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KUALA LUMPUR, Gradiant, a global provider of advanced water and wastewater treatment solutions, has secured a US$50 million corporate credit facility from HSBC, bringing its total credit lines to more than US$100 million. (US$1 = RM4.21) The new financing underscores Gradiant’s financial strength and supports the company’s continued expansion of sustainable water solutions across its global markets. Gradiant co-founder and chief executive officer Anurag Bajpayee said the funding reflects the company’s financial maturity and the confidence that global lenders have in its performance and profitability. “Working with HSBC enhances our ability to deliver mission-critical water solutions to our industrial customers,” he said in a statement. Meanwhile, Gradiant’s chief financial officer Ananth Padmanabhan said the additional financing would strengthen the company’s balance sheet and liquidity as it expands project delivery worldwide. Structured as a corporate revolving credit facility, the HSBC line will support Gradiant’s working capital needs in the United States, providing flexible, on-demand liquidity to execute projects for its blue-chip North American customers. The company said its credit facilities were secured at single-digit interest rates, demonstrating a strong credit profile and robust support from institutional investors. Gradiant also sources financing directly from lending partners rather than through intermediaries, ensuring alignment between its financial strategy and long-term mission. With operations in over 90 countries, Gradiant plans to use the HSBC facility primarily to bolster its U.S. projects, while other credit lines will fund global expansion, particularly in the Indo-Pacific and Middle East regions. The financing marks another milestone in Gradiant’s growth trajectory as it continues to deliver innovative, sustainable water and wastewater solutions to industries worldwide.

Shopee has rolled out a RM50 million “Shopee Rai Lokal” MSME growth package to strengthen support for Malaysian micro, small, and medium enterprises (MSMEs) and help them thrive in the country’s rapidly expanding digital economy. The initiative is designed to empower local entrepreneurs with comprehensive digital tools, training programmes, and incentives to build sustainable online businesses while expanding access to both domestic and international markets. “The Domestic Trade and Cost of Living Ministry welcomes Shopee’s commitment through the RM50mil Shopee Rai Lokal MSME growth package, which aligns with the Government’s aspiration under Budget 2026 that allocates RM20mil for the Buy Malaysian Products initiative,” said Armizan. According to Shopee, the initiative reflects its long-term commitment to supporting local sellers in growing resilient businesses and contributing to Malaysia’s economic transformation. Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali welcomed the initiative, describing it as a timely contribution that aligns with the Government’s “Buy Malaysian Products” campaign and its broader efforts to uplift local entrepreneurs. “The RM50 million Shopee Rai Lokal MSME growth package is in line with the Government’s aspiration under Budget 2026, which allocates RM20 million for the Buy Malaysian Products initiative. It also supports KPDN’s central theme for 2025, ‘Jom Beli Lokal’, and reinforces our shared determination to empower local entrepreneurs to stay competitive in the digital economy,” he said. Shopee Malaysia country director Saovanee Chan-Somchit said that as Shopee celebrates its 10th year in Malaysia, its mission remains focused on helping local MSMEs scale their businesses and reach wider audiences. “With this Shopee Rai Lokal growth package, we are deepening our commitment to helping sellers build resilient businesses, access the right digital tools, and grow sustainably online. We aim to walk alongside our local sellers as true partners in their long-term success,” she said. Under the RM50 million Shopee Rai Lokal MSME growth package, Shopee is offering support across several key areas — financial incentives, marketing tools, and capacity building. New sellers will benefit from commission fee waivers of up to RM2,000 and platform support fee exemptions. Shopee will also provide a complimentary six-month trial of its Fulfilled-by-Shopee (FBS) service, which includes warehousing support, faster delivery options such as same-day or next-day delivery, and free return-to-seller and storage services. In addition, sellers will receive RM60 in advertising credits to boost store visibility, while those using the GMV Max feature will have access to Shopee’s Return on Ad Spend (ROAS) Protection Programme — offering free ad credits if their campaigns do not achieve the expected performance. To help MSMEs strengthen their business capabilities, Shopee will expand access to the ShopeeXpert Community, providing personalised mentorship, expert guidance, and peer learning opportunities. Shopee University will continue offering targeted webinars and training sessions on store optimisation, digital marketing, and cross-border selling strategies. Beyond this package, Shopee continues to support local MSMEs through complementary initiatives such as the Shopee International Platform (SIP), which connects Malaysian sellers to regional markets in Singapore, Thailand, and the Philippines. Its SLoan for Sellers programme also provides flexible financing to help entrepreneurs invest in inventory, scale operations, and capture growth opportunities. These initiatives have already proven effective in helping small businesses achieve measurable success. Raymond Leong, founder of Hiasani — a DIY home essentials store — shared that Shopee’s integrated tools simplified everything from delivery logistics to advertising campaigns. “Once I learned how to optimise my storefront and marketing, my sales grew by 40%. The data dashboards gave me the confidence to scale my business,” he said. Similarly, chili farmer-turned-entrepreneur Mansur Remely credited Shopee for helping him turn his passion into a sustainable livelihood. “Shopee allowed me to reach customers far beyond my hometown. What started as a small business has now become my full-time venture,” he said. Through the Shopee Rai Lokal initiative, the company aims to continue building a more inclusive digital ecosystem, empowering Malaysian MSMEs to compete on both regional and global stages while fostering national pride in local products.

KUCHING, Singapore-based Health Management International Pte Ltd (HMI Medical) will establish a state-of-the-art smart specialist hospital, Regency Hospital Kuching, within The NorthBank township — a flagship mixed development by Ibraco Bhd. The proposed 300-bed hospital will feature comprehensive specialist and subspecialty services, advanced digital healthcare systems, and internationally benchmarked clinical standards, said HMI Medical group chief executive officer Chin Wei Jia. She said the project aims to meet rising demand for quality healthcare services in Sarawak and across Southeast Asia, while creating more than 1,000 new jobs and cross-training opportunities for healthcare professionals to enhance patient-centred care. With over 27 years of experience in healthcare operations across Singapore, Malaysia, Indonesia, and Vietnam, HMI Medical currently manages Mahkota Medical Centre in Melaka and Regency Specialist Hospital in Johor. Dr Richard Chew, senior surgeon and board director of HMI’s hospitals in Malaysia — and a Sarawakian — will lead the development of Regency Hospital Kuching, which is scheduled to open in 2029. “This initiative will drive new economic opportunities and strengthen Sarawak’s position as a leading medical tourism hub in Southeast Asia,” said Chin during the signing of a share sale agreement between Ibraco and Kuching Health Holdings Sdn Bhd, a wholly owned subsidiary of HMI Medical. Under the agreement, Ibraco will sell its 100% stake in NorthBank Specialist Hospital Sdn Bhd (NSHSB) to Kuching Health Holdings for RM900,000 cash. Sarawak Premier Tan Sri Abang Johari Tun Openg witnessed the signing during the Sarawak Mega Fair 2025 at Singapore’s Suntec Convention & Exhibition Centre last Thursday. In a Bursa Malaysia filing, Ibraco said the transaction was made on a “willing buyer, willing seller” basis, with no material gain or loss expected. NSHSB currently holds development approval for a private hospital project that has yet to commence operations. Ibraco said the disposal enables a reputable healthcare group to realise the hospital’s potential while enhancing Sarawak’s private healthcare landscape. “This collaboration supports the national agenda to expand high-quality private healthcare services and improve accessibility for the community,” it said. The hospital will be built on a 1.7ha leasehold site within The NorthBank, with land acquisition to be completed within six months.

KUCHING, Construction of the undersea power cable network to transmit renewable energy (RE) from Sarawak to Singapore is slated to begin by 2026 at the latest, according to Sarawak Premier Tan Sri Abang Johari Tun Openg. He said the Sarawak government, together with the federal and Singaporean governments, aims to commence the project next year once the current global shortage of submarine cables is resolved. “The Singapore and Sarawak governments, with endorsement from the Malaysian government, have agreed that the construction of the undersea cable should begin no later than next year,” Abang Johari said after officiating the Sarawak Mega Fair 2025 at the Suntec Singapore Convention and Exhibition Centre last Thursday. He added that Indonesia has responded positively to the project, as the cable route will pass through Indonesian territorial waters. Singapore’s Energy Market Authority has granted conditional approval to Sembcorp Utilities and its consortium partner, Sarawak Energy Bhd, to import one gigawatt (GW) of hydropower from Sarawak. Abang Johari also revealed that a special cross-border energy corridor is being developed between Malaysia, Singapore and Indonesia to facilitate the export of green electricity to Singapore. “There is already an agreement in principle for Sarawak to supply clean energy through this dedicated corridor,” he said.Hydropower currently accounts for more than 60% of Sarawak’s total energy generation capacity. Sarawak Energy owns and operates the Bakun (2,400MW), Murum (944MW) and Batang Ai (108MW) hydroelectric dams, with the 1,285MW Baleh dam currently under construction. To attract more foreign investment, particularly in renewable and sustainable industries, Abang Johari said Sarawak offers incentives equivalent to those from the Malaysian Investment Development Authority (MIDA), along with additional state-level benefits such as larger land allocations, lower premiums and competitive energy tariffs. “At present, Sarawak has the lowest industrial energy tariff in Malaysia,” he noted, adding that the state’s political and administrative stability continues to bolster investor confidence. Abang Johari emphasised that companies leveraging Sarawak’s renewable energy in their manufacturing processes will gain a “green premium” — a market advantage as global demand for low-carbon and eco-friendly products continues to rise. “Investors who produce goods using our green energy will find it easier to market their products, as they are aligned with global sustainability standards,” he said. He also announced that the soon-to-be-launched state-owned airline, AirBorneo, will enhance flight connectivity between Sarawak and Singapore, boosting both tourism and trade opportunities.

KUALA LUMPUR, AirAsia X Bhd is set to expand its fleet with smaller, more efficient aircraft as part of its medium-haul growth strategy, with deliveries of new Airbus models expected in the second half of 2026 (2H2026). Chief executive officer Benyamin Ismail said the airline will take delivery of the Airbus A321neo and A321LR aircraft, which are designed for routes lasting between five and seven hours — ideal for expanding connectivity within the Asia-Pacific region. “These aircraft will allow us to explore new destinations such as Busan in South Korea, Adelaide and Darwin in Australia, as well as several secondary cities in China,” he said during a media trip for the airline’s inaugural flight to Tashkent, Uzbekistan. The carrier launched its first service to Tashkent on Oct 15, offering three weekly flights between Malaysia and Uzbekistan’s capital. This marks AirAsia X’s second route to Central Asia, following the launch of flights to Almaty, Kazakhstan, in March 2024. Benyamin added that the airline is also focused on increasing flight frequencies across its existing destinations, driven by continued strong demand. “In Australia, we’re working on offering more consistent flight schedules, while China has rebounded strongly, so we’re ramping up capacity there,” he said, noting that demand for Japan and South Korea also remains solid. He said AirAsia X’s recent operational performance has been encouraging, with the airline maintaining a healthy average load factor of 84%, reflecting a strong post-pandemic recovery.

KUALA LUMPUR, Sum Technology Bhd, an engineering solutions provider for controlled and technical environments, plans to raise funds through an ACE Market listing to expand its Malaysian operations and establish a new office in the Philippines, its largest overseas market. According to its draft prospectus filed with Bursa Malaysia, proceeds from the proposed public issue of 117 million shares will also go toward strengthening design and development capabilities, enhancing competitiveness, and meeting working capital needs. Sum Technology offers design-and-build solutions for cleanrooms, controlled environments, and mechanical, electrical, process utilities, and firefighting (MEPF) systems. It also manufactures and trades air handling units (AHUs) and solar photovoltaic panels. The company operates across Malaysia, the Philippines, Taiwan, Indonesia, Singapore, Australia, Bangladesh, and India. Malaysia contributed 68.59% (RM35 million) of its FY2024 revenue, while the Philippines accounted for 19.48% (RM10 million). For the financial year ended Dec 31, 2024 (FY2024), Sum Technology reported a net profit of RM5.39 million on revenue of RM51.35 million, with a profit margin of 10.5%, up from 5.8% in FY2023. As of Aug 31, 2025, its order book stood at RM36.85 million. The new issuance represents 26% of the company’s enlarged share capital, with pricing to be determined later. Of the 117 million shares, 22.5 million will be offered to the Malaysian public, 4.5 million to eligible individuals, 33.75 million to selected investors, and 56.25 million to Bumiputera investors approved by the Investment, Trade and Industry Ministry — both via private placements. Malacca Securities has been appointed as the principal adviser, sponsor, underwriter, and placement agent for the IPO.

KUALA LUMPUR, Cosmos Technology International Bhd announced that Singapore-listed MSM International Ltd has ceased to be a substantial shareholder after selling 5.13 million shares to the company’s managing director, Datuk Chong Toh Wee. The shares were sold for RM2.02 million, or 39.43 sen each — a 12.67% premium over Cosmos Technology’s last closing price of 35 sen. Following the transaction, Chong’s shareholding rose from 38.87% to 40.87%. After the sale, MSM International holds 10.26 million shares, representing a 4% stake in Cosmos Technology. In a separate filing, MSM International said it plans to sell another 5.13 million shares to Datuk Foong Wei Kuong, the group managing director of JF Technology Bhd, who currently owns 17.95% of Cosmos Technology. Upon completion, MSM International’s stake will drop further to around 2%. MSM International once owned 27% of Cosmos Technology but began reducing its holdings in late 2024. In November that year, it announced the sale of a 21% stake, completed in January 2025 for RM21.24 million at 39.4 sen per share. MSM International is an integrated metal engineering company involved in OEM manufacturing, kitchen appliances, cleanroom systems, and laboratory equipment, while Cosmos Technology focuses on fluid control equipment manufacturing and services. For the first quarter ended July 31, 2025, Cosmos Technology recorded a net profit of RM403,000, slightly down from RM422,000 a year earlier, while revenue rose to RM4.44 million from RM4.31 million. Cosmos Technology’s shares closed unchanged at 35 sen on Wednesday, valuing the company at RM89.78 million.

PETALING JAYA, The Ministry of Energy Transition and Water Transformation (Petra) is streamlining its processes to cut red tape and speed up the rollout of renewable energy (RE) projects awarded through competitive bidding. Deputy Prime Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof said the move aims to support Malaysia’s energy transition goals under the National Energy Transition Roadmap (NETR). He noted that while technology remains central to developing green energy, system reliability and fuel diversity are also key factors to consider as electricity demand continues to rise. “To meet growing demand, Malaysia must address these challenges effectively. The government will continue to maintain competitiveness in the bidding process while encouraging innovation from investors,” Fadillah said in his speech at Malakoff Corporation Bhd’s  50th anniversary celebration on Wednesday night. Under the NETR, Malaysia targets an RE capacity mix of 41% by 2035 and 70% by 2050. Fadillah said Petra continues to play an active role as a facilitator, coordinator and driver of the nation’s energy transition. Among the ministry’s efforts, he highlighted the launch of the Large-Scale Solar (LSS) 5+ programme in January, which offers a record 2,000 megawatts of new solar capacity. Petra is also promoting clean energy access through the Corporate Green Power Programme (CGPP) and the Corporate RE Supply Scheme (CRESS), he added. “These initiatives will help boost renewable energy capacity, enhance market confidence and attract more private investment,” said Fadillah. Also present were Malakoff chairman Tan Sri Che Khalib Mohamad Noh, group CEO Syahrunizam Samsudin and Bernama CEO Datin Paduka Nur-ul Afida Kamaludin.

KUALA LUMPUR, NexG Bhd has clinched its third government contract since late August, following an announcement that the group secured an 18-month extension from the Immigration Department for the continued supply of foreign worker cards. The extension, effective from Nov 1, 2025 to April 30, 2027, builds on the original RM140 million contract awarded on Nov 1, 2022 for 36 months. NexG said the renewal will not be subject to the sales and service tax. This marks the company’s third major public-sector contract in under two months. On Aug 29, its wholly-owned unit Datasonic Technologies Sdn Bhd (DTSB) was awarded a six-year RM1.73 billion contract by the Ministry of Home Affairs to supply Malaysian passports from June 1, 2026 to May 31, 2032. Two weeks later, NexG announced another six-year deal worth RM732.72 million from the same ministry to supply national identity cards — including MyKad and MyTentera — for the same contract period. The passport and MyKad contracts came shortly after the group’s share price plunged nearly one-third following its acquisition of a 32.61% stake in Classita Holdings Bhd, now renamed NexG Bina Bhd. Board shake-up continuesAlongside its contract wins, NexG reported a series of board resignations. Independent directors Datuk Seri Mohd Sopiyan Mohd Rashdi and Datuk Zainal Abidin Abu Hassan stepped down to pursue other interests. Mohd Sopiyan, appointed just a month ago, has extensive experience in financial institutions, while Zainal Abidin previously served as secretary general at the Ministry of Science, Technology and Innovation and the Ministry of Housing and Local Government. Their departures follow the exit of former executive deputy chairman Tan Sri Mohd Khairul Adib Abd Rahman and executive director Datuk Puvanesan Subenthiran on Oct 14. Following the changes, NexG’s board now comprises chairman and CEO Datuk Hanifah Noordin, who holds a 9.28% stake, executive directors Datuk Ab Hamid Mohamad Hanipah and Erna Ismail, and independent directors Datuk Ibrahim Abdullah and Datuk Che Nazli Jaapar. NexG’s shares closed one sen or 2.2% lower at 45 sen on Wednesday, valuing the group at RM1.67 billion. The stock has more than doubled from its April low of 22 sen.

PETALING JAYA, GameOn Theme Park has teamed up with CapitaLand Malaysia and Eco World Development Group Bhd (KL:ECOWLD) to open a series of new family entertainment centres at the developers’ projects across the Klang Valley. At a joint tenancy signing ceremony held on Sunday at the NextGen Theme Park, 1 Utama Shopping Centre, GameOn announced plans to open its flagship outlet at CapitaLand’s The Mines Shopping Mall in Seri Kembangan this November. (From left) Eco World Development Group Bhd executive director and deputy CEO Liew Tian Xiong, GameOn founder and CEO Leroy Lee, The Malaysia Book of Records chief operating officer Jwan Heah, and CapitaLand Investment (Malaysia) general manager (mall management) Alicia Yuen at the joint tenancy signing ceremony on Sunday.   Spanning over 70,000 sq ft, the flagship centre will feature more than 30 attractions, including a ninja obstacle course, water play zone, creative playland, art zones, sports hubs, karaoke rooms, and gaming arenas. Following that, GameOn will introduce a new “Kidpreneur” concept at EcoWorld’s The Labs in Bukit Bintang City Centre, scheduled to open in March 2026. The 32,000-sq-ft space will provide hands-on, role-play experiences to help children explore real-world careers and learn money management through creative play. At the same event, GameOn was recognised by the Malaysia Book of Records as the fastest-growing entertainment centre in Malaysia, earning the title for launching the most edutainment centres in a year — eight outlets in just 18 months. “Partnering with two of Malaysia’s leading developers and receiving this recognition marks a major milestone for us,” said GameOn founder and CEO Leroy Lee. “Our goal is to make world-class family entertainment accessible, affordable, and inclusive, and these partnerships bring us closer to that vision.” Lee added that GameOn aims to open eight to ten new outlets nationwide over the next two years, covering a total of about 500,000 sq ft of space.