Investment & Market Trends

Southeast Asian ride-hailing and food delivery giant Grab Holdings is acquiring U.S.-based digital investment platform Stash Financial, expanding its financial services business as the superapp achieves its first full-year profit. Under the cash-and-stock agreement, Grab will purchase Stash in two stages. It will initially acquire a 50.1% stake based on an enterprise valuation of $425 million. The remaining shares will be acquired over the next three years at fair market value. The transaction is expected to close in the third quarter, subject to regulatory approvals and customary conditions. Stash manages approximately $5 billion in assets and serves more than one million paying subscribers through its AI-powered investment platform. The acquisition strengthens Grab’s growing fintech ecosystem, which already includes payments, lending and digital banking services built around its core ride-hailing and food delivery operations. Grab said Stash is cash-flow positive and is projected to generate more than $60 million in adjusted EBITDA by 2028. “This marks an important milestone in Grab’s evolution as a trusted international financial services provider,” said Grab co-founder and CEO Anthony Tan. He added that the acquisition not only brings recurring, high-margin subscription revenue but also enhances Grab’s broader fintech capabilities. The announcement comes as Grab reported a net profit of $200 million for 2025 — its first annual profit — compared with a net loss of $158 million the previous year. Full-year revenue rose 20% to $3.4 billion.

Maxland Bhd has proposed a rights issue aimed at raising up to RM32.07 million to fund maintenance of its timber camp infrastructure, tree replanting and plantation improvement works, as well as general working capital. The proposed issuance will involve up to 2.405 billion new rights shares, offered at two sen each, on a one-for-one basis for existing shareholders, according to a filing with Bursa Malaysia. Maxland Bhd has proposed to offer 2.405 billion rights shares at two sen each on the basis of one new share for every one existing share held. The two-sen issue price represents a 16.32% to 32.2% discount compared with Maxland’s five-day to 12-month volume-weighted average market price of 2.78 sen to 3.9 sen as of Feb 11. Non-independent and non-executive chairman Datuk Abd Aziz Haji Sheikh Fadzir has committed to fully subscribe to his entitlement of 17.7 million rights shares, with an additional undertaking for up to 110 million shares if required. Assuming full subscription and no exercise of the company’s 801.81 million outstanding warrants B, Maxland expects to raise RM32.07 million from the issuance of approximately 1.6 billion rights shares. Proceeds will be used to maintain timber camp infrastructure and processing plants, support tree plantations, cover working capital needs, and defray expenses related to the rights issue. Over the past five years, Maxland has conducted five equity fundraising exercises, including a RM6.78 million private placement and a RM51 million redeemable convertible note issuance in June 2021, a RM2.05 million private placement in December 2021, a RM13.64 million private placement in January 2023, and an RM11.37 million private placement in February 2024. The rights issue remains subject to shareholder approval at an extraordinary general meeting, with completion anticipated in the second quarter of 2026. Maxland is 19% owned by its 73-year-old managing director Datuk Lim Nyuk Sang. Shares in the company were untraded on Thursday, with the last transaction on Feb 9 at 3.5 sen, valuing the group at RM56.13 million.

Mercuria Energy Group Ltd has bought back the shares previously held by CNIC Corp, ending nearly a decade of minority ownership by a Chinese state-linked investor in one of the world’s largest commodity trading firms. According to documents, CNIC no longer holds any shares in Mercuria’s holding company. The firm’s billionaire co-founders, Marco Dunand and Daniel Jaeggi, have increased their combined stake to 68.21%, up from around 64% a year ago. The change in ownership comes at a time when global commodity supply chains have become increasingly politicised, particularly amid rising tensions between China and the United States. Markets ranging from oil to copper and soybeans have been affected, and major trading houses such as Mercuria are facing greater scrutiny as commodities take centre stage in geopolitical strategy. CNIC, a state-backed fund, acquired just under 5% of Mercuria in late 2022. The investment followed Mercuria’s earlier repurchase of a 12% stake from ChemChina, another Chinese state-linked company that had invested in 2016. Documents show that 4.99% of Mercuria’s shares are now classified as treasury shares. Dunand and Jaeggi have strengthened their control over the company in recent years, particularly after senior executive Magid Shenouda departed in 2024. Although Mercuria brought in three senior leaders as part of a management transition, one has since left the firm. The co-founders have been major beneficiaries of the commodity trading boom triggered by Russia’s invasion of Ukraine, with Mercuria paying out US$5.5 billion (RM21.54 billion) in dividends over the past three years. Mercuria, which began as a trader of Russian oil into Poland, has grown into one of the world’s leading commodity houses, with significant operations in gas, power and metals. The company is among three trading firms selected to help manage purchases for a US$12 billion US stockpile aimed at countering China’s dominance in critical metals supply chains. It is also reportedly seeking to trade Venezuelan oil under a US permit, following a recent licence expansion that excludes companies owned or controlled by Chinese shareholders. Mercuria traces its roots to J&S Group, founded by Gregory Jankilevitsch and Wiaczeslaw Smolokowski. The two founders, together with early investor and trader Vadim Linetskiy, now hold a combined 7.25% stake in the holding company, down from 11.2% in 2018. Employees collectively own 18.55% of the company through a share ownership plan, while Han Jin, Mercuria’s head of Asia, retains a 1% stake. A Mercuria spokesperson declined to comment. CNIC did not immediately respond to requests for comment.

Malaysian small and medium enterprises (SMEs) continue to grapple with manual invoicing, scattered financial records and disconnected business tools, even as regulatory timelines around e-invoicing evolve.  These ongoing operational gaps have led to the introduction of solutions like QuickIn, designed to centralise invoicing, sales tracking and financial management for SMEs. Built by a team with accounting and finance backgrounds, the platform is designed for immediate usability without the need for additional hardware or complex setup. According to its developers, SMEs often rely on tools that do not integrate well, resulting in duplicated work and inconsistent records. By consolidating invoices, payments and transaction histories, the system aims to streamline workflows and reduce administrative errors. “Many Malaysian SMEs are resilient and hardworking, but they’re often held back by manual processes and disconnected tools that were never designed for how they actually operate,” said Leon Wong, Co-founder and Financial Systems Architect of QuickIn. He said the platform was developed to provide a unified system to simplify invoicing and financial management while reducing daily operational friction. With QuickIn, businesses can issue invoices, enable self-billed invoicing, consolidate multiple transactions and manage everything through a single dashboard. Automatic updates keep financial records accurate, while paperless workflows help reduce administrative workload. The all-in-one e-invoicing solution platform also integrates seamlessly with existing systems, enabling SMEs to improve efficiency without operational disruption. By simplifying core financial processes, the system helps SMEs reduce reliance on manual work and adopt more structured operations, improve cash flow visibility, and support faster decision-making. QuickIn is among platforms entering the SME digital management space as businesses review internal systems amid evolving regulatory and operational demands. It offers an easy entry point. 

EC-Council, creator of the world-renowned Certified Ethical Hacker (CEH)credential and a global leader in applied cybersecurity education and training, today launched its Enterprise AI Credential Suite, introducing four new role-based AI certifications alongside Certified CISO v4, an overhauled executive cyber leadership program.   The dual launch marks the largest single expansion of EC-Council’s portfolio in its 25-year history, built for one clear reality: AI is scaling faster than the workforce trained to run, secure, and govern it.  Malaysia’s momentum is accelerating quickly. With the establishment of the National Artificial Intelligence Office (NAIO) launched in late 2024 to coordinate AI policy, innovation, and talent development, Malaysia has made its national direction clear: AI capability must move from ambition into execution across government and industry.  As AI shifts from pilots into daily operations, the demand is rising for structured, role-ready pathways that enable responsible adoption, stronger security, and clear governance at scale.  Malaysia’s AI push is also anchored in the country’s broader digital transformation agenda. Under the MyDIGITAL Blueprint , the digital economy already contributes more than 23% of national GDP, underscoring how central AI and advanced technologies are becoming to Malaysia’s competitiveness and growth.  In Malaysia, adoption is expanding rapidly across finance, manufacturing, services, and digital government initiatives. This creates immediate need for professionals who can use AI responsibly, manage AI programs with discipline, protect AI systems from emerging threats, and apply governance that stands up in real operational environments.  For many organizations, the constraint is no longer interest in AI. The constraint is building job-ready capability to deploy it safely, defend it, and maintain accountability as usage scales.  “Malaysia’s AI direction is clear and the next step is capability at scale,” said Jay Bavisi, Group President, EC-Council. “This portfolio is built to help professionals develop practical skills across adoption, defense, and governance, so organizations can scale AI with confidence and clear accountability.”  The Enterprise AI Credential Suite is structured to mirror how AI capability is developed in practice. Artificial Intelligence Essentials (AIE) serves as the baseline, building practical AI fluency and responsible usage across roles, and it is supported by EC-Council’s proprietary Adopt. Defend. Govern. (ADG) framework, which defines how AI should be operationalized at scale in real environments. Adopt: Prepare teams to deploy AI deliberately, with readiness and safeguards Defend: Secure AI systems against emerging risks, including prompt injection, data poisoning, model exploitation, and AI supply-chain compromise Govern: Embed accountability, oversight, and risk management into AI systems from the outset Within this structure, the four new certifications align directly to specific workforce needs across the AI lifecycle. Artificial Intelligence Essentials (AIE) builds foundational AI literacy.  Certified AI Program Manager (CAIPM) equips to translate AI strategy into execution, aligning teams, governance, and delivery to drive measurable ROI and enterprise-scale intelligence. Certified Offensive AI Security Professional (COASP) Builds elite capabilities to test vulnerabilities in LLMs, simulate exploits, and secure AI infrastructure hardening enterprises against emerging threats. Certified Responsible AI Governance & Ethics Professional (CRAGE) Focuses on Responsible AI, Governance and Ethics at enterprise scale with NIST/ISO compliance. Alongside the new AI certifications, Certified CISO v4 updates executive cyber leadership education for AI-driven risk environments, strengthening leadership readiness as intelligent systems become part of core business operations and security decision-making. “Security leaders are now accountable for systems that learn, adapt, and influence outcomes at speed,” Bavisi added. “Certified CISO v4 prepares leaders to manage AI-driven risk with clarity, strengthen governance, and make informed decisions when responsibility is on the line.” The portfolio also builds on EC-Council’s long-standing work with government and defense organizations, including its existing DoD 8140 baseline certification recognition, as AI security and workforce readiness take on greater national importance. To explore the full range of training and certification opportunities, visit the EC-Council AI Courses library.

Seedflex’s upcoming Series A fundraising is aimed at accelerating growth rather than addressing financial constraints, according to co-founder Ritwik Ghosh. “This is not about runway or survival. It’s about whether we can accelerate growth in Malaysia and other markets,” he said. The company last raised US$3.2 million in a seed extension round in May 2025, co-led by Z Venture Capital (ZVC) and Iterative, with participation from 500 Global and several strategic angel investors. Ghosh noted that existing investors have expressed strong interest in participating in the upcoming round, including one backer that increased its stake following the seed extension. He added that the fundraising comes amid a more stable and selective investment climate for fintech companies compared with late 2024. Investors, he said, are now prioritising “proven platforms, scale, positive unit economics, and a clear path to profitability.” Operationally, Seedflex has disbursed approximately RM100 million in Malaysia to date and is currently originating about RM20 million in financing per month. The company’s average financing tenure ranges between 1.5 and two months. Seedflex now serves more than 10,000 micro, small and medium enterprises (MSMEs), double its customer base six months ago. It maintains a non-performing loan (NPL) ratio of between 1% and 1.5%, supported by an automated repayment model that deducts payments directly from merchants’ future sales. The company has a team of 25 full-time employees and expects to achieve group-level profitability by the end of the second quarter of 2026. Regionally, Seedflex is expanding cautiously. In Indonesia, where it secured regulatory approval last year, the company is adopting a pilot-first and partner-led strategy. It is also exploring entry into a third market, positioning itself as a pure technology and risk management platform.

Singapore’s median monthly household income rose to S$12,446 (US$9,250) in 2025, up from S$11,558 the year before, representing a 6.8% increase after adjusting for inflation. After accounting for household size, median monthly household income per household member grew 7.5% in real terms to S$4,160, compared with S$3,837 in 2024, according to the Key Household Income Trends 2025 report released by the Singapore Department of Statistics (Singstat) on Monday (Feb 9). Prime Minister Lawrence Wong said real wages have risen across all income levels over the past decade, with wage growth outpacing inflation for many households. He added that income growth has been strongest among lower-income workers, exceeding gains seen by middle- and higher-income groups. From 2025, Singstat expanded its definition of household income to include “market income”, which covers income from both employment and non-employment sources. The revised data also includes households with no employed members. Singstat said the change reflects Singapore’s ageing population, as more households comprise individuals aged 65 and above who may rely on income from investments, rentals and annuities rather than work. The expanded coverage allows for a more comprehensive analysis of income trends. Non-employment income includes interest from savings and Central Provident Fund (CPF) balances, investment dividends, rental income, contributions from other households, and CPF or insurance payouts. Singstat noted that while most data is drawn from administrative sources such as CPF records, some income—particularly from investments or overseas assets—may be underreported as it relies on survey data. The Ministry of Finance said this was the first release of market income data, reflecting rising affluence and a growing retiree population. Some underestimation is expected, especially among higher-income households with non-employment income that is harder to track. Income growth across deciles Households across all income deciles recorded growth in average monthly household income per member over the past decade. After adjusting for inflation, the lowest income decile saw a 10.5% increase over the past five years, compared with a 1.4% increase for the highest decile. Singstat noted that some households in the lowest decile owned cars, employed domestic helpers, lived in private properties or had a household reference person aged 65 and above. Employment income remained the largest source of household income, though its share declined to 79.6% in 2025 from 81.1% in 2024. While households in the second to 10th deciles relied mainly on income from work, those in the lowest decile depended largely on non-employment income. For the lowest-income group, investment income—mainly interest from CPF balances—accounted for 40.9% of household income per member. Other income, largely from CPF payouts and the Lifelong Income for the Elderly (LIFE) scheme, made up 37%, while rental income contributed 3.2%. The remaining 19.2% came from employment. Transfers, taxes and inequality Households in the first to seventh income deciles received more in government transfers than they paid in taxes. In 2025, resident households received an average of S$7,300 per household member in government transfers, down from S$7,725 in 2024 due to the expiry of one-off support measures. Residents living in one- and two-room HDB flats received the highest support, averaging S$16,519 per household member. Prime Minister Wong, who is also Finance Minister, said lower-income households receive about S$7 in benefits for every dollar of tax paid, while middle-income households receive about S$2. The top 20% receive about S$0.20 per dollar of tax paid. Singapore’s Gini coefficient, a measure of income inequality, fell to a record low. Based on the new definition of household market income, the coefficient declined to 0.452 in 2025 from 0.460 in 2024. After accounting for government transfers and taxes, it fell further to 0.379, the lowest level since records began in 2015. MOF said the broader definition of income and household coverage affects the coefficient, but overall reflects a more comprehensive and accurate picture of income distribution in Singapore.

Agrobank has become the latest Malaysian bank to suffer a major online fraud case, with losses amounting to RM203.8 million. The case was disclosed by Home Minister Saifuddin Nasution Ismail in a parliamentary reply. He said the fraud was detected in November last year and led to the arrest of 47 individuals. Three suspects have been charged under Section 424C(1) of the Penal Code for offences involving mule accounts, while investigations into the remaining suspects are ongoing. Saifuddin said police are finalising investigation papers with assistance from CyberSecurity Malaysia and Bank Negara Malaysia. He added that no Agrobank customer accounts were affected. Agrobank is wholly owned by the Minister of Finance, with one share held by the Federal Commissioner of Lands, and operates under the supervision of the Ministry of Agriculture and Food Security. In November last year, Agrobank said it was reviewing an internal systems incident. Subsequent information indicated the case may have involved a coordinated attempt to siphon funds using hundreds of accounts.

The Group has surpassed USD 3 billion in cumulative loans issued. Meanwhile, the number of registered customers equaled 21.6 million as of the end of 2025. The achievement comes as digital lending gains scale worldwide. According to the research estimates, the global market exceeded USD 500 billion in 2025 and is projected to reach USD 985 billion by 2031. The Asia‑Pacific region accounted for 39.4% of global digital lending volume in 2025 and is expected to remain one of the main contributors to overall growth. UnaFinancial operates in the markets with large underbanked populations and mature digital infrastructure, including the Philippines, Uzbekistan, and Kazakhstan. Despite widespread Internet and smartphone access, formal borrowing remains limited in these countries. According to the Global Findex Database, only 12% of adults in the Philippines and Uzbekistan accessed formal loans in 2024, while Kazakhstan reported a higher but still modest 33%. “Reaching $3 billion in loans issued reflects the growing demand for accessible credit in underserved markets, “ said Sergey Sedov, Chief Executive Officer of UnaFinancial. “We remain focused on expanding financial inclusion, and our technology enables us to do this responsibly and at scale.” Apart from the high demand for borrowing, the Group attributes its growth to strong customer loyalty, disciplined risk management and a commitment to sustainable lending practices. Looking ahead, UnaFinancial plans to continue investing in technology and expand its product portfolio.

BateriHub has surpassed 200 branches nationwide, marking a significant scale milestone in Malaysia’s automotive aftermarket sector and positioning the company as the country’s largest direct-owned car battery retail network. The expansion milestone is supported by official recognition from ASEAN Records, which has awarded BateriHub the approved title and category: First and Largest Direct-Owned Car Battery Retailer by Branch Count and Floor Area (200 Branches Covering 340,875.68 sq ft). The recognition serves as validation of BateriHub’s operating scale and infrastructure footprint, rather than the sole focus of the announcement. The BaterniHub leadership receiving the ASEAN Records for First and Largest Direct-Owned Car Battery Retailer by Branch Count and Floor Area. “At this scale, growth is no longer about opening stores quickly; it’s about whether service quality holds when demand spikes or when customers are stranded outside major cities,” said Mr. Kok Wai Kit, Co-Founder & Managing Director, BateriHub. “Running a direct-owned network allows us to train people the same way, deploy technicians faster, and keep decision-making close to operations. Crossing 200 stores matters because it widens access to dependable help, not because of the number alone.” As of January 2026, BateriHub covers more than 500 service areas across 11 states, including Klang Valley and secondary regions such as Kedah, Terengganu, and Kelantan. This expanded footprint enables the company to support motorists not only in urban centres, but also in locations where access to timely roadside battery replacement has traditionally been more limited. The company operates 200 branches, employs over 460 staff, and has served more than 1.0 million customers to date. It has also recorded 70,000+ positive customer reviews across Google, Facebook, and e-commerce platforms. “Reaching 200 branches is not the result of one strategy or one team,” said Mr. Wong Wai Loong, Co-Founder & Managing Director, BateriHub. “It is the outcome of logistics, operations, technicians, customer service, and support teams all moving in the same direction over many years. The focus now is not just to grow bigger, but to grow better, in quality, sustainability, and people development.” BateriHub attributes its growth to three core factors. Its 100% direct-owned operating model allows the company to maintain consistent service quality, pricing, and brand standards across all branches. This is reinforced by sustained investment in people, systems, and training, ensuring teams operate with a uniform, customer-first mindset. Finally, a data-driven approach to site expansion and operational execution has enabled the business to scale quickly while remaining sustainable. Today, BateriHub supports customers through multiple service channels, walk-in replacement, roadside assistance, battery delivery, and jumpstart support, all routed through a central customer service and technician dispatch system. This structure enables consistent response standards across urban and secondary locations, particularly during breakdown scenarios where time and reliability are critical. Looking ahead, BateriHub is focused on strengthening its domestic footprint while laying the groundwork for regional growth. Locally, the company is planning to enter East Malaysia around Q3 2026, following strong interest from potential partners, bringing the BateriHub brand, systems, and standards to meet growing demand. Regionally, BateriHub has been studying the Singapore market since 2023, with broader ASEAN expansion forming part of its five-year strategic roadmap. “Scaling a retail network is not just about footprint, but about discipline,” said Mr. Stan Singh, Head of Media and Councillor, Malaysia Retail Chain Association (MRCA). “What stands out in BateriHub’s growth is its ability to maintain centralised control while expanding rapidly, which is often the hardest balance for multi-branch operators to achieve.” The ASEAN Records recognition was formally presented during BateriHub’s Annual Dinner on 29 January 2026 at JioSpace, Petaling Jaya, attended by approximately 420 guests.