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KUALA LUMPUR, Bina Darulaman Bhd, the Kedah state government-linked developer, has appointed Che Abdul Khalid Md Din as its new group chief executive officer (CEO), effective Nov 1. He will take over from YM Raja Shahreen Raja Othman, whose contract concludes at the end of this month, the company announced in a filing with Bursa Malaysia on Monday. Che Abdul Khalid brings with him more than three decades of experience in the property development and construction sectors. He currently serves as chief operating officer (COO) of Kulim Technology Park Corp Sdn Bhd (KTPC) — a subsidiary of the Kedah State Development Corporation — a position he will vacate on Oct 31. During his tenure at KTPC, Che Abdul Khalid played a key role in attracting both foreign and domestic direct investments to Kulim Hi-Tech Park, which saw significant investment inflows of RM10.7 billion in 2022, RM20.1 billion in 2023, and RM32.4 billion in 2024. He also led the strategic planning and execution of all Build-and-Lease projects, overseeing the full cycle from design and contract negotiation to project completion and client handover. Prior to his COO appointment, he served as general manager at KTPC from April 2019. His earlier roles include general manager at Darulaman Realty Sdn Bhd (now BDB Land Sdn Bhd, a wholly-owned unit of Bina Darulaman) and Kedah Holdings Sdn Bhd between 2006 and 2008. Che Abdul Khalid also sits on the board of KSDC Insurance Brokers Sdn Bhd, a fully-owned subsidiary of the Kedah State Development Corporation, a position he has held since August 2023. Shares of Bina Darulaman closed four sen or 16.67% higher at 28 sen on Monday, giving the company a market capitalisation of RM83.38 million.

KUALA LUMPUR, Health and wellness company DXN Holdings Bhd is exploring plans to establish a coffee-processing factory in Minas Gerais, Brazil — a move that would mark its first direct investment in the country and a major milestone in its Latin American expansion strategy. Founder and executive chairman Datuk Lim Siow Jin said the initiative reflects DXN’s confidence in the region’s growth potential and positions Brazil as a key pillar in the group’s global manufacturing network. “Brazil is the next logical step for DXN in Latin America. The region is currently driving our growth, and we see Brazil’s economies of scale, young demographics, and rising health-consciousness as highly complementary to our established operations in Peru and Bolivia,” Lim said during the Malaysia-Brazil Business Summit in Kuala Lumpur on Monday. He noted that Latin America remains DXN’s strongest regional market, contributing around 60% — or over RM1 billion — to group revenue for the financial year ended Feb 28, 2025 (FY2025). The contribution, he added, is expected to remain steady over the near term, underscoring the region’s strategic importance to the group’s earnings. DXN currently operates an extensive network in Mexico, Peru, and Bolivia, supported by a global membership base exceeding 10 million, of which about 60% are located in Latin America. The proposed investment in Brazil will include both the construction of a coffee-processing facility and the transfer of Malaysian-developed technology, which features unique innovations such as civet-style fermented coffee and tea brewed from coffee leaves — products that Lim described as “new and exciting” for the Brazilian market. “We intend to bring our proprietary technology to Brazil to introduce a new concept in the local coffee industry. Malaysia has significant expertise in developing high-value coffee products, and we believe this transfer of knowledge can create new market opportunities in Brazil,” Lim explained. He said Brazil was chosen for its similarities to Malaysia in terms of climate and soil composition, which would facilitate the cultivation and processing of raw materials using DXN’s existing technology with minimal adaptation. “What we grow and produce in Malaysia can be replicated in Brazil with little modification. This presents tremendous potential not only for DXN but also for Malaysian entrepreneurs seeking to expand their businesses into Latin America,” he added. According to Lim, the government of Minas Gerais has extended several investment incentives to attract DXN’s project, including an offer of 10 hectares of free land, simplified approval procedures, and reduced land costs. Such incentives, he said, demonstrate the local authorities’ strong commitment to fostering international partnerships and industrial growth. Industry observers said DXN’s move aligns with Brazil’s ambition to diversify its coffee sector beyond raw exports and into higher value-added segments such as specialty coffee, wellness products, and nutraceuticals — areas where DXN’s research and experience give it a competitive advantage. If materialised, the plant in Minas Gerais would become DXN’s second major manufacturing hub outside Asia, reinforcing the company’s global supply chain and enabling it to serve the rapidly expanding Latin American market more efficiently. DXN’s shares closed one sen or 1.94% higher at 52.5 sen on Monday, giving the group a market capitalisation of RM2.62 billion.

KUALA LUMPUR, The Inland Revenue Board (IRB) has initiated legal action against businessman Datuk Seri Muhammad Adlan Berhan to recover RM2.589 million in outstanding taxes and penalties. The lawsuit stems from a composite tax assessment of RM3 million issued against Adlan — who is the son-in-law of former prime minister Tan Sri Muhyiddin Yassin — for the year of assessment 2021. The IRB issued a composite notice on March 1, 2023, and said the document was sent by post and not returned. According to the IRB’s statement of claim, Adlan made partial payments totalling RM660,000, comprising RM510,000 and a subsequent RM150,000, leaving an outstanding balance of RM2.49 million. As the balance remained unpaid after 30 days, a 10% penalty amounting to RM249,000 was imposed, bringing the total amount owed to RM2.589 million. The IRB said Adlan’s continued failure to settle the outstanding sum prompted the tax authority to file the suit on July 31. On Sept 20, Adlan’s solicitors from Mathews Hun Lachimanan informed the court that their client was in the process of negotiating a full settlement and requested an extension to file his statement of defence by Oct 29. The IRB did not object to the application. Case management was conducted on Monday (Oct 27) before High Court Deputy Registrar Norliza Hussin and has been rescheduled to Dec 8. Adlan was previously reported to have left Malaysia in May 2023 and was described as a fugitive. However, he denied the claim in a statement issued through his lawyer in August last year, asserting that he was abroad for business purposes. Recent reports alleged that Adlan was sighted in the company of Middle Eastern dignitaries and had been travelling for leisure, including to Thailand, where he was seen golfing and visiting a shooting range. Home Minister Datuk Seri Saifuddin Nasution Ismail has since confirmed that Adlan’s passport has been revoked.

PETALING JAYA, Master Tec Group Bhd announced that its 51%-owned subsidiary, Sediacom Sdn Bhd, has secured a RM10.68 million contract to undertake sub-contract works on external electrical infrastructure. In a statement, the group said the project is scheduled to commence this month and is expected to be completed by June 2026. The scope of work includes electrical installation and infrastructure support services for a large-scale project, further strengthening the company’s presence in Malaysia’s power and utilities sector. While the name of the customer was not disclosed for confidentiality reasons, Master Tec noted that the client is a well-established company engaged in the supply of electrical accessories and contract services across the country. The group said the latest contract underscores its growing reputation and technical capabilities in executing complex electrical and engineering projects. “This project will add meaningful revenue visibility over the next two quarters and aligns with our long-term ambition to expand our footprint in the power infrastructure and grid support segments,” said Master Tec chief executive officer Tee Kok Hwa. He added that the award reflects the continued trust and confidence clients place in Master Tec’s expertise, operational efficiency, and commitment to quality. The group remains optimistic that its strategic focus on infrastructure-related projects will continue to drive sustainable growth in the coming years. The company said it will continue to pursue similar opportunities that leverage its engineering competencies and strengthen its role within Malaysia’s fast-developing power distribution ecosystem.

KUALA LUMPUR, Steel Hawk Bhd, through its wholly-owned subsidiary Steel Hawk Engineering Sdn Bhd, has secured a series of contracts worth a combined total of RM60.97 million from Sega Elektrik Sdn Bhd. In a filing with Bursa Malaysia, the group said the contracts were officially awarded on Oct 23, 2025. Under the agreements, Sega Elektrik appointed Steel Hawk Engineering as a subcontractor to undertake the installation, testing, and commissioning of 415 volts and below for underground cables, overhead systems, jointing and termination works, along with other related accessories. The projects form part of Tenaga Nasional Bhd’s Asset Development Distribution Network Division initiatives. The contracts span one year, beginning Oct 23, 2025, and are scheduled to run until Oct 22, 2026, with an option for a one-year extension subject to Sega Elektrik’s discretion. Steel Hawk said the new contracts further strengthen its order book and reflect the company’s growing reputation and capabilities in delivering high-quality electrical and engineering services. “These contracts are expected to contribute positively to the group’s earnings for the financial year ending Dec 31, 2025, while having no impact on the company’s share capital or shareholding structure,” it added. The company noted that the latest wins are consistent with its strategy to pursue sustainable growth through targeted project acquisitions within the energy and utilities sector.

SUNGAI PETANI, Kedah-based property developer Aman Setia Group has announced a partnership with GCH Retail (Malaysia) Sdn Bhd to establish a Giant supermarket as the anchor tenant for its flagship Aman Parc township in Sungai Petani. The collaboration involves a total investment of RM10 million under a 15-year build-and-lease agreement. The 15,000 sq ft Giant outlet, scheduled to open by the fourth quarter of 2026, will serve as one of the main retail attractions within the 97-acre Aman Parc township. Aman Setia will be responsible for constructing the supermarket facility and subsequently leasing it to GCH Retail, the operator of the long-standing Giant brand, which is part of one of Malaysia’s largest retail chains. In a statement released on Friday, Aman Setia chief operating officer CK Ooi said the partnership marks a key milestone in the group’s strategy to enhance the commercial appeal and liveability of its townships in Kedah. “The upcoming Giant supermarket will not only provide convenient access to daily essentials for residents but also create new employment opportunities, attract a larger customer base to Sungai Petani, and enhance Aman Parc’s position as a dynamic lifestyle and retail destination,” he said. Ooi added that the collaboration reinforces Aman Setia’s vision to develop self-sustaining, community-focused townships that integrate residential, commercial, and leisure components. “By working with established retail brands like Giant, we aim to deliver long-term value to both residents and investors, while supporting the growth of the local economy,” he said. Aman Parc, with an estimated gross development value (GDV) of RM500 million, is a mixed-use township designed to offer a balanced lifestyle experience. The development features residential homes, commercial spaces, green landscapes, and lifestyle amenities, catering to the growing population of Sungai Petani and its surrounding areas. The signing ceremony for the partnership took place on Oct 8 and was attended by Aman Setia directors Tan Chong Ming and Ooi Inn Kee, along with GCH Retail director Datuk Gary Yap and chief executive officer Tiger Cheah. Aman Setia said the addition of Giant as an anchor tenant reflects strong investor confidence in the township’s potential and its strategic location within northern Kedah’s growth corridor. The group expects the new supermarket to serve as a catalyst for future commercial activity and community engagement within Aman Parc.

PETALING JAYA, Shin Yang Group Bhd has announced the acquisition of a 5.37-hectare parcel of leasehold industrial land located off Sepanggar Bay, Kota Kinabalu, Sabah, along with an existing workshop building, for a total purchase consideration of RM26.6 million. The acquisition is being carried out through its wholly owned subsidiary, Shin Yang Shipping Sdn Bhd, from a related company, Shin Yang Sdn Bhd. In a filing with Bursa Malaysia, the group said the transaction was finalised on a willing-buyer, willing-seller basis and supported by an independent market valuation. Shin Yang Group stated that the purchase aligns with its long-term growth strategy to enhance operational efficiency and expand its logistics footprint in East Malaysia. The newly acquired property will serve as a key site for warehouse expansion and logistics development, enabling the group to strengthen its door-to-door delivery capabilities as a fully integrated logistics service provider. “The acquisition also allows us to reduce reliance on leased facilities by transitioning toward property ownership, which provides greater cost stability and operational flexibility over the long term,” the company said. The RM26.6 million acquisition will be fully financed through internal funds, reflecting the group’s strong balance sheet and prudent financial management. Shin Yang Group expects the new facility to contribute positively to the group’s earnings once operational, driven by improved logistics capacity and reduced rental costs. Barring unforeseen circumstances, the group targets the completion of the transaction by the fourth quarter of its financial year ending 2025. The move underscores Shin Yang Group’s continued commitment to expanding its presence within Malaysia’s logistics and shipping sectors, particularly in Sabah, a region poised for growing industrial and trade activity.

KUALA LUMPUR, LFE Corp Bhd (KL) executive chairman and largest shareholder Chuah Chong Ewe has further strengthened his position in the construction and mechanical and electrical (M&E) services company, raising his total shareholding to 30.895%. According to the group’s filing on Tuesday, Chuah’s stake rose following the inclusion of Sierra Bonus Sdn Bhd’s 7.096% interest — amounting to 82.6 million shares — under his deemed indirect interest. The recognition of this additional block underscores Chuah’s expanding control and confidence in the company’s long-term prospects. This latest increase follows his recent move just a week earlier, when Chuah acquired an additional 50 million shares, equivalent to a 4.295% stake, in his personal capacity. Following both transactions, Chuah now holds a direct interest of 13.839% and an indirect interest of 17.056%, through several investment vehicles and his son, Chuah Chern Yang. Apart from Chuah, LFE Corp’s other key shareholders include Ng Kok Kheng, who holds a 7.53% stake, and managing director Liew Kiam Woon, who owns 7.32%. Shares in LFE Corp closed half a sen or 2.86% higher at 18 sen on Tuesday, giving the group a market capitalisation of RM203.71 million. The stock has seen active trading in recent weeks, coinciding with Chuah’s share accumulation and renewed investor attention on the company’s restructuring and growth initiatives.

KUALA LUMPUR, Omesti Holdings Bhd a substantial shareholder of Ho Hup Construction Co Bhd, has called for an extraordinary general meeting (EGM) to propose changes to the construction company’s board. Omesti, which holds a 10.4% stake in Ho Hup, is seeking shareholder approval at the EGM — scheduled for Nov 20 — to remove two existing directors, executive director Datuk Wong Kit-Leong and director Low Kheng Lun, and to appoint Ong Koon Loong and Bernard Chen Tong Liang as their replacements, according to a bourse filing on Wednesday. The ICT solutions provider is also proposing that any new appointments to Ho Hup’s board made between the date of its notice and the EGM be revoked. No rationale was provided for the proposed changes. Wong has served on Ho Hup’s board since August 2010, while Low has been a director since October 2011. Wong owns a 0.029% direct stake in the company, while Low holds 4.42% indirectly through family vehicle Low Chee Group Sdn Bhd. Omesti’s nominees bring extensive experience in corporate and financial management. Ong has two decades of expertise in audit and finance, having served as chief financial officer at Asdion Bhd and as chief risk and compliance officer at Managepay Systems Bhd. Chen, meanwhile, has over 30 years of experience in corporate finance, banking, asset management and business advisory, and has held senior roles at OCBC Bank (M) Bhd and as CEO of BIB Insurance Brokers Sdn Bhd under the Hong Leong Group. Ho Hup has been grappling with financial challenges since early this year. The company was classified as a Practice Note 17 (PN17) entity in April after its wholly owned subsidiary, Bukit Jalil Development Sdn Bhd, defaulted on RM112.69 million in loans guaranteed by Ho Hup. The group has been loss-making since 2021, with its latest financial results showing a net loss of RM275.9 million on revenue of RM2.31 million for the quarter ended June 30, 2025, primarily due to impairment charges. For the 18-month period ended June 30, 2025, Ho Hup reported a cumulative net loss of RM473.25 million on RM57 million in revenue. Ho Hup shares closed one sen or 40% lower at 1.5 sen on Wednesday, giving it a market capitalisation of RM7.77 million. Omesti shares fell half a sen or 6.25% to 7.5 sen, valuing the company at RM82.6 million.

KUALA LUMPUR, YTL Corp Bhd and YTL Power International Bhd will be seeking their shareholders’ approval at upcoming annual general meetings (AGMs) to issue share options to employees associated with their directors. In separate filings to Bursa Malaysia on Wednesday, YTL Corp said it intends to issue options to several employees linked to its directors within the group’s subsidiaries. Meanwhile, YTL Power noted that its proposal involves the issuance of options to one director-linked employee of the company. Both proposals fall under their respective employees’ share option schemes (ESOS), which collectively allow for the allocation of up to 10% of each company’s issued share capital, subject to the schemes’ terms and conditions. “The details of the proposed option issuances will be outlined in the respective AGM notices, which will be made available to shareholders in due course,” both companies said. At market close on Wednesday, YTL Corp shares fell five sen or 1.96% to RM2.50, valuing the group at RM29.09 billion. YTL Power shares slipped eight sen or 2.04% to RM3.84, giving it a market capitalisation of RM33.32 billion.