News

Sunway Bhd is reportedly seeking a valuation of around RM16 billion for its healthcare arm, Sunway Healthcare Holdings Bhd (SHH), ahead of its planned listing on Bursa Malaysia. Sources say the valuation is based on about 55 times projected earnings for FY2026 and nearly 40 times FY2027 earnings. The IPO, expected in March, could be the largest in recent years, surpassing listings such as 99 Speed Mart and Farm Fresh. Sunway Healthcare Holdings operates five hospitals with a combined 1,662 licensed beds, led by its flagship Sunway Medical Centre in Subang Jaya, Selangor.  SHH may be priced at up to RM1.45 per share. The company could raise approximately RM834 million from new shares, while Sunway Group may raise up to RM730 million and Greenwood Capital about RM129 million from the sale of existing shares. However, some market observers consider the valuation high, especially as other listed healthcare groups are trading at lower multiples. IHH Healthcare is trading at around 35 times forward earnings, while KPJ Healthcare is at about 32 times. The Bursa Malaysia Healthcare Index was also the worst-performing index in 2025, declining more than 34% over the past year. Despite this, promoters are banking on SHH’s size and expansion plans. SHH operates five hospitals with 1,662 licensed beds, making it the largest private hospital group in Malaysia by bed count. Its flagship is Sunway Medical Centre in Subang Jaya, with other hospitals in Cheras, Penang, Damansara and Ipoh. It also runs related services such as fertility centres, ambulatory care, home care and senior living. The group plans to open new hospitals in Seremban, Iskandar Puteri and Putrajaya, plus a fertility centre in Kota Bharu. This expansion is expected to increase total bed capacity to over 3,400 by 2032. After the IPO, Sunway — via Sunway City — will retain about 69.5% stake in SHH, while Greenwood Capital will hold 7.5%. The IPO will involve up to 1.97 billion shares, representing about 17% of the enlarged share capital. In 2024, SHH recorded a net profit of RM298.85 million on revenue of RM1.85 billion. Part of the IPO proceeds will be used to repay Islamic bonds issued under a RM5 billion sukuk programme, of which RM1.3 billion has been raised so far. The remainder will go towards listing expenses. The IPO is being managed by several investment banks, including Maybank Investment Bank and AmInvestment Bank as joint principal advisers, alongside UBS, HSBC, Jefferies and others. While SHH has a strong growth story, market sentiment and its premium valuation could pose challenges to investor demand.

Heitech Padu Bhd has been hit with a RM5.05 million lawsuit by facilities management company Kayangan Cahaya Sdn Bhd over a contract dispute. Heitech Padu intends to defend the suit. In a filing with Bursa Malaysia, the company said the suit was filed at the Shah Alam High Court in relation to a building maintenance services agreement dated April 5, 2024, and related works. Heitech Padu said it disputes the claim and is reviewing the allegations with its legal advisers. The company intends to defend the suit. No further details on the claim were disclosed. The board said it is currently unable to determine the financial impact of the case and has not made any provisions, pending legal assessment and further developments. Shares of Heitech Padu closed two sen or 1.2% higher at RM1.69, giving the group a market capitalisation of RM275.44 million.

YTL AI Labs has named Fadrizul Hasani, Grab’s former first engineer and ex-CTO of GXBank, as its new Chief Solutions Officer. After 14 years in the Grab ecosystem, where he helped build the company into a regional platform, Fadrizul moves on from GXBank, which has appointed Nishant Sharma as its new CTO. At YTL AI Labs, he will lead the development of sovereign AI platforms and production systems tailored for Malaysia, working alongside the lab’s leadership team, including Chee Mun Foong, Benny L., Lou Yeoh, and Hann Yeoh, on projects with national-scale impact. The lab is closely linked to Malaysia’s digital banking sector through YTL’s stake in Ryt Bank, with CEO Chee Mun Foong having previously served as Ryt Bank’s Chief Product Officer. Fadrizul had previously signaled his move toward a “new chapter focused on building things that are genuinely Malaysian.”

KAF Digital Bank Bhd has named Suzaini Mukhtar as its new chief executive officer (CEO), effective Feb 1, 2026. Suzaini, who joined the bank as deputy CEO in late 2025, takes over from the founding leadership team as KAF Digital Bank enters its next growth phase. The bank said his nearly 30 years of experience in Islamic banking across Malaysia and the UAE will support the expansion of its digital-first, Shariah-compliant offerings. His expertise spans retail, wealth, and corporate banking, with a strong focus on digitisation, product innovation, and financial inclusion. Prior to joining KAF, Suzaini led deposit, payments, and financial inclusion initiatives at Bank Simpanan Nasional, overseeing sales, state performance, remittances, digital banking adoption, and business strategy. He has also held senior positions at Standard Chartered Saadiq, Emirates Islamic Bank in Dubai, HSBC Amanah, and Hong Leong Bank, earning recognition for excellence in banking.

Singapore’s Ministry of Health (MOH) announced that more than 1,000 general practitioner (GP) clinics will remain open from February 16 to 18 to provide medical care during the Chinese New Year period. The public can check clinic locations and operating hours for 1,095 clinics on the GPGoWhere website and are advised to make an appointment before visiting. MOH reminded people to seek care at the right facility based on the severity of their condition: minor ailments should be treated at GP or 24-hour clinics, while serious or life-threatening emergencies—such as chest pain, breathlessness, or uncontrolled bleeding—should go directly to hospital Accident & Emergency departments. The ministry also urged residents with minor conditions to avoid calling the 995 emergency hotline so that urgent help can reach those in critical need. For guidance on which medical facility to visit, the public can contact the NurseFirst helpline, available daily from 8am to 11pm at 6262 6262.

Pahang Aerospace City (PAC) today announced the appointment of Rajeeshwaran Moorthy as Board Advisor, a move that significantly strengthens PAC’s emergence as a globally credible, institutionally aligned space city and reinforces Malaysia’s positioning in the rapidly evolving global space economy. The appointment follows a series of landmark international developments achieved at Davos, in parallel with World Economic Forum, where PAC secured unprecedented validation on the global stage. These milestones were led and enabled by Rajeeshwaran Moorthy, whose international standing and institutional relationships were instrumental in advancing PAC’s global alignment. International Validation Led at Davos At Davos, PAC entered into a Letter of Intent (LOI) with the United Nations Office for Outer Space Affairs (UNOOSA), a significant step in aligning the project with international space governance frameworks and multilateral cooperation. In parallel, The Karman Project, one of the world’s most influential space leadership and policy platforms, signed a collaboration agreement with PAC, positioning the city as a future hub for space leadership, talent development, and policy dialogue. These achievements were made possible through Rajeeshwaran Moorthy’s direct engagement and leadership at Davos, leveraging his deep involvement across global space institutions and policy networks. A Chief Architect of Global Space Ecosystems Rajeeshwaran Moorthy is internationally recognized for his work at the intersection of space economy strategy, governance, and institutional architecture. His advisory portfolio spans some of the most influential organizations shaping the future of space, including: · Appointed Advisor to the United Nations Office for Outer Space Affairs (UNOOSA) (via MSRO) · Senior Advisor at The Karman Project, a premier global space leadership and policy platform · Advisor to Axiom Space, a leader in commercial space stations and orbital infrastructure · Strategic Advisor to the Maldives Space Research Organisation (MSRO) · Senior Advisor to ARCHE Company, a venture based space research and technology firm Collectively, these roles position Rajeeshwaran as a trusted global interlocutor between governments, multilateral institutions, and commercial space actors bringing rare credibility to PAC at a formative stage. Architecting a Globally Relevant Space City As Board Advisor, Rajeeshwaran will guide PAC’s strategic direction across space governance, international partnerships, policy alignment, and the integration of terrestrial infrastructure with orbital and space-enabled systems. His role places him at the centre of PAC’s long-term architecture, effectively shaping how the city interfaces with global space markets, institutions, and sovereign stakeholders. PAC is being developed not merely as an aerospace cluster, but as a fully integrated aerospace city, designed to support space commerce, advanced manufacturing, research, talent development, and international cooperation under globally recognized norms. CEO Perspective “The future of economic competitiveness will be increasingly defined by space through data, infrastructure, security, and innovation,” said Muhamad Nurazmi, Chief Executive Officer of Pahang Aerospace City. “Rajeeshwaran Moorthy brings an exceptional combination of global credibility, policy fluency, and strategic vision. His leadership was instrumental in securing PAC’s international validation at Davos, and his appointment reflects our commitment to building PAC as a space city of global consequence.” A Strategic Inflection Point for Malaysia Rajeeshwaran’s appointment is widely viewed as a strategic inflection point for PAC and for Malaysia’s broader role in the international space landscape. His ability to operate across sovereign, multilateral, and commercial domains positions PAC as a trusted platform for long-term engagement with governments, investors, and global institutions. “Building a space city is ultimately about governance, trust, and global relevance,” said Rajeeshwaran Moorthy. “Pahang Aerospace City has the opportunity to set a new benchmark for how space-enabled cities are conceived, governed, and integrated into the global economy.” Positioning PAC on the World Stage With this appointment, PAC advances its ambition to serve as Asia’s gateway to the global space economy, supporting high-value innovation, international cooperation, and sustainable growth. The city is designed to attract sovereign partners, global enterprises, and next-generation space leaders while aligning with national priorities and international best practices.

PRIMA Corporation Malaysia has named Brian Iskandar Zulkarim as its new Group CEO, effective Jan 1, 2026, succeeding Datuk Seri Mohd Nazri Md Shariff, who led the company since May 2020. Brian Iskandar brings extensive experience in property development and corporate leadership. He was previously CEO of Bandar Malaysia Sdn Bhd, overseeing the 196.27-hectare Bandar Malaysia project, including the master plan for mixed-use developments and strategic infrastructure valued at RM173 billion. He also served as Group CEO of Damansara Realty Bhd, managing projects such as Bandar Damansara Aliff in Johor and Bandar Damansara Kuantan in Pahang, and held senior roles at Malaysia Airports Holdings Bhd, including CEO of Urusan Teknologi Wawasan and General Manager of Transformation Management and Overseas Ventures. PRIMA chairman Datuk Azrulnizam Abdul Aziz said the appointment ensures leadership continuity and reflects the company’s focus on performance and strategic growth. He also thanked Datuk Seri Mohd Nazri for his contributions in strengthening PRIMA’s operations during his tenure.

NexG Bhd has appointed PKF PLT as its new auditor after its previous choice, SBY Partners PLT, declined the role. Baker Tilly Monteiro Heng PLT had resigned in January 2026, just four months into the job, citing major changes in the company’s board. NexG initially sought SBY Partners to replace Baker Tilly, but the appointment did not proceed by mutual consent. The board said PKF PLT was selected after assessing their independence, expertise, team, and fees, noting that a new auditor could bring fresh perspectives. PKF confirmed its consent to act as auditor on Feb 13, 2026. The changes come after significant board reshuffles late last year following major government contract wins, including the resignation of several directors such as executive deputy chairman Tan Sri Mohd Khairul Adib Abd Rahman and executive director Datuk Puvanesan Subenthiran. NexG also completed corporate exercises, including the RM76.78 million purchase of a 32.61% stake and 414.3 million Classita Holdings Bhd warrants at a steep 87.5% premium. Classita has since been rebranded as NexG Bina Bhd. Shares in NexG closed at 28.5 sen on Friday, down 0.5 sen or 1.7%, valuing the company at RM994.4 million.

The Social Security Organisation (PERKESO) reported a 28% increase in high-skilled job placements through its MYFutureJobs platform last year, with 32,887 positions filled in 2025 compared to 23,638 in 2024. Since 2020, MYFutureJobs has helped 1.4 million Malaysians secure employment, with Technical and Vocational Education and Training (TVET) graduates alone accounting for 92,896 placements in 2025. Human Resources Minister Datuk Seri R. Ramanan said the initiative focuses on high-value industries such as electrical, electronics, and green energy, offering better wages and improving quality of life. “MYFutureJobs goes beyond traditional job matching by using labour market data and advanced analytics to align job seekers’ skills with employer demand,” he added. The platform now averages 7.5 million monthly visits, connecting three million job seekers with over 100,000 employers nationwide. With 54 branches, 290 satellite centres, more than 600 staff, and partnerships with over 50 institutions, MYFutureJobs aims to reduce skills mismatches and provide effective career guidance for students and professionals alike.

DFCITY Group Bhd has removed three directors from its board following an extraordinary general meeting (EGM) held on Thursday. The directors removed, effective immediately, are non-independent non-executive director Datuk Dr Li Wei, executive director Zhang Dandan, and independent non-executive director Chong Yuen Shuen, according to a filing with Bursa Malaysia. The resolutions for their removal were passed by voting shareholders during the EGM. The EGM was convened at the request of three shareholders — Liew Lee Chin, Fong Yik Hon, and Marcus Tan Kok Wee — who collectively hold a 12.09% stake in DFCITY. Ahead of the EGM, Li and Zhang had filed an application at the High Court to block the meeting. The court dismissed the application, allowing the EGM to proceed as scheduled. The move comes amid an ongoing boardroom tussle at DFCITY. Substantial shareholder and managing director Low Kim Kiat, along with his spouse Liew Lee Chin, has been involved in a separate legal dispute with Li and Zhang concerning the validity of Kim Kiat’s redesignation from executive director to managing director in August 2025. The High Court dismissed that suit, which is now pending appeal at the Court of Appeal. On Aug 4, 2025, Liew ceased to be a substantial shareholder after Paddingtons Hospitality Sdn Bhd, owned by their son Low Yew Kuan, sold an 11.37% stake in the company. Kim Kiat also disposed of his 3.23% direct stake. On the same day, Samoa-based PWK Co Ltd emerged as a substantial shareholder with a 13.6% stake. Shares in DFCITY were untraded on Thursday. The stock was last traded on Feb 5 at 37 sen, giving the company a market capitalisation of RM42.24 million.