In today’s briefing, we break down a landscape defined by dual momentum: booming confidence in Malaysian tech stocks amid a global AI surge — and rising local pressure from regulatory reforms, tax disputes, and governance shakeups. From Tenaga’s court win to the Gaza flotilla fallout, we explore how market forces and geopolitics are colliding as we head into Q4.

🏢 Key Malaysian Corporate & Market Updates

⚖️ Tenaga National wins first round in RM78.5M tax dispute

* Minor stock bump (+0.9%), but a significant precedent for other listed firms

⚖️ Feed Millers Secure Judicial Review Against RM367M Fine

* Leong Hup, PPB, and others pause MyCC’s largest ever price-fixing penalty

📈 Insider Moves to Watch

* 🛠️ T7 Global: Largest shareholder boosts stake to 22.7% (RM12M buy-in)

* 🧪 VS Industry: MD increases holdings while others trim—mixed signal

* 🏗️ Binastra: Prudential’s Eastspring emerges with 5.78% stake—institutional vote of confidence

🆕 IPO Pipeline Heats Up

* BMS Holdings gets ACE Market greenlight—funding showroom, distribution expansion

* Elsa Oil & Gas eyes ACE debut to fund robotics division

🤖 AI Push: Censof Appoints First Chief AI Officer

* Signals serious intent to drive automation, compliance efficiency, and long-term margin gains

📊 Sector Trends & Q4 Outlook

🚀 Malaysian Tech Stocks Outperform Asia

* Inari up 11%; sector index +5%

* Riding the global AI wave, with hopes of Fed easing adding fuel

🔍 Analog Devices Endorses Malaysia’s Chip Ambitions

* Moving beyond backend assembly to IC design & innovation

* Signals genuine shift up the semiconductor value chain

🌏 Malaysia-China Rare Earths Talks Deepen

* Potential tech-for-access swap involving Khazanah

📈 KLCI Q4 Outlook: Best in 5 Years?

* Fund inflows driving optimism

* But analysts caution: gains will be selective, not broad-based

* RAM survey: business sentiment improving but SMEs still feeling cost and reform pressure

💸 Policy Signals: Budi95 Expansion Likely

* More RON95 fuel support for e-hailing drivers expected in Budget 2026

🌐 Sarawak & World Bank Partner on SOE Reform

* Push for greater transparency, accountability at the state enterprise level

🌍 Global Headlines Shaping Local Risk

💼 Elon Musk Hits US$500B Net Worth

* Tesla, SpaceX, and xAI surge

* OpenAI valuation (also US$500B) lifts chip stocks by US$200B globally

🇺🇸 US Shutdown Looms, Hiring Slows

* Trump threatens worker firings amid spending impasse

* US job hiring hits 16-year low, more volatility ahead

🌎 Malaysia’s Diplomatic Spotlight

* Asean Summit seen as possible Trump–Lula meeting venue

🚢 Gaza Flotilla Incident: Malaysia Reacts

* PM Anwar condemns Israeli interception

* 23 Malaysians detained aboard the Sumud flotilla

🎧 Listen Now for a deep dive into Malaysia’s financial gems and global trends shaping 2025!

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