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KUALA LUMPUR, Malayan United Industries Bhd, or MUI, has obtained a US$20 million (RM84.3 million) term loan from Singapore-based direct lending fund Indies Special Opportunities LV Ltd to support its financing needs. According to MUI’s filing, the loan will be used to partially fund capital expenditure for its wholly owned subsidiary Plaza on Hyde Park Ltd, as well as to cover general working capital requirements and refinance certain existing Malaysian bank facilities. The group said the new facility will help optimise capital allocation and ensure continued progress in the renovation and refurbishment of the Corus Hyde Park Hotel. It will also strengthen liquidity, providing greater financial flexibility and operational efficiency. Following the new borrowing, MUI expects additional finance costs of about US$2.6 million (RM11.1 million) for the financial year ending June 30, 2026 (FY2026), which would result in an extra loss per share of 0.34 sen. The group’s gearing ratio is projected to rise to 0.97 times in FY2026 from 0.87 times previously, while net assets per share are expected to remain unchanged at 25 sen. As of end-June 2025, MUI’s cash and cash equivalents stood at RM143.03 million, with total borrowings of RM905.72 million and lease liabilities of RM98.52 million. Indies Special Opportunities IV, managed by Indies Capital Partners Pte Ltd, focuses on private credit and private equity investments across Asia, serving clients including sovereign wealth funds, regional financial institutions, family offices, and high-net-worth investors. MUI’s shares closed half a sen lower at six sen, valuing the company at RM194 million.

KUALA LUMPUR, United Overseas Bank (Malaysia) Bhd (UOB Malaysia) chief executive officer Ng Wei Wei has been recognised as one of the most influential women in Asia, earning a spot on Fortune’s Most Powerful Women in Asia 2025 list. Ng ranked 95th among 100 leaders across the region who are driving transformation and shaping the future of their industries. According to Fortune, the women featured were selected based on their measurable impact, strategic influence, and ability to lead change. The 2025 list highlights founders, CEOs, and senior executives whose reach extends across borders and sectors. Over a third of those named are leaders from Global 500, China 500, and Southeast Asia 500 companies, spanning 14 markets including Southeast Asia, Greater China, India, Japan, South Korea, and Australia. Ng is one of four Malaysian women on the list, alongside Capital A Bhd group CEO Teh Mun Hui, Affin Bank Bhd group chief financial officer Joanne Rodrigues, and PwC Malaysia executive chair Nurul A’in Abdul Latif. Appointed as UOB Malaysia’s first female CEO in 2022, Ng rejoined the bank in 2019 after over a decade with HSBC. Under her leadership, UOB Malaysia recorded a 15.9% year-on-year growth in pretax profit for 2024, with the bank now focusing on the Johor economic zone along the Malaysia-Singapore border. Fortune said the selection process combined editorial judgment with data analysis, drawing from company filings, public disclosures, independent reporting, and both internal and external nominations. The evaluation considered company performance, leadership influence, innovation, and social impact — with rankings reflecting both current achievements and future potential.

KUALA LUMPUR, A group of Greenyield Bhd shareholders, led by Tham Chong Sing, has issued a fresh notice to convene an extraordinary general meeting (EGM) seeking the removal of the company’s non-executive chairman, Tham Foo Keong — his brother — amid a continuing family dispute for control of the group. The move comes after three independent directors — Saryani Che Ab Rahman, Supramaniam R Ramasamy, and Mohd Ghozali Yahaya — resigned on Oct 1, just days after the board rejected the shareholders’ earlier EGM request. The trio cited personal reasons for their departure. The shareholder group — comprising Chong Sing, Chew Kee Foo, Foong Sai Cheong, and DKIC Capital — collectively controls more than 10% of Greenyield’s shares. They are now renewing efforts to restructure the board, maintaining their earlier proposal to appoint the same slate of new directors. Notably, two current directors — Foo Choon and his son Kin Shun, who align with Chong Sing’s faction — are not being targeted for removal. The proposed new directors include: Voon Sze Lin Tham Kin Yiq Tham Kin Wai Chong Sin Hao Proposed independent directors: Syakur Mohd Suhaimi Kamarudin Md Derom Lee Kim Hong Founded in 1937 by the Tham family, Greenyield manufactures and markets agro-tech products. Foo Keong remains the largest shareholder with a 17.31% stake, followed by Chong Sing with 13.06%, Foo Choon with 12.99%, and Fau Sin with 10.89%. At Thursday’s close, Greenyield’s shares were unchanged at 19 sen, giving the company a market capitalisation of RM105.3 million. The stock has declined 19.15% year to date.

KUALA LUMPUR,  Johor-based bakery manufacturer HSS Holdings Bhd is planning to list on the ACE Market of Bursa Malaysia, aiming to raise funds to expand and upgrade its production facilities. According to its draft prospectus filed with Bursa Malaysia on Thursday (Oct 9), the group’s initial public offering (IPO) will comprise 75 million new shares — equivalent to 15% of its enlarged share capital — and an offer-for-sale of 52.5 million existing shares or 10.5%, bringing the total offering to 25.5% of the company’s shares. Of the new shares, 25 million will be allocated to the Malaysian public, 10 million to eligible directors, employees, and contributors, 10 million via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), and 30 million to selected investors. Following the IPO, major shareholder Essential Family Ventures Sdn Bhd — controlled by non-independent non-executive director See Toh Kean Yaw and Joseph Lee Moh Hon — will see its stake trimmed to 14.8% from 23.5%, while managing director Goh Chen Chang’s shareholding will decrease to 5.3% from 12.4%. Incorporated in April 2025 and converted into a public company in September, HSS Holdings manufactures and markets a variety of bakery goods — including cookies, biscuits, cakes, and snacks — under brands such as SINAR. Its products are either produced in-house, outsourced to third-party manufacturers, or sourced directly from brand owners. Financially, the group’s profit after tax rose 42.8% to RM7.8 million for the financial year ended Dec 31, 2024 (FY2024), compared to RM5.46 million the year before. Revenue increased 21.2% to RM160.22 million, from RM132.23 million in FY2023. HSS generates most of its sales from Malaysia and Singapore, while also exporting to Indonesia, Australia, and Cambodia.