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ESG

AEON Delight Malaysia’s Spogomi 2026 Unites 52 Teams For A Cleaner, Greener Malaysia

AEON Delight (Malaysia) Sdn. Bhd. (“ADM”) successfully hosted SPOGOMI 2026 at Pantai Bagan Lalang, Selangor, bringing together 52 teams and 233 participants from AEON Group Malaysia, business partners, educational institutions and local communities in a unique environmental sporting event that combines competition, teamwork and environmental stewardship. More than 200 participants from 52 teams gathered at Pantai Bagan Lalang for SPOGOMI 2026. The event brought together participants from eight other companies within AEON Group Malaysia, alongside business partners, government agencies, educational institutions and local communities, reflecting a shared commitment to environmental sustainability and community engagement. The participating AEON Group companies included AEON Co. (M) Bhd., AEON Credit Service (M) Berhad, AEON BiG (M) Sdn. Bhd., AEON Bank (M) Berhad, AEON Fantasy (M) Sdn. Bhd., AEON Global Supply Chain Sdn. Bhd., AEON360 Sdn. Bhd. and AEON Insurance Brokers (M) Sdn. Bhd. The event also received valuable support and participation from business partners and supporting organisations, including Majlis Perbandaran Sepang, SWCorp Malaysia, MILO Malaysia, Sunshine Bakeries, IMEC Hygiene and Neutrovis. Students from Sekolah Menengah Hin Hua also participated alongside corporate teams, highlighting the importance of engaging younger generations in environmental conservation. The event exceeded its target by collecting 371.10kg of waste. ADM extends its utmost appreciation to the business partners, government agencies, educational institutions, community members and supporting organisations whose participation and contributions helped make SPOGOMI 2026 a meaningful and impactful community event. Building on the success of Malaysia’s inaugural SPOGOMI event organised by ADM in 2024, SPOGOMI 2026 further demonstrates the Company’s commitment to promoting environmental awareness and encouraging communities to take practical action towards cleaner and more sustainable public spaces. Originating in Japan, SPOGOMI combines the words “spo” for “sport” and “gomi” – the Japanese word for “trash” – transforming litter collection into a competitive team activity. Participants compete to collect and sort waste within a designated area and time limit, with points awarded according to the quantity and categories of waste collected. The format makes environmental conservation engaging, educational and impactful. During the competition, participants collected a total of 371.10 kilograms of waste, exceeding the event’s 100-kilogram target by 271.10 kilograms and achieving 3.7 times the original target. Compared with the approximately 74 kilograms collected during Malaysia’s inaugural SPOGOMI event in 2024, this represents approximately five times the amount of waste collected. The significant increase highlights growing awareness of environmental responsibility and demonstrates how collaboration among businesses, government agencies, educational institutions and local communities can contribute to cleaner and more sustainable public spaces. The competition concluded with an award presentation ceremony recognising teams that demonstrated outstanding performance in waste collection, sorting accuracy and teamwork. Shuji Gobara, Managing Director of AEON Delight (3rd from right), with ABM Team 7, the SPOGOMI 2026 Champions, ABM Team 7 emerged as the SPOGOMI 2026 Champion, followed by Green Sustain as Runner-Up and ABM Team 1 in Third Place. The Best Teamwork Award was presented to Hin Hua 6 while in recognition of the team’s exceptional teamwork, enthusiasm and commitment throughout the competition, while ABM Team 1 managed to win the Special Prize – Havoc Award in recognition of their spirited, enthusiastic and lively energy throughout the competition. The event was honoured by the attendance of Minister NIHEI Daisuke of the Embassy of Japan in Malaysia, together with representatives from Majlis Perbandaran Sepang and SWCorp, senior leaders from AEON Group Malaysia and representatives from participating organisations. Their presence underscored the growing support for environmental initiatives that strengthen community engagement and promote sustainable lifestyles. ADM’s first SPOGOMI event in Malaysia, held in 2024, brought together 150 participants across 27 teams and collected approximately 74 kilograms of waste. The substantial growth in participation, stakeholder support and waste collection in 2026 reflects increasing awareness of environmental responsibility and the positive momentum generated by the initiative. Through the continued organisation of SPOGOMI, ADM aims to encourage people from all walks of life to take practical action towards environmental conservation while strengthening collaboration among businesses, government agencies, educational institutions and local communities. ADM remains committed to contributing to safer, cleaner and more comfortable communities through its business activities and social initiatives, in line with its corporate philosophy of creating sustainable value for society.

ESG

The Business Behind The Symbols We See Everywhere

They hang outside government buildings, line streets during national celebrations and dominate the backdrop of major corporate events. We see them so often that we rarely stop to think about where they come from. Flags are everywhere. Managing Director of Star Light Flag Trading Sdn. Bhd – Annie Chia.   But behind every Jalur Gemilang flying correctly, every state flag displayed at an official function and every corporate flag carrying precisely the right colours is a business where details matter more than most people realise. For one Malaysian visual communication and flag solutions company, those details have become its speciality. Its business spans national and state flags, institutional flags, customised corporate designs, banners and large-format visual branding for government agencies, corporations, educational institutions, event organisers and consumers. At first glance, it is a business about producing flags. Look closer, and it is really a business about identity and representation.   Getting the Symbol Right A flag is unusual because its value is rarely determined by the material alone. What it represents matters considerably more. A national flag carries identity and pride. An institutional flag represents authority and belonging. A corporate flag can turn an otherwise anonymous venue into a branded environment before anybody has even walked through the door. That leaves surprisingly little room for getting things wrong. Colour needs to be consistent. Specifications matter. Materials need to suit their environment. Outdoor flags must withstand different conditions from those intended for ceremonial display, while event branding can require entirely different dimensions and finishes. Then there is time. An event does not wait because a supplier is running late. Neither does a national celebration or official ceremony. The company identified this problem early. While many businesses could produce similar products, consistency in colour, durability, turnaround time and service was not always guaranteed. That gap became an opportunity. Its ability to handle both standardised demand — including Malaysian and state flags — and highly customised branding requirements within one operation has allowed it to serve very different types of customers without treating every order the same way. Sometimes the requirement is thousands of standard flags. The next project might involve a bespoke corporate design needed urgently for an event. The product changes. The expectation does not. It has to arrive right.   A Physical Business in a Digital World There is an interesting contradiction in the company’s growth story. Branding has become overwhelmingly digital. Companies invest heavily in social media, websites, digital advertising and content designed to make themselves visible on screens. Yet physical visibility has not disappeared. Walk through a city during Merdeka month and the power of a physical symbol is obvious. Attend a major corporate event and branding occupies walls, entrances, stages and public spaces. Visit an institution and flags remain one of the clearest visual expressions of identity. The medium may be traditional. Customer expectations are anything but. Clients increasingly want faster turnaround, clearer communication, more customisation and seamless service. This has pushed the company beyond being purely production-focused towards becoming a broader visual branding solutions provider. And that transition is changing the business behind the scenes. As order volumes and project complexity increase, activities once managed directly require formal processes. Quality control must remain consistent. Teams need clearer responsibilities. Decisions have to move faster without creating mistakes. Leadership has consequently shifted from hands-on involvement towards SOP development, delegation, performance monitoring and stronger operating systems. It is the less glamorous side of scaling, but arguably the one that matters most.   Growth Without Losing Control The company is equally clear that more business does not automatically mean better business. It is deliberately avoiding uncontrolled expansion or projects that could compromise quality and responsiveness simply to increase short-term revenue. Instead, capital and resources are being directed towards production efficiency, supplier reliability, digital presence and customer experience. Sustainability is entering those decisions too. Over the past 12 to 18 months, the company has introduced more environmentally friendly production materials, including eco-friendly inks for selected products, despite the higher costs involved. For an SME, that trade-off is tangible. Higher input costs can directly affect margins. Yet the company believes responsible growth sometimes means accepting an immediate cost for a longer-term objective. Now it is preparing for a larger transformation. The next ambition is to move from an execution-driven operation into a more integrated branding solutions business, supported by automation, stronger digital customer engagement, talent development and potentially broader regional reach. That means building a company where growth is supported by systems rather than dependent on individual effort. For a business whose products are designed to make nations, institutions and brands instantly recognisable, there is a certain symmetry to the challenge ahead. For years, it has helped others display who they are. Now it is defining what it wants to become.  

Lifestyle

Ritelac Is Betting Consumers Won’t Choose Between Price And Quality

The supermarket aisle has become a place of calculation. Consumers are looking at prices more carefully, comparing what they get for what they pay and deciding which brands still deserve a place in the trolley. But being more careful with money does not necessarily mean wanting less. If anything, expectations have become tougher: make it affordable, but don’t make it feel cheap. Managing Director of Ritelac (M) Sdn Bhd – Sri Rishikheshen Murugan. That is the space Ritelac (M) Sdn Bhd wants to own. The Malaysian FMCG company specialises in dairy-based and chocolate products, including milk powders and chocolate beverages, distributed through supermarkets, hypermarkets, wholesalers and independent retailers. Yet its bigger proposition is not simply what it sells. It is the balance it is trying to strike between quality, accessibility and price. For Ritelac, that middle ground has become increasingly relevant. The company saw a market largely divided between premium-priced products and cheaper alternatives. Its answer was not to join a race to the lowest possible price, but to build products for consumers who wanted affordability without feeling they were surrendering quality, taste or nutritional value. Today, that proposition carries even greater weight. As household costs rise, value has taken on a different meaning. Consumers are not simply hunting for the cheapest option. They are scrutinising what their money actually buys. And that changes the game for brands.   Affordable Is No Longer Enough There was once a fairly straightforward formula for competing on value: lower the price and attract the buyer. Ritelac believes that formula is becoming less reliable. Modern consumers expect consistency. They want products that taste good, meet appropriate standards and remain reasonably priced. For everyday categories such as milk powder and chocolate beverages, earning a regular place in the household also depends on something less tangible: trust. Ritelac has therefore positioned its business around making quality nutrition more accessible while maintaining regulatory compliance, product consistency and supply reliability. Behind the consumer-facing products is another equally important audience — retailers, wholesalers and distributors. A product can only become part of everyday life if people can actually find it. That makes distribution a critical part of the company’s strategy. Ritelac has been expanding its retail footprint and strengthening partnerships that allow its products to reach consumers across Malaysia. But expansion creates its own pressure. More customers, more outlets and greater volumes mean more complicated inventory planning, supply chain management, compliance requirements and expectations. What can be controlled through direct oversight in a smaller operation becomes considerably harder as a business scales. Ritelac has responded by putting greater emphasis on systems, defined processes, data-driven decisions and accountability across the organisation. The shift is significant. Growth becomes less about how much a company can sell and more about whether the organisation behind those sales can keep up.   The Discipline to Say No Perhaps one of the more interesting elements of Ritelac’s strategy is what it chooses not to pursue. The company says it will not chase growth at the expense of quality or compete purely on price in a race to the bottom. Instead, opportunities are evaluated through a longer-term lens, from product development and pricing to partnerships and market expansion. That discipline may not be visible on a supermarket shelf, but Ritelac considers it one of its competitive strengths. The same thinking influenced a notable decision over the past 12 to 18 months: investing ahead of demand. Rather than waiting for expansion to stretch its operations before reacting, Ritelac allocated resources towards supply chain readiness, quality control and operational capabilities in parallel with growth. It meant accepting higher costs upfront before all the commercial returns had materialised. The logic was simple: growth should not move faster than the business supporting it. That philosophy is shaping what comes next. Ritelac wants to evolve from a growing Malaysian business into a recognised regional dairy and beverage brand. Doing so will require wider market reach, but internally it will also demand stronger leadership capabilities, more scalable systems, greater use of data and an organisation able to manage increasingly complex operations. It is an ambition built less around getting big quickly than getting the foundations right. Because in an increasingly crowded FMCG market, being affordable can get a product noticed. Being consistently good is what might get consumers to buy it again. And for Ritelac, that second purchase could matter far more than the first.

The Executives

AmanahRaya Appoints Mohd Iskandar Dzulkarnain As Group Managing Director

AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) Managing Director Datuk Mohd Iskandar Dzulkarnain Ramli will resign from his position effective Sept 1, 2026, following his appointment as Group Managing Director of Amanah Raya Berhad. AmanahRaya REIT said the 42-year-old had served as Managing Director of AmanahRaya-Kenedix REIT Manager Sdn Bhd (AKRM), the manager of AmanahRaya REIT, since March 2025, after previously holding the position of Acting Managing Director. Group Managing Director of AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) – Datuk Mohd Iskandar Dzulkarnain Ramli. Iskandar brings extensive experience spanning internal audit, risk management, corporate strategy and financial planning, having built a diverse career across multiple industries and organisations. He began his career in May 2008 as an Internal Audit Executive at Sapura Crest Petroleum Berhad, before moving into risk management roles at Kumpulan Perangsang Selangor Berhad and companies within the Khazanah Nasional Berhad group. In 2014, he joined Bina Darulaman Berhad, where he led the Group Corporate Planning and Enterprise Risk Management Department. He was subsequently promoted to Chief Operating Officer in 2018, before taking on the role of Chief Corporate Officer/Executive Vice President 1 – Strategy, Finance and Corporate Services in 2020, reflecting a steady progression through increasingly senior leadership positions. He also previously served as Group Chief Corporate Services Officer at Amanah Raya Berhad, giving him prior familiarity with the organisation ahead of his new appointment as its Group Managing Director. During his tenure at AKRM, Iskandar was involved in driving corporate initiatives, strengthening regulatory compliance and enhancing the REIT manager’s market positioning, with a particular focus on growth, operational performance and long-term sustainability, contributing meaningfully to the REIT’s overall direction and strategic development. Iskandar holds a Bachelor of Accounting from the International Islamic University Malaysia and is a Certified Chartered Financial Modelling Professional. He is also a member of the Malaysian Association of Risk and Insurance Management, rounding out a professional profile well suited to his expanded leadership responsibilities at Amanah Raya Berhad.

Investment & Market Trends

RedPlanet Signs Underwriting Deal For ACE Market Listing Transfer

RedPlanet Bhd has signed an underwriting agreement with UOB Kay Hian (M) Sdn Bhd (UOBKH) for its proposed initial public offering (IPO) and transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd. RedPlanet is an enterprise information and communication technology (ICT) solutions provider specialising in geospatial and intelligent rail solutions. According to its prospectus, the IPO comprises a public issue of 70.0 million new shares, along with an offer for sale of 10 million existing shares by way of private placement to selected investors. From left: Panjetty Kumaradevan Senthil Kumar, Non-Independent Executive Director and CEO, GIS Group of RedPlanet; Lian Wah Seng, Non-Independent Executive Director and Managing Director; David Lim, CEO of UOB Kay Hian; and Winston Loh, Director of Corporate Finance. Of the new shares on offer, 20.54 million will be allocated to the Malaysian public, while 19.71 million will be reserved for eligible directors, employees and other individuals who have contributed to the success of RedPlanet and its subsidiaries. The company added that 11.52 million shares will be offered by way of private placement to selected investors, while 18.22 million shares will be offered to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). “Pursuant to the underwriting agreement, UOBKH will underwrite 40.25 million issue shares of the company, comprising the shares made available for application by the Malaysian public and eligible persons,” the company said in a statement. Executive director and managing director Lian Wah Seng said the proposed IPO and transfer of listing are expected to enhance the company’s corporate profile, broaden investor participation and provide it with a stronger platform to pursue higher-value ICT projects, supporting its long-term growth strategy. Moving forward, RedPlanet intends to undertake more complex, higher-value ICT projects and expand its intelligent rail solutions offering to include central transmission system solutions. UOBKH is acting as the principal adviser, sponsor, underwriter and placement agent for RedPlanet.

Investment & Market Trends

VSTECS To Sell Stake In Isatec For RM49mil

Vstecs Bhd is proposing to dispose of its entire 40% stake in Isatec Sdn Bhd for RM48.75 million in cash, as the group seeks to monetise the investment and redeploy capital into its core businesses. The information and communications technology distributor said the proposed disposal, to Skyform Pte Ltd, a digital and artificial intelligence transformation services provider, is expected to be completed by the first quarter of 2027, subject to conditions outlined under the share purchase agreement. VSTECS Bhd CEO JH Soong. Upon completion of the transaction, Skyform will hold a 75% stake in Isatec, following its acquisition of Vstecs’ 40% interest, alongside an additional 35% stake to be acquired from Isatec’s management shareholders. Vstecs chief executive officer JH Soong said the proposed disposal would allow the group to crystallise the value it has built in Isatec over the past seven years, marking a significant milestone in the company’s investment journey. “Together with the dividends received from Isatec, we would have realised total cash returns of RM64.97 million, which is equivalent to approximately 3.46 times the original investment cost,” he said, underscoring the strong returns generated from the investment over its holding period. The proposed disposal reflects Vstecs’ broader strategy of actively managing its investment portfolio, allowing the group to unlock value from mature investments and channel the proceeds towards strengthening its core distribution and technology-related businesses going forward.

Energy & Technology

OGX Unit Named Distributor For Axtraction AI’s Enterprise Solutions

OGX Group Bhd said its wholly-owned subsidiary, OGX Networks Sdn Bhd, has been appointed the authorised distributor for Axtraction AI Sdn Bhd’s enterprise artificial intelligence platform-driven solutions in Malaysia. The company said the partnership covers the distribution of Axtraction AI’s core platform offerings, enabling organisations to analyse enterprise data, streamline operational processes, and support faster, more informed decision-making. The expansion into enterprise AI solutions is expected to strengthen OGX’s technology portfolio, complementing the company’s existing network, cybersecurity and enterprise data centre offerings. The addition of enterprise AI solutions is also expected to enhance OGX’s ability to support customers seeking greater workflow efficiency, improved operational visibility and more informed decision-making, as organisations continue to accelerate digital transformation and AI adoption initiatives. “We are pleased to partner with Axtraction AI as part of OGX’s continued efforts to strengthen our technology portfolio in line with evolving enterprise requirements. With organisations increasingly adopting enterprise-grade AI to improve workflows and decision-making, this partnership enhances our ability to support customers with practical AI capabilities built for complex operating environments,” said OGX executive director and managing director Tan Suan Loong.

News

MNRB Holdings Sets Up RM500mil Commercial Paper Programme

MNRB Holdings Bhd has established a commercial paper (CP) programme of up to RM500 million in nominal value to raise funds for its working capital, investments, capital expenditure and other corporate purposes. In a filing with Bursa Malaysia, the company said it had lodged the required information and relevant documents for the proposed CP programme with the Securities Commission Malaysia (SC) on Sept 1, 2026, under the Lodge and Launch Framework. The seven-year CP programme will allow MNRB Holdings to issue commercial papers from time to time, subject to a maximum nominal value of RM500 million throughout the duration of the programme. The first issuance of CPs is required to be made within 90 business days from the lodgement date, or such other period as may be prescribed by the SC, giving the company a defined timeline within which to begin utilising the facility. The CPs will carry tenures of between one and 12 months, provided that each issuance matures before the expiry of the overall CP programme, offering MNRB Holdings flexibility in how it structures its short-term borrowings under the facility. RAM Rating Services Bhd has assigned a short-term credit rating of P1 to the programme, reflecting a strong assessment of the company’s capacity to meet its short-term financial obligations. MNRB Holdings said proceeds from the CP issuances will be utilised for general working capital, strategic and/or general investments, capital expenditure, refinancing, other general corporate purposes, and/or expenses related to the CP programme itself, giving the group broad flexibility in how the funds raised will ultimately be deployed across its operations.

Investment & Market Trends

Oriental Kopi Expands Into Indonesia, Mauritius In Overseas Push

Oriental Kopi Holdings Bhd, whose share price has slid nearly 30% year-to-date, has announced its overseas expansion plans into Indonesia and Mauritius. The ACE Market-listed food and beverage chain operator said in a bourse filing that it will enter Indonesia through a joint venture with PT Era Boga Nusantara to develop and operate Oriental Kopi restaurants in the country. Its indirect wholly owned subsidiary, Oriental Coffee International Sdn Bhd, will invest US$480,000 (RM1.96 million) for a 40% stake, while its Indonesian partner will hold the remaining 60%. The joint venture company, PT Era Oriental Kopi, will focus on opening restaurants across Indonesia, prioritising Jakarta while excluding Medan and airport locations. The first outlet is scheduled to commence operations within a year of the agreement being signed. Oriental Kopi said the partnership will allow it to tap its Indonesian partner’s local market knowledge and business network. The investment will be funded through internal funds and/or bank borrowings. Separately, in Mauritius, the company said in another bourse filing that it has granted Coffee Time Ltd exclusive franchise rights to develop and operate Oriental Kopi restaurants on the island, marking its entry into the market through an asset-light expansion model. Under the six-year franchise agreement, Coffee Time will pay franchise fees and monthly royalties to Oriental Kopi for each restaurant it operates, with the first outlet required to commence business within 300 days of the agreement. Both transactions are not expected to have a material impact on Oriental Kopi’s earnings, net assets or gearing for the financial year ending Sept 30, 2026, although the company expects them to contribute positively to future earnings. Oriental Kopi’s share price has been on a downward trend since early January, roughly a year after its debut on Bursa Malaysia at an initial public offering price of 88 sen. The stock has fallen from its year-high of RM1.49 on Jan 19 to a low of 88 sen in mid-July. It closed at 99.5 sen on Thursday, valuing the group at RM1.99 billion — with approximately RM800 million in market capitalisation erased since the start of 2026.

Energy & Technology

CBH Engineering Wins RM60m Data Centre Contract In Johor

CBH Engineering Holding Bhd has secured a RM59.61 million work order for electrical infrastructure works at a data centre in Johor. Its unit, CBH Engineering Sdn Bhd (CBHESB), was awarded the contract by a private company on Wednesday, CBH said in a filing with Bursa Malaysia. The company did not identify the customer, citing a non-disclosure agreement. CBH, however, did share that the customer is principally involved in providing infrastructure for hosting and data processing services, offering some insight into the nature of the client despite the confidentiality surrounding the deal. The contract covers the design, supply and installation of electrical infrastructure for the data centre, including a high-voltage substation package and medium-voltage works, reflecting the technical scope and complexity typically associated with data centre electrical systems. The project is scheduled for completion by Sept 19, 2027, giving CBH just over a year to complete the works. CBH, which is principally involved in electrical wiring contracting and the supply of electrical items, said the contract is expected to contribute positively to its earnings and net assets per share over the course of the contract period, underscoring the financial significance of the win for the group. In a separate filing, CBH said its managing director, Cheah Boon Hwa, had disposed of 94 million indirect shares, representing a 4.998% stake in the company, estimated to be valued at RM76.14 million, through his investment vehicle Quay Holdings Sdn Bhd in a direct business transaction on Aug 20. Following the disposal, Cheah’s direct stake in the company remains unchanged at 0.058%, while his indirect equity stake now stands at 64%, reflecting a significant but still majority-controlling position within the group. Shares of CBH Engineering closed up three sen, or 3.4%, at 92.5 sen on Wednesday, giving the company a market capitalisation of RM1.74 billion.

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