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In Formula 1, the story of Alex Yoong – Malaysia’s first F1 driver – is often remembered as one of failure. Yet the reality tells a very different story. His challenges were not due to a lack of talent but rather entering too early into the most competitive arena, with a small team, limited resources and minimal support. Driving for Minardi was like “a Kancil racing against a Lamborghini”. Despite his skill, the ecosystem never gave him a fair chance. History ultimately labeled him a “failed driver”, when in truth, he was a victim of an unprepared system. This narrative mirrors the corporate world, where small and growing companies often struggle not because they lack ability, but because they face much larger, richer and more established competitors. QEW’s QUEST: Turning Challenges into an Ecosystem of Strength QEW Group knows this story well. Having entered industries dominated by giants, QEW once faced the same limitations – scarce capital, an incomplete system and an uneven playing field. But instead of merely surviving, QEW embarked on a QUEST to create its own winning ecosystem. Through subsidiaries such as QEW Smart Integrated Industrial Park (QSIIP), the development of its own participation in the Halal Industries and strategic government-linked projects, QEW has positioned itself not to race alone, but to compete on equal footing with industry leaders.     This determined QUEST to build a strong and self-sustaining platform was internationally recognized when QEW Group was named Winner of the Contribution to Regional Halal Trade Award at IMTGT-RBEA 2025, underscoring the Group’s role in advancing the halal economy across ASEAN and beyond. “We Refuse to Be the Talented Driver in a Slow Car” “Alex Yoong’s story is a lesson to all of us – talent alone is never enough without the right ecosystem. At QEW, we refuse to be the talented driver in a slow car. Instead, we are determined to build our own fast car”, said Dato’ Iqbal, Executive Chairman of QEW Group. “That means creating our own innovation, strengthening our assets and partnering with trusted stakeholders. Our QUEST is to transform every challenge into an opportunity and to ensure Malaysia can compete confidently on the global stage.” From Punchline to Champion In Formula 1, a single second can decide whether one becomes a champion or a punchline. The same is true in business. QEW Group has chosen to be a champion – not because the journey is easy, but because the company continues to learn from history, embrace bold strategies and drive forward with the ambition to deliver not only corporate success but also national impact.

MAYU Global Group Bhd said the Malaysian Anti-Corruption Commission (MACC) has summoned a director of its 80%-owned subsidiary, Sunrise Manner Sdn Bhd, and ordered the freezing of the subsidiary’s bank accounts. In a bourse filing today, Mayu said Sunrise Manner director Tang Tiam Hok was called in by MACC on Sept 19 and 23 to assist in an ongoing investigation. “At this juncture, the board has been informed that no charges have been filed against Mr Tang,” the group added. Separately, Sunrise Manner received freezing orders from MACC on Sept 23 under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The orders, which cover the subsidiary’s accounts with Maybank Islamic Bhd and CIMB Bank Bhd, are valid for 90 days. Mayu said the freeze is not expected to have a material financial or operational impact on the group, based on its cash flow projections and existing hire purchase facilities. On Aug 7, Mayu disclosed that two other subsidiaries, namely Progerex Sdn Bhd and SMPC Industries Sdn Bhd, had been approached by MACC as part of “Op Metal”, a crackdown on alleged scrap metal smuggling syndicates linked to enforcement bribery. Mayu stressed then that it was not involved in the import or export of steel scrap, noting that all its operations are domestic. Separately, the group has also been subject to a police probe into the long-running MBI Group pyramid scheme, during which its bank accounts totaling RM10.67 million were frozen. Its executive director Tan Kim Hee was detained on April 2 this year and released without charges on April 7.

PETALING JAYA, Malayan Banking Bhd (Maybank) has appointed Yasin Abdullah as group CEO of Islamic banking and CEO of Maybank Islamic Bhd, effective Oct 1. In a statement today, Maybank said Yasin will be responsible for leading the group’s Islamic banking franchise and spearheading its vision of becoming a global leader in Islamic finance. Yasin Abdullah, 52, is currently Maybank’s group chief audit executive, where he spearheaded the Maybank Group Audit Strategic Plan 2023-2025.  “He will oversee all aspects of Maybank Group’s Islamic finance business, including business strategies, product development and innovation, while ensuring that risk management and Shariah compliance are upheld to the highest standards. He will report to Maybank’s president and GCEO, and will also be a member of the group executive committee,” it said. Yasin, 52, is currently Maybank’s group chief audit executive (GCAE), where he spearheaded the Maybank Group Audit Strategic Plan 2023–2025 to elevate the audit function through global best practices and strengthen assurance across the group. Meanwhile, Maybank has also appointed Malique Firdauz Ahmad Sidique, 47, as its new GCAE, effective Oct 1, succeeding Yasin. Maybank president and GCEO Khairussaleh Ramli said the appointments continued to reflect the effectiveness of Maybank’s internal succession planning.

ISKANDAR PUTERI, The Johor government has announced a comprehensive RM209 million aid package comprising 42 initiatives designed to ease the financial burden of its residents amid the ongoing rise in the cost of living. Menteri Besar Datuk Onn Hafiz Ghazi said the assistance is expected to benefit nearly two million Johoreans, with targeted support provided to various groups, including farmers, fishermen, e-hailing drivers, veterans, single mothers, undergraduates, examination candidates, and senior citizens. Onn Hafiz (third from right) at a ‘Jualan Kasih Johor’ programme in Johor Baru earlier this year. This programme was expanded with the additional funds. “This is proof that revenue growth is not just about figures on paper. What matters most is how every Bangsa Johor, in every district, can feel the impact of government initiatives in their daily lives,” he said during the Second Meeting of the Fourth Session of the 15th Johor State Assembly today. The Menteri Besar stressed that the aid package reflects the state government’s priority of ensuring that Johor’s economic growth is translated into tangible benefits for its people, especially those in vulnerable groups. The initiatives under the RM209 million package include a mix of direct financial assistance, subsidies, incentives, and social support programmes aimed at reducing the financial strain faced by households. According to Onn Hafiz, these efforts are part of Johor’s broader strategy to strengthen social protection and enhance the people’s overall well-being. He was responding to a question raised by Kota Iskandar assemblyman Datuk Pandak Ahmad, who had asked how the state government intends to address the challenges of rising living costs while ensuring that state revenue is effectively channelled back to the people. Earlier this year, Johor had already distributed RM20 million in targeted aid, with RM5 million allocated to single mothers and another RM5 million channelled towards cancer patients, alongside several other welfare initiatives. With this latest package, Onn Hafiz said the state hopes to provide immediate relief while also reinforcing Johor’s long-term commitment to inclusive growth. “Johor’s economic progress must always be people-centred. The ultimate goal is not only to grow revenues but to ensure that every citizen, especially those most in need, can benefit from the state’s success,” he added.