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Johor has successfully attracted potential investments worth more than RM5 billion following a series of meetings with investors during a three-day working visit to Singapore that concluded today. Menteri Besar Datuk Onn Hafiz Ghazi said the achievement reinforces confidence in Johor as an investment destination and emerging growth hub in the region. He said the potential investments span several strategic and high-tech sectors, including high-speed optical technology, healthcare and semiconductor manufacturing equipment, bringing not only capital but also technology, expertise and new employment opportunities to the state. “Among the factors attracting investor interest is the availability of talent and a highly skilled workforce. Therefore, it is not just infrastructure and facilities that matter, but also the confidence that we have a workforce capable of meeting the needs of their respective industries,” he said in a Facebook post today. Onn Hafiz said talent development through the Johor Talent Development Council (JTDC) therefore remains a top priority. “We want training and skills development to be aligned with actual industry needs so that when investments arrive, the people of Johor are ready to fill the jobs created. At the same time, the Invest Malaysia Facilitation Centre Johor (IMFC-J) will continue to facilitate and expedite investment-related processes,” he said. He expressed hope that the potential investments would materialise, creating more quality jobs and broader economic opportunities for Johor residents. “Insya-Allah, we will continue to ensure that every investment coming into Johor brings benefits to the state and Bangsa Johor,” he said.

Online fast-fashion retailer Shein’s valuation has fallen by around 70% from a near $100 billion private market peak four years ago, as it seeks to raise up to HK$13.86 billion ($1.77 billion) in its Hong Kong IPO, which launched on Monday. According to filings, Shein is selling 280 million shares priced between HK$47.60 and HK$49.50 apiece, valuing the company at close to $27 billion at the top of that range. The valuation marks a sharp decline from earlier private fundraising rounds, which valued Shein at $98.2 billion in 2022 and $64 billion in both 2023 and April 2024. The company is expected to announce its final IPO price on Aug 31, with trading set to begin on Sept 1. Known for selling $5 dresses and $10 jeans to shoppers across roughly 160 countries, Shein had initially sought an IPO valuation of between $30 billion and $40 billion when investor meetings ahead of the listing first began. The marked decline in valuation follows growing investor concerns over slowing growth, rising costs and shifting market conditions, with some investors expressing doubt that Shein could return to the growth rates that once valued it at nearly $100 billion four years ago. Cornerstone investors led by existing shareholders Boyu, Tiger Global and General Atlantic have subscribed for around $383 million worth of Shein shares, according to the prospectus. Tencent, Greenwoods, Taikang Life and UBS Asset Management are also participating as stock investors. Shein said approximately 80% of the funds raised through the IPO will be used to enhance its technology capabilities and strengthen its brand presence globally. The company has also agreed to pay up to roughly $3.5 billion in cash to certain investors who purchased special shares in earlier private funding rounds, the prospectus showed. Shares sold in the Hong Kong IPO will carry one-tenth the voting rights of shares held by the company’s founders. Co-founders Sky Yangtian Xu, Maggie Gu, Molly Miao and Tony Ren will collectively control 90% of Shein’s voting rights following the listing. Growth Slows Sharply The long-awaited listing comes at a time when slowing revenue growth and weaker core earnings are weighing on Shein’s business, with shrinking margins also raising concerns that its expansion is facing headwinds from rising trade costs, tighter regulatory scrutiny and intensifying competition across global e-commerce. Shein said in its prospectus that first-half 2026 revenue growth is expected to be broadly in line with the 1.1% growth recorded in the first quarter, while its operating margin is expected to come in slightly lower than the first-quarter level. The company attributed this to new European import charges, pricing pressure and weaker demand in the Middle East linked to the Iran war. Shein swung to a $99 million quarterly loss after the United States removed an import duty exemption on small packages, compounded by a $328 million fair-value charge on convertible redeemable preferred shares following an accounting change. Shein’s IPO stands as the largest new share sale in Hong Kong in 2026, surpassing autonomous driving firm Momenta Global’s $751 million offering in July. It ranks as the third-largest IPO in Asia this year, trailing CXMT and China Resources New Energy, which raised $9.8 billion and $3.6 billion respectively through Chinese onshore listings. Hong Kong IPOs have raised approximately $41 billion so far this year, a record for the period and more than double the $17 billion raised over the same period a year earlier, according to LSEG data.

Dagang Nexchange Bhd (Dnex) has proposed to dispose of its floating production storage and offloading (FPSO) vessel, Excalibur, to MISC Bhd for US$35 million (RM142.2 million) in cash. In a filing with Bursa Malaysia, Dnex said its 90%-owned Ping Petroleum Ltd’s wholly-owned subsidiary, Ping Petroleum UK PLC, had entered into a memorandum of agreement with MISC for the proposed disposal. The proposed disposal is expected to generate a pro forma gain of US$5.86mil, or RM23.81mil. The proposed disposal is expected to generate a pro forma gain of US$5.86 million, or RM23.81 million, after taking into account capital gains tax and the recovery of capital allowances previously claimed on the vessel. Dnex said Excalibur currently carries a net book value of US$13.25 million, or RM53.83 million, on the company’s books. An independent valuation conducted by ABS Consulting placed the vessel’s fair value at between US$22.5 million and US$43.5 million, suggesting that the proposed disposal price falls within a reasonable range relative to its assessed worth. The FPSO, built in 2007 and designed with a capacity of 300,000 barrels, is currently laid up at the Port of Nigg in Scotland, having ceased active operations for some time. The proposed sale marks a strategic move for Dnex as it continues to streamline its portfolio of assets within its oil and gas operations, with the transaction expected to provide the group with additional cash proceeds while realising a gain from the disposal of a non-operational vessel.

NexG Bhd today clarified that the request for an indicative price for the possible acquisition of its wholly owned subsidiary, Datasonic Technologies Sdn Bhd (DTSB), by the government was made by the Ministry of Finance (MOF) last month. “The request was conveyed to DTSB verbally at a meeting with MOF held on July 24, 2026, and was not made by way of a written document,” the security-related integrated technology solutions provider said in a reply to a query from Bursa Malaysia today. DTSB is the provider of the MyKad national identity card. Yesterday, NexG said DTSB had been valued at RM7.5 billion, citing its ownership of valuable intellectual property, along with identity technology spanning International Civil Aviation Organisation (ICAO)-compliant e-passports and biometric systems that use multimodal biometrics and facial recognition. NexG said MOF had requested DTSB, at the meeting, to provide an assessment of three potential scenarios: the compensation that might be payable in the event of a termination of the MyKad supply contract between the Ministry of Home Affairs and DTSB; the indicative price for a possible acquisition of DTSB; and the indicative price for a possible acquisition of a controlling block of shares in NexG, the holding company of DTSB. “Following an internal assessment conducted by the management of the company using the discounted cash flow method, which took into consideration various factors — this includes, amongst others, DTSB’s future earnings-generating capabilities, projected future cash flows, business sustainability and other relevant factors affecting the business and operations of DTSB — the management has assessed the indicative value of DTSB at approximately RM7.5 billion,” the group said. NexG said the board also recognises that DTSB currently represents the core business of the group and is the major contributor to its revenue and earnings. Accordingly, it said any disposal of DTSB, should it materialise, might have a material impact on the group’s business operations and financial performance, and could also affect the group’s level of operations as well as its continued listing status on the Main Market of Bursa Malaysia Securities Bhd.

Crewstone International Sdn Bhd (“Crewstone”), a licensed and regulated private equity and private credit manager, has entered into a strategic co-investment with Mirai Bridge Capital Sdn Bhd (“MBC”), also a licensed Private Equity Management Corporation, through Thirty Three Digitec Solutions Sdn Bhd (“Digitec”), a non-bank financing platform that sits within a wider financing ecosystem with more than RM 500 million in financing transactions over the past 3-5 years. Pictured at the signing ceremony are Keng Fai Wong, Chief Executive Officer of Crewstone International; Tommy Ng, Co-Founder of Mirai Bridge Capital and Ng Kae Shen, Director of Thirty Three Digitec Solutions, marking the formalisation of a strategic co-investment partnership between the three parties. Led by Crewstone through an initial RM5.0 million commitment, the partnership builds on Crewstone’s wider financial services private credit strategy, including more than RM30 million deployed into financial services companies across prior private credit transactions. Together with MBC’s licensed investment-management platform, Digitec’s operating infrastructure, and a network of more than 30 KPKT-licensed money-lending partners, the partnership is designed to scale a more structured non-bank financing ecosystem supported by capital access, governance discipline, origination data and repayment monitoring. The structure also strengthens credit alignment through personal guarantees from Digitec’s key operating team members, supported by MBC’s corporate guarantee role as a licensed PEMC. Digitec principals bring over 30 years of combined industry experience across consumer credit and micro-lending, with hands-on expertise in credit operations, underwriting and borrower management, while MBC adds regulated investment-management credibility to the guarantee framework. Digitec currently supports approximately 83,000 borrowers, processes approximately 8,000 applications per month, and reaches gig economy workers, micro-entrepreneurs and thin-file borrowers, with scope to expand that footprint by approximately 40% over the next 12-18 months following this partnership. The business has recorded year-on-year growth in digital acquisition of 40%, supported by a streamlined onboarding journey comprising 6 steps and a current turnaround time of approximately 30 minutes from application to credit decision. Approximately 55% of approved applications are successfully disbursed within 3 hours, underscoring the platform’s ability to reduce friction at the front end while improving customer responsiveness, particularly for borrowers seeking timely access to financing for urgent personal and small business needs. This digitalisation extends beyond onboarding into underwriting and collections, where automation is increasingly shaping both operating efficiency and portfolio management. Digitec’s credit decisioning engine currently processes approximately 60% of applications end-to-end on an automated basis, while automated income verification and document extraction have achieved an accuracy rate of around 80%. Manual credit assessment, which previously took approximately 2-3 days, has now been reduced to around 30 minutes through workflow enhancements across OCR, AI-enabled processing and operating controls that have strengthened the platform’s underwriting and servicing capabilities.  On the collections side, Digitec uses personalised dunning strategies, risk-based prioritisation, unified account views for agents and real-time reporting for supervisors. Early-stage delinquency alerts are triggered by missed payment behaviour, deteriorating repayment patterns, repeated broken promises to pay and higher-risk balance migration, allowing intervention to begin earlier and with greater precision. These enhancements have contributed to an approximately 700-basis-point year-on-year reduction in default rates, reflecting stronger underwriting and repayment monitoring. That strategic alignment finds practical expression in Digitec, serving a segment of the Malaysian market that remains insufficiently reached by conventional credit channels. As of January 2026, Malaysia’s labour force stood at 17.28 million. Within that, 3.13 million were own-account workers, a segment more likely to have less conventional income documentation. On the enterprise side, MSMEs employed 8.10 million people and contributed 39.5% of GDP, pointing to a large borrower base whose financing needs are not always well served by traditional underwriting models, particularly where income trails are less formal, credit histories are limited, or turnaround times matter. The partnership comes as global private credit continues to scale, with the market now estimated at approximately USD 1.8 trillion and private credit strategies attracting more than USD 220.0 billion in 2025. Institutional direct-lending funds also raised at least USD 16.0 billion in Q2 2026 alone, reflecting continued demand for non-bank financing channels. Against this backdrop, Digitec provides Crewstone and MBC with access to a scalable Malaysian private credit platform supported by licensed origination, borrower-level data, underwriting automation and repayment monitoring. “This partnership reflects Crewstone’s belief that in a market that is already competitive and becoming more so, the strongest outcomes will come from firms that know when to join forces and scale with intent,” said Keng Fai Wong, Chief Executive Officer of Crewstone International. “By combining Crewstone’s capital and growth capabilities with MBC’s platform familiarity and operating proximity, we are building from a stronger base. That matters not only for Digitec, but for how both firms position themselves for the next phase of opportunity across Asia.” “We are pleased to be working with Crewstone on Digitec and believe this partnership brings meaningful strategic value to the platform,” said Tommy Ng, Co-Founder of Mirai Bridge Capital. “Crewstone’s strength in capital formation, structuring and growth strategy makes them a strong partner for this next phase. More broadly, we see this as the beginning of a wider relationship, with potential to pursue additional opportunities together over time.” “Crewstone’s participation reflects strong conviction in the platform we have built and in the opportunity ahead. This initial commitment strengthens our ability to scale the loan book, deepen our underwriting capability, and expand access to structured financing across segments that continue to be underserved,” said Ng Kae Shen, Director of Thirty Three Digitec Solutions.

CIMB Niaga is among eight payment service providers participating in Bank Indonesia’s (BI) newly launched Indonesian Credit Card (KKI), which offers individuals and businesses a new credit payment option for transactions conducted through the country’s Quick Response Code Indonesian Standard (QRIS) payment system. CIMB Niaga Tbk, Indonesia’s sixth-largest bank by assets, is majority-owned by Malaysia-based CIMB Group, making it one of the more prominent regional players involved in this latest payment system initiative. Acting Bank Indonesia Governor Destry Damayanti said the initiative, launched in conjunction with Indonesia’s 81st Independence Day, was aimed at ensuring advances in the payment system contribute meaningfully to economic growth while delivering tangible benefits to the public. “This policy response stems from the optimism that it represents a tangible contribution by Bank Indonesia together with the payment system industry to the Indonesian nation, while also serving as an independence gift to the public,” she said in a statement, underscoring the symbolic timing of the launch alongside its practical economic objectives. BI said eight payment service providers had issued the KKI as of Aug 17, namely BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata Bank, Bank Mega and BSI, with the latter developing a sharia-compliant financing scheme to cater to Islamic banking customers. BI also reported that as of June, QRIS had recorded 65.77 million users and 44.86 million merchants, of which 96.68% were micro, small and medium enterprises (MSMEs), highlighting the payment system’s deep penetration into Indonesia’s grassroots business community. A total of 12.55 billion transactions worth 1.12 quadrillion rupiah were recorded in the first half of 2026 alone, reflecting the rapid growth and adoption of QRIS-based payments across the country. Meanwhile, Antara News Agency reported that the KKI, which was previously issued only to central and regional government agencies to support government spending, has now been expanded to individuals and corporations for both conventional and sharia-compliant services, with the initial rollout taking the form of a digital card. BI Payment System Policy Department head Ryan Rizaldy was quoted as saying that the KKI would subsequently be developed further to facilitate online payments as well as offline transactions using physical cards, signalling BI’s intention to broaden the card’s functionality and accessibility over time as the programme matures.