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KUALA LUMPUR, Monash University Malaysia has confirmed plans to build a RM2.8 billion campus in the Tun Razak Exchange (TRX), Malaysia’s premier international financial district. The announcement was made on Tuesday in collaboration with TRX City Sdn Bhd, the master developer of TRX, finalising earlier reports that the university was in advanced discussions to lease a purpose-built facility in the area. The new TRX campus is slated to be operational by 2032 and will have the capacity to accommodate up to 22,500 students and 1,700 staff. Monash University is working closely with both the Australian and Malaysian governments to bring the project to fruition. The announcement was made by Monash University vice-chancellor and president Professor Sharon Pickering in Kuala Lumpur, alongside Australian Prime Minister Anthony Albanese and Malaysia’s Higher Education Minister Datuk Seri Dr Zambry Abd Kadir. Albanese highlighted the significance of the investment, noting that it not only promotes Australia’s higher education sector abroad but also strengthens international ties and creates opportunities for Australian jobs and investment. The TRX campus will complement Monash University Malaysia’s existing campus in Bandar Sunway and plans to offer more than 35 new courses in high-demand sectors, including digitalisation, artificial intelligence and cybersecurity, climate change and sustainability, healthcare and digital health, semiconductor and advanced manufacturing, and banking and finance. Professor Emeritus Datuk Dr Adeeba Kamarulzaman, president of Monash University Malaysia, said the decision to invest in TRX reflects the university’s strong growth in research and education. The project is expected to contribute around RM19.1 billion to the Malaysian economy over the next decade. From its humble beginnings with just 417 students when it was established as Malaysia’s first foreign university campus in Sunway, Monash University Malaysia now educates over 11,000 students from more than 80 countries.

KUALA LUMPUR, UEM Sunrise Bhd (KL), the property development arm of Khazanah Nasional Bhd’s UEM Group Bhd, has appointed experienced corporate executive Shaharul Farez Hassan as its new managing director and chief executive officer (CEO), effective Nov 17. The appointment ends an eight-month leadership vacuum at the company following the resignation of former CEO Sufian Abdullah in February this year. Shaharul Farez Hassan has been appointed UEM Sunrise Bhd’s managing director and chief executive officer. Shaharul Farez, 55, brings with him more than three decades of experience across multiple industries, including property development, automotive, and energy. He most recently served as the chief operating officer of DRB-Hicom Bhd (KL) from 2016 to 2022, where he played a key role in driving operational transformation across the conglomerate’s portfolio of businesses. Prior to that, he helmed Tradewinds Corp Bhd as group chief executive officer from 2008 to 2015, overseeing its diversified interests in hospitality, plantations, and property. His career also includes a stint as executive vice president of corporate at Malakoff Corp Bhd (KL) between 2015 and 2016. In addition to his management roles, UEM Sunrise noted that Shaharul Farez also served as a board member of Proton Holdings Bhd, contributing to the national carmaker’s strategic realignment and growth initiatives. “His extensive leadership experience and strong corporate background will be instrumental in steering UEM Sunrise through its next phase of growth and value creation,” the group said in a filing with Bursa Malaysia on Tuesday. Grace Yap Mei Wan In a separate announcement, UEM Sunrise also named Grace Yap Mei Wan, 58, as an independent non-executive director, effective Nov 3. Yap currently serves on the boards of Bata Malaysia Sdn Bhd and Sungei Bagan Rubber Co (M) Bhd (KL), bringing over 30 years of experience in finance and corporate governance. At Tuesday’s close, UEM Sunrise shares fell one sen or 1.47% to 67 sen, valuing the property developer at RM3.39 billion.

KUALA LUMPUR, PeterLabs Holdings Bhd announced that it has reached an amicable resolution with its substantial shareholders — former executive director Datuk Loh Saw Foong and his wife, Datin Lin Ching Yein — effectively ending all disputes between the parties related to the company and its subsidiaries. In a joint statement on Tuesday, PeterLabs, together with its subsidiaries PeterLabs Sdn Bhd (PSB) and Thye On Tong Trading Sdn Bhd (TOTT), confirmed the signing of a settlement agreement with Loh and Lin. The agreement, they said, represents the mutual intention of all parties to achieve “finality and closure” regarding issues tied to the management, operations and affairs of PeterLabs, PSB and TOTT. While specific details of the settlement were not disclosed, the agreement brings to a close a series of disputes that began in May this year. The conflict stemmed from an internal investigation into alleged misconduct by Loh, which led to his temporary suspension. The probe also prompted an investigation by the Malaysian Anti-Corruption Commission (MACC), which raided the offices of both PeterLabs and TOTT following a report lodged by the company. PeterLabs later reinstated Loh, and on Tuesday, he officially resigned from his position as executive director, citing personal reasons and other commitments. Together, Loh and Lin hold a combined stake of over 10% in the group. The settlement also paves the way for the conclusion of two ongoing legal proceedings. The first involves a lawsuit filed by Loh and Lin against PeterLabs, PSB, TOTT and several of its directors and contractors, alleging that the companies’ affairs were conducted oppressively and against their interests. The second is a defamation suit initiated by PeterLabs and PSB against Loh and Dagang News Sdn Bhd, linked to an online article published in July. “Moving forward, the parties have agreed to honour their respective obligations under the settlement agreement in good faith,” the joint statement read. At market close on Tuesday, PeterLabs’ shares fell 1.5 sen or 6.25% to 22.5 sen, valuing the company at RM61.92 million.

KUALA LUMPUR, Khazanah Nasional Bhd has channelled more than RM6 billion into the development of Medini Iskandar and Desaru Coast in Johor, according to the Ministry of Finance (MOF). In a written parliamentary reply on Tuesday, the MOF said the investments aim to attract private capital and generate employment opportunities, particularly in property development, housing, education and tourism across the two key destinations. Yeo asked about the development status and investment amount for Medini Iskandar and Desaru Coast. “Khazanah’s investments are aligned with the government’s mandate to position Iskandar Malaysia as a special economic corridor, with expansion into Desaru Coast complementing broader development efforts in Johor,” the ministry said. It added that large-scale developments such as Medini Iskandar and Desaru Coast typically require a long gestation period of between 30 and 40 years, supported by catalytic investments to unlock their full potential. The MOF noted that Medini Iskandar has been designated as Zone B under the Johor-Singapore Special Economic Zone (JS-SEZ), while Desaru Coast falls within Zone G. “Efforts will continue to be intensified to ensure both developments contribute meaningfully to Malaysia’s economic growth and strengthen the nation’s appeal as a preferred investment destination,” the statement said. Separately, the MOF also disclosed that Petroliam Nasional Bhd’s (Petronas) dividend to the government is projected to decline to RM20 billion in 2026, from an estimated RM32 billion in 2025. It said petroleum-related revenue is expected to fall 24% to RM43 billion in 2026, compared to RM56.6 billion estimated for this year, due to lower global crude oil prices. “The government remains committed to reducing its reliance on petroleum-related income amid global oil market volatility. From a fiscal standpoint, the federal government will continue to prioritise spending optimisation, sustainable revenue generation and comprehensive economic reforms to support long-term growth,” the ministry added.