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Kakao has officially denied rumours that it is looking to sell its entertainment arm, Kakao Entertainment, following months of market speculation. In a regulatory filing on Thursday, the South Korean internet giant clarified that while it had reviewed potential changes to Kakao Entertainment’s shareholder structure, the review has since been halted. “We reviewed potential adjustments to Kakao Entertainment’s shareholder structure but have decided to discontinue the review,” the company said. “Moving forward, we will continue to explore various strategic options aimed at strengthening Kakao Entertainment’s global footprint and enhancing its overall business competitiveness.” This marks Kakao’s first formal statement addressing widespread speculation that it had informed shareholders — including Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) — of its intention to sell management control of Kakao Entertainment. Kakao Entertainment, a subsidiary of Kakao, operates across multiple segments, including web content production, music distribution, and talent management. The company plays a significant role in Kakao’s efforts to expand into global entertainment markets, and Kakao’s latest statement signals its commitment to retaining and growing the business rather than divesting it.

KUALA LUMPUR, South Korea’s Lotte Corp, through its subsidiary Lotte GRS, is set to bring its popular burger chain Lotteria to Malaysia in partnership with Serai Group Sdn Bhd. The move is part of Lotte’s plan to grow its K-burger presence across Southeast Asia and beyond. The partnership, formalised at the Lotte World Tower in Seoul, marks a major step in Serai Group’s expansion within Malaysia’s food and beverage industry. Under the deal, Serai Group will open 30 Lotteria outlets nationwide over the next five years, starting with the first branch by the end of 2025. The agreement does not allow sub-franchising or operations outside Malaysia. Founded in 1979, Lotteria is among South Korea’s most popular quick-service restaurant brands, with a strong presence in Vietnam, Myanmar, Laos and Mongolia. Its Malaysian debut will focus on adapting the menu to local tastes while maintaining its signature quality. Serai Group, known for brands such as Serai, Jibby & Co and Jibby Chow, sees the venture as more than just launching a new franchise.“This is a chance to offer Malaysians a unique fast-food experience that combines global favourites with local flavours,” said Serai Group managing director Datuk Mohd Najib Abdul Hamid. Lotte GRS chief executive officer Woo-Chul Cha said the company is committed to ensuring Lotteria’s successful localisation and long-term growth in Malaysia.

KUALA LUMPUR, Hyatt Hotels Corporation has opened Park Hyatt Kuala Lumpur, marking the luxury brand’s debut in Malaysia and its 50th property worldwide. Occupying the upper floors of Merdeka 118 — the tallest building in Asia Pacific and the second tallest in the world — the hotel spans levels 75 to 114, offering sweeping views of Kuala Lumpur’s skyline and setting a new standard for luxury hospitality in the city. Permodalan Nasional Berhad group chairman Raja Tan Sri Arshad Raja Tun Uda described the opening as a key milestone for the landmark Merdeka 118 development, calling it part of a legacy project that will boost community growth, national pride, and heritage tourism. “Merdeka 118 will uplift communities and contribute to Kuala Lumpur’s long-term vibrancy under the Warisan KL initiative, which celebrates heritage and revitalises the city,” he said. David Udell, Hyatt’s group president for Asia Pacific, noted that the launch represents a major step in the brand’s global expansion, with Kuala Lumpur seeing three new Hyatt properties open within a year. The “sanctuary in the sky” features 252 rooms, including 27 suites, all with floor-to-ceiling windows and city views. Interiors blend refined elegance with locally inspired art, offering a tranquil setting for both business and leisure travellers. General manager Herman Kemp highlighted the hotel’s location in the historically rich Merdeka 118 precinct, near the vibrant Petaling Street Chinatown. Guests can expect experiences that combine Malaysian culture with Park Hyatt’s signature understated luxury — from local art and design to curated wellness offerings and elevated dining concepts.

KUALA LUMPUR, Able Global Bhd announced today that its executive director and executive chairman, Ng Keng Hoe, has been discharged and acquitted of all alleged corruption charges. On 7 August 2025, the Shah Alam Sessions Court cleared Ng of all accusations under Section 403 of the Penal Code, read together with Section 109, following investigations by the Malaysian Anti-Corruption Commission (MACC) earlier this year. “With the case now concluded, Ng will resume his administrative and executive duties in the company’s operations. Able Group remains committed to maintaining the highest standards of corporate governance and transparency,” the company said.