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KUALA LUMPUR, Bank Negara Malaysia (BNM) has imposed a total of RM3.445 million in administrative monetary penalties (AMPs) on Bank Islam Malaysia Bhd (BIMB) for breaches of the Islamic Financial Services Act 2013 (IFSA) and related regulatory requirements. In a statement today, the central bank said the penalties relate to non-compliance with its Risk Management in Technology Policy Document (RMiT PD) and the Anti-Money Laundering, Countering the Financing of Terrorism, and Targeted Financial Sanctions Policy Document (AML/CFT and TFS for FIs PD). BIMB paid: RM1.70 million on May 29, 2025, for breaches in sanctions screening compliance, and RM1.745 million on June 30, 2025, for prolonged service disruptions. Separately, BNM imposed a RM2.85 million penalty on Bank Kerjasama Rakyat Malaysia Bhd (BKRM) for non-compliance with the Development Financial Institutions Act 2002 (DFIA) and the RMiT PD. BKRM paid the full amount on June 26, 2025. Bank Simpanan Nasional (BSN) was also fined RM995,000 for similar breaches under the DFIA and the RMiT PD. BSN settled the penalty on June 25, 2025.

SINGAPORE, Keppel Corporation has appointed former DBS CEO Piyush Gupta as its deputy chairman and non-executive independent director, effective July 1. In addition to his board role, Gupta will also join three key committees: the nominating committee, remuneration committee, and the board sustainability and safety committee. Gupta stepped down as CEO of DBS in March after a 15-year tenure. He currently serves in multiple leadership roles, including chairman of the Singapore Management University’s board of trustees, chairman of Mandai Park Holdings, and board member of the National Research Foundation and the Ministry of Trade and Industry’s Future Economy Advisory Panel. In a statement issued on May 29, Keppel chairman Danny Teoh praised Gupta’s leadership at DBS and expressed confidence in his ability to support Keppel’s transformation into a global asset manager with strong operational capabilities. With Gupta’s appointment, Keppel’s board will consist of nine directors, including seven independent directors. Gupta said: “Keppel is an iconic Singapore institution with a rich legacy. It is now at a pivotal point as it evolves into a global asset manager with strong operating strengths.” Keppel’s shares closed at S$6.85, up S$0.06 (0.9%) on Thursday, ahead of the announcement.

PETALING JAYA, Bank Negara Malaysia (BNM) has imposed more than RM7 million in administrative penalties on three banks for breaching regulatory requirements, primarily involving prolonged system downtime and failures in sanctions screening compliance. In separate statements issued today, the central bank revealed that Bank Islam was fined a total of RM3.45 million, Bank Rakyat was penalised RM2.85 million, and Bank Simpanan Nasional (BSN) received a RM995,000 fine. The penalties were issued for violations of the Development Financial Institutions Act 2002, the Islamic Financial Services Act 2013, and BNM’s policies on technology risk management, anti-money laundering, financial sanctions, and counter-terrorism financing. Bank Islam Bank Islam was hit with two separate penalties: RM1.75 million for extended service disruptions between June 2023 and December 2024, caused by delayed system recovery that impacted its digital banking services. RM1.7 million for shortcomings in sanctions screening processes, including delays in screening non-customer beneficial owners and the bank’s customer base, which led to late identification of matches with sanctioned entities. The bank also failed to report its findings in a timely manner. BNM cited weak internal controls, insufficient training, and poor oversight as contributing factors. However, Bank Islam has since taken corrective measures, including upgrading its IT systems and enhancing sanctions screening procedures. Bank Rakyat Bank Rakyat was fined RM2.85 million for failing to meet BNM’s system availability requirements, resulting in multiple outages from June 2023 to December 2024. These disruptions affected key banking services such as e-banking, ATMs, and card systems, exceeding the central bank’s allowable downtime limits due to inadequate response and recovery protocols. BNM confirmed that Bank Rakyat has strengthened its IT infrastructure and improved system recovery measures. Bank Simpanan Nasional (BSN) BSN received a RM995,000 penalty for similar failures. The bank experienced multiple unplanned service outages between June 2023 and October 2024, impacting ATM, online banking, and card services. The disruptions also exceeded the permitted downtime thresholds due to weak recovery capabilities. BSN has since taken steps to upgrade its technology infrastructure, BNM noted. Regulatory Standards and Enforcement BNM reiterated that all financial institutions must ensure that critical systems do not exceed: Four hours of cumulative unplanned downtime over a 12-month rolling period, and 120 minutes of downtime for any single incident. The central bank stressed the importance of technology resilience to ensure continuous access to essential financial services, warning that enforcement action will be taken regardless of institutions’ past performance. The penalties were calculated based on the severity of the breaches, historical compliance track records, and the effectiveness of remedial actions taken. All three banks have since paid their respective fines.

PARIS, Renault has appointed its Chief Procurement Officer, Francois Provost, as Chief Executive Officer, effective July 31, selecting a relatively low-profile internal candidate to navigate the company through intensifying market competition and sluggish demand—factors that led to a profit warning earlier this month. RENAULT – Francois Provost as Chief Executive Officer The leadership change follows the unexpected departure of former CEO Luca de Meo, who resigned last month to take up a position at luxury conglomerate Kering. In a statement, Renault said:“With extensive international experience in both operational and strategic roles, a deep understanding of the industry’s challenges, and a clear strategic vision, Francois Provost possesses the leadership qualities needed to advance and accelerate Renault Group’s development.”

KUALA LUMPUR, Steel Hawk Bhd, a provider of support services to major oil and gas players, has secured a scaffolding services contract from EPOMS Sdn Bhd for its operational sites. The contract, awarded to its wholly owned subsidiary Steel Hawk Engineering Sdn Bhd (SHESB) on July 25, was disclosed in a filing with Bursa Malaysia on Wednesday. Under the agreement, SHESB will deliver scaffolding services for a duration of two years—from July 25, 2025 to July 24, 2027—with an option to extend for an additional year. Steel Hawk said the contract does not carry a fixed value, as it operates on a call-out basis, with services to be provided as and when required by EPOMS. “The company is engaged by EPOMS to deliver specified services throughout the contract period, subject to demand,” it stated. Despite the flexible arrangement, the contract is anticipated to contribute positively to the group’s financial performance for the financial year ending Dec 31, 2025 (FY2025). This latest award marks Steel Hawk’s fifth contract win in 2025, following four earlier contracts secured from Petronas Carigali Sdn Bhd. As of the time of writing on Wednesday, shares of Steel Hawk were down half a sen or 1.05% at 47 sen, giving the company a market capitalisation of RM230.30 million.

KUALA LUMPUR, Pengerang Terminals (Two) Sdn Bhd (PT2SB) is set to expand its storage and handling capacity by approximately 272,000 cubic metres, marking a significant move in strengthening Malaysia’s position as a key regional oil and gas hub. The expansion will involve a total investment of about RM1.4 billion, which also includes costs associated with the development of shared facilities at the terminal. The announcement was made by Dialog Group Bhd, one of Malaysia’s leading integrated technical service providers in the oil, gas and petrochemical industries. In a filing with Bursa Malaysia, Dialog disclosed that PT2SB — in which Dialog indirectly holds a 25% equity stake — has entered into a terminal usage agreement with Pengerang Biorefinery Sdn Bhd (PBSB). The agreement entails the provision of storage and handling services for PBSB’s feedstock and refined products, further diversifying the types of energy-related materials handled at the terminal. This aligns with Malaysia’s broader energy transition agenda and enhances the terminal’s capabilities to support bio-based and renewable energy sectors. “The proposed development will strengthen PT2SB’s position as a deepwater terminal of choice in the region, while contributing to the long-term sustainability and growth of Dialog’s tank terminal business,” the company said in its statement. Located in Johor’s Pengerang Integrated Complex (PIC), PT2SB is a strategic infrastructure asset jointly developed by Dialog Group, Royal Vopak, and the State Government of Johor. The terminal supports a wide range of storage and logistics services, primarily catering to petrochemical, petroleum and gas-related industries. Industry analysts view the expansion as a timely move, especially with growing demand for energy storage infrastructure amid global shifts in supply chains, refining capacity and sustainability efforts. Dialog Group reaffirmed that the expansion and associated agreements are not expected to have a material effect on its earnings, gearing or net assets for the financial year ending June 30, 2025. However, the long-term outlook remains positive, supported by rising demand for integrated terminal and logistics solutions in Southeast Asia.