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Indonesia is exploring a potential merger or acquisition involving the country’s leading ride-hailing and food delivery companies, Grab and GoTo, according to a statement from the presidential spokesperson on Friday. The discussions highlight the government’s focus on the digital mobility sector, which it views as a strategic industry for job creation and economic growth. GoTo’s Gojek unit alone employs over 3.1 million online riders, while both GoTo and Grab have long been dominant players in Indonesia’s ride-hailing and delivery market. Data from Euromonitor International indicates that a combined Grab-GoTo entity would control more than 91% of the domestic market, underscoring the scale of the proposed consolidation. Government spokesperson Prasetyo Hadi emphasized that a decision on the matter is expected soon. “Online riders are economic heroes, driving the economy,” he said, reflecting the government’s recognition of the sector’s role in supporting livelihoods and economic activity. Reports suggest that Nasdaq-listed Grab has been considering a potential acquisition of GoTo since the second quarter of this year, enlisting advisers to assess the feasibility of the deal. Sources familiar with the discussions have indicated that the acquisition could value GoTo at around US$7 billion (RM29.23 billion). GoTo is currently majority-owned by international investors, with SoftBank Group and Taobao China Holding—a subsidiary of Alibaba Group—holding a combined 73.9% stake, while the remaining shares are held by Indonesian investors, according to the company’s 2024 annual report. Neither Grab nor GoTo has provided an immediate comment on the ongoing discussions. If finalized, the merger or acquisition would represent a major consolidation in Indonesia’s digital transportation sector, potentially reshaping competition and the operational landscape for ride-hailing, delivery, and related digital services in the region. This move comes amid a broader trend in Southeast Asia, where ride-hailing platforms are increasingly exploring strategic partnerships, mergers, or acquisitions to strengthen market positions and achieve operational efficiencies in a rapidly evolving digital economy.

Wentel Engineering Holdings Bhd is gearing up for its next growth phase with the construction of a new production facility that will double its current manufacturing floor space. The expanded plant is expected to enhance operational efficiency and boost overall production capacity. According to Apex Securities Research, Wentel is currently trading at undemanding valuations, making it an attractive proposition for investors. The new facility is slated to commence operations in the first half of 2026, providing the company with additional room to scale up output and meet increasing market demand. The investment in the new plant reflects Wentel’s long-term strategy to strengthen its position in the engineering and manufacturing sector while supporting sustainable growth and shareholder value.

Shin Yang Group Bhd has announced an increase in its capital expenditure (capex) plans for the upcoming financial year, aiming to strengthen its operational capacity and support long-term growth across its diversified business segments, including timber, construction, and property development. The group said the increased allocation will focus on upgrading existing manufacturing facilities, expanding its production capabilities, and investing in environmentally sustainable technologies. These investments are expected to enhance operational efficiency and meet rising demand in both domestic and international markets. Shin Yang’s management highlighted that the move aligns with the company’s long-term strategic plan to boost competitiveness and market share while ensuring sustainable growth. “The additional capital expenditure reflects our commitment to modernize our operations and reinforce our presence in key sectors,” said the group’s CEO. “We are confident that these investments will position Shin Yang for stronger performance in the years ahead.” The group also noted that the capex increase will be financed through a combination of internal cash reserves and bank borrowings, without materially affecting the company’s gearing or financial stability. Shin Yang shares closed higher following the announcement, reflecting investor optimism about the company’s growth prospects.

Perak has attracted RM6.25 billion worth of investments across 203 projects as of June 2025, potentially creating more than 5,000 job opportunities, said Menteri Besar Datuk Seri Saarani Mohamad. He noted that the investment value represented a 105% increase compared to the same period last year, while job creation surged 224%, reflecting growing investor confidence in the state’s economy. “This clearly demonstrates investors’ confidence in Perak’s strong and stable investment ecosystem — as steadfast as an anchor that holds firm even in turbulent seas,” Saarani said during his address at the Investiture Ceremony in conjunction with the 69th birthday celebration of Sultan Nazrin Shah at Istana Iskandariah, Kuala Kangsar. Also present were Raja Permaisuri Perak Tuanku Zara Salim and other state dignitaries. Saarani highlighted that Perak’s labour force participation rate rose to 67.4% in the second quarter of this year from 65.6% a year earlier, while the unemployment rate dropped to 3.2% from 3.4% in the same period. Under the first rolling plan of the 13th Malaysia Plan, a total of 466 projects valued at RM1.84 billion have been approved, covering infrastructure, education, healthcare, social facilities, and industrial development. Key developments include: The upgrading of the PLUS Expressway from Slim River to South Ipoh The Perak Halal Industrial Park in Manjung The construction of the Tanjung Rambutan Health Clinic “These projects will bring direct benefits to the people’s well-being,” he added. Looking ahead, Perak will benefit from continued federal support in the 2026 Budget, particularly for major initiatives such as the Kerian Integrated Green Industrial Park expansion and the Lumut Maritime Industrial City, both of which aim to strengthen the state’s position as a hub for green and maritime industries. Saarani said the state’s gross domestic product (GDP) grew 4.4% in 2024, up from 2.7% in 2023, with total output increasing to RM86.2 billion from RM82.6 billion. The growth was driven primarily by the services (63.3%) and manufacturing (19.4%) sectors, followed by agriculture (14%), construction (2.6%), and mining (0.6%). “These figures show the resilience of Perak’s economy and the people’s determination to improve their livelihoods,” he said. As of Nov 7, Perak had collected RM1.1 billion in revenue, putting it on track to achieve its RM1.4 billion target and offset a projected RM81.8 million deficit in the 2025 budget. “With continued prudent management, we are confident Perak will record a budget surplus for the fourth consecutive year,” Saarani said.