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KUALA LUMPUR, JS Solar Holding Bhd, a solar photovoltaic (PV) system provider, sustained its positive momentum at midday following its debut on Bursa Malaysia’s ACE Market earlier today. By the lunch break, the counter gained 9.0 sen to 40 sen, with 55.47 million shares traded. JS Solar opened at 40 sen, marking a nine sen or 29.03 per cent premium over its initial public offering (IPO) price of 31 sen, with 6.98 million shares changing hands at the opening. Managing director Datuk Johnson Chai Jeun Sian said the listing sets a strong foundation for growth and enables the group to tap into Malaysia’s expanding renewable energy (RE) sector. “We see vast opportunities ahead, supported by the national target of achieving 70 per cent RE in the electricity mix by 2050, alongside initiatives like the large-scale solar (LSS) Petra 5+ programme, LSS-Sabah, and the Solar Accelerated Transition Action Programme,” he said. He added that growing demand for engineering, procurement, construction and commissioning (EPCC) services, coupled with the adoption of advanced technologies such as Battery Energy Storage Systems (BESS), will further drive the company’s expansion. JS Solar plans to utilise IPO proceeds of RM24.18 million to reinforce its market presence, with allocations including RM12.72 million (52.61 per cent) for bank loan repayments, RM3.20 million (13.23 per cent) for regulatory fees and head office renovations, RM1.55 million (6.39 per cent) for business expansion and marketing, RM2.52 million (10.40 per cent) for working capital, and RM4.20 million (17.37 per cent) for listing expenses. Chai noted that JS Solar intends to leverage its experience as the main contractor for a BESS project at Kulim Hi-Tech Park, further integrating the technology to strengthen its role in Malaysia’s transition towards sustainable energy.

KUALA LUMPUR, Angelini Pharma, a unit of Angelini Industries, has signed an exclusive global option agreement with South Korea’s Sovargen to co-develop and commercialise SVG105, a new brain health therapy. Under the deal, both companies will jointly lead preclinical development. Following the option period, Angelini Pharma will hold the rights to advance SVG105 into clinical trials and commercialisation outside South Korea, China, Hong Kong, Macau and Taiwan. Sovargen will receive upfront and milestone payments worth up to US$550 million (RM2.3 billion), along with tiered royalties on net sales once approved. “Neurological conditions such as epilepsy continue to pose major challenges, with many patients not responding to existing treatments. This partnership aims to bring new solutions to patients in need,” said Angelini Pharma CEO Jacopo Andreose. Sovargen CEO Cheolwon Park added, “Working with Angelini Pharma allows us to accelerate SVG105’s potential to transform brain health therapies.” SVG105 is a first-in-class antisense oligonucleotide designed to target mTOR, a genetically validated pathway linked to several neurological disorders, including drug-resistant childhood epilepsy. The partnership strengthens Angelini Pharma’s growing brain health portfolio, which already includes therapies for rare genetic epilepsies, central nervous system disorders, and biologics designed to cross the blood-brain barrier. Brain health issues affect millions globally, with epilepsy alone impacting about 50 million people worldwide — up to 40% of whom remain resistant to treatment. This agreement reflects Angelini Pharma’s commitment to tackling unmet needs in neurological diseases through innovative approaches.

KUALA LUMPUR, Ireka Corporation Bhd (ICB) has defaulted on loan repayments amounting to RM1.04 million owed to Hong Leong Bank Bhd (HLBB) and AmBank (M) Bhd. In a filing with Bursa Malaysia, ICB said the loans were originally granted to its former wholly-owned subsidiary, Ireka Engineering & Construction Sdn Bhd (IECSB), which has since been wound up. As at Sept 23, 2025, the outstanding sums stood at RM675,000 with HLBB and RM364,962.88 with AmBank. ICB noted that it is prioritising limited resources to sustain ongoing projects and cover operational expenses to ensure business continuity. “The company has been actively engaging financiers to work towards mutually agreeable solutions. It continues to seek their support and indulgence as it undertakes its asset monetisation exercise, part of which will be used to regularise the loan defaults,” it said. The company added that HLBB, in its role as corporate guarantor, had issued a letter of demand dated Sept 18, 2025, seeking settlement of arrears under the existing repayment arrangement. HLBB has also reserved its rights to initiate legal recovery actions should non-payment persist. ICB said it will be submitting a solvency declaration to Bursa Malaysia within three market days from the date of the announcement.

KUALA LUMPUR, CIMB Group Holdings Bhd Malaysia’s second-largest bank by assets, has inked a memorandum of understanding (MoU) with PingPong Global Holding Ltd to expand cross-border payment solutions in the region. Under the partnership, CIMB’s banking infrastructure will be integrated with PingPong’s global network to provide faster, more secure and cost-effective transactions. Malaysia will be the launch market, followed by phased rollouts in Indonesia, Singapore, Thailand and Cambodia, according to CIMB’s statement. The collaboration makes CIMB the first ASEAN bank to form a two-way partnership with the international payments provider. (From left) CIMB co-CEO of group commercial and transaction banking Lawrence Loh, CIMB group CEO Novan Amirudin, PingPong Global Holding founder and CEO Robert Chen, and PingPong Global Holding Apac CEO and group partner Jianqin Shu. Lawrence Loh, co-CEO of group commercial and transaction banking at CIMB, said the initiative strengthens the bank’s position as the first regional player to embed global local collect solutions and merchant financing into its offerings. “Cross-border transactions are becoming increasingly important in the digital economy. This partnership will enable SMEs and enterprises to operate globally with greater ease, speed and assurance. In line with our Forward30 strategy, these capabilities reaffirm our commitment to supporting regional trade and business growth,” he said. Founded in 2015, PingPong is a leading cross-border payments provider, allowing SMEs and enterprises to open virtual accounts in over 20 currencies and make payouts to more than 130 countries. Its multi-currency wallets let businesses securely receive, hold, convert and transfer funds worldwide. Through this tie-up, CIMB will leverage PingPong’s platform to enable payments in more than 20 local currencies via virtual accounts, reducing costly cross-border fees. Clients can also hold funds in CIMB’s multi-currency accounts, seamlessly exchange currencies, and transact globally with buyers, suppliers, employees and partners. The collaboration will also see CIMB roll out merchant financing solutions tailored for PingPong’s SME and corporate clients, along with white-label SME card solutions and merchant acquiring services to support broader acceptance of cards and alternative payment methods across ASEAN. On Monday, CIMB shares gained eight sen, or 1.11%, to close at RM7.31, giving the bank a market capitalisation of RM78.7 billion.