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The Ministry of Investment, Trade and Industry (MITI) has utilised RM335 million, or 89.6% of the RM374 million allocated for research and development, commercialisation and innovation (R&D&C&I) programmes as of June 30, 2025. Deputy Investment, Trade and Industry Minister Sim Tze Tzin said the total expenditure ceiling approved for MITI under the 12th Malaysia Plan (12MP) up to that date stood at RM402 million. He noted that RM55.64 million in unreturned grants remains outstanding. This consists of RM33.97 million under the High Impact Project Fund (HIF) managed by MIDA, and RM21.67 million under the High Value Added and Complex Product Development (HVAD) programme, which is a continuation initiative by the Ministry of Economy as approved in the MyProjek system. Sim explained that the unreturned RM55.64 million was retained to meet ongoing project commitments. Of the amount, RM33.97 million under HIF is being used to fund approved projects that are still under implementation. Meanwhile, the remaining HVAD allocation is financing 28 new projects approved under the 12MP through Oct 31, 2025, involving about RM20.7 million, which are also currently in progress. He was responding to a question from Mohd Hasnizan Harun (PN-Hulu Selangor) regarding the status of the outstanding grants during the winding-up session of the Auditor-General’s Report on the 2024 financial statements of federal agencies in the Dewan Rakyat. Sim added that MITI acknowledges weaknesses in approvals processed through the MyProjek system and said governance improvements are needed in line with Treasury Circular PA3.2, as recommended by the National Audit Department. To address this, MITI will seek special approval from the Ministry of Economy and the Ministry of Finance to treat the HIF and HVAD programmes as extension projects. This will allow payments for existing commitments that extend beyond the Malaysia Plan period. Any remaining allocation will be returned once the programmes are fully completed, he said.

Shares of India’s IDFC First Bank fell sharply on Monday, dropping as much as 20% after the private lender revealed a suspected fraud of 5.9 billion rupees (around US$65 million or RM252.6 million). The disclosure raised concerns about potential impacts on the bank’s earnings and investor confidence. As of 11:46 a.m. IST, the stock was down 15.8% at 70.29 rupees, marking its lowest level since October 2025, and was on track for its worst trading session in six years. The bank led losses among Indian financial stocks, while the broader benchmark index rose 0.35%. The Mumbai-based lender, which has a loan book of 2.79 trillion rupees (US$30.8 billion) and deposits totaling 2.82 trillion rupees, had previously attracted investments from Warburg Pincus and the Abu Dhabi Investment Authority. IDFC First Bank reported that the suspected fraudulent transactions occurred at a Chandigarh branch, primarily involving government-linked accounts. The irregularities were discovered when entities from the northern state of Haryana attempted to close accounts, and the balances did not match the bank’s records. The issue surfaced about a month ago, and the Reserve Bank of India (RBI) is aware of the matter. RBI governor Sanjay Malhotra confirmed there is no systemic risk to the banking system. In response, the bank has suspended four employees and engaged KPMG to carry out an independent forensic audit. Analysts estimate the potential financial impact to be significant but manageable. UBS estimated the fraud at roughly 22% of the bank’s fiscal 2026 net profit after tax, while Morgan Stanley pegged the potential hit to profit before tax at about 20%. The bank also has employee dishonesty insurance, with potential recoveries of 350 million rupees. The suspected fraud could affect the bank’s handling of government cash balances, which are considered lucrative due to their volume. Following the disclosure, the Haryana state government removed IDFC First and AU Small Finance Bank from its approved list of banks for holding government accounts. AU Small Finance clarified that preliminary reviews show no financial impact or evidence of fraud on its side, though its shares still dropped 7.74%, their steepest decline in over a year. Macquarie analysts noted that government deposits in private banks are likely to face heightened scrutiny. IDFC First’s management indicated that deposits from Haryana account for just 0.5% of total deposits, suggesting the overall impact is manageable.

Bursa Malaysia Bhd will begin providing more detailed information on investor trading activity starting April 6, 2026, in a move aimed at improving transparency and market insight. Under the new initiative, the stock exchange will differentiate nominee accounts held by institutional and retail investors. This distinction is intended to give a clearer view of trading participation across different investor segments, allowing market participants and regulators to better understand who is driving market activity. In addition, the exchange will reclassify investment flows of foreign-owned companies incorporated in Malaysia based on the source of the investment funds, rather than merely ownership. This change is designed to more accurately reflect domestic investment activity and provide a realistic picture of how local and foreign capital is moving through the market. Bursa Malaysia said the initiative responds to the growing use of nominee structures, which can sometimes obscure the true identity of investors and make market analysis more challenging. By providing enhanced data, the exchange aims to ensure information remains relevant, transparent, and reflective of current trading behaviours and market dynamics. The move also comes amid heightened scrutiny of market transparency in the region. Last month, index provider MSCI warned Indonesia that the country could face a downgrade to frontier market status as early as May due to opacity in its markets, which may have facilitated potential price manipulation. Bursa Malaysia’s initiative signals the exchange’s commitment to maintaining investor confidence and aligning with international best practices by offering greater clarity on market participation. Overall, the new reporting measures are expected to benefit a broad range of stakeholders, from individual investors and fund managers to regulators and analysts, by providing a more accurate and comprehensive view of market activity in Malaysia.

Gadang Holdings Bhd has announced that it has secured its second contract to widen a section of the Kuala Lumpur-Karak Highway, with the latest project valued at RM95.14 million. The award was granted to Gadang’s wholly owned subsidiary, Gadang Engineering (M) Sdn Bhd, by AFA Construction and Engineering Sdn Bhd (AFACE), according to a Bursa Malaysia filing on Monday. This latest contract forms part of a larger highway widening programme covering the stretch from KM19.2 to KM64.5, specifically under Package 1A. The project is scheduled to span 18 months and is expected to be completed by the second half of 2027. Gadang said the new contract is anticipated to contribute positively to the group’s earnings over the duration of the project. This follows a similar widening project awarded to Gadang in June last year, valued at RM92.5 million and set for completion in the final quarter of 2026. Together, the two projects reflect Gadang’s growing presence and expertise in infrastructure development, particularly in major highway construction and expansion works. AFACE, the awarding entity, is a subsidiary of AFA Prime Bhd (formerly Anih Bhd), the concessionaire of the Kuala Lumpur–Karak Highway. AFA Prime is wholly owned by Tan Sri Dr Azmil Khalili Khalid. Gadang shares closed unchanged at 22.5 sen on Monday, giving the group a market valuation of RM180.2 million. The stock has experienced a 25% decline over the past year, despite the steady flow of infrastructure contracts. The company said that the KL-Karak Highway projects demonstrate its capability to handle large-scale civil engineering works and strengthen its position as a key contractor in Malaysia’s infrastructure sector. With multiple ongoing projects in its order book, Gadang is positioning itself to benefit from the continued expansion of highway and transportation networks across the country.