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News

QEW Group Berhad Clarifies Position On Ongoing RPS-i Civil Proceedings

QEW Group Berhad (“QEW” or “the Company”) refers to the article published by Free Malaysia Today (FMT) concerning the ongoing civil proceedings involving the Company and certain of its directors in relation to the RPS-i investment. As reported, the Company is currently undertaking the implementation of its restructuring and Exit Plan as part of its continuing efforts to fulfil its commitments to investors. The Company wishes to emphasise that the matters presently before the Court arise within the context of a corporate restructuring and obligations resolution process. Such processes are not uncommon within the financial and investment industry, particularly where companies are undertaking structured measures to meet their obligations in an orderly and sustainable manner. When contacted, Fatin Nabihah, spokesperson for QEW Group Berhad’s Legal & Compliance Department, confirms that the implementation of the Company’s Exit Plan remains actively in progress. The Company remains steadfast in its commitment to achieving a fair, practical and commercially viable resolution that safeguards the interests of its investors and all relevant stakeholders. In its Defence filed before the Court, the Company has maintained that the RPS-i is a Shariah-compliant structured investment instrument governed by the terms and conditions of the RPS-i Agreement. The instrument is subject, among other things, to the Company’s business performance, financial position, and the corporate governance mechanisms agreed upon by the parties. The Company also wishes to assure investors that its Customer Relationship Management (CRM) function continues to operate fully and remains available to attend to investors’ enquiries, requests and ongoing communications. In addition, regular updates continue to be provided through the Company’s dedicated investor portal to ensure that official information is communicated in a transparent, timely and orderly manner. As the matter is presently the subject of ongoing civil proceedings before the Court, the Company is constrained from commenting further on issues that are sub judice. QEW respectfully urges all parties to allow the legal process to proceed without undue speculation or the dissemination of inaccurate or misleading information that may create unnecessary public confusion or prejudice the administration of justice. QEW Group Berhad remains committed to cooperating fully with the Court and all relevant authorities throughout the legal process. The Company will continue to provide material updates, where appropriate, through its official communication channels.

The Executives

UOB Vietnam Names Pham Hong Hai As Deputy Country CEO

United Overseas Bank (Vietnam) Limited (UOB Vietnam) has appointed Pham Hong Hai as its Deputy Country CEO, effective June 15, 2026. In his new role, Hai will report directly to UOB Vietnam Chief Executive Officer Victor Ngo and support the bank’s strategic growth plans, governance framework, and risk management initiatives. Hai brings more than three decades of experience in banking and financial services, having held senior leadership positions at both local and international financial institutions. Pham Hong Hai’s appoinment as Deputy Country CEO takes effect starting June 15, 2026. Photo courtesy of UOB Vietnam. Before joining UOB Vietnam, he served as Chief Executive Officer of Orient Commercial Joint Stock Bank (OCB), where he led business expansion and transformation efforts. Prior to OCB, Hai spent 28 years with HSBC, including serving as Chief Executive Officer of HSBC Vietnam and holding leadership roles within Global Banking and Markets in Vietnam and Canada. During his tenure, he contributed to business development, client relationship management, and talent cultivation across multiple markets. He holds a bachelor’s degree in Business Administration from Ho Chi Minh City University of Economics and a diploma in Financial Services Management from the Institute of Financial Services in the United Kingdom. Victor Ngo said the appointment underscores UOB Vietnam’s commitment to strengthening its leadership bench as it continues to expand its footprint in the country. “Vietnam remains a key market in UOB’s ASEAN strategy and continues to present significant growth opportunities. With his extensive experience and deep industry expertise, Hai will play an important role in advancing our strategic priorities, supporting clients’ growth and contributing to Vietnam’s continued development and regional connectivity,” Ngo said. UOB Vietnam became a wholly owned subsidiary of UOB on July 2, 2018, although the group’s presence in Vietnam dates back to 1993 with the opening of a representative office in Ho Chi Minh City. In 1995, it became the first Singaporean bank to establish a branch in the country. Today, UOB Vietnam offers retail, corporate, and institutional banking services through five branches in Ho Chi Minh City and Hanoi, following the acquisition of Citibank Vietnam’s consumer banking business in 2023. UOB Group operates around 430 branches and offices across 19 markets in Asia-Pacific, Europe, and North America, while also supporting initiatives in sustainable development, education, children’s welfare, and the arts through its corporate responsibility programmes.

The Executives

Kristina Rai Appointed Director Of Bank Negara Malaysia’s FENNCO

After more than four years as Chief Operating Officer (COO) of the Asia School of Business (ASB), Kristina Rai is returning to Bank Negara Malaysia to head the Financial Education Network National Coordination Office (FENNCO), where she will spearhead the implementation of the National Strategy for Financial Literacy 2026–2030 (NS2.0). Bank Negara Malaysia (FENNCO) Director, Kristina Rai. Her appointment marks a significant step in advancing Malaysia’s financial literacy agenda, aimed at strengthening financial resilience and inclusion among Malaysians. Kristina brings with her an accomplished career spanning three decades at Bank Negara Malaysia, having held leadership roles across Human Resource Development and Talent Management, Strategy Management and Corporate Planning, as well as International Relations Policy. She also played an instrumental role as a financial services negotiator in Malaysia’s Free Trade Agreement (FTA) discussions. Beyond her contributions within the central bank, Kristina has also served on the Board of Advisors of regional think tank IMAN Research, reflecting her commitment to policy development and thought leadership. During her tenure at ASB, Kristina was widely recognised for driving operational transformation and supporting key institutional milestones that strengthened the school’s position as a leading business education institution in the region. At FENNCO, she is expected to champion a collaborative, whole-of-nation approach by working closely with government agencies, industry players, educational institutions and community organisations to enhance financial literacy and empower Malaysians to make informed financial decisions. The National Strategy for Financial Literacy 2026–2030 seeks to build a financially capable society that is better equipped to navigate economic challenges, manage personal finances responsibly and participate meaningfully in the country’s growing digital economy. Kristina’s extensive experience in policymaking, talent development and strategic planning positions her well to lead FENNCO in delivering impactful initiatives that support Malaysia’s long-term financial well-being goals.

Lifestyle

AEON Kicks Off Mega Sale 2026 With Exclusive Deals, Rewards And Exciting Activities Nationwide

AEON CO. (M) BHD. (AEON) is proud to announce the launch of the AEON MALL Mega Sale 2026, taking place from 15 June to 31 July 2026. This nationwide shopping celebration is designed to deliver exceptional value, exciting rewards, and memorable experiences for shoppers across participating AEON Malls nationwide. Shoppers enjoy attractive promotions, exclusive discounts, and reward redemptions. Building on its longstanding strategic partnership with Tourism Malaysia, the campaign supports national tourism and retail initiatives aimed at stimulating consumer spending, supporting local businesses, and reinforcing Malaysia’s position as a premier shopping destination. Throughout the campaign period, shoppers can enjoy attractive promotions, exclusive discounts, reward redemptions, and engaging mall activities. Participating retailers from the fashion, beauty, lifestyle, home living, food & beverage, and entertainment categories will offer special promotions and limited-time deals to enhance the overall shopping experience. As part of the Mega Sale 2026 campaign, customers can enjoy discounts of up to 70% at selected tenant outlets and AEON Retail Department Stores. In addition, shoppers can look forward to exciting Happy Hour Deals during weekends at all AEON Malls nationwide. The campaign aims to provide greater value for shoppers while strengthening customer engagement and community growth. SAVE THE DATE FOR MIDNIGHT SALE One of the key highlights of the Mega Sale 2026 campaign is the return of the highly anticipated AEON MALL Midnight Sale. Customers gather at the Centre Court ahead of the balloon drop event. Designed to create a vibrant, festival-like shopping atmosphere, the Midnight Sale extends shopping hours into the late evening, offering shoppers exclusive deals, exciting entertainment, and rewarding experiences. Over the years, AEON MALL’s Midnight Sale has become a signature retail event, featuring: Discounts of up to 70% OFF Exclusive midnight-only promotions Balloon drop activities and lucky draws Premium gift redemption programmes Live entertainment and fitness activities Special privileges for tourists at selected malls Extended mall operating hours Travel package promotions by participating travel agents Strategic collaboration with Tourism Malaysia to attract both local and international visitors Midnight Sale Schedule 27 June 2026 AEON Mall Alpha Angle, Wangsa Maju AEON Mall Taiping, Perak AEON Mall Bukit Indah, Johor Bahru 25 July 2026 AEON Mall Metro Prima, Kepong AEON Mall Kulaijaya, Johor Bahru AEON Mall Taman Equine, Seri Kembangan CLEARANCE SALE IS BACK Following the successful clearance campaign held at AEON Mall Taman Equine, AEON Mall is excited to bring back another round of the highly anticipated Clearance Sale. The AEON Mall Mega Sale offers greater value and exciting rewards for shoppers. The previous campaign featured a wide range of electrical appliances and home fashion products, occupying approximately 10,000 square feet of promotional space along the mall concourse. Shoppers enjoyed exceptional deals from renowned electrical brands including Elba, Philips, Hanabishi, Khind, Tefal, Midea, and many more. The home fashion segment also featured popular bedding brands such as Jean Perry, Ann Taylor, and Red Daniel. Building on this success, AEON Mall will be organising the next phase of the Clearance Sale at: AEON Mall Taiping 22 June – 5 July 2026 AEON Mall Kulaijaya 20 July – 2 August 2026 Visitors can expect attractive discounts and value-for-money offers across a variety of product categories. EXPERIENCE MORE THIS MEGA SALE SEASON This Mega Sale season is more than just shopping. It is about creating memorable experiences, enjoying exclusive rewards, and spending quality time with family and friends. From unbeatable deals and exciting entertainment to rewarding shopping experiences, AEON Mall invites shoppers to join us in celebrating one of Malaysia’s biggest shopping events of the year. Create joyful moments, discover extraordinary savings, and make lasting memories with your loved ones at AEON MALL Mega Sale 2026.

News

ASB Expands Global Pathways With Cornell SC Johnson College Of Business

Professor Joseph Cherian, CEO, President & Dean of the Asia School of Business (ASB), and Professor Andrew Karolyi, Charles Field Knight Dean of Cornell SC Johnson College of Business, together inked a new extended pathway for ASB graduates. Leaders’ handshake seals pathway from ASB to Cornell. This collaboration enables eligible ASB MBA, Executive MBA and Master in Central Banking students, as well as alumni, to pursue the Master’s in Business Analytics (MSBA) in New York — deepening their analytical capabilities with global exposure. For ASB graduates, this pathway opens the door to further studies at Cornell, creating a more accessible route to one of the world’s top business schools. By extending their academic journey beyond ASB, graduates can gain global exposure, deepen their expertise, and broaden their international networks. From ASB to Cornell. From the heart of Southeast Asia to New York. More pathways. More connections. More possibilities. For info on the diverse post-MBA pathways offered by ASB, visit https://asb.edu.my/academic-program/mba-program/ A handshake between great leadership programmes. A pathway for the future. Signing ceremony at the sidelines of the AACSB International Conference and Annual Meeting 2026. #AsiaSchoolofBusiness #GlobalInquiryLocalHeart

Property

Kerjaya Prospek Wins RM529mil Bukit Tunku Project From BRDB

Kerjaya Prospek Group Bhd has secured a RM529.32 million contract from BRDB Developments Sdn Bhd to build a luxury residential project in Bukit Tunku, Kuala Lumpur. The contract, awarded to its wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd, involves the construction of eight villa residence blocks comprising 146 units, two car park blocks, two basement levels, a clubhouse and other common facilities at Jalan Gallagher, Taman Duta. Construction commenced on June 16, 2026, and is expected to be completed within 33 months. Kerjaya said the project will provide an additional revenue stream over the next three years and strengthen its order book. The contract is also expected to contribute positively to earnings from FY2026 to FY2029. Chief executive officer Tee Eng Tiong said the award reflects the group’s strong track record in delivering premium residential developments and the continued confidence placed in its execution capabilities. Including this latest contract, Kerjaya’s year-to-date job wins have reached approximately RM1.6 billion, while its outstanding order book stands at RM4.5 billion.

Investment & Market Trends

Indian Firms Invest Over US$3bil In Malaysia, Create 30,000 Jobs

Indian companies have invested more than US$3 billion (RM12.18 billion) in Malaysia, creating over 30,000 direct jobs and strengthening economic ties between the two countries, according to the Consortium of Indian Industries in Malaysia (CIIM). CIIM chairman Datuk Umang Sharma said the investments have made a significant contribution to Malaysia’s economic growth and highlighted the increasing presence of Indian businesses in the country. He also credited outgoing Indian High Commissioner to Malaysia BN Reddy for supporting the Indian business community and helping deepen bilateral trade and investment relations during his tenure. Speaking at a farewell dinner hosted by CIIM in honour of Reddy and his wife Lalita Devi, Sharma described the envoy as a trusted adviser and strong advocate for closer Malaysia-India economic cooperation. Reddy, who previously served as deputy high commissioner from 2008 to 2011, played a role in advancing the Malaysia-India Comprehensive Economic Cooperation Agreement (MICECA) and helped elevate bilateral ties to a Comprehensive Strategic Partnership. The event was attended by more than 150 guests, including government officials, diplomats, business leaders, media representatives and CIIM members.

The Executives

BitGo Names Angela Ang As APAC And Singapore Head

BitGo has appointed Angela Ang as managing director for Asia-Pacific and president of BitGo Singapore, strengthening its leadership team in the region. Ang brings more than a decade of experience from the Monetary Authority of Singapore (MAS), where she played a key role in developing the country’s payments and cryptocurrency licensing framework. She later joined blockchain analytics firm TRM Labs as head of APAC public policy and strategic partnerships. Angela Ang, the Managing Director of BitGo APAC. BitGo said Ang assumed the role after fulfilling all regulatory and fit-and-proper requirements. At MAS, she led the implementation of the licensing regime under which BitGo Singapore now operates as a Major Payment Institution. In her new position, Ang will oversee BitGo’s business growth, market development and operations across Asia-Pacific. BitGo chief operating officer Jody Mettler said her appointment reinforces the company’s presence in one of the world’s most significant digital asset markets. The appointment comes as BitGo expands its global footprint following its public listing on the New York Stock Exchange under the ticker symbol BTGO. The company offers digital asset custody, trading, lending, settlement and stablecoin infrastructure services to institutional clients worldwide. Ang said the Asia-Pacific region is entering an important phase of institutional digital asset adoption and market development, presenting significant opportunities for growth.

The Executives

AKPK Names Azman Hasim As New CEO

Agensi Kaunseling dan Pengurusan Kredit (AKPK) has appointed Azman Hasim as its chief executive officer, effective June 18. Azman brings more than 30 years of experience in the financial services industry and has served AKPK for nearly two decades. He has been acting CEO since Jan 1, 2026, following the retirement of former CEO Azaddin Ngah Tasir. He holds a degree in Accounting and Finance from the University of Wales, Aberystwyth, and is a Fellow of the Association of Chartered Certified Accountants (ACCA), a member of the Malaysian Institute of Accountants, and a registered Shariah financial planner. As CEO, Azman will lead AKPK’s long-term strategy, focusing on enhancing financial literacy, expanding advisory and debt management services, and increasing outreach to underserved communities. AKPK chairman Fauziah Hisham said Azman’s extensive experience, strategic vision and deep understanding of the agency’s mission position him well to lead AKPK into its next phase of growth and impact.

Energy & Technology

SunCon Wins RM664mil In New Orders, Johor Data Centre Jobs Reach RM865mil

Sunway Construction Group Bhd (SunCon) has secured RM664.4 million in additional change orders for two data centre projects in Johor, lifting the total contract value to RM865.6 million. In a Bursa Malaysia filing, SunCon said its wholly owned subsidiary, Sunway Construction Sdn Bhd (SCSB), accepted the change orders on June 17 from a US-based multinational technology company for project service requests initially awarded on April 21. Construction works began on April 21, 2026, with one project slated for completion in the fourth quarter of 2027 and the other in the second quarter of 2028. SunCon noted that the projects are exposed to typical construction risks, including fluctuations in material prices, but said these are expected to be managed through SCSB’s expertise and experience. The contracts are anticipated to contribute positively to the group’s earnings from 2026 onwards. Including the latest orders, SunCon has secured RM4.2 billion worth of new jobs year-to-date, bringing its outstanding order book to RM8.8 billion. For the first quarter ended March 31, 2026, SunCon posted a 56.4% increase in net profit to RM118.41 million from RM75.72 million a year earlier, supported by stronger contributions across its business segments. However, quarterly revenue declined 27% to RM1.02 billion from RM1.4 billion, mainly due to lower construction contributions following accelerated progress on the Rapid Transit System Link project and several data centre projects in the previous year. SunCon shares last traded at RM7.43, valuing the company at RM9.89 billion.

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