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Investment & Market Trends

Duopharma Unit Wins RM155.3 Million Insulin Supply Deal

Duopharma Biotech Bhd, whose shares have fallen 22% since mid-February, said its unit has secured a RM155.28 million contract to supply insulin products to public hospitals and clinics nationwide. In a filing on Tuesday, the pharmaceutical group said the government has accepted the tender submitted by its wholly owned subsidiary Duopharma (M) Sdn Bhd (DMSB) and issued a letter of award (LOA) for the contract. The supply covers recombinant human insulin 100 IU/ml Penfill/Refill, including short-, intermediate- and premixed-acting formulations, as well as reusable insulin pens. The contract runs for three years, from June 3, 2026 to June 2, 2029. Under the terms of the award, DMSB is required to provide an irrevocable performance bond of RM2.59 million within 30 days of accepting the LOA. The company must also ensure timely delivery and compliance with government-set quality specifications, with penalties or order cancellations applicable in cases of non-compliance or delays. The agreement also allows for termination under certain conditions, including failure to submit the performance bond, supply delays, breach of tender requirements, unauthorised equity changes, or reasons related to public interest, security, or national interest. Duopharma noted that Malaysia has an estimated 4.75 million diabetics, with around 450,000 patients receiving recombinant human insulin treatment at government healthcare facilities. The group said the contract is expected to contribute positively to earnings over its duration. Duopharma, in which Permodalan Nasional Bhd holds a 44.11% stake, is a long-standing supplier of human insulin to the government and the primary distributor for Biocon Biologics, which manufactures insulin in Johor. The group previously supplied about 80% of government insulin demand, while the remainder was supplied by Novo Nordisk, which exited the human insulin market in 2024, leaving Duopharma as the sole supplier. Duopharma shares closed unchanged at RM1.21, giving the company a market capitalisation of RM1.16 billion.

Investment & Market Trends

Collins Aerospace To Invest US$63 Million In Subang MRO Facility Expansion

Collins Aerospace, a subsidiary of RTX Corporation, is investing US$63 million (RM255.8 million) to expand its maintenance, repair and overhaul (MRO) facility at the Subang Aerotech Park, significantly increasing its operational capacity in Malaysia. Collins Aerospace president Irene Markis. The expansion will quadruple the facility’s footprint from 46,000 square feet to 164,000 square feet, making it the largest MRO facility of its kind in the region. According to Collins Aerospace president Irene Markis, the expansion is aimed at capturing rising demand from the fast-growing Asia-Pacific aviation sector. She noted that the Asia-Pacific region is currently the fastest-growing aviation market globally, with the majority of its population yet to take their first flight. Over the next two decades, the global aircraft fleet is expected to grow from 30,000 to more than 45,000 aircraft, with Asia-Pacific expected to drive a significant share of that expansion. The expanded Subang facility will provide maintenance, repair and overhaul services for aircraft including the Boeing 787, Boeing 777 and Airbus A330, along with their associated systems. Services will cater not only to Malaysia and neighbouring markets but also to wider international clients. While the facility was officially launched on Tuesday, full transition into the expanded operations is expected to be completed by the end of 2026. Talent expansion and Malaysia’s role Markis said Malaysia was chosen for the expansion due to Collins Aerospace’s more than 30 years of operations in the country, as well as the adaptability and technical capability of local talent in adopting advanced technologies. Currently, the Subang MRO facility employs about 150 people, with headcount expected to increase by 30% to 50% over the next five to 10 years as operations scale up. Minister of Transport Anthony Loke Siew Fook highlighted ongoing government efforts to support the industry, including a memorandum of understanding with the Ministry of Defence to reskill retired Royal Malaysian Air Force personnel for roles in the aerospace sector. He noted that these experienced personnel, many of whom are in their early 40s, represent a ready talent pool to support the industry’s expansion. “We have a ready workforce who have just retired and are in their early 40s who can come to fill these jobs. So bring in more investment, bring more jobs. We will have people ready for you,” he said.

Energy & Technology

DNeX Unit Secures 20% Stake In Terengganu State-Owned Oil And Gas JV

Dagang NeXchange Bhd (DNeX) is expanding its presence in the upstream oil and gas sector with a 20% equity stake in a joint venture formed with Terengganu Inc’s energy arm, TI Petroleum Sdn Bhd. In a statement, the group said its subsidiary, Ping Petroleum Ltd, will hold the stake in the joint-venture company, TI Exploration & Production Sdn Bhd (TI EP). The financial details of the investment were not disclosed. TI Petroleum is the energy arm of Terengganu Inc Sdn Bhd, while TI EP is a joint venture established by TI Petroleum and Ping Petroleum to pursue oil and gas exploration and production activities. DNeX said the acquisition supports its strategy to grow its energy business and strengthen its portfolio in regional upstream opportunities. The partnership also provides Ping Petroleum, which is already active in Terengganu through the redevelopment of the Abu Cluster, with a platform to further expand its participation in Malaysia’s upstream sector alongside a partner with strong local regulatory and supply chain experience. The company added that the collaboration is expected to create synergies through Terengganu Inc’s role as a state investment holding company managing commercial and strategic assets on behalf of the state government. DNeX chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir said the partnership combines technical expertise with strategic positioning to unlock near-term opportunities while building a stronger foundation for long-term growth in Malaysia’s upstream energy sector. On the market front, DNeX shares rose 2.5 sen or 8.2% to close at 33 sen, giving the group a market capitalisation of approximately RM1.15 billion.

Energy & Technology

Dayang Enterprise Forms JV With Brunei Partner To Expand Oil And Gas Presence

Dayang Enterprise Holdings Bhd has entered into a joint-venture (JV) and shareholders’ agreement through its wholly owned subsidiary, Dayang Enterprise Sdn Bhd (DESB), with Brunei-based Petrokon Utama Sdn Bhd for a proposed project collaboration in Brunei. In a filing with Bursa Malaysia, the group said the JV aims to strengthen its strategic presence in Brunei and enhance its participation in maintenance, turnaround and construction (MTC) activities through collaboration with an established local partner. It added that the partnership is expected to complement Dayang’s existing technical capabilities while supporting its long-term growth strategy in the regional oil and gas sector. Under the agreement, DESB and Petrokon Utama will establish a joint-venture company in Brunei, to be named Petrokon Dayang Corporation Sdn Bhd, or another name approved by the relevant authorities. Both parties will hold an equal stake of 50% each in the JV company, which will have an initial paid-up capital of BND100,000. DESB will be entitled to appoint up to two directors to the board of the JV company, with one of its nominees expected to serve as chairman. The JV agreement will come into effect upon fulfilment of conditions precedent, including the incorporation of the JV company and the award of the relevant project in Brunei. Dayang said the collaboration is not expected to have any material impact on its issued share capital, earnings, net assets, or gearing for the financial year ending Dec 31, 2026.

The Executives

Inari Amertron Appoints Phang Ah Tong As Chairman

Inari Amertron Bhd has appointed its independent director Datuk Phang Ah Tong as the group’s new chairman, effective Tuesday, as part of a broader boardroom reshuffle within the semiconductor company. Phang, 69, succeeds Tengku Puteri Seri Kemala Tengku Aishah, who has been redesignated as a non-independent director, according to a filing with Bursa Malaysia. The group said Phang has served as an independent director since February 2018 and brings extensive experience in governance and industry oversight. He is also a board member of the Malaysian Investment Development Authority (Mida), a position he has held since January 2026. Tengku Puteri Seri Kemala, also 69, is the sister of the Sultan of Pahang, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah. She has been part of Inari’s board for nearly 16 years since joining the group in September 2010. In a separate announcement, Inari said Chong Poh Leng has been redesignated as an executive director in addition to her existing role as group chief financial officer, further strengthening the company’s executive leadership team. The group also noted that independent and non-executive director Dr Tunku Alina Raja Muhd Alias has resigned, citing time constraints. The board changes come amid active leadership adjustments within the group as it continues to strengthen governance and operational oversight in the semiconductor space. On the market front, Inari shares rose four sen or 1.8% to close at RM2.27 ahead of the announcements, giving the company a market capitalisation of approximately RM8.65 billion.

Property

Varia To Jointly Develop RM250 Million Residential Project In Johor Bahru

Varia Bhd has announced a partnership with a Johor-based property developer to jointly develop a medium-cost residential project in Bandar Seri Alam, Johor Bahru, with an estimated gross development value (GDV) of about RM250 million. In a filing with Bursa Malaysia, the group said its wholly owned subsidiary, Varia Southrise Sdn Bhd, has entered into a collaboration agreement with Seri Alam Properties Sdn Bhd for the development. Under the agreement, both parties will jointly develop a 43,810 sq m freehold parcel in Mukim Plentong into a stratified medium-cost residential scheme comprising 645 apartment units. Varia Southrise will hold the exclusive rights to undertake the development, subject to approvals from the relevant authorities. The company said that while the development order and building plans have already been approved, it is still awaiting the issuance of the advertising permit and developer’s licence. The project is expected to be launched later this year, pending final regulatory approvals. Funding for the project will primarily be sourced through project financing at the company level, supplemented by initial advances under the collaboration agreement. Any additional funding requirements will be shared equally between both parties. Varia said the collaboration aligns with its strategy to expand its property development segment through partnerships with established landowners in key growth corridors, while unlocking value from its strategic landbank and delivering sustainable long-term returns. On the market front, Varia shares closed one sen or 1.1% lower at 87 sen, giving the group a market capitalisation of approximately RM376.3 million.

The Executives

George Tung Named CEO Of UOB Hong Kong Branch

UOB has appointed George Tung as the new Chief Executive Officer of its Hong Kong Branch, effective July 1, 2026, as part of the bank’s strategy to strengthen regional connectivity and support growing cross-border business between mainland China and ASEAN. Tung succeeds Adaline Zheng, who will assume the role of CEO of UOB China. UOB Deputy Chairman and Chief Executive Officer Wee Ee Cheong said Hong Kong plays an increasingly important role as a connector between mainland China and ASEAN, adding that the bank is sharpening its focus on enhancing its wholesale banking, private banking and wealth management capabilities. Tung brings more than three decades of banking experience spanning mainland China, Hong Kong, South Korea and ASEAN markets. He joined UOB in 2010 and spent a decade leading the Hong Kong Branch’s Wholesale Banking business, overseeing client coverage as well as investment banking, transaction banking, client fulfilment services and portfolio management. In 2021, he was appointed Country Manager of UOB South Korea, where he strengthened strategic partnerships with leading Korean and international institutions while expanding market connectivity between South Korea and ASEAN. As CEO of UOB Hong Kong Branch, Tung will be responsible for setting the branch’s strategic direction, driving business growth and reinforcing UOB’s position as a key banking partner connecting clients across Hong Kong, mainland China and ASEAN. He will also lead efforts to strengthen the bank’s wholesale and private banking businesses, deepen client relationships and enhance engagement with regulators and customers. Established in 1965, UOB Hong Kong Branch was the bank’s first overseas branch and remains a key part of its regional network supporting cross-border trade, investment and wealth management activities.

The Executives

UOB Appoints Adaline Zheng As CEO Of UOB China

UOB has appointed Adaline Zheng as the new Chief Executive Officer of UOB China, effective July 1, 2026, as the bank strengthens its cross-border banking capabilities and deepens connectivity between China and ASEAN. Zheng succeeds Peter Foo, who is retiring after 15 years with the bank, having played a key role in building UOB’s China-ASEAN connectivity business. UOB Deputy Chairman and Chief Executive Officer Wee Ee Cheong said China remains a major driver of trade, investment and cross-border flows with ASEAN, and the bank is committed to enhancing its capabilities to better support customers’ regional expansion plans. With more than 20 years of banking experience across mainland China and Hong Kong, Zheng joined UOB China in 2018 as Head of Wholesale Banking, overseeing Corporate Banking, Commercial Banking, Financial Institutions, Structured Trade and Commodity Finance, Transaction Banking and Investment Banking. In March 2024, she was appointed CEO of UOB Hong Kong Branch after holding various senior leadership roles in wholesale and investment banking at a multinational bank. As CEO of UOB China, Zheng will oversee the bank’s operations in mainland China, drive its strategic priorities and strengthen its cross-border banking capabilities to facilitate greater connectivity between China and ASEAN. Headquartered in Shanghai, UOB China was incorporated in 2007 and operates across key economic regions in mainland China, offering wholesale banking and global markets services while leveraging UOB’s regional network to support clients’ cross-border trade and investment activities. Wee said Zheng’s deep regional experience and strong capital markets background position her well to lead UOB China into its next phase of growth while further strengthening long-term customer relationships.

The Executives

Moomoo Singapore Appoints Jeyson Ng As CEO

Moomoo Singapore has appointed Jeyson Ng as its Chief Executive Officer, marking a new phase of growth as the digital investment platform expands its presence within Singapore’s financial ecosystem and strengthens its position across the region. Before taking on the CEO role, Jeyson held senior leadership positions across the financial services and capital markets industry, bringing extensive experience in exchange development, market strategy, institutional engagement and ecosystem partnerships. Since joining Moomoo Singapore, he has played a key role in driving the company’s strategic expansion, strengthening industry collaborations and advancing its long-term vision of technology-enabled investing and investor empowerment. As CEO, Jeyson will focus on four strategic priorities: Deepening investor education and financial literacy programmes Accelerating the adoption of AI-driven investing tools and intelligent investment experiences Expanding access to global investment opportunities and institutional-grade capabilities Strengthening partnerships across Singapore’s financial and capital markets ecosystem Echo Zhao, Country Head of Moomoo Singapore, said Jeyson’s combination of capital markets expertise, industry relationships and strategic leadership experience will be instrumental as the company enters its next stage of development. He noted that Singapore continues to strengthen its position as a global financial hub and expressed confidence that Jeyson is well positioned to deepen the company’s local market presence, enhance industry partnerships and deliver greater value to investors. Advancing Technology and Investor Education Over the past year, Moomoo Singapore has expanded its market presence through a series of initiatives focused on investor education, ecosystem partnerships and technology innovation. Among these is the launch of Moo Academy, the company’s flagship investor education platform aimed at building a stronger and more connected financial ecosystem by bringing together financial institutions, listed companies, industry partners and retail investors. The company has also accelerated its artificial intelligence strategy through the introduction of innovations such as Moomoo AI and Moomoo API Skills, reinforcing its commitment to providing smarter, data-driven and intuitive investing experiences. These initiatives form part of Moomoo Singapore’s broader mission to empower investors through advanced technology, actionable insights and intelligent investment tools, while encouraging greater retail participation in Singapore’s capital markets through education, market intelligence and access to diversified global investment products. Jeyson said Singapore remains one of the world’s most trusted and resilient financial centres, adding that the future of investing will increasingly be shaped by digitalisation, global connectivity and artificial intelligence. He said investors today are seeking not only broader market access but also smarter tools that can help them analyse information, identify opportunities and make more informed investment decisions. According to Jeyson, artificial intelligence will play a transformative role in making sophisticated market insights, data and execution capabilities more accessible to everyday investors, and he looks forward to working closely with the company’s team, partners and regulators to continue building a trusted and intelligent investing platform for Singapore and the wider region.

Investment & Market Trends

AMMB To Acquire Menara AmBank For RM331 Million In Related-Party Deal

AMMB Holdings Bhd is acquiring its corporate headquarters, Menara AmBank on Jalan Yap Kwan Seng, for RM331 million in cash through a related-party transaction, a move aimed at securing its long-term office requirements and reducing future rental costs. In a filing with Bursa Malaysia, the banking group said its wholly owned subsidiary, AmBank (M) Bhd, has entered into a sale and purchase agreement with Maybank Trustees Bhd, acting on behalf of AmFIRST Real Estate Investment Trust (AmFIRST REIT), the current owner of the property. The 46-storey freehold office tower has a net lettable area of 453,419 square feet and an occupancy rate of 77.8%, with AmBank serving as the anchor tenant and occupying 65.6% of the building. As part of the acquisition, AmBank will assume the existing tenancies and licences covering approximately 12.2% of the building’s net lettable area, while the remaining vacant space will provide opportunities for future expansion or operational consolidation. The group said owning Menara AmBank will help secure its long-term office tenure while potentially mitigating increases in occupancy-related costs. The transaction is classified as a related-party deal due to overlapping ownership interests between AMMB and AmFIRST REIT. AmREIT Managers Sdn Bhd, the manager of AmFIRST REIT, is wholly owned by AmREIT Holdings Sdn Bhd, of which 70% is owned by AmInvestment Group Bhd, a wholly owned subsidiary of AMMB. The remaining 30% stake is held by Amcorp Properties Bhd, a unit of AMMB’s major shareholder, Amcorp Group Bhd. Tan Sri Azman Hashim, chairman emeritus and honorary adviser of AMMB, is an indirect major shareholder of both AMMB and the REIT manager through his interests in Amcorp Group. He is also a director of Yayasan Azman Hashim, a substantial unitholder of AmFIRST REIT. In addition, AmBank holds a 26.73% stake in AmFIRST REIT, making it one of the trust’s major unitholders. AMMB said the RM331 million purchase price was agreed on a willing buyer-willing seller basis after taking into account an independent market valuation of RM333 million. The acquisition will be funded through internally generated funds and is not expected to have a material impact on the group’s earnings, net assets or gearing for the financial year ending March 31, 2027. As at end-March, the group had RM6.82 billion in cash and short-term funds. The transaction is expected to be completed by the fourth quarter of 2026. Shares of AMMB closed 10 sen lower at RM6.45 on Monday, giving the banking group a market capitalisation of RM21.38 billion.

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