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KUALA LUMPUR, Custom Food Holding Bhd, a specialty food ingredient manufacturer backed by private equity firm Creador, has filed a draft prospectus for an initial public offering (IPO) on the Main Market of Bursa Malaysia. The IPO is aimed at funding the construction of a new manufacturing facility, repaying borrowings, and supporting working capital needs. Creador, which has backed notable listings such as CTOS Digital Bhd in 2020, Mr DIY Group (M) Bhd in 2021, and Eco-Shop Marketing Bhd in May this year, currently holds an effective 16.7% stake in Custom Food. The proposed listing involves a public issue of 113.31 million new shares (11.1% of enlarged issued shares) and an offer for sale of 186.81 million existing shares (18.3%), bringing the total public float to 29.4%. For the retail portion, 30.62 million shares will be offered, comprising 20.42 million shares for the Malaysian public and 10.21 million for eligible persons. Meanwhile, 269.5 million shares will be allocated under the institutional offering. Proceeds from the sale of the existing shares will go to Oriental Concept Sdn Bhd (OCSB) and Sabroso Group Sdn Bhd (SGSB). Following the IPO, OCSB’s stake will drop to 61.21% from 80% (assuming full exercise of the overallotment option), while SGSB’s stake will decline to 4.98% from 20%. OCSB is controlled by managing director Datuk Saw Beng Liang, his brother Saw Benson, and their father Saw Ee Chee. SGSB is controlled by Polvere Group Sdn Bhd, an indirect 83.5% subsidiary of Creador V LP. Custom Food specialises in producing non-dairy creamers, functional lipid powders, and malt and cereal products, operating manufacturing facilities in Kulim, Kedah, and Perai, Penang. For the financial year ended Dec 31, 2024 (FY2024), the company posted a net profit of RM42.07 million on revenue of RM394.86 million, translating to a profit margin of 10.65%, up from 8.77% in FY2023 and 9.4% in FY2022. RHB Bank is the sole principal adviser, bookrunner, and underwriter for the IPO.

KUALA LUMPUR, Nearly 4,000 Malaysian companies have expanded their reach internationally through the MADANI Digital Trade (MDT) platform, boosting their competitiveness in the global market. The Malaysia External Trade Development Corporation (MATRADE) highlighted that the Malaysia International Halal Showcase (MIHAS) 2025 fully leveraged the MDT platform, connecting 600 Malaysian halal exporters, including micro, small, and medium enterprises (MSMEs), with 300 international buyers through digital business matching. “MDT facilitates, modernises, and digitalises cross-border trade, enabling goods and services to move faster, more efficiently, and cost-effectively,” MATRADE said in a statement today. “The platform also supports key trade processes such as customs declarations for imports, exports, and e-commerce transactions, improving compliance and streamlining operations.” MATRADE noted that MDT prioritises MSME empowerment, providing digital tools and resources to prepare them for international trade. “With intelligent business matching and trade facilitation services, MSMEs can actively participate in global markets and integrate into international supply chains,” it added. During the Global Halal Summit (GHaS) on Sept 19, Prime Minister Datuk Seri Anwar Ibrahim highlighted MDT’s role in strengthening Malaysia’s global competitiveness. He emphasised that the platform is a key enabler for trade digitalisation, SME empowerment, and deeper integration into global supply chains, reflecting the government’s vision to support businesses through innovation and digital connectivity. Digitalisation, he noted, allows companies to operate more efficiently, access new markets, and tap into opportunities within the digital economy and international trade. At the MDT platform launch on March 13, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz described it as a catalyst for trade facilitation. He said the platform would streamline export processes, reduce costs, and provide inclusive opportunities for SMEs on the international stage. As the lead agency, MATRADE works closely with relevant government bodies, including the Royal Malaysian Customs Department (RMCD), and trade ecosystem partners across logistics, insurance, and finance. “RMCD plays a vital role in enabling seamless trade by integrating digital solutions into customs operations, improving efficiency, and strengthening trade facilitation,” MATRADE said. “This initiative not only enhances Malaysia’s international trade standing but also drives economic growth through a more transparent, technology-driven trade environment.” Built using big data analytics, cloud computing, and artificial intelligence, MDT is positioned as a smart trade platform and a major support system for Malaysia’s halal industry. The virtual International Sourcing Programme (INSP), held alongside MIHAS 2025, has also utilised MDT and will run until November 2025. Amid a changing global trade landscape, MATRADE remains committed to supporting businesses through digital transformation. “The MDT platform represents a key milestone in equipping Malaysian companies for success in the digital economy and reinforcing Malaysia’s role in global trade,” it concluded.

KUALA LUMPUR, Sime Darby Bhd (KL:SIME) announced that its wholly-owned indirect subsidiary, Tractors Singapore (Maldives) Private Ltd (TSMPL), began a members’ voluntary winding-up on July 15, 2025, under the Maldives Companies Act 2023. In a filing with Bursa Malaysia on Monday, Sime Darby said S&A Lawyers LLP has been appointed as the liquidator for TSMPL. TSMPL was incorporated on Nov 1, 2017, as a private company limited by shares in the Maldives. Its main business activities included the sale and rental of engines and power systems, assembly, as well as product support for industrial machinery and parts. Sime Darby noted that the liquidation of TSMPL is not expected to have any significant impact on the group’s earnings or net assets for the financial year ending June 30, 2026.

KUALA LUMPUR, Vantris Energy Bhd, formerly Sapura Energy Bhd, has appointed Adnan Zainol Abidin as its new chairman, effective Oct 1. Adnan brings over 40 years of experience in the oil and gas sector, having previously served as chief operating officer at Petroliam Nasional Bhd and as executive vice-president and CEO of Petronas Gas Bhd (KL: PETGAS). He will succeed Shahin Farouque Jammal Ahmad, who steps down on the same date. Shahin currently serves as group head of strategic investments at Permodalan Nasional Bhd. Vantris Energy also confirmed that Datuk Shahriman Shamsuddin, who resigned from the board in June, is no longer a substantial shareholder. This follows the completion of the group’s regularisation plan to exit Practice Note 17 (PN17) status, which included a capital reduction and debt restructuring, reducing borrowings from RM10.8 billion to RM5.6 billion. Shahriman’s stake was diluted to 0.02% after 1.36 billion settlement shares were issued on Sept 26. Previously, he and his brother, former president and group CEO Tan Sri Shahril Shamsuddin, held an 11.25% indirect interest via Brothers Capital Sdn Bhd. The completion of the regularisation plan also saw the emergence of three major banks as Vantris Energy’s substantial shareholders: Malayan Banking Bhd (KL: MAYBANK) with 20.27%, CIMB Group Holdings Bhd (KL: CIMB) with 12.13%, and RHB Bank Bhd (KL: RHBBANK) with 7.21%. Shares of Vantris Energy closed 3.5 sen, or 6.6%, higher at 56.5 sen on Monday, giving the group a market capitalisation of RM1.29 billion.

In Formula 1, the story of Alex Yoong – Malaysia’s first F1 driver – is often remembered as one of failure. Yet the reality tells a very different story. His challenges were not due to a lack of talent but rather entering too early into the most competitive arena, with a small team, limited resources and minimal support. Driving for Minardi was like “a Kancil racing against a Lamborghini”. Despite his skill, the ecosystem never gave him a fair chance. History ultimately labeled him a “failed driver”, when in truth, he was a victim of an unprepared system. This narrative mirrors the corporate world, where small and growing companies often struggle not because they lack ability, but because they face much larger, richer and more established competitors. QEW’s QUEST: Turning Challenges into an Ecosystem of Strength QEW Group knows this story well. Having entered industries dominated by giants, QEW once faced the same limitations – scarce capital, an incomplete system and an uneven playing field. But instead of merely surviving, QEW embarked on a QUEST to create its own winning ecosystem. Through subsidiaries such as QEW Smart Integrated Industrial Park (QSIIP), the development of its own participation in the Halal Industries and strategic government-linked projects, QEW has positioned itself not to race alone, but to compete on equal footing with industry leaders.     This determined QUEST to build a strong and self-sustaining platform was internationally recognized when QEW Group was named Winner of the Contribution to Regional Halal Trade Award at IMTGT-RBEA 2025, underscoring the Group’s role in advancing the halal economy across ASEAN and beyond. “We Refuse to Be the Talented Driver in a Slow Car” “Alex Yoong’s story is a lesson to all of us – talent alone is never enough without the right ecosystem. At QEW, we refuse to be the talented driver in a slow car. Instead, we are determined to build our own fast car”, said Dato’ Iqbal, Executive Chairman of QEW Group. “That means creating our own innovation, strengthening our assets and partnering with trusted stakeholders. Our QUEST is to transform every challenge into an opportunity and to ensure Malaysia can compete confidently on the global stage.” From Punchline to Champion In Formula 1, a single second can decide whether one becomes a champion or a punchline. The same is true in business. QEW Group has chosen to be a champion – not because the journey is easy, but because the company continues to learn from history, embrace bold strategies and drive forward with the ambition to deliver not only corporate success but also national impact.

MAYU Global Group Bhd said the Malaysian Anti-Corruption Commission (MACC) has summoned a director of its 80%-owned subsidiary, Sunrise Manner Sdn Bhd, and ordered the freezing of the subsidiary’s bank accounts. In a bourse filing today, Mayu said Sunrise Manner director Tang Tiam Hok was called in by MACC on Sept 19 and 23 to assist in an ongoing investigation. “At this juncture, the board has been informed that no charges have been filed against Mr Tang,” the group added. Separately, Sunrise Manner received freezing orders from MACC on Sept 23 under Section 44 of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001. The orders, which cover the subsidiary’s accounts with Maybank Islamic Bhd and CIMB Bank Bhd, are valid for 90 days. Mayu said the freeze is not expected to have a material financial or operational impact on the group, based on its cash flow projections and existing hire purchase facilities. On Aug 7, Mayu disclosed that two other subsidiaries, namely Progerex Sdn Bhd and SMPC Industries Sdn Bhd, had been approached by MACC as part of “Op Metal”, a crackdown on alleged scrap metal smuggling syndicates linked to enforcement bribery. Mayu stressed then that it was not involved in the import or export of steel scrap, noting that all its operations are domestic. Separately, the group has also been subject to a police probe into the long-running MBI Group pyramid scheme, during which its bank accounts totaling RM10.67 million were frozen. Its executive director Tan Kim Hee was detained on April 2 this year and released without charges on April 7.

PETALING JAYA, Malayan Banking Bhd (Maybank) has appointed Yasin Abdullah as group CEO of Islamic banking and CEO of Maybank Islamic Bhd, effective Oct 1. In a statement today, Maybank said Yasin will be responsible for leading the group’s Islamic banking franchise and spearheading its vision of becoming a global leader in Islamic finance. Yasin Abdullah, 52, is currently Maybank’s group chief audit executive, where he spearheaded the Maybank Group Audit Strategic Plan 2023-2025.  “He will oversee all aspects of Maybank Group’s Islamic finance business, including business strategies, product development and innovation, while ensuring that risk management and Shariah compliance are upheld to the highest standards. He will report to Maybank’s president and GCEO, and will also be a member of the group executive committee,” it said. Yasin, 52, is currently Maybank’s group chief audit executive (GCAE), where he spearheaded the Maybank Group Audit Strategic Plan 2023–2025 to elevate the audit function through global best practices and strengthen assurance across the group. Meanwhile, Maybank has also appointed Malique Firdauz Ahmad Sidique, 47, as its new GCAE, effective Oct 1, succeeding Yasin. Maybank president and GCEO Khairussaleh Ramli said the appointments continued to reflect the effectiveness of Maybank’s internal succession planning.

ISKANDAR PUTERI, The Johor government has announced a comprehensive RM209 million aid package comprising 42 initiatives designed to ease the financial burden of its residents amid the ongoing rise in the cost of living. Menteri Besar Datuk Onn Hafiz Ghazi said the assistance is expected to benefit nearly two million Johoreans, with targeted support provided to various groups, including farmers, fishermen, e-hailing drivers, veterans, single mothers, undergraduates, examination candidates, and senior citizens. Onn Hafiz (third from right) at a ‘Jualan Kasih Johor’ programme in Johor Baru earlier this year. This programme was expanded with the additional funds. “This is proof that revenue growth is not just about figures on paper. What matters most is how every Bangsa Johor, in every district, can feel the impact of government initiatives in their daily lives,” he said during the Second Meeting of the Fourth Session of the 15th Johor State Assembly today. The Menteri Besar stressed that the aid package reflects the state government’s priority of ensuring that Johor’s economic growth is translated into tangible benefits for its people, especially those in vulnerable groups. The initiatives under the RM209 million package include a mix of direct financial assistance, subsidies, incentives, and social support programmes aimed at reducing the financial strain faced by households. According to Onn Hafiz, these efforts are part of Johor’s broader strategy to strengthen social protection and enhance the people’s overall well-being. He was responding to a question raised by Kota Iskandar assemblyman Datuk Pandak Ahmad, who had asked how the state government intends to address the challenges of rising living costs while ensuring that state revenue is effectively channelled back to the people. Earlier this year, Johor had already distributed RM20 million in targeted aid, with RM5 million allocated to single mothers and another RM5 million channelled towards cancer patients, alongside several other welfare initiatives. With this latest package, Onn Hafiz said the state hopes to provide immediate relief while also reinforcing Johor’s long-term commitment to inclusive growth. “Johor’s economic progress must always be people-centred. The ultimate goal is not only to grow revenues but to ensure that every citizen, especially those most in need, can benefit from the state’s success,” he added.

KUALA LUMPUR, RegASK, an agentic artificial intelligence (AI) platform for regulatory intelligence and workflow management, has appointed Deanna Coscia as Senior Vice President (SVP) of Commercial, marking a significant step in its global expansion and market growth strategy. RegASK, Deanna Coscia as Senior Vice President (SVP) of Commercial. Coscia, a seasoned sales executive with over 15 years of experience in life sciences and SaaS, will lead RegASK’s worldwide commercial operations, driving platform adoption among regulatory teams and enhancing brand visibility in key markets. “Deanna has an outstanding track record in scaling commercial organisations, building trusted client relationships, and delivering strong revenue results. Her leadership will be instrumental as we expand globally,” said RegASK Founder and CEO Caroline Shleifer. Coscia expressed enthusiasm about joining the company, noting that RegASK is well-positioned to transform how organisations manage regulatory complexities. She previously served as Vice President of Strategic Accounts at Medable, where she contributed to scaling the health-tech unicorn to a US$2.1 billion valuation and drove 80 per cent revenue growth in 2024. Her experience also includes leadership roles at IBM and SevOne. Based in the United States, Coscia’s appointment highlights RegASK’s commitment to strengthening its presence in the US and European markets, supporting its mission to empower regulatory teams with agentic AI tools for more proactive, agile, and strategic compliance operations.

KUALA LUMPUR, JS Solar Holding Bhd, a solar photovoltaic (PV) system provider, sustained its positive momentum at midday following its debut on Bursa Malaysia’s ACE Market earlier today. By the lunch break, the counter gained 9.0 sen to 40 sen, with 55.47 million shares traded. JS Solar opened at 40 sen, marking a nine sen or 29.03 per cent premium over its initial public offering (IPO) price of 31 sen, with 6.98 million shares changing hands at the opening. Managing director Datuk Johnson Chai Jeun Sian said the listing sets a strong foundation for growth and enables the group to tap into Malaysia’s expanding renewable energy (RE) sector. “We see vast opportunities ahead, supported by the national target of achieving 70 per cent RE in the electricity mix by 2050, alongside initiatives like the large-scale solar (LSS) Petra 5+ programme, LSS-Sabah, and the Solar Accelerated Transition Action Programme,” he said. He added that growing demand for engineering, procurement, construction and commissioning (EPCC) services, coupled with the adoption of advanced technologies such as Battery Energy Storage Systems (BESS), will further drive the company’s expansion. JS Solar plans to utilise IPO proceeds of RM24.18 million to reinforce its market presence, with allocations including RM12.72 million (52.61 per cent) for bank loan repayments, RM3.20 million (13.23 per cent) for regulatory fees and head office renovations, RM1.55 million (6.39 per cent) for business expansion and marketing, RM2.52 million (10.40 per cent) for working capital, and RM4.20 million (17.37 per cent) for listing expenses. Chai noted that JS Solar intends to leverage its experience as the main contractor for a BESS project at Kulim Hi-Tech Park, further integrating the technology to strengthen its role in Malaysia’s transition towards sustainable energy.