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Toyo Ventures Holdings Bhd has announced that its group managing director, Chew Cheong Loong, will step down from his role effective Saturday, Feb 28. Chew, 58, who has been on the board since March 2019, is resigning to “pursue personal interests,” according to a Bursa Malaysia filing. No replacement has been announced. Chew’s exit comes at a challenging time for the group. Toyo Ventures is dealing with the fallout from the cancellation of the Song Hau 2 thermal power plant project in Vietnam, which had been central to its growth strategy. The group has previously stated it is in discussions with the Vietnamese government regarding the project. In addition to project setbacks, Toyo Ventures experienced a major shareholder change last October, when former largest shareholder Eng Lian (L) Inc sold 32.8 million shares, reducing its stake from 25.76% in June 2025 to 5.9%. Eng Lian first became a substantial shareholder in February 2021. Other major shareholders include executive director Tham Kut Chong with 12.2% and Lam Peng Kee with 7.44%. Alongside Chew’s departure, the group also announced the appointment of Ng Jing-Yi as a non-independent, non-executive director, effective the same day. Toyo Ventures shares closed unchanged at 19.5 sen, giving the group a market valuation of RM31.54 million.

Transport Minister Anthony Loke has confirmed that twenty-six new train sets for the Kelana Jaya Light Rail Transit (LRT) line are expected to be delivered by 2028, marking a key step in efforts to modernise Kuala Lumpur’s rail network. Loke explained that the acquisition is part of Prasarana Malaysia Bhd’s ongoing strategy to stabilise and upgrade the ageing Bombardier 818 Series train sets, which have been in service for several years. As part of this plan, the early procurement of additional spare parts for the 818 train sets has also been undertaken to ensure continued reliability and minimise service disruptions. The move follows the addition of 27 Bombardier Innovia Metro 300 train sets under the Kuala Lumpur Additional Vehicle 27 (KLAV27) programme, the final unit of which began operations last year, enhancing overall capacity on the LRT network. “The KLAV27 programme has significantly improved commuter experience and train availability, and the new 26 trains for the Kelana Jaya line will build on this progress,” Loke said in a Facebook post on Friday. In addition to new train procurement, Loke urged Prasarana’s management to strengthen its maintenance strategy and improve communication with the public. “Maintenance works are non-negotiable. We must ensure that issues with the 818 train sets do not overshadow the improvements achieved over the past three years,” he added. The ministry has also directed Prasarana to implement contingency plans for the 818 train sets to ensure uninterrupted services. The RM1 billion allocation in Budget 2026 will cover the replacement of these 26 new trains, reflecting the government’s commitment to enhancing public transport services, increasing commuter capacity, and improving reliability on the Kelana Jaya LRT line. The new trains are expected to provide more comfortable and efficient rides for passengers while supporting Kuala Lumpur’s broader goal of modernising its urban transit network and encouraging greater use of public transportation.

A prominent Malaysian family is allegedly linked to a plot to destabilise and overthrow the government. Inspector-General of Police Datuk Seri Mohd Khalid Ismail confirmed on Friday (Feb 27) that authorities are investigating a police report concerning an alleged attempt to bring down the current administration. According to the report, the family — which is currently involved in an ongoing legal dispute — is said to have engaged a United Kingdom-based media consultancy firm to orchestrate a smear campaign targeting the government and the Prime Minister. A copy of the police report, which has been circulating widely on social media, indicates that it was lodged at the Brickfields police station at about 10.30am on Thursday (Feb 26). The Star is seeking official confirmation from Brickfields police regarding the authenticity of the report. The document shows that the complaint was filed by an editor after he came across a report by a foreign news agency concerning Malaysian Anti-Corruption Commission (MACC) chief Tan Sri Azam Baki. The editor alleged that he had previously met a member of the family to explore a potential collaboration on producing a biography and documentary. However, he claimed that during a subsequent Zoom meeting, discussions allegedly turned towards plans to launch attacks against the government. Police investigations into the matter are ongoing.