demand, reinforcing Johor’s data hub status🧤 Glove Makers Hit by Stronger Ringgit* Ringgit up 9% YTD vs USD* Margins squeezed as export revenues fall against rising input costs in local currency🌊 Jentayu Sustainables Faces Legal Delay on Project Oriole* Shareholder challenge threatens to delay financing for Sabah hydro plant* Execution risk rises amid green energy buildout Policy & Governance Headlines⚖️ 1 in 3 Politician Graft Cases Withdrawn Since 2018 – NGO Report* Raises red flags on prosecutorial consistency and institutional transparency💸 IDEAS Pushes for Political Financing Act* Seeks mandatory disclosure of spending on political influencers, to curb opaque campaign funding🧾 Govt Reaffirms: No GST Revival, SST to Stay* Income levels still too low, says Finance Ministry* Targeted fiscal policy to support consumer affordability🚗 Traffic Summonses Will Not Affect BUDI95 Eligibility* Confirmation offers relief to many amid cost-of-living pressures🧑‍🦽 Senate Urges Action on Disability Pay Gap* Minimum wage cited as insufficient amid inflation* Push for broader social wage reform underwayGlobal & Geopolitical Outlook🤖 China Moves to Limit Nvidia’s H200 AI Chips* Despite US export clearance, Beijing restricts top-tier chip access* $160M smuggling case shows extreme demand and scarcity pressure📱 Australia Bans Social Media for Under-16s* Mandatory age verification, hefty fines for non-compliance* Global precedent for tech regulation and child safety online⚠️ Thai-Cambodian Border Clashes Erupt* PM Srettha rules out talks* Escalation threatens regional trade routes and investor confidence🏦 Thailand Sees Flight to Gold Amid Instability* Gold prices jump on weak baht, low rates, and rising uncertainty* Classic safe haven play as tensions rise in Southeast Asia🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!🔗 Subscribe & Share the Malaysia Money Matters podcast on Substack, Spotify, or Apple PodcastsMalaysia Money Matters is a one-person passion project. Subscribe for free or support me as a paid subscriber—it means the world to me! Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe

In today’s episode, we explore the mounting tension between Malaysia’s growth ambitions and the need for real governance. From boardroom pushback and public tender loopholes to billion-ringgit infrastructure fraud and regional policy shifts, we unpack the stories that show: capital is moving fast — but scrutiny is moving faster.Malaysian Corporate & Market Developments🌱 Jentayu Shareholders Reject Insider Deal, Greenlight Hydro Expansion* Related-party acquisition blocked at EGM* RM45.26M private placement approved for Project Oriole, a Sabah hydropower push* Clear message: green energy growth is welcome, but only with clean governance⚙️ APB Resources Goes to Arbitration with BASF Petronas* RM1.85M claim + RM439K for extra work* Already fully impaired — so any win = pure upside🚗 Sumitomo Locks Down Dunlop Brand in Malaysia, Singapore, Brunei* Strategic move to unify global Dunlop branding* Boosts marketing cohesion and regional control📈 Mixed IPO Signals* Orkim posts RM13M profit ahead of Main Market debut* PSP Energy opens flat, closes down on ACE Market📊 FBM KLCI Unchanged, Mid 70 Reshuffle Signals Green Tilt* Eco-Shop Marketing and Kelington Group in* Bumi Armada and Dayang Enterprise out* Tells a broader story of rotation into retail and green techPolicy & Political Headlines🧾 E-Invoicing May Be Deferred for Small Biz* MOF studying exemptions for businesses earning under RM1M* Balancing fiscal transparency vs compliance burden📑 New Procurement System Debuts – But Concerns Linger* Two-stage open tenders to replace selective bidding* PAC flags concern over Proof-of-Concept being used as a loophole to skip competition💼 Progressive Wage Pilot Brings 16% Boost for 32K Workers* But Malaysia’s digital workforce still underpaid globally* Country ranks 18th in digital salaries, raising brain drain risks⚖️ PM’s Former Aide Charged in Graft Probe* Datuk Seri Shamsul Iskandar accused of taking RM177K in bribes* Tied to broader crackdown on illegal Bitcoin mining⚡ TNB Loses US$1.1B to Crypto Power Theft* Over 5 years, linked to unauthorised mining ops* New task force (MOF, BNM, TNB) formed to address national infrastructure threatsGlobal & Geopolitical Outlook🤝 Malaysia-Singapore Retreat Shows Constructive Tone* PM Anwar & PM Wong address key frictions: airspace, water, maritime claims* Both sides emphasize no hostility💹 BOJ Rate Hike on the Horizon?* Japan signals possible end to ultra-low interest era* Major implications for regional capital flows💱 China Intervenes to Cool Yuan Surge* State banks buying USD to manage currency appreciation* Effort to avoid hurting export competitiveness🇪🇺 Meta Faces New EU Antitrust Probe* Focused on integrating AI into WhatsApp* EU fears it will distort competition — scrutiny on Big Tech tightens again Get full access to Malaysia Money Matters at mmoneymatters.substack.com/subscribe