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KUALA LUMPUR, Cosmos Technology International Bhd announced that Singapore-listed MSM International Ltd has ceased to be a substantial shareholder after selling 5.13 million shares to the company’s managing director, Datuk Chong Toh Wee. The shares were sold for RM2.02 million, or 39.43 sen each — a 12.67% premium over Cosmos Technology’s last closing price of 35 sen. Following the transaction, Chong’s shareholding rose from 38.87% to 40.87%. After the sale, MSM International holds 10.26 million shares, representing a 4% stake in Cosmos Technology. In a separate filing, MSM International said it plans to sell another 5.13 million shares to Datuk Foong Wei Kuong, the group managing director of JF Technology Bhd, who currently owns 17.95% of Cosmos Technology. Upon completion, MSM International’s stake will drop further to around 2%. MSM International once owned 27% of Cosmos Technology but began reducing its holdings in late 2024. In November that year, it announced the sale of a 21% stake, completed in January 2025 for RM21.24 million at 39.4 sen per share. MSM International is an integrated metal engineering company involved in OEM manufacturing, kitchen appliances, cleanroom systems, and laboratory equipment, while Cosmos Technology focuses on fluid control equipment manufacturing and services. For the first quarter ended July 31, 2025, Cosmos Technology recorded a net profit of RM403,000, slightly down from RM422,000 a year earlier, while revenue rose to RM4.44 million from RM4.31 million. Cosmos Technology’s shares closed unchanged at 35 sen on Wednesday, valuing the company at RM89.78 million.

PETALING JAYA, The Ministry of Energy Transition and Water Transformation (Petra) is streamlining its processes to cut red tape and speed up the rollout of renewable energy (RE) projects awarded through competitive bidding. Deputy Prime Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof said the move aims to support Malaysia’s energy transition goals under the National Energy Transition Roadmap (NETR). He noted that while technology remains central to developing green energy, system reliability and fuel diversity are also key factors to consider as electricity demand continues to rise. “To meet growing demand, Malaysia must address these challenges effectively. The government will continue to maintain competitiveness in the bidding process while encouraging innovation from investors,” Fadillah said in his speech at Malakoff Corporation Bhd’s  50th anniversary celebration on Wednesday night. Under the NETR, Malaysia targets an RE capacity mix of 41% by 2035 and 70% by 2050. Fadillah said Petra continues to play an active role as a facilitator, coordinator and driver of the nation’s energy transition. Among the ministry’s efforts, he highlighted the launch of the Large-Scale Solar (LSS) 5+ programme in January, which offers a record 2,000 megawatts of new solar capacity. Petra is also promoting clean energy access through the Corporate Green Power Programme (CGPP) and the Corporate RE Supply Scheme (CRESS), he added. “These initiatives will help boost renewable energy capacity, enhance market confidence and attract more private investment,” said Fadillah. Also present were Malakoff chairman Tan Sri Che Khalib Mohamad Noh, group CEO Syahrunizam Samsudin and Bernama CEO Datin Paduka Nur-ul Afida Kamaludin.

KUALA LUMPUR, NexG Bhd has clinched its third government contract since late August, following an announcement that the group secured an 18-month extension from the Immigration Department for the continued supply of foreign worker cards. The extension, effective from Nov 1, 2025 to April 30, 2027, builds on the original RM140 million contract awarded on Nov 1, 2022 for 36 months. NexG said the renewal will not be subject to the sales and service tax. This marks the company’s third major public-sector contract in under two months. On Aug 29, its wholly-owned unit Datasonic Technologies Sdn Bhd (DTSB) was awarded a six-year RM1.73 billion contract by the Ministry of Home Affairs to supply Malaysian passports from June 1, 2026 to May 31, 2032. Two weeks later, NexG announced another six-year deal worth RM732.72 million from the same ministry to supply national identity cards — including MyKad and MyTentera — for the same contract period. The passport and MyKad contracts came shortly after the group’s share price plunged nearly one-third following its acquisition of a 32.61% stake in Classita Holdings Bhd, now renamed NexG Bina Bhd. Board shake-up continuesAlongside its contract wins, NexG reported a series of board resignations. Independent directors Datuk Seri Mohd Sopiyan Mohd Rashdi and Datuk Zainal Abidin Abu Hassan stepped down to pursue other interests. Mohd Sopiyan, appointed just a month ago, has extensive experience in financial institutions, while Zainal Abidin previously served as secretary general at the Ministry of Science, Technology and Innovation and the Ministry of Housing and Local Government. Their departures follow the exit of former executive deputy chairman Tan Sri Mohd Khairul Adib Abd Rahman and executive director Datuk Puvanesan Subenthiran on Oct 14. Following the changes, NexG’s board now comprises chairman and CEO Datuk Hanifah Noordin, who holds a 9.28% stake, executive directors Datuk Ab Hamid Mohamad Hanipah and Erna Ismail, and independent directors Datuk Ibrahim Abdullah and Datuk Che Nazli Jaapar. NexG’s shares closed one sen or 2.2% lower at 45 sen on Wednesday, valuing the group at RM1.67 billion. The stock has more than doubled from its April low of 22 sen.

PETALING JAYA, GameOn Theme Park has teamed up with CapitaLand Malaysia and Eco World Development Group Bhd (KL:ECOWLD) to open a series of new family entertainment centres at the developers’ projects across the Klang Valley. At a joint tenancy signing ceremony held on Sunday at the NextGen Theme Park, 1 Utama Shopping Centre, GameOn announced plans to open its flagship outlet at CapitaLand’s The Mines Shopping Mall in Seri Kembangan this November. (From left) Eco World Development Group Bhd executive director and deputy CEO Liew Tian Xiong, GameOn founder and CEO Leroy Lee, The Malaysia Book of Records chief operating officer Jwan Heah, and CapitaLand Investment (Malaysia) general manager (mall management) Alicia Yuen at the joint tenancy signing ceremony on Sunday.   Spanning over 70,000 sq ft, the flagship centre will feature more than 30 attractions, including a ninja obstacle course, water play zone, creative playland, art zones, sports hubs, karaoke rooms, and gaming arenas. Following that, GameOn will introduce a new “Kidpreneur” concept at EcoWorld’s The Labs in Bukit Bintang City Centre, scheduled to open in March 2026. The 32,000-sq-ft space will provide hands-on, role-play experiences to help children explore real-world careers and learn money management through creative play. At the same event, GameOn was recognised by the Malaysia Book of Records as the fastest-growing entertainment centre in Malaysia, earning the title for launching the most edutainment centres in a year — eight outlets in just 18 months. “Partnering with two of Malaysia’s leading developers and receiving this recognition marks a major milestone for us,” said GameOn founder and CEO Leroy Lee. “Our goal is to make world-class family entertainment accessible, affordable, and inclusive, and these partnerships bring us closer to that vision.” Lee added that GameOn aims to open eight to ten new outlets nationwide over the next two years, covering a total of about 500,000 sq ft of space.

KUALA LUMPUR, Lion Industries Corp Bhd is reportedly considering shutting down its two long steel mills in Banting and Bukit Raja, Klang, operated under its wholly owned unit Amsteel Mills Sdn Bhd, according to industry sources familiar with the matter. While details remain limited, sources indicate the potential closures could happen as early as the end of this year. The Banting and Klang facilities — which produce steel bars, speciality bars and wire rods for the construction and manufacturing sectors — are key revenue contributors for Lion Industries. Apart from steel manufacturing, the group is also involved in property development and, through its 74%-owned subsidiary Lion Posim Bhd (KL:LIONPSIM), distributes building materials, sanitary ware, tap fittings, tiles, ironmongery, and lubricants. In response to queries from The Edge, a company spokesperson said: “Amsteel is in operation, though the steel industry, domestically and globally, continues to face challenging times. The company remains focused on improving operational efficiency, enforcing strict cost controls, diversifying its product range, and pursuing sustainable growth.” Financial filings show that Amsteel has recorded losses in four of the past five financial years. In FY2024, it posted a net loss of RM100.82 million on RM1.12 billion in revenue. The only profitable year during that period was FY2021, when it booked an after-tax profit of RM887.37 million on RM2.13 billion in revenue — a figure likely supported by a RM440.5 million gain from a subsidiary disposal and a RM193.1 million gain from a secured debt settlement. As of end-December 2024, Amsteel’s total assets stood at RM1.2 billion, with total liabilities of RM1.07 billion. Of this, nearly RM700 million were current liabilities due within 12 months. The company’s share premium and reserves were negative RM550.92 million. Lion Industries itself has also been struggling. For the six months ended June 2025, it reported a net loss of RM83.4 million on RM657.28 million in revenue, compared with a net loss of RM71.51 million on RM838.51 million a year earlier. As at end-June 2025, the group had RM102.9 million in cash, short-term loans of RM112.1 million, and long-term borrowings of RM22.42 million, with accumulated losses of RM360.17 million. In its latest financial statement, the company noted that the operating environment for Malaysia’s steel industry remains challenging, citing persistent overcapacity, stiff competition, and rising operational costs that continue to pressure margins. It added that it would focus on efficiency improvements and cost containment to mitigate the situation. In recent years, both Lion Industries and Amsteel have been divesting assets. They are currently in the process of selling two parcels of freehold land measuring 19.78 acres and seven acres to Unichamp Mineral Sdn Bhd for RM67.96 million and RM24.07 million, respectively — a related-party transaction. Lion Industries is 34.59%-owned by Tan Sri William Cheng Heng Jem, who also controls Parkson Holdings Bhd and other ventures in the steel and retail sectors. Shares of Lion Industries ended last Friday unchanged at 19.5 sen, valuing the company at RM132.8 million. Industry observers say intense competition from Alliance Steel (M) Sdn Bhd, a subsidiary of China’s Guangxi Kunyi Investment Co Ltd, has weighed heavily on local steelmakers. Alliance Steel operates a US$1.4 billion plant spanning 710 acres in the Malaysia-China Kuantan Industrial Park. In late 2023, four major long steel producers — Ann Joo Resources Bhd, Malaysia Steel Works (KL) Bhd, Southern Steel Bhd (KL:SSTEEL) and Lion Industries — appealed for government assistance, alleging that Alliance Steel had breached its manufacturing licence terms and was dumping certain steel products into the Malaysian market. Alliance Steel’s manufacturing licence requires it to export at least 50% of its production, except for products not produced locally, such as H-beams.