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The Malaysian Anti-Corruption Commission (MACC) has launched an investigation into 26 companies suspected of involvement in army procurement projects. Sources said the owners of all 26 companies are also under investigation, and authorities have not ruled out the possibility of remanding them to assist with the probe. “The MACC began investigating all 26 companies at around 11am today, across multiple locations in the Klang Valley, Perak, and Penang,” the sources told Bernama. On Dec 23, MACC officers visited the Ministry of Defence (Mindef) to review projects awarded through open tender procurement as well as those carried out under the Pusat Tanggungjawab (PTJ) Tentera Darat framework. The following day, Dec 24, three individuals were summoned to give statements in connection with the case. MACC chief commissioner Tan Sri Azam Baki confirmed the investigation, saying the case is being probed under Sections 17 and 23 of the MACC Act 2009. Separately, on Dec 22, activist Badrul Hisham Shaharin, also known as Chegubard, claimed that forensic checks on documents he received anonymously showed alleged monthly deposits amounting to tens of thousands of ringgit into accounts linked to a senior military officer and family members.

MMAG Holdings Bhd’s largest shareholder, businessman Datuk Seri Farhash Wafa Salvador Rizal Mubarak, has sold his entire 19.9% stake in the company at a significant premium and has stepped down as chairman. Datuk Seri Farhash Wafa Salvador Rizal Mubarak has stepped down as MMAG Holdings Bhd’s chairman. In a bourse filing on Monday, MMAG said Farhash, who is a former political secretary to Prime Minister Datuk Seri Anwar Ibrahim, disposed of 462 million shares on Dec 31 at 18.9 sen per share, valuing the transaction at RM87.32 million. The disposal price was more than double MMAG’s closing price of seven sen on Dec 31. Farhash became MMAG’s largest shareholder in March 2025 after acquiring the 19.9% stake and was subsequently appointed chairman of the company. While the acquisition price was not disclosed at the time, Bloomberg off-market data showed that 462 million shares were traded in four tranches at 40 sen per share, amounting to RM184.8 million. In a separate filing, MMAG said Farhash had resigned as non-executive chairman, effective Jan 2, citing the need to “pursue personal commitments”. Farhash’s emergence as a substantial shareholder in March 2025 came a day after NexG Bhd acquired a 7.54% stake in MMAG. Prior to Farhash’s appointment, MMAG was chaired by former public service director-general Tan Sri Mohd Khairul Adib Abd Rahman, who had earlier that month become a substantial shareholder in NexG and resigned from MMAG to pursue other interests. MMAG shares experienced a sharp sell-off between late October and early November 2025, falling from 57 sen on Oct 29 to 8.5 sen on Nov 7, which triggered an unusual market activity (UMA) query from Bursa Malaysia. The company later said it was unaware of any reasons for the sharp price movement. The share price has yet to recover since then. On Monday, MMAG shares closed unchanged at seven sen, giving the company a market capitalisation of RM162.48 million.

Pharmora Investment Holdings Pte Ltd has successfully completed its takeover offer for Apex Healthcare Bhd and is moving to delist and privatise the pharmaceutical group. In a press statement issued by UOB Kay Hian (M) Sdn Bhd, Pharmora and parties acting in concert said they had secured a 95.43% stake in Apex Healthcare as at the close of the voluntary takeover offer on Monday (Jan 5). This exceeds the 90% threshold required for delisting from Bursa Malaysia. Pharmora and persons acting in concert secured a 95.43% stake in Apex Healthcare at the voluntary takeover offer’s close on Monday (Jan 5). Following this, Bursa Securities will suspend trading in Apex Healthcare shares from Jan 13, while Pharmora and its joint ultimate offerors will proceed with the necessary steps to delist the company. Pharmora is a special purpose vehicle of healthcare-focused private equity firm Quadria Capital Investment Management Pte Ltd, which is backed by Temasek Holdings (Private) Ltd and the Employees Provident Fund. The takeover was undertaken in partnership with Apex Healthcare’s major shareholder Dr Kee Kerk Chin, who is also the group’s chairman and chief executive officer. The offerors will also compulsorily acquire the remaining shares they do not already own. Valid acceptances had crossed the 90% threshold on Dec 30, 2025, enabling compulsory acquisition of shares held by dissenting shareholders. A compulsory acquisition notice is expected to be issued by Feb 28. The RM2.64 per share takeover offer was launched on Nov 28, 2025. It became unconditional on Dec 22 and was extended to Jan 5 after the closing date was initially pushed back from Dec 19 to Jan 2. Shares in Apex Healthcare closed four sen or 1.52% lower at RM2.60, valuing the group at RM1.88 billion.

CIMB Group is preparing to issue tokenised bonds and sukuk as Malaysia’s regulators move forward with securities tokenisation. The group said it plans to develop tokenised financial services covering assets, settlement and payment infrastructure under the Securities Commission Malaysia’s (SC) industry pilot programme on securities tokenisation. The initiatives will be introduced in phases. CIMB is also engaging with Bank Negara Malaysia (BNM) to seek participation in the Digital Asset Innovation Hub. Group chief executive officer Novan Amirudin said the group is pleased to take a leading role in supporting the development of a modern and resilient financial market infrastructure in Malaysia. “In line with our purpose of advancing customers and society, as well as our Forward30 strategic plan, we are strengthening our digital and tokenisation capabilities to unlock real opportunities and broaden market access across the financial ecosystem,” he said. As an initial step, CIMB has committed to participate in the tokenised sukuk issuance pilot by Khazanah Nasional Bhd and the Securities Commission. The bank will support the programme across structuring, execution, custody arrangements and lifecycle servicing, with the pilot expected to run until 2026. CIMB noted that it has issued approximately RM40 billion worth of conventional bonds and Islamic sukuk in Malaysia over the past three years. As its digital asset capabilities mature, the group intends to raise part of its future funding through tokenised bond and sukuk issuances. The bank said its tokenisation efforts are aimed at improving efficiency in payments and capital markets. It is also developing capabilities to support tokenised deposits for settling tokenised securities. According to CIMB, tokenised deposits could reduce manual processing and reconciliation while enhancing transparency and operational efficiency. Novan said well-designed asset tokenisation has the potential to transform the industry by improving accessibility, efficiency and transparency, particularly in payments and wholesale banking. “We will start with practical, use-case-driven applications within regulatory frameworks and supported by strong governance and controls. Through close collaboration with partners such as Khazanah, we aim to scale innovation responsibly and deliver tangible value to the market,” he said. CIMB added that it is working closely with BNM and the Securities Commission to ensure alignment with regulatory requirements, noting that any product rollout will be subject to legal, internal approval and technology readiness conditions.