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KUALA LUMPUR: CGS International Securities (“CGSI” or the “Company”) in collaboration with MBSB and OCBC, today at their curtain raiser for the inaugural ASEAN Business Forum 2025 (“ABF2025” or the “Forum”), shared key action points slated for intense discussion at the event on the 29 May 2025. ABF2025 will be held in conjunction with the 46th ASEAN Summit 2025 in Kuala Lumpur, and the ASEAN-GCC + China Summit 2025. A key highlight of the forum is the corporate engagement and business exchange session designed to drive real business collaboration between pre-screened and pre-selected matching parties from the top 25 corporations and investors across ASEAN and China. Themed “From Vision to Reality – ASEAN Partnerships Fuelling Sustainable Growth”, the forum is co-hosted with the Malaysian Investment Development Authority (MIDA) and ASEAN Business Advisory Council (ASEAN-BAC) Malaysia. It is expected to draw more than 500 attendees comprising over 200 foreign and local corporates, policymakers and corporate captains representing the region’s largest companies of over RM1 trillion in market capitalisation, council members of ASEAN BAC countries representing the company interests of their home nations, and fund managers with total funds under management of over RM 8 trillion. The gathering comes at a critical juncture, as affected countries are renegotiating trade terms with the United States, while exploring alternative strategies to sustain economic stability and growth. Present at the curtain raiser were CGSI’s strategic partners and supporters including Tan Sri Nazir Razak, Chairman of the ASEAN-BAC for Malaysia, Mr. Sivasuriyamoorthy Sundara Raja, MIDA Deputy Chief Executive Officer (Investment Promotion and Facilitation), Dato’ Azlan Shahrim, Group Chief Strategy Officer representing MBSB Berhad and Ms. Tan Ai Chin, Managing Director, Senior Banker & Head of Investment Banking of OCBC Malaysia – both trusted banking partners committed to growing ASEAN financial ecosystems and supporting sustainable investment flows. Mr. Sivasuriyamoorthy Sundara Raja, MIDA Deputy CEO (Investment Promotion and Facilitation) shared, “We commend CGS International Securities for hosting the ASEAN Business Forum 2025 — a timely effort that speaks to the region’s shared aspiration for sustainable and inclusive prosperity, amidst geopolitical and challenging global economic landscape. At MIDA, we are committed to partnerships that go beyond transactions, that shape long-term value for Malaysia and uplift business communities. This forum bodes well with the statement of intent by ASEAN — to lead with shared purpose, unity, and economic vision. As the Malaysian government’s principal promotion agency, MIDA stands ready to facilitate investments that strengthen regional supply chain integration and elevate ASEAN on the global stage.” YBhg. Tan Sri Nazir Razak, Chairman of the ASEAN-BAC for Malaysia added, “Now, more than ever, ASEAN needs to strengthen bilateral ties and stay united. We need to be deliberate and realistic, taking concerted efforts to optimise intra-ASEAN trade and investments. Amongst our 12 priorities, initiatives such as the ASEAN Business Entity (ABE) directly facilitate this by enabling operational flexibility to ASEAN-based companies to move business, capital, and talent, which will in turn allow emerging businesses and markets to flourish.” In her opening presentation, Puan Azizah Mohd Yatim, CEO of CGS Malaysia said, “This forum marks a major milestone in our ongoing efforts to attract more investment and trade to the region by leveraging the CGSI Group’s China parentage. Malaysia’s Chairmanship of ASEAN is happening at this unique time where the world economy is shifting. Together with our fellow ASEAN members, we have a golden opportunity co-ordinate and re-establish deeper, stronger intra-ASEAN, ASEAN+3 and global ties. Through CGSI’s ASEAN network and parentage, we can connect and support the capital needs of businesses in the region and help investors navigate cross-border investments confidently. To date, we have organised and facilitated B2B and B2G engagements for companies and policymakers with China and look forward to organising many more.” On behalf of MBSB group, its Chief Strategy Officer Dato’ Azlan Shahrim highlighted, “Our active participation in the ASEAN Business Forum reflects our commitment to catalysing deeper collaboration across the region. At MBSB Group, we are committed to advancing Malaysia’s regional and global ambitions through our unique combination of MBSB Bank’s banking solutions and MIDF’s development finance expertise. With focus on high-impact sectors such as renewable energy, electrical and electronics, aerospace, agri-foods, and halal, we provide bespoke services that empower businesses and SMEs to grow strategically across ASEAN and beyond. Through our investment banking services, Shariah advisory expertise, and commitment to sustainability, we are helping companies raise capital and scale, in line with the region’s evolving economic landscape.” Ms Tan Ai Chin, Managing Director, Senior Banker & Head of Investment Banking of OCBC Malaysia, concluded, ““At OCBC, we believe ASEAN’s strength lies in its connectivity — the seamless integration of markets, talent, and capital, underpinned by sustainable growth. Our participation in ABF2025 underscores our commitment to facilitate cross-border economic collaboration. Through OCBC Group’s integrated global network – spanning corporate & investment banking, private banking, asset management and insurance – we empower businesses to unlock growth opportunities that transcend borders. With our deep-rooted presence in ASEAN and Greater China, OCBC is uniquely positioned to deliver tailored sustainable and Islamic financial solutions as well as bespoke M&A advisory to facilitate trade and investment flows. Together, we are bridging economies while building a resilient, net-zero future for ASEAN.” The full-day forum will feature more than 20 speakers and panellists for discussions as well as closed- door meetings between investors and policy makers, all focused on addressing challenges and catalysing opportunities for high-value deals and strategic partnerships for regional economic growth. Several memoranda of understanding (MOUs) will be announced during the Forum on 29 May, signalling long-term collaboration in strategic growth sectors such as healthcare, investments, single family office, and trade.

KUALA LUMPUR : Kuala Lumpur Kepong Bhd (KLK) is anticipated to deliver stronger net profit in the second half of the financial year ending 30 September 2025 (2HFY25), with the absence of derivatives-related losses expected to bolster earnings performance, according to CIMB Securities Research. The research house noted that although KLK has revised its full-year fresh fruit bunch (FFB) production guidance to reflect mid-single-digit growth, it maintains a positive outlook for the second half, supported by improved production levels. CIMB Securities highlighted that this implies production in 2HFY25 could contribute approximately 52 per cent of total annual output, sustaining earnings momentum. However, the impact of this uplift is likely to be partially offset by the current decline in crude palm oil (CPO) prices. KLK recorded a 2.5 per cent year-on-year decrease in ex-mill CPO production costs to RM2,100 per tonne in the first half of FY25 (1HFY25), mainly due to lower fertiliser prices. Despite this, the firm continues to face headwinds in several areas. Refining margins are expected to remain weak, its glove division remains in the red, and gas supply disruptions have adversely affected operational efficiency at its oleochemical facilities during the third quarter of FY25. KLK disclosed that the RM252 million in derivatives losses reported in 1HFY25 were largely unrealised, with approximately RM143 million related to US dollar hedging activities. CIMB Securities has maintained its ‘Hold’ rating on KLK, with an unchanged target price of RM21.50. -Business Times

KUALA LUMPUR: Titijaya Land Berhad is further expanding its presence in East Malaysia through the proposed acquisition of two strategically located property assets in Kota Kinabalu, Sabah, with a combined value of RM105 million. The urban lifestyle property developer stated that both assets are situated adjacent to Universiti Malaysia Sabah (UMS) and the soon-to-be-completed Hospital UMS. The prime location offers excellent accessibility and is expected to experience strong demand for both student and residential accommodation. According to a corporate statement, the acquisitions are expected to be finalised within the next nine months. The larger of the two acquisitions, valued at RM99 million, comprises a land parcel with completed foundation works and two 19-storey blocks of purpose-built student accommodation. The development includes 513 apartment-style units, designed to accommodate up to 3,078 students. Titijaya plans to operate the completed buildings while continuing the remaining project works to meet the increasing demand for housing in the area. A sale and purchase agreement has been signed with Yayasan Universiti Malaysia Sabah, Bay Precinct Sdn Bhd, and one of its directors, Lok Yee Hsun. The second asset, acquired for RM6 million, includes a land parcel with an existing building structure initially intended for the Bangunan Koperasi UMS project. The original plan featured a 14-storey apartment building with 476 units, a retail section comprising 38 shop lots, and a three-storey car park podium. However, the project was never completed. Titijaya now plans to revive and redevelop the site into new residential offerings. Group Managing Director Datuk Lim Poh Yit noted that Titijaya already maintains a presence in Sabah through projects such as The Shore, a luxury mixed-use development, and the Citadines Waterfront Kota Kinabalu hotel, which is managed by Ascott. He added that the location of the newly acquired assets, offering direct connectivity to UMS and the future Hospital UMS, makes the area one of high strategic value in Kota Kinabalu. “This move supports our broader growth strategy to diversify both revenue streams and customer base while strengthening our footprint beyond the Klang Valley. We believe these assets position us to tap into growing demand for residential accommodation in the area and enhance our recurring income contribution,” Lim said. -Business Times

KUALA LUMPUR: Bursa Malaysia Securities Bhd has issued a public reprimand against Jerasia Capital Bhd (in liquidation) and fined three of its directors a total of RM50,000 for failing to make a timely announcement regarding a winding-up order. The exchange stated that Jerasia breached the Main Market Listing Requirements (Main LR) by not immediately disclosing the winding-up order dated 29 March 2023, which was obtained by AmBank (M) Bhd. The announcement was only made on 12 April 2023—ten market days later—with further information released on 13 April 2023, as required by Bursa Malaysia. Despite Jerasia being de-listed from the official list of Bursa Malaysia on 24 August 2023, the breach was committed while it was still listed, the exchange said. Fines were levied against the group’s managing director Pronob Kumar Sen Gupta (RM25,000), non-independent non-executive director Datuk Dr Yong Yuan Tan (RM12,500), and independent non-executive director and audit committee chairman Arnold Kwan Poon Keong (RM12,500). The exchange noted that the finding of breach and the imposition of penalties were made under paragraph 16.19 of the Main LR, following due process and after taking into account the materiality and impact of the breach, as well as the directors’ roles, responsibilities, knowledge, and conduct. Bursa Malaysia underscored the seriousness of the matter, stating that the obligation to immediately disclose a winding-up order—which could affect shareholder interests and trigger de-listing under paragraph 16.11(2)(d)(ii) of the Main LR—was critical to ensuring informed investment decisions. -Bernama

FGV Holdings Bhd (FGV) has received an unconditional voluntary takeover offer from the Federal Land Development Authority (Felda), aimed at acquiring all remaining shares in the plantation and agribusiness company not already under its control. According to a notice issued by Maybank Investment Bank Bhd on behalf of Felda, the offer proposes a cash consideration of RM1.30 per share for all outstanding ordinary shares of FGV. As of 20 May 2025, FGV’s total issued share capital stood at RM7.02 billion, comprising 3.64 billion ordinary shares and one special share held by the Minister of Finance Incorporated (MOF Inc). Felda currently owns 69.50% of FGV, amounting to 2.53 billion shares. With this new offer, Felda and its parties acting in concert (PACs) would collectively control 86.93% of the company. The PACs involved include: Felda Asset Holdings Company Sdn Bhd, a wholly-owned subsidiary of Felda; The Pahang state government; Koperasi Kakitangan Felda Malaysia Bhd, whose board comprises Felda management; Sulong Jamil Shariff and Salina Samsudin. The offer will be formalised through an offer document detailing the terms, conditions, and acceptance procedures. This document will be dispatched to shareholders once the Securities Commission (SC) confirms it has no further comments on its contents. The move signals Felda’s continued strategic effort to consolidate control of FGV, following previous initiatives to strengthen its position in the company. The offer will remain open for acceptance for a minimum of 21 days from the date the document is posted. Felda reserves the right to extend the offer period, with any changes to the closing date to be announced by Maybank Investment Bank at least two days in advance. Should Felda decide to withdraw the offer, it may only do so with written consent from the SC, in which case all obligations under the offer would be nullified.–FMT