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KUALA LUMPUR, The third edition of Selangor Export Day, happening on Aug 25–26, is set to gather over 200 entrepreneurs and businesses, particularly micro, small and medium enterprises (MSMEs), from diverse industries across the state. In a statement, the Malaysia External Trade Development Corporation (MATRADE) said the event will help entrepreneurs expand into export markets, further strengthening Selangor’s role as one of Malaysia’s top exporting states. MATRADE chairman Datuk Seri Reezal Merican Naina Merican. MATRADE chairman Datuk Seri Reezal Merican Naina Merican noted that Selangor recorded RM357.06 billion in export value in 2024, a 7.3% increase from the previous year. “Selangor Export Day is more than just an entrepreneur programme — it is a platform for entrepreneurs to connect, exchange ideas, innovate and gain inspiration. I encourage all entrepreneurs, especially in Selangor, to take advantage of this opportunity to access the latest export-related insights and prepare for the global market,” he said. The 2025 edition, held at Dewan Raja Muda Musa in Section 7, Shah Alam, is organised by the Selangor government through the State Economic Planning Unit (UPEN) and Selangor State Development Corporation (PKNS), in partnership with MATRADE. The event will be officiated by state Youth, Sports and Entrepreneurship Committee chairman Mohd Najwan Halimi and PKNS Group deputy chief executive officer (corporate) Suhaimi Kasdon, with MATRADE CEO Datuk Seri Mohd Mustafa Abdul Aziz also in attendance. Over the two days, participants can look forward to exporter advisory clinics, market opportunity briefings, success story sharing, as well as information on financial facilities and grants for exporters. Mohd Najwan highlighted that MSMEs are the backbone of Selangor’s economy. With the right support and global exposure, he said, they can strengthen their export potential sustainably. “In the digital economy era, entrepreneurs’ ability to adopt new technologies, leverage e-commerce and use market insights will define their resilience. That’s why collaboration between MATRADE and the state government through Selangor Export Day is crucial to ensure MSMEs remain resilient and grow into competitive global exporters,” he added.

In January, Starbucks announced plans to add at least 100 new outlets in Korea this year, after opening its 2,003rd store. From January to June, Starbucks Korea recorded an operating profit of 75.4 billion won (US$54 million), a slight dip of 4% from 75.8 billion won last year. However, sales rose 4.2% to 1.56 trillion won from 1.49 trillion won. The company has also ramped up marketing initiatives. In early 2023, it started replacing its name-calling pickup system with vibrating pagers at select stores, and since April 2024, Starbucks drinks have been available on food delivery app Baedal Minjok (Baemin). Starbucks Korea is jointly owned by Shinsegae’s Emart, which holds a 67.5% stake, and the Government of Singapore Investment Corporation (GIC), which owns 32.5%.

Sabana REIT has named Karen Lee as the chief executive officer (CEO) of its newly internalised manager, marking a key milestone in the trust’s transition. Lee brings more than two decades of experience in the real estate investment trust (REIT) industry. She previously served as deputy CEO of the merged ESR REIT and was CEO of ARA LOGOS Logistics Trust prior to its merger with ESR. Alongside her appointment, Sabana REIT has also announced Goo Li Ling as the chief financial officer (CFO) of the internal manager. Goo, who most recently held the role of managing director, finance for real estate funds at Keppel Fund Management until June this year, also brings 20 years of experience. Her past roles include a stint at Suntec REIT between 2004 and 2006. The trust further strengthened its governance structure with the appointment of two new board directors: Havard Chi from Quartz and Bhavik Umesh Doshi from One Hill Capital, effective August 22. These leadership changes follow Sabana REIT’s landmark move last year to internalise its management. On July 21, 2023, the REIT called for an extraordinary general meeting (EGM) to remove its external manager, and by August 7, unitholders voted in favour of the resolution to terminate Sabana Real Estate Investment Management (SREIM). On August 5, 2024, the REIT confirmed that it had identified candidates for senior leadership positions and executed letters of intent ahead of the official appointments. The latest leadership announcement underscores Sabana REIT’s commitment to establishing a fully internalised management structure to better align with unitholders’ interests.

KUALA LUMPUR, JPMorgan Chase has agreed to pay the Malaysian government US$330 million to settle all matters linked to its involvement in the multibillion-dollar 1MDB scandal, both parties confirmed on Friday. Investigators in Malaysia and the United States previously revealed that at least US$4.5 billion was misappropriated from 1Malaysia Development Berhad (1MDB) between 2009 and 2014. In 2021, 1MDB filed lawsuits against units of JPMorgan, Deutsche Bank, and Coutts & Co, accusing them of negligence, breach of contract, conspiracy to defraud, and dishonest assistance. Court filings showed that 1MDB had sought US$800 million in damages from JPMorgan (Switzerland) Ltd. Under the settlement, JPMorgan’s payment will be channelled into the government’s 1MDB Asset Recovery Trust Account. “The settlement resolves all current and future claims between the parties and prevents any further litigation related to 1MDB,” both sides said in a joint statement. They also confirmed that all outstanding appeals related to the lawsuit against JPMorgan’s Swiss unit at the Malaysian High Court will be withdrawn.

KUALA LUMPUR, United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is partnering with FMM House Sdn Bhd to launch its RM3 billion ASEAN Green Medium Term Notes (MTN) Programme, aimed at driving sustainable growth in Malaysia’s logistics infrastructure. UOB Malaysia is acting as the principal adviser, lead arranger, lead manager, and facility agent for the programme, underscoring the bank’s commitment to advancing green financing and innovation in the capital markets. Chief executive officer Ng Wei Wei said this represents UOB Malaysia’s second green logistics hub project in Selangor, following its earlier support for Global Vision Logistics, which was Malaysia’s first green-certified logistics development and one of the largest in ASEAN. “These initiatives reflect our continued efforts to deliver innovative solutions that support clients in decarbonising and transitioning to low-carbon, future-ready infrastructure,” Ng said in a statement. Proceeds from Tranche 1, valued at up to RM630 million with a 15-year tenor, will go toward developing three green logistics hubs in Pulau Indah, Klang, Selangor. The programme, structured for multi-tranche issuances, will provide financing for FMM House’s future logistics infrastructure projects. “This programme is a key milestone in redefining logistics infrastructure through automation and sustainability. With UOB Malaysia’s backing, we are confident in delivering world-class, green-certified developments that create long-term value,” said FMM House director Tan Sri Teo Chiang Hong. The Pulau Indah development will feature automated warehouse storage systems with a gross floor area of 1.67 million square feet, a storage capacity of 218,000 pallets, and both ambient and cold room facilities. The project has also secured pre-certified Gold Status under the Leadership in Energy and Environmental Design (LEED) framework, a globally recognised green building standard.