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Energy & Technology

MDEC Revokes Malaysia Digital Status Of Network School Operator

The Malaysia Digital Economy Corporation (MDEC) has taken immediate action to revoke the Malaysia Digital status granted to NSO Malaysia Sdn Bhd, the operator of Network School in Forest City, Iskandar Puteri, Johor. In a statement, MDEC said the decision follows the Iskandar Puteri City Council’s (MBIP) move to revoke NSO’s business licence, which resulted in the company no longer meeting the requirements attached to its Malaysia Digital status. MDEC explained that companies awarded Malaysia Digital status are required to obtain and maintain all relevant permits and licences necessary to conduct their approved business activities, while also ensuring compliance with applicable laws, regulations and licensing requirements. “The revocation of NSO’s business licence constitutes a breach of this requirement. Accordingly, MDEC is taking immediate action to revoke NSO’s Malaysia Digital status,” the agency said. MDEC added that while it remains committed to attracting quality digital investments into Malaysia, compliance with the country’s regulatory framework and legal requirements remains a key priority and cannot be compromised. Earlier, MBIP issued a notice requiring NSO to cease business operations effective July 22, 2026, citing non-compliance with licensing conditions and issues involving the use of premises under the local authority’s jurisdiction. The development comes amid discussions and allegations circulating on social media claiming that Network School was linked to an Israeli agenda to establish a presence in Malaysia through cryptocurrency-related investment activities. Authorities have not confirmed these allegations.

Property

Geohan Secures RM41 Million KLCC Development Contract

Geohan Corp Bhd has strengthened its project pipeline after securing a contract worth RM40.9 million from China State Construction Engineering (M) Sdn Bhd to undertake construction works for a mixed development project in Kuala Lumpur. In a statement, the foundation and geotechnical specialist said the contract covers key construction activities for a prestigious development located along Persiaran KLCC, Kuala Lumpur. The project comprises two 65-storey serviced apartment towers with a combined total of 850 residential units. Under the awarded contract, Geohan’s scope of works includes bored piling works, reinforced concrete works and basement wall construction, which form critical components of the development’s foundation and structural requirements. The company said the construction works are expected to be completed by early June 2027, contributing to the group’s ongoing efforts to maintain a healthy project pipeline and reinforce its position within the construction and infrastructure sector. Geohan added that the latest contract win comes shortly after the group secured another major project, namely the RM28 million Xintiandi development project located in Genting Permai, where construction activities commenced in May 2026. The two recent project awards have helped sustain Geohan’s order book at approximately RM420 million, supported by a diversified portfolio comprising residential developments, mixed-use projects and infrastructure-related works across Peninsular Malaysia. The group said these project wins reflect continued confidence from industry players in Geohan’s technical capabilities and execution expertise, particularly in foundation engineering and complex construction works.

Lifestyle

Johan Holdings Makes RM3 Million Corporate Move

Johan Holdings Bhd is set to strengthen its presence in the hospitality and resort segment after proposing to acquire an additional 1,000,000 ordinary shares in Lumut Park Resort Sdn Bhd from Syarikat Majuperak Bhd for a total cash consideration of RM3.25 million. The proposed acquisition, which involves the purchase of the remaining stake held by Syarikat Majuperak, will result in Lumut Park Resort becoming a wholly owned indirect subsidiary of Johan Holdings upon completion of the transaction. In a filing with Bursa Malaysia, Johan said the acquisition was undertaken through its wholly owned subsidiary, Diners Club (Malaysia) Sdn Bhd, which entered into an agreement via an exchange of letters with Syarikat Majuperak on July 20, 2026. Following the completion of the proposed acquisition, which is targeted to be completed by the end of August 2026, Johan Holdings will increase its shareholding in Lumut Park Resort to 5,000,000 ordinary shares, representing a 100% equity interest in the company. The move will see Johan consolidate full ownership and control of Lumut Park Resort, compared with its existing 80% stake prior to the transaction. Johan Holdings said the purchase consideration of RM3.25 million was arrived at on a willing buyer-willing seller basis, after taking into account the commercial terms agreed between both parties. The group expects the acquisition to provide greater flexibility in managing Lumut Park Resort’s operations and enable Johan to further align the resort business with its broader strategic objectives.

Investment & Market Trends

WEC To Sell 10% Stake In BLSB For RM6mil

Wong Engineering Corp Bhd (WEC) is disposing of a 10% equity interest in its associate company, Broadway Lifestyle Sdn Bhd (BLSB), for a total cash consideration of RM6.27 million as part of its ongoing efforts to unlock value from its investment portfolio and strengthen focus on its core precision engineering operations. In a filing with Bursa Malaysia, WEC announced that it had entered into a share sale agreement with Econ Property Management Sdn Bhd on July 21 for the disposal of 250,000 ordinary shares and 5.15 million redeemable non-cumulative preference shares in BLSB. Following the completion of the transaction, WEC’s equity interest in BLSB will be reduced from 35% to 25%, while BLSB will continue to remain an associate company of the group. WEC said the disposal consideration was determined on a willing buyer-willing seller basis, taking into consideration several factors, including the group’s original investment cost as well as BLSB’s estimated net assets and liabilities. Under the terms of the agreement, Econ Property Management will make an initial payment of RM5 million upon execution of the share sale agreement, with the remaining balance of RM1.27 million to be settled within three months from the date of the agreement. The precision engineering group said the divestment aligns with its strategy to optimise its investment holdings, enhance capital efficiency and provide additional financial flexibility to support its ongoing business operations and future growth initiatives.

Property

Adnex Group Secures RM11mil Contract

Adnex Group Bhd has secured a RM10.96 million subcontract for an interior design fit-out project at Sunway Square Corporate Tower 1, further strengthening its presence in Malaysia’s commercial interior construction sector. In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Adnex Interior Solution Sdn Bhd (AIS), has entered into a subcontract agreement with JLL Project and Construction Management Sdn Bhd, the project’s general contractor, to undertake the interior fit-out works for Hilti Asia IT Services Sdn Bhd. The subcontract covers the execution of interior design and fit-out works in accordance with the project specifications and requirements set out by JLL. AIS, which specialises in commercial interior fit-out solutions, will be responsible for delivering the project to the required quality and completion standards. The project officially commenced yesterday and is scheduled for completion on Dec 24, 2026, with a construction period of approximately five months. Upon practical completion, the project will be subject to a 12-month defects liability period, during which AIS will be responsible for rectifying any defects identified in accordance with the terms of the subcontract agreement. Adnex said the contract reflects the group’s continued ability to secure quality projects within the commercial property sector and highlights AIS’s expertise in delivering interior fit-out solutions for corporate office developments. The company expects the project to contribute positively to the group’s earnings over the duration of the contract.

Investment & Market Trends

MPOC Expects CPO Prices At RM4,400-RM4,650 Per Tonne In August

Crude palm oil (CPO) prices are expected to trade between RM4,400 and RM4,650 per tonne in August, supported by Indonesia’s implementation of its B50 biodiesel programme, stronger energy prices, and improved biodiesel economics, according to the Malaysian Palm Oil Council (MPOC). In a statement, MPOC said rising geopolitical tensions between the United States and Iran pushed gasoil prices up by around 30% between early and mid-July, making fossil fuel more expensive than both palm oil and soybean oil. This has improved the competitiveness of palm oil as a biodiesel feedstock. However, the council noted that further gains in CPO prices may be capped by softer global demand and elevated vegetable oil inventories in key importing markets. Malaysia’s palm oil supply remains favourable, with data from the Malaysian Palm Oil Board (MPOB) showing that production increased 8% month-on-month to 1.63 million tonnes in June 2026 as the seasonal production cycle gathered pace. Despite the monthly increase, output was still 3% lower year-on-year, marking the fourth consecutive month of annual decline. Palm oil exports also rose 6.1% from the previous month to 1.20 million tonnes in June, although export volumes remained 4% below the same period last year. MPOC attributed the weaker annual performance to softer demand from major markets such as China and India, amid lingering economic uncertainty and the impact of geopolitical tensions in West Asia. Meanwhile, Malaysia’s palm oil inventories climbed to 2.5 million tonnes in June, reflecting stable supply conditions. Looking ahead, MPOC expects global oilseed production to continue expanding, although growth is projected to slow during the 2026-2027 season. Combined output of soybeans, sunflower seeds and rapeseed is forecast to increase by 16.5 million tonnes, below the average annual increase recorded over the past four years. The council said slower growth in oilseed production, coupled with rising demand for vegetable oils from the biofuel sector, is expected to provide longer-term support for vegetable oil prices. While near-term demand remains moderate, MPOC expects seasonal restocking ahead of Deepavali to provide some support, particularly in India, which typically imports around 30% of its annual vegetable oil requirements between July and September. With palm oil remaining the most competitively priced major vegetable oil, MPOC believes it is well positioned to benefit from the seasonal increase in demand in the coming months.

Investment & Market Trends

China’s Zhongji Innolight Targets US$7bil Hong Kong Listing

Chinese optical components manufacturer Zhongji Innolight is aiming to raise up to HK$55.05 billion (US$7 billion) through a listing in Hong Kong, potentially making it Asia’s second-largest initial public offering (IPO) of 2026. According to a filing with the Hong Kong Stock Exchange, the Shenzhen-listed company plans to offer 54.5 million shares at a maximum price of HK$1,010 per share. If a 15% over-allotment option is fully exercised, the total fundraising could increase to approximately HK$63.3 billion (US$8.1 billion). The IPO is expected to become Hong Kong’s largest share sale since Alibaba’s US$12.9 billion listing in 2019, and the second-biggest in Asia this year after Chinese memory chipmaker CXMT Corp’s US$8.6 billion Shanghai STAR Market listing. Zhongji Innolight has secured support from 33 cornerstone investors, who have committed around US$3.45 billion, representing nearly half of the base offering. The investor lineup includes Temasek, BlackRock, JPMorgan Asset Management, Abu Dhabi Investment Authority, Wellington Management, Bain Capital, Alibaba, Tencent, CPP Investments, Oaktree, General Atlantic, and several other global investment firms. The company manufactures optical transceivers, critical components that enable high-speed data transmission through fibre-optic networks. These products are widely used in data centres, cloud computing infrastructure, and artificial intelligence (AI) systems, positioning Zhongji to benefit from growing global demand for AI-related technologies. The planned listing comes as Chinese technology companies accelerate investments in AI infrastructure to meet rising demand for advanced computing power and data centre capacity. Zhongji reported strong financial growth, with 2025 revenue rising 60.3% year-on-year to 38.24 billion yuan (US$5.7 billion), while net profit more than doubled to 11.58 billion yuan. In the first quarter of 2026, revenue nearly tripled to 19.5 billion yuan, reflecting continued momentum in its business. The company said proceeds from the IPO will be used to fund research and development, expand global production capacity, strengthen its supply chain, and support future growth initiatives. The final offer price is expected to be announced on July 29, with trading on the Hong Kong Stock Exchange scheduled to begin the following day. The listing is jointly sponsored by Goldman Sachs, CICC, Morgan Stanley, and GF Securities.

The Executives

JPMorgan Appoints Goh And Halim As Southeast Asia Investment Banking Co-Heads

JPMorgan has appointed Kelvin Goh and Alfons Halim as its new Co-Heads of Southeast Asia Investment Banking, strengthening the firm’s leadership team across one of the region’s fastest-growing markets. According to The Business Times, the appointments take effect immediately, with both executives continuing to be based in Singapore while assuming broader responsibilities for overseeing the bank’s investment banking operations across Southeast Asia. Kelvin Goh, Head of Financial Institutions Group, Asia Pacific, and Alfons Halim, Head of Asia Pacific Real Estate at JPMorgan, have been appointed as Co-Heads of Southeast Asia Investment Banking while retaining their current roles. Goh currently serves as Head of the Financial Institutions Group for Asia Pacific, where he has played a key role in advising financial institutions on strategic transactions, capital raising and mergers and acquisitions across the region. Halim, meanwhile, is Head of Asia Pacific Real Estate within JPMorgan’s corporate division and has extensive experience in advising clients on real estate, infrastructure and corporate finance transactions. Despite their expanded regional responsibilities, both executives will retain their current leadership roles while jointly driving the strategic direction and growth of JPMorgan’s Southeast Asia investment banking franchise. The appointments underscore JPMorgan’s continued commitment to strengthening its presence in Southeast Asia, a region that continues to present significant opportunities for mergers and acquisitions, capital markets activity and corporate advisory services. By basing both co-heads in Singapore, the bank further reinforces the city-state’s position as a key regional financial hub and an important centre for cross-border corporate finance and investment banking activities. The move is also expected to enhance JPMorgan’s ability to better serve clients across Southeast Asia by leveraging the combined expertise of both leaders in executing complex financial transactions and supporting the region’s evolving business landscape.

ESG

Manufacturing Beyond Cost And Speed

For decades, Malaysian manufacturers have built their competitiveness on quality, pricing and reliable delivery. Today, however, global buyers are asking a new question: What is the carbon footprint of this product? Sustainability is no longer an optional consideration—it has become a key factor in determining business competitiveness. Environmental performance now stands alongside cost, quality and efficiency as a critical measure of success in the global manufacturing industry. As manufacturing remains one of Malaysia’s largest contributors to economic growth and exports, businesses are under increasing pressure to adapt to a rapidly evolving sustainability landscape. Internationally, environmental regulations are becoming more stringent. The European Union’s Carbon Border Adjustment Mechanism (CBAM), for example, places a carbon price on selected imported goods, signalling a broader shift towards carbon accountability in global trade. Manufacturers that are unable to measure or reduce their emissions may face higher export costs and risk losing market access. At the same time, multinational companies in sectors such as electronics and automotive are placing greater emphasis on emissions across their entire supply chains. Closer to home, Malaysia is also accelerating its sustainability agenda. The Ministry of Investment, Trade and Industry’s (MITI) National Industry Environmental, Social and Governance (i-ESG) Framework provides businesses with guidance on strengthening ESG practices, while the New Industrial Master Plan 2030 promotes greener, more technology-driven manufacturing. Bursa Malaysia has also enhanced its sustainability reporting requirements, placing greater focus on environmental performance and climate-related disclosures. Together, these developments are transforming sustainability from a compliance obligation into a strategic business advantage. However, the transition presents different challenges across the manufacturing sector. Large corporations often have the financial capacity to invest in cleaner technologies and advanced reporting systems, while many small and medium enterprises (SMEs) face resource constraints. Representing more than 97% of Malaysia’s registered businesses, SMEs play a vital role in manufacturing supply chains. Yet many continue to face barriers such as limited financing, insufficient technical expertise and the high upfront costs associated with energy-efficient equipment, digital technologies and carbon reporting systems. Although these investments can reduce operating costs over time, many businesses remain focused on short-term financial pressures amid rising operating expenses and economic uncertainty. The challenge extends beyond individual companies. Modern supply chains are only as sustainable as their weakest link. As products move through multiple suppliers before reaching international markets, buyers increasingly expect credible environmental data throughout the value chain. Without practical tools to measure emissions, many companies may struggle to meet growing sustainability expectations. This also increases the risk of greenwashing, where environmental claims are made without sufficient evidence or measurable progress. Despite these challenges, encouraging progress is emerging across the industry. Research within Malaysia’s automotive sector shows that stronger collaboration between manufacturers and suppliers can significantly improve environmental performance. Rather than simply imposing sustainability requirements, leading companies are investing in supplier training, technical support and capability development to strengthen ESG practices throughout the supply chain. This collaborative approach delivers multiple business benefits. Improved energy efficiency lowers operating costs, waste reduction increases productivity, and better resource management enhances resilience against future supply disruptions and rising costs. Many leading Malaysian companies are also working to reduce Scope 3 emissions—those generated across their broader value chains. Through more efficient logistics, transportation optimisation and closer supplier partnerships, businesses are lowering indirect emissions while encouraging sustainable practices throughout their networks. Supporting suppliers instead of replacing them enables smaller businesses to remain competitive within global supply chains while strengthening Malaysia’s overall manufacturing ecosystem. The benefits extend well beyond operational performance. Financial institutions and investors increasingly consider ESG performance as a measure of long-term business resilience. Sustainable finance frameworks now assess environmental performance alongside financial results when evaluating investment opportunities and lending decisions. Manufacturers without clear sustainability strategies may face greater challenges in securing financing, while businesses that invest early can strengthen investor confidence and improve their resilience against future regulatory and market changes. Communities also stand to benefit from greener manufacturing practices. Cleaner production methods help reduce emissions, minimise waste and improve environmental quality for surrounding communities. At the same time, the transition towards sustainable manufacturing is creating demand for new skills in carbon accounting, renewable energy, sustainability reporting and green engineering, opening opportunities for higher-value employment while strengthening Malaysia’s long-term competitiveness. Achieving meaningful progress will require close collaboration between government, industry associations and businesses. Government agencies can accelerate adoption by simplifying access to initiatives such as the Green Technology Financing Scheme while providing SMEs with practical carbon accounting tools and technical assistance. Large corporations and government-linked companies also have an important role to play by mentoring suppliers, facilitating financing opportunities and building long-term partnerships that enable SMEs to adopt sustainable practices with greater confidence. Industry organisations such as the Federation of Malaysian Manufacturers can further support businesses through shared sustainability initiatives, including joint investments in renewable energy, waste management and ESG training programmes that reduce costs across the sector. Ultimately, Malaysia’s manufacturing future will no longer be defined solely by producing goods faster or at lower cost. Success will increasingly depend on producing responsibly, efficiently and sustainably. While the transition presents challenges, particularly for SMEs, global expectations continue to evolve. Manufacturers that embrace sustainability as a driver of innovation, resilience and long-term value will be best positioned to compete in the next era of manufacturing.

ESG

Impact Capital Supports Digital Learning At St Joseph’s Private School

The way students learn is evolving as digital technology becomes an essential part of modern education. Beyond traditional textbooks and classroom tools, interactive technologies are helping teachers create more engaging and collaborative learning experiences. The sponsorship is part Impact Capital’s environmental, social and governance (ESG) commitment to creating shared value through responsible corporate citizenship. Supporting this shift, Impact Capital Holdings Berhad, through its wholly owned subsidiary Impact Business Solutions Sdn Bhd (IBS), has sponsored five Huawei IdeaHub K3 smart interactive displays to St Joseph’s Private School in Kuching, Sarawak. The sponsorship was presented during the official opening of the school’s new extension block on 15 July, officiated by Deputy Premier of Sarawak, The Right Honourable Datuk Patinggi Datuk Amar Professor Dr Sim Kui Hian. The Huawei IdeaHub K3 is an all-in-one smart collaboration display that combines interactive touchscreen technology with real-time content sharing and digital collaboration features. The solution enables educators to integrate digital teaching methods while providing students with a more interactive and connected classroom environment. According to Kok Teck Kuan, Executive Director of Impact Capital Holdings Berhad, investing in education is one of the most meaningful ways to prepare future generations for an increasingly digital world. “Education has always been one of the most meaningful investments we can make for the future. At Impact Capital, we believe technology should serve a greater purpose by empowering communities and creating opportunities for future generations.” He added that the company is proud to support St Joseph’s Private School through IBS by contributing the Huawei IdeaHub K3 units to enhance classroom engagement and encourage collaborative, technology-enabled learning. The initiative also reflects Impact Capital’s commitment to its Environmental, Social and Governance (ESG) agenda by creating positive social impact through responsible corporate citizenship. “As a home-grown Malaysian technology company, we are committed to leveraging our expertise to support initiatives that deliver lasting value. While this is a one-off sponsorship for St Joseph’s Private School, we remain open to future opportunities where our technology solutions can contribute to education and community development,” Kok said. Through its expertise in ICT infrastructure, systems integration and digital solutions, Impact Capital continues to support Malaysia’s digital transformation across the telecommunications, enterprise and critical infrastructure sectors. The sponsorship demonstrates how technology companies can extend their impact beyond business by helping schools embrace digital innovation and equipping students with the skills needed for a more connected future. For more information, visit www.impact.com.my.

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