The Malaysian Anti-Corruption Commission’s (MACC) domestic investigation into the Retirement Fund Incorporated (KWAP)’s RM163.4 million investment in Indonesian aquaculture firm eFishery is nearly 80% complete, but the international phase remains ongoing.
MACC chief commissioner Datuk Seri Abd Halim Aman said investigators were still seeking financial documents and evidence from several foreign jurisdictions before reaching a conclusion.
“MACC has yet to obtain all the overseas financial information and documents required before reaching a conclusion,” he said at a press conference here today.
So far, 19 people from KWAP, the Finance Ministry and Khazanah have had their statements recorded, with no arrests made.
Abd Halim said the investigation had not uncovered criminal wrongdoing involving corruption or misappropriation to date.
MACC is seeking financial documents from banks in Singapore and Indonesia, as well as statements from overseas witnesses. Mutual Legal Assistance (MLA) is also required involving Singapore, Indonesia, the US and Abu Dhabi.
The commission is separately examining whether there were weaknesses in the governance and management surrounding the investment.
KWAP has said it is continuing to pursue all available avenues to maximise recovery of its investment in eFishery.
LPI Capital Bhd’s net profit fell 8.1% to RM166.4 million for the six months ended June 30, 2026 (1H26), from RM181.1 million a year earlier, weighed down by weaker earnings from its general insurance business and fair-value losses on investments.
The group recorded RM7.9 million in net fair-value losses on investments during the period, reversing RM15.2 million in gains recorded in 1H25. Its investment holding segment, however, benefitted from stronger tax-exempt dividend and interest income.
Despite the weaker bottom line, operating revenue rose 6.9% to RM1.09 billion from RM1.02 billion, driven mainly by higher contributions from the general insurance segment. Earnings per share eased to 41.77 sen from 45.47 sen, while net return on equity slipped to 6.7% from 7.7%.
For the second quarter alone, net profit attributable to shareholders dropped 19.6% to RM66.9 million from RM83.2 million, even as operating revenue increased 7.4% to RM545.2 million.
LPI’s wholly-owned insurance unit, Lonpac Insurance Bhd, saw gross written premiums rise 4.1% to RM1.07 billion in 1H26, while its insurance service result improved 3.1% to RM171.1 million from RM165.9 million.
The fire insurance business was a key bright spot, with its insurance service result rising sharply to RM140.4 million from RM96.1 million, supported by better claims experience.
Motor insurance remained under pressure, swinging to an insurance service loss of RM5.9 million from a RM28 million profit a year earlier. Lonpac’s net claims incurred ratio also increased to 45.6% from 44.8%.
LPI declared a first interim dividend of 25 sen per share, amounting to RM99.6 million, alongside a special dividend of 65 sen per share following the completion of its RM1.05 billion disposal of 220.3 million Public Bank Bhd shares in May.
Looking ahead, the group expects Malaysia’s general insurance industry to maintain healthy growth in 2026, although geopolitical uncertainty, supply-chain disruptions and rising claims costs could continue to weigh on underwriting performance.
Thailand’s economic growth is expected to have slowed sharply in the second quarter as weaker household consumption weighed on the economy, with economists also forecasting a quarterly contraction.
15 economists said Thailand’s gross domestic product (GDP) was expected to expand 1.7% year-on-year in the April-June quarter, down from 2.8% in the first quarter. On a seasonally adjusted quarterly basis, GDP was forecast to contract 0.6%, compared with 0.7% growth in the previous quarter.
The data, due on Aug 17, is expected to show households turning more cautious amid higher costs, while high household debt and an ageing population continue to constrain spending.
“Private consumption was likely (to) be the main drag. The oil shock rippled through costs across a wide range of goods and services, especially transportation. As a result, households have likely grown more cautious about spending,” said Eugene Tan, associate economist at Moody’s Analytics.
Tourism also offered limited support, with foreign arrivals down 3.2% year-on-year as of Aug 1. Geopolitical uncertainty, higher travel costs and softer purchasing power in some major markets weighed on international arrivals.
Private investment, particularly in electronics and AI infrastructure, alongside strong exports, was expected to cushion the slowdown, although economists warned the export boost could fade after shipments were brought forward earlier this year.
Thailand’s economy is forecast to grow 2% in 2026.
Fast-fashion giant Shein is targeting an Aug 28 stock market debut in Hong Kong, with the Singapore-based retailer seeking a valuation of as much as US$40 billion as it moves closer to completing a long-running listing push that previously took it to New York and London, Reuters reported.
The company could launch its IPO as early as Aug 19, according to a person familiar with the matter.
The proposed Hong Kong listing would mark a significant milestone for Shein after earlier attempts to pursue flotations in the US and UK failed to materialise.
Shein is expected to seek a valuation of between US$30 billion and US$40 billion, sharply below the nearly US$100 billion it commanded in 2022. The reduced valuation comes amid slower growth, rising costs and shifting market conditions.
Founded in China in 2012 and now headquartered in Singapore, Shein has yet to comment on the reported listing schedule.
The potential IPO also comes as the retailer faces pressure on earnings. Shein swung to a US$99 million quarterly loss after the US removed an import duty exemption for low-value packages, a change that raised costs for its business model.
Its results were further hit by a US$328 million fair-value charge on convertible redeemable preferred shares following an accounting change.
Despite the earnings pressure and lower valuation, a successful Aug 28 debut would finally give Shein access to public equity markets after years of pursuing a listing across three major financial centres.
Haze conditions worsened across Malaysia on Thursday, with 10 areas recording unhealthy Air Pollutant Index (API) readings as at 2.10pm, up from seven areas at 11.30am.
Seven of the affected areas were in Sarawak, led by Serian with an API reading of 178, followed by Samarahan at 177 and Kuching at 174. Sri Aman recorded 161, Sarikei 157, Mukah 152 and Sibu 151.
In Selangor, Johan Setia recorded an API reading of 154 while Shah Alam registered 105. Cheras in Kuala Lumpur also entered the unhealthy category at 128.
Under the API classification, readings between 101 and 200 are considered unhealthy.
Amy Poehler andMike Schur’s latest TV collaboration finally has a premiere date as Peacock sets the debut for their new comedy series Dig. Their first major team-up since Parks and Recreation, Poehler and Schur are bringing their signature style to the world of archaeology.
Based on the novel Excavations by Kate Myers, the series follows a team of dedicated archaeologists (and less-dedicated college students) as they spend a summer working on a dig site in Greece. Their discovery of a rare artifact sends them on the adventure of a lifetime. Poehler plays one of the key archaeologists, while Emmy nominee Hugh Laurie stars as Neville, a British professor who loves archaeology. He strives to uphold the traditions of this dying profession and fancies himself a mentor to those working at the site.
The cast is rounded out by series regulars Geraldine Viswanathan, Antonia Thomas and Fina Strazza, with guest cast members including What We Do in the Shadows breakout Kayvan Novak, Jon Pointing (Big Boys) and Bonita Friedericy (Chuck).
Dig is co-showrun by Mike Schur and J.J. Philbin, who executive produce the show with Amy Poehler, Morgan Sackett, Dean Holland, Kate Arend, Jordan Grief, Dave Becky, David Miner, and Sharon Jackson. Meanwhile, Fermulon, Paper Kite, Duck Duck Films, Dunshire, 3 Arts, and Ocean Avenue serve as producers on the project, hailing from Universal Television, a division of Universal Studio Group.
The 10-episode comedy series will debut November 23rd 2026.
Hilton today announced the opening of Conrad Nagoya in partnership with Mitsubishi Estate Co., Ltd. The opening marks the debut of Hilton’s luxury brand, Conrad Hotels & Resorts in Nagoya and an important addition to the brand’s growing global portfolio, bringing Conrad’s bold, contemporary approach to luxury to one of Japan’s most dynamic destinations. Beyond its role as a manufacturing hub, Nagoya is celebrated for its vibrant culinary scene, centuries-old craftsmanship, and dynamic cultural traditions.
As the largest brand within Hilton’s luxury portfolio, Conrad continues to build meaningful momentum globally, with 51 hotels across five continents and a strong development pipeline. Conrad Nagoya reflects what is driving that growth: bold design, intuitive service and experiences that connect guests more deeply to the culture and character of a destination.
Situated in the heart of Nagoya’s business and shopping district, Conrad Nagoya offers convenient access to some of the city’s most iconic attractions, including Nagoya Castle and Atsuta Shrine. The hotel also serves as a gateway to Central Japan’s renowned destinations such as Ise and Takayama, offering guests a deeper connection to the region’s artistry and heritage.
Housed on the upper floors of The Landmark Nagoya Sakae, the tallest skyscraper in the Sakae district, and directly connected to Sakae Station, Conrad Nagoya is a landmark addition to the city’s evolving skyline, placing guests close to the city’s business, shopping and cultural centre, with bold, contemporary design, thoughtful service and experiences that reflect Nagoya’s local character.
“The opening of Conrad Nagoya, in partnership with our valued owner, Mitsubishi Estate, marks an important milestone for Hilton,” said Joseph Khairallah, area vice president, head of Japan, Korea and Micronesia, Hilton. “Nagoya has played a significant role in our history since the opening of Hilton Nagoya in 1989. The debut of Conrad Nagoya further reinforces our commitment to this vibrant destination, and we look forward to delivering memorable experiences for guests from Japan and across the globe.”
Conrad Nagoya features 170 guestrooms, including 29 suites, each spanning more than 50 square meters, with floor to ceiling windows framing expansive views of the Nagoya skyline. Inspired by the vibrant energy of the Sakae district, each guestroom features bespoke metal art pieces that capture the movement of people, light, and rhythm of the city, bringing metropolitan energy into the guestroom. The hotel’s signature Conrad Suite, located on the 40th floor, spans 213 square meters and offers panoramic city views, seamlessly blending bold design with residential-style comfort.
Spread across the 31st and 40th floors, Conrad Nagoya’s six restaurants and bars showcase culinary mastery from the Tokai region, blending contemporary Japanese and international influences while showcasing the craftsmanship and energy of Nagoya’s unique dining culture.
At SUNDROP, the hotel’s lobby lounge and bar, guests can enjoy afternoon tea, cocktails, and globally inspired cuisine in a light-filled setting with sweeping city views. CASA OLIVA celebrates Italy’s rich culinary heritage through timeless dishes and a wine program featuring more than 100 Italian labels, while SONGBIRD offers specialty coffee, pastries, and seasonal sweets. On the 40th floor, SORYU presents a contemporary sushi kaiseki experience inspired by the craftsmanship of traditional sushi, while SOEN showcases teppan kaiseki rooted in Japanese culinary traditions. Completing the collection is HOUSE OF MON, a rooftop bar serving craft cocktails against a backdrop of sweeping views across Nagoya’s skyline.
The hotel’s wellness offerings are centered around Conrad Spa, which features four treatment rooms, an indoor swimming pool, sauna facilities, and a 24-hour fitness center. Designed as an urban retreat above the city, the wellness facilities provide guests with ample opportunities for relaxation, rejuvenation, and renewal throughout their stay.
Conrad Nagoya also offers dedicated meeting and event facilities across the 10th and 11th floors. The Grand Ballroom features 342 square meters of flexible event space with an 8-meter-high ceiling, while the Akari meeting spaces offer versatile configurations and can be divided into four separate rooms. Designed to accommodate corporate meetings, social gatherings, and celebratory events, the venues are supported by advanced audiovisual technology and a dedicated events team to ensure seamless execution.
“Conrad continues to evolve across Asia Pacific, bringing the brand’s distinctive point of view to destinations where we can create meaningful connections for today’s luxury traveler. Conrad Nagoya has been designed to feel relevant to the modern guest, offering greater choice and freedom to experience the city in their own way. With opportunities for discovery and experiences that are both personal and purposeful, the hotel reflects how Conrad is redefining luxury for a new generation of travelers,” said Candice D’Cruz, vice president, Hilton Luxury Brands, Asia Pacific.
Through the brand’s signature program Conrad 1/3/5, guests can discover Nagoya through curated journeys designed around the time they have available. Whether exploring the region’s rich craftsmanship, savoring culinary traditions, or venturing beyond the city, each 1-hour, 3-hour and 5-hour experience highlights the unique culture, adventure and local essence of the destination. At Conrad Nagoya, guests can deepen their connection to the locale by immersing themselves in a range of authentic activities, such as an interactive cocktail-making session, traditional tea ceremony, craft beer discovery, miso-making workshop, and gaining exclusive access to witness the 400-year-old heritage of Arimatsu Shibori, Japan’s renowned tie-dyeing craft.
“We are delighted to open Conrad Nagoya. The hotel serves as the symbolic centerpiece of The Landmark Nagoya Sakae, a development envisioned as a hub for cultural exchange and value creation. By welcoming Conrad Hotels & Resorts, a globally renowned luxury brand, we believe Nagoya’s Sakae district will further strengthen its position as a gateway for visitors from Japan and around the world, evolving into a vibrant destination where diverse cultures and ideas converge. From this landmark location, we look forward to showcasing the appeal of Nagoya to the world and working closely with the local community to drive sustainable growth for generations to come,” said Atsushi Nakajima, president and chief executive officer, Mitsubishi Estate Co., Ltd.
Conrad Nagoya joins a global portfolio of Conrad Hotels & Resorts properties across five continents and further strengthens Hilton’s luxury presence in Japan. Future openings in the country include Conrad Yokohama and Conrad Kobe.
The hotel is located at The Landmark Nagoya Sakae, 3-25-1, Nishiki, Naka-ku, Nagoya, Japan. Reservations can be made directly through the hotel’s website or the Hilton Honors mobile app. Read more about Conrad Hotels & Resorts here.
GuocoLand (Malaysia) Bhd will be delisted from the Official List of Bursa Malaysia Securities with effect from 9am on Tuesday, Aug 18, 2026.
Bursa Malaysia said the entire issued share capital of GuocoLand Malaysia, which trades under the stock short name GUOCO, will be removed from the Main Market pursuant to Paragraph 16.07(b) of the Main Market Listing Requirements.
The company is part of the wider Guoco Group, which has property, hospitality, financial services and other business interests across several markets in Asia and beyond.
TA Win Holdings Bhd has been named as a defendant in a legal suit at the High Court involving allegations of oppression and prejudice against the interests of shareholders in Sin Line Tek Electronic Co Sdn Bhd.
The copper and wire products manufacturer said it received a Statement of Claim dated Aug 11, 2026, on Aug 12, in relation to Civil Suit.
The suit was filed by Lim Aik Gee and Lim Wai Keong against five defendants, namely Dato Sri Ngu Tieng Ung, Tan Seng Pang, TA Win Holdings, Cyprium Capital Sdn Bhd and Sin Line Tek Electronic.
According to TA Win, the plaintiffs are seeking declarations that the first four defendants had conducted the affairs of Sin Line Tek in a manner that was oppressive to, or disregarded, their interests as members of the company.
They also allege that the defendants had procured, caused or threatened to cause actions that discriminated, or would unfairly discriminate against or prejudice them as shareholders of Sin Line Tek.
Among the remedies sought by the plaintiffs is an order requiring them to sell all their shares in Sin Line Tek to the first four defendants at a fair value to be determined by an independent valuer appointed by the court.
Under the proposed buy-out arrangement, the plaintiffs are seeking for the independent valuation of their shares to be based on their fair value as at Sept 23, 2024.
The plaintiffs are also seeking an order for the first four defendants to jointly and severally pay the purchase price within 30 days of the independent valuer submitting its report, after which the plaintiffs would transfer their shares.
Another key relief sought is an order requiring the defendants to procure the release of the plaintiffs’ assets and properties from financial institutions, as well as the release of personal guarantees given by the plaintiffs and/or Ng Kui Lang in relation to Sin Line Tek’s banking, loan and trade facilities.
Alternatively, the plaintiffs have asked the court to wind up Sin Line Tek and appoint the Official Receiver as its liquidator.
TA Win said the case management has been fixed for Aug 26, 2026 via e-Review.
The company has instructed its solicitors to review the Statement of Claim and advise on the appropriate next course of action. TA Win said it intends to file a defence against the claim.
MN Holdings Bhd has secured a RM71.02 million contract from Tenaga Nasional Bhd (TNB) for the establishment of a new 132/33 kilovolt (kV) transmission main intake (PMU) in Blue Valley, Cameron Highlands, Pahang.
The group said its wholly owned subsidiary received the contract award from TNB on Aug 12, 2026. The project involves the establishment of a new 132/33kV PMU Blue Valley with a capacity of two 45 megavolt-amperes (MVA) transformers.
Under the contract, MNPT will undertake the supply, erection, installation, testing and commissioning of the new transmission intake, which will feature a double-busbar arrangement together with the necessary primary and secondary systems and associated civil works.
The contract is scheduled for completion within 900 days.
The company said the contract is not expected to have any immediate impact on its issued share capital or the shareholding structure of its substantial shareholders.
Bursa Malaysia remained in negative territory at midday on Thursday, with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) falling 5.63 points or 0.32% to 1,735.98 as at 12.30pm.
The index opened at 1,742.79 before moving between an intraday high of 1,742.79 and a low of 1,733.21, extending its losses from the morning session.
The broader market was also weaker, with the FBM70 declining 47.21 points or 0.26% to 18,388.60, while the FBMEMAS fell 41.29 points or 0.32% to 12,877.41. The F4GBM dropped 3.63 points or 0.35% to 1,044.62 while the FBMSHA slipped 49.31 points or 0.39% to 12,721.57.
KeyAsic remained the most actively traded counter, with 1.05 billion shares changing hands. Its shares gained three sen to 6.5 sen. Ekovest rose 0.5 sen to 20.5 sen while Oppstar added three sen to 71.5 sen.
Nestle remained among the top gainers, rising RM1.40 to RM104.30, followed by Malaysian Pacific Industries which gained 52 sen to RM48.02.
HLBank led the decliners, falling 34 sen to RM22.36, while United Plantations shed 28 sen to RM33.32.
UOA Development Bhd has appointed Singaporean businessman Kong Sze Choon, 49, as its Non-Executive Chairman, effective Aug 13, 2026.
The property developer said Kong will serve as a Non-Independent Non-Executive Director following the appointment.
Kong holds a Bachelor of Commerce degree in Finance from Curtin University of Technology in Perth, Australia.
He joined the UOA Holdings group in 2002 and has held various roles spanning leasing, sales and marketing, as well as business development for the group’s commercial and residential property developments.
Prior to his current role, Kong was part of the management team of UOA Asset Management Sdn Bhd, the manager of UOA Real Estate Investment Trust, where he served as Asset Management Manager before being appointed chief executive officer.
He is currently the chief executive officer and Non-Independent Executive Director of UOA Asset Management Sdn Bhd, as well as a director of UOA (Singapore) Pte Ltd, a subsidiary of UOA Development’s ultimate holding company, United Overseas Australia Ltd.
Kong was first appointed to UOA Development’s board on Aug 20, 2015 as an Alternate Director to his late father, Kong Chong Soon @ Chi Suim, who was then the company’s managing director.
The company said Kong is the son of the late Kong Chong Soon, whose estate is an indirect substantial shareholder of UOA Development. He is also the brother of Kong Sze Hou, who is a director of United Overseas Australia Ltd and several subsidiaries of UOA Development.
Gamuda Berhad has secured two Engineering, Procurement and Construction (EPC) contracts in Australia worth a combined AUD569 million (RM1.64 billion) for the development of the Ganymirra and Majors Creek solar and battery hybrid projects.
The group said its wholly owned Australian subsidiary, DT Infrastructure Pty Ltd (DTI), entered into the EPC contracts with Ganymirra Solar Power Station Pty Ltd and Majors Creek Solar Power Station Pty Ltd, respectively.
Gamuda said DTI received the Notices to Proceed for both projects on Aug 12, 2026, with construction scheduled to commence in the second half of 2026.
Each project carries an EPC contract value of AUD284.53 million (approximately RM822.3 million), based on an exchange rate of AUD1 to RM2.89 as at Aug 12.
The projects are expected to take approximately two years to complete, with completion targeted by January 2029.
Under the contracts, DTI will undertake the engineering, procurement, construction, testing and commissioning of the solar farms, battery energy storage systems (BESS) and associated balance-of-plant infrastructure.
The two adjacent solar farms are being delivered as a single project, with DTI also expected to provide operations and maintenance services after completion to support the long-term performance, reliability and optimisation of the assets.
Gamuda said the projects are expected to contribute positively to the group’s revenue and earnings for the financial year ending July 31, 2027, and through to their completion.
LRT services at Gombak Station were briefly disrupted on Thursday morning after a passenger reportedly fainted before falling onto the tracks.
Rapid KL said the incident occurred at about 9.05am, prompting the Platform Intrusion Emergency Stop (PIES) system to be activated while power to the tracks was temporarily cut as a safety measure.
The passenger was assisted out of the track area by the operations team and auxiliary police before being taken to an emergency room while awaiting an ambulance.
The passenger was subsequently taken to Hospital Tawakal Kuala Lumpur for further examination and treatment.
Rapid KL said checks found the tracks to be safe, allowing train operations to resume at 9.12am, around seven minutes after the incident.
The operator advised passengers to follow its official social media channels for the latest service updates.
ST Telemedia Global Data Centres (STT GDC) has secured a green financing facility of up to US$1.37 billion (RM5.6 billion) to support the development of its flagship Malaysian data centre campus in Johor.
The financing package includes a green loan facility for the first phase of the STT Johor campus at Nusa Cemerlang Industrial Park in Iskandar Puteri, the company said in a statement today.
(Pic – an artist’s impression of the STT Johor campus, purpose-built to deliver scalable, sustainable and AI-ready digital infrastructure for the next generation of digital growth.)
United Overseas Bank (Malaysia) Bhd is the sole coordinator and mandated lead arranger for the financing, while OCBC Bank (Malaysia) Bhd, Standard Chartered Bank Malaysia Bhd and CIMB Bank Bhd are the other mandated lead arrangers.
STT GDC group chief financial officer Nelson Lim said the financing marked an important milestone in the company’s continued investment in Malaysia and reflected confidence among its banking partners in the project and the long-term prospects of the digital infrastructure sector.
“As demand for cloud, artificial intelligence (AI) and other digital workloads grows, disciplined, long-term capital will be critical to building infrastructure that is resilient, sustainable and able to support our customers’ requirements,” he said.
Lim said the facility also reinforced STT GDC’s approach to incorporating sustainability into the financing, design, construction and operation of its data centres.
The STT Johor campus has a planned development capacity of up to 166 megawatts of information technology load.
It is intended to serve customers requiring scalable digital infrastructure for cloud computing, AI, high-performance computing and other next-generation workloads.
STT GDC said Johor’s connectivity, access to power infrastructure, expanding talent pool and proximity to Singapore had strengthened the state’s position as a destination for hyperscale and large-scale digital infrastructure investment.
The campus is also expected to support the objectives of the Johor-Singapore Special Economic Zone, including greater cross-border economic cooperation and Johor’s development as a high-value investment destination.
STT GDC Malaysia country head Darryll Sinnappa said the campus reflected the company’s long-term commitment to Malaysia and its confidence in Johor’s role as a strategic digital infrastructure hub.
“The campus is being developed to support the next generation of digital infrastructure requirements, including cloud, AI and high-performance computing workloads, while contributing to Malaysia’s digital economy ambitions,” he said.
Sinnappa said STT GDC was also committed to building local capabilities, strengthening industry partnerships and operating responsibly as it expanded in Johor.
In April 2026, the company launched talent and community development initiatives in the state in collaboration with the Johor Talent Development Council, Universiti Teknologi Malaysia and EPI Group.
The programme builds on a memorandum of understanding signed by STT GDC and the council in 2025 to develop a pipeline of skilled professionals for Johor’s data centre industry and the wider region.
According to its latest environmental, social and governance report, renewable energy accounted for 83.2 per cent of STT GDC’s electricity consumption in 2025.
The company also reduced its carbon intensity by 70.5 per cent from its 2021 baseline, surpassing its 2028 target three years ahead of schedule.
Its average power usage effectiveness stood at 1.44, representing a 13 per cent improvement from the 2020 baseline, while water usage effectiveness improved by 41.2 per cent over the same period.
The Malaysian Anti-Corruption Commission (MACC) has confirmed that seven individuals have been detained so far in investigations arising from the findings of the Royal Commission of Inquiry (RCI) into Lembaga Tabung Haji (TH), as authorities widen their probe into alleged financial and governance irregularities at the pilgrimage fund.
MACC has launched several investigations into matters highlighted by the 211-page report, including suspected abuse of power, alleged misappropriation and questionable transactions involving TH and entities linked to the institution.
The commission’s investigations have so far involved individuals from various professional backgrounds, including former senior executives, a plantation manager, a design company director, construction and occupational safety personnel, and a project director linked to a statutory body’s property company.
Among the most significant investigations is a case involving the alleged abuse of power in the acquisition of shares in two plantation companies valued at RM370 million.
A former chief executive officer and former chief financial officer of a company owned by a statutory body were detained in connection with the investigation. Both were subsequently released on health grounds and were required to continue assisting investigators. The case is being investigated under Section 23 of the MACC Act 2009.
Separately, MACC has investigated an alleged RM300,000 bribe involving a design company director, who is suspected of providing renovations to four houses belonging to a former chief operating officer in return for assistance in securing renovation projects.
Another investigation concerns the alleged misappropriation of about RM8 million involving a contract for the supply of rubber seedlings, while three individuals were also detained over an alleged RM450,000 misappropriation involving notices of penalty.
The scale and complexity of the issues identified in the RCI report could also see Malaysia seek assistance from foreign forensic specialists as investigators work to trace transactions and establish the circumstances surrounding problematic investments.
The RCI itself recommended forensic audits into a number of troubled investments, particularly where it identified suspicious transactions, information concealment and weaknesses in investment decision-making.
The move would potentially allow investigators to draw on specialist expertise in forensic accounting, transaction tracing and cross-border financial investigations, particularly where transactions involve overseas entities or assets.
The RCI identified 14 troubled investments for further forensic examination and recommended that those involved in investment decisions that resulted in losses be held accountable where appropriate.
However, the investigations remain ongoing and the involvement of any external or foreign forensic firm should not be taken as evidence of wrongdoing by any particular individual or entity.
Malaysian Anti-Corruption Commission (MACC) has obtained arrest warrants for a Singaporean man and a Malaysian woman who have repeatedly failed to come forward to assist in an ongoing investigation.
The two individuals are Poh Po Lian, a Singaporean, and Jennifer Kok Sau Keng, a Malaysian. The Kuala Lumpur Magistrate’s Court issued warrants for their arrest on Aug 4, 2026, after investigators were unable to locate them despite previous attempts to trace them.
MACC said Poh’s last known Malaysian address was at Pavilion Residence 2, Jalan Raja Chulan, Kuala Lumpur, while Kok’s last known address was at Abadi Villa, off Jalan Klang Lama, Kuala Lumpur.
The commission had previously issued media statements seeking both individuals in October 2025 and March 2026, but they remained untraceable, including at a previously identified address at White House Park, Singapore.
In March 2026, MACC specifically described its effort to locate Kok as being related to an investigation involving false documents. At that time, the commission appealed for information on her whereabouts and identified her last known address in Kuala Lumpur.
Earlier, in October 2025, MACC had announced that it was seeking both Poh and Kok to assist in a corruption investigation, although the commission did not publicly disclose the underlying allegations or the specific transactions being investigated.
Malaysia’s construction sector continued to expand in the second quarter of 2026, with the value of work done rising 8.8 per cent year-on-year (y-o-y) to RM47.8 billion, according to the Department of Statistics Malaysia (DOSM).
The growth was slightly faster than the 8.5 per cent recorded in the first quarter of 2026, supported mainly by continued double-digit expansion in special trade activities and non-residential buildings.
Special trade activities recorded the strongest growth at 17.6 per cent, while the non-residential buildings segment expanded 13.3 per cent. Residential buildings grew 8.7 per cent, while civil engineering registered a more moderate 2.7 per cent increase.
Civil engineering remained the largest contributor to the sector’s total value of work done, accounting for RM16.7 billion or 35.0 per cent of the total. This was driven by utility projects worth RM8.1 billion and road and railway construction valued at RM6.9 billion.
The non-residential buildings segment contributed RM14.0 billion, or 29.3 per cent, while residential buildings accounted for RM10.9 billion, representing 22.8 per cent.
Special trade activities contributed RM6.2 billion, or 12.9 per cent, with site preparation, plumbing, heat and air-conditioning installation, and electrical installation among the key contributors.
The private sector continued to drive the construction industry’s expansion, contributing RM31.4 billion or 65.8 per cent of the total value of work done during the quarter.
Private-sector construction activity grew 11.4 per cent y-o-y, although this was slower than the 13.2 per cent growth recorded in the first quarter.
The expansion was led by special trade activities, which grew 20.2 per cent, and non-residential buildings, which increased 18.2 per cent.
Meanwhile, public-sector construction activity rose 4.1 per cent to RM16.4 billion, accounting for the remaining 34.2 per cent of total work done. This marked a stronger performance compared with the 0.5 per cent growth recorded in the first quarter, supported mainly by an 11.0 per cent expansion in special trade activities.
At the state level, nearly two-thirds, or 65.8 per cent, of Malaysia’s construction work was concentrated in Selangor, Johor, the Federal Territories and Sarawak.
Selangor remained the largest contributor, with construction work valued at RM12.2 billion or 25.5 per cent of the national total. Non-residential buildings contributed RM4.8 billion, while residential buildings accounted for RM3.2 billion.
Johor followed with RM9.4 billion, equivalent to 19.6 per cent of the total, with non-residential buildings contributing RM3.5 billion.
The Federal Territories recorded RM5.2 billion or 10.8 per cent of total construction work, while Sarawak contributed RM4.7 billion or 9.9 per cent.
For the first half of 2026, Malaysia’s construction sector recorded RM94.3 billion in work done, representing an 8.7 per cent increase from the corresponding period in 2025.
Growth was supported by all major sub-sectors, with special trade activities registering the strongest expansion at 21.0 per cent, followed by non-residential buildings at 13.0 per cent.
However, the first-half growth rate was slower than the 14.7 per cent expansion recorded in the first half of 2025.
The latest figures point to continued resilience in Malaysia’s construction industry, underpinned by sustained private-sector activity and ongoing development in industrial, commercial, residential and infrastructure projects.
The dollar lost momentum on Thursday after benign US inflation data prompted traders to scale back bets on a near-term Federal Reserve rate hike, with markets now pricing a 40% chance of a September increase compared with 54% a week earlier.
The US consumer price index rose 0.1% in July, matching economists’ expectations and shifting attention towards the Fed’s balancing act between persistent inflation risks and a weakening labour market following weaker-than-expected July payrolls.
MUFG currency strategist Michael Wan said the Federal Open Market Committee was likely to maintain a restrictive stance in September rather than move towards another rate hike.
The dollar index was flat at 100 in Asian trading but remained on track for a 0.4% weekly gain. Against the yen, the greenback was little changed at 159.44 yen, keeping it close to the 160 level that markets have been watching after US-Japan intervention at the end of July.
Bank of America head of Japan FX and rates research Shusuke Yamada said the dollar-yen move above 160 could be seen as a sign that authorities have limited resolve to defend the yen.
Meanwhile, the euro was little changed at US$1.1523 while sterling slipped 0.05% to US$1.3489 ahead of UK economic data. The Australian dollar eased 0.2% to US$0.7049 after reaching a 10-week high, while the New Zealand dollar fell 0.4% to US$0.5832.
Malaysian small and medium enterprises (SMEs) are facing growing pressure to improve their environmental practices as larger buyers increasingly seek evidence of how suppliers manage energy, emissions and resource use.
The shift is particularly relevant for exporters and smaller suppliers, with MBSB Research noting that customers may request carbon data, labour information and product traceability even where proposed European Union rules do not directly cover the Malaysian companies involved.
Electronics, palm oil, rubber and chemical manufacturers are among the sectors that could face such requirements, making early preparation increasingly important.
However, research on Malaysian SMEs found that adoption of green practices remains constrained by limited knowledge, resources and technical expertise, while green financing is still often perceived as something primarily available to larger corporations.
For businesses looking to upgrade machinery, improve energy efficiency or adopt green technology, financing could therefore become a key part of the transition.
MIDF’s Sustainable Green Biz Financing offers eligible local manufacturing and services businesses financing of up to RM10 million at a financing rate of 3% per annum for energy-saving machinery, equipment and other fixed assets, subject to credit evaluation and approval.
The broader challenge for SMEs is not simply meeting environmental expectations but ensuring they can measure and demonstrate improvements as sustainability requirements increasingly filter through global supply chains.
