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The operator of 7-Eleven stores, Seven & I Holdings Co., may once again become a buyout target if its latest turnaround efforts fall short. This comes after Canadian convenience store giant Alimentation Couche-Tard withdrew its takeover proposal earlier this week, and Seven & I’s shares have fallen over 20% year-to-date. New CEO Stephen Dacus is under growing pressure to prove that his reform strategy can deliver results, particularly in core markets like the U.S. and Japan, where rising costs and soft consumer demand are squeezing margins. 7-Eleven – CEO Stephen Dacus To support its share price, Seven & I has committed to a ¥2 trillion share buyback over five years. However, the stock has continued to slide — down nearly 8% since the buyback was announced in March. Part of the funding was expected to come from a U.S. unit IPO, but Couche-Tard’s departure has cast doubt on that plan. Analysts say further shareholder-friendly moves will be difficult, as the company has already undertaken major restructuring, including the planned sale of underperforming retail businesses by September. These were part of broader reforms triggered by Couche-Tard’s interest. The failed takeover, which would have been Japan’s largest foreign buyout, ended on a bitter note. Couche-Tard accused the company’s founding Ito family and board of stalling discussions, while Seven & I said it was disappointed by the withdrawal and disputed many of the claims. Now, the company’s focus turns to improving performance in its core convenience store segment — something investors have long pushed for. Two years ago, activist fund ValueAct tried but failed to replace former CEO Ryuichi Isaka, urging a stronger focus on the convenience business. Seven & I’s latest earnings show challenges remain. Operating profit rose nearly 10% year-on-year to ¥65.1 billion for the March–May period, but it was still the second-lowest quarterly result in a decade. Domestic same-store sales barely moved, and while the U.S. unit remained profitable through cost cuts, revenue remained soft. Investors will be closely watching Dacus’s upcoming strategy update in August, where he’s expected to outline how he plans to strengthen the core business. The company has a history of reform under investor pressure. Activist interventions in 2016 and 2022 led to major leadership changes and divestments, including the sale of Sogo & Seibu to Fortress Investment Group. Analysts say Couche-Tard’s involvement accelerated the latest changes. Even though the Canadian firm has exited, its unusually detailed breakup letter — which disclosed discussions, termination fees, and alternative deal options — may spark interest from other potential buyers or activists. One possibility is a revival of a management-led buyout. A ¥9 trillion proposal involving the Ito family and Itochu fell through in March due to financing issues. But with the stock price under pressure, the door remains open for insiders to make another move to take the company private.

Oiltek International has announced plans for a secondary listing on Bursa Malaysia as part of its strategy to broaden its investor base. The company, one of the top-performing stocks on the Singapore Exchange with a 390% gain over the past year and more than double year-to-date, said the proposed listing aims to improve share liquidity and boost its overall market value through an additional trading platform. According to its July 21 announcement, Oiltek believes the move will also provide greater flexibility for future fundraising initiatives and facilitate access to multiple equity markets. The company has appointed principal financial advisers in both Malaysia and Singapore to begin the necessary preparations. As of 9:25 a.m., Oiltek’s shares rose 0.68% to trade at 74 cents.

SEOUL, Hyundai Motor Co. and its affiliate Kia Corp. have made their debut in the top five best-selling car brands in the UK, according to June data from the Society of Motor Manufacturers and Traders (SMMT). Hyundai sold 10,109 vehicles in the UK last month, marking a 9.9% year-on-year increase and securing fourth place in the rankings. Despite a 2.6% dip in sales to 10,043 units, Kia still clinched fifth place. The strong performance was largely driven by continued demand for popular SUV models like the Hyundai Tucson and Kia Sportage. With the upcoming launch of its new all-electric flagship SUV, the Ioniq 9, Hyundai is on track to exceed 100,000 vehicle sales in the UK this year.

KUALA LUMPUR – The Human Resource Development Corporation (HRD Corp) has named Syed Alwi Mohamed Sultan as its new chief executive officer, effective Monday. Syed Alwi, 51, is a seasoned professional with over 27 years of experience in financial services, banking technology, and management consulting. His previous leadership roles include heading BNP Paribas Malaysia Bhd and Agrobank, as well as holding senior positions at Standard Chartered Saadiq, The Islamic Bank of Asia, and Hong Leong Bank. According to HRD Corp, his appointment follows the resignation of former CEO Datuk Shahul Hameed Dawood in April, with chief strategy officer Rony Ambrose Gobilee having served as acting CEO in the interim. Syed Alwi, an accounting graduate from the International Islamic University Malaysia, also holds an MBA in Islamic Finance and a PhD in finance from Universiti Malaya. He has also led UMPSA Holdings Sdn Bhd, a subsidiary of Universiti Malaysia Pahang Al-Sultan Abdullah, and was involved with MRANTI Corporation, the agency responsible for research and innovation commercialisation in the country. HRD Corp oversees the collection of training levies from around 800,000 employers to fund workforce development and upskilling initiatives.

KUALA LUMPUR, Malaysia’s Auditor General has flagged serious irregularities and weaknesses in government projects and programmes worth RM48.78 billion involving seven ministries. In the latest Auditor General’s Report, Datuk Seri Wan Suraya Wan Mohd Radzi outlined 22 recommendations aimed at improving oversight and accountability across the ministries, departments, and government-linked companies involved. She noted that follow-up audits carried out between 2024 and June 2025 have led to the recovery of RM157.73 million through penalties, taxes, fines, liquidated damages, and arrears on rent and leases. The National Audit Department’s powers were recently expanded under amendments to the Audit Act 1957, allowing it to monitor corrective actions taken based on past audit findings. Among the issues identified were: Felcra Bhd’s RM241.76 million lease acquisition of oil palm plantations (2022–2024), which raised concerns over governance. Universiti Kebangsaan Malaysia’s tender processes involving RM58.45 million, which showed procurement irregularities. The Malaysian Army’s contract administration and procurement of armoured vehicles between 2020 and 2023, marked by oversight weaknesses. The Ministry of Domestic Trade and Cost of Living’s subsidised cooking oil programme, which suffered from poor targeting and quota management. The Finance Ministry’s pre-qualification procurement method (2023–2024), which was found to be susceptible to abuse, as unqualified companies were shortlisted despite lacking proper credentials. The report underscores the urgent need for stronger internal controls and better enforcement to prevent mismanagement of public funds.