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KUALA LUMPUR, Integrated engineering solutions provider Kelington Group Berhad (“Kelington” or “Group”) (stock code: 0151), via its wholly-owned subsidiary Kelington Engineering (S) Pte. Ltd. (KESG), has received a Letter of Award (LOA) worth SGD33.0 million (approximately RM108.0 million at SGD1:RM3.28) to execute a bulk gas distribution piping system for an Advanced Packaging Facility Project in Singapore. The contract was awarded by a turnkey engineering specialist on behalf of the project owner, a leading global semiconductor manufacturer. Work on the project will begin immediately and is expected to be completed by December 2026. Kelington has previously completed multiple facility expansion projects for this repeat customer in Singapore. This new facility focuses on high-bandwidth memory advanced packaging, a key technology for artificial intelligence (AI) applications that require advanced memory and storage solutions. It is also the first in Singapore recognised by the Global Lighthouse Network for leveraging big data and Industrial Internet of Things (IIoT) to implement AI in manufacturing. Ir. Raymond Gan, CEO of Kelington Group, said, “The Group continues to benefit from the strong growth of the semiconductor industry, as manufacturers expand and upgrade facilities to keep pace with technological advancements and strengthen local supply chains. Our global expansion strategy positions us well to capture these opportunities and secure new contracts consistently.” As of 30 June 2025, Kelington’s orderbook stood at RM1.3 billion, providing solid earnings visibility. Between July and August 2025, the Group secured RM299.9 million in new contracts. With the inclusion of this SGD33.0 million (RM108.0 million) project, total new wins in September amounted to RM407.9 million, with RM318.1 million coming from projects in Singapore and Europe. “The semiconductor sector remains highly active, and we expect further contract wins as global manufacturers invest in next-generation technologies. This award reinforces Kelington’s reputation in delivering complex engineering projects and positions us to benefit from growing AI-driven demand,” he added. Globally, the semiconductor industry continues to show strong growth. According to World Semiconductor Trade Statistics, the market generated US$346 billion in H1 2025, an 18.9% year-on-year increase, driven by expanding data centre infrastructure and rising AI adoption. In addition, Kelington has established a new subsidiary in Japan to support a client’s expansion plans, with further projects currently under discussion.

KUALA LUMPUR, P Setia Bhd has appointed IJM Corp Bhd’s chief strategy officer, Tan Hwa Min, as its new deputy chief executive officer (CEO), effective Nov 17, 2025. Tan, 49, previously served as chief operating officer of TRX City Sdn Bhd, where he was instrumental in developing the Tun Razak Exchange over nearly 24 years. S P Setia noted that Tan’s family owns international hotel and investment businesses in Malaysia, Singapore, Australia, New Zealand, and China, in which he holds direct and indirect shareholdings. To address potential conflicts of interest, Tan will abstain from any decisions related to the group’s hotel business. Alongside Tan’s appointment, S P Setia also announced that senior executive vice-president Datuk Yuslina Mohd Yunus will become chief operating officer (COO) from Oct 1, 2025, succeeding Datuk Zaini Yusoff, who will take over as president and CEO. Yuslina, who joined S P Setia in 2018 from I&P Group, currently oversees six major townships, stakeholder operations, asset management, and the S P Setia Foundation. Chairman Tan Sri Syed Anwar Jamalullail said the leadership changes reflect the group’s commitment to building a future-ready management team by combining external expertise with internal talent. Since its founding in 1974, S P Setia has established itself as one of Malaysia’s leading property developers, known for its innovative and high-quality projects in the Klang Valley and Johor Baru.

Hong Kong’s Securities and Futures Commission (SFC) has imposed a five-year ban on Richard Charles Heyes, the former head of pan-Asia equities at Citigroup, citing regulatory breaches during his tenure over five years ago. The SFC noted that between 2008 and 2018, Citigroup Global Markets Asia (CGMAL) had sent misleading messages to clients, exercised weak oversight, and misrepresented trade activities. The firm was fined HK$348.3 million (US$44.76 million) in 2022 for these violations. Heyes was held personally responsible for the breaches, with the SFC stating that he failed to properly manage his team while pressuring trading desks to grow market share. This lack of oversight allowed subordinates to misrepresent facilitation trades as agency trades to clients, fostering a culture that prioritized revenue over client interests and honesty. “By exerting pressure on trading desks while ignoring warning signs in emails and reports, Heyes neglected his managerial duties, enabling misconduct to persist within CGMAL,” said Christopher Wilson, SFC executive director of enforcement. Heyes is now barred from returning to the financial industry until September 2030. Citigroup declined to comment directly on the ban but said it has “implemented significant remedial measures to strengthen compliance and internal controls to address this legacy issue from 2019.” (Exchange rate: US$1 = HK$7.7813)

PUTRAJAYA, Kingtime International Ltd has won its appeal against Petronas Carigali Sdn Bhd in a patent dispute involving the use of a mobile offshore production unit (Mopu), overturning a 2023 High Court ruling that had dismissed its claim. A mobile offshore production unit is a converted offshore oil rig used for oil and gas production. The Court of Appeal not only reinstated Kingtime’s infringement suit but also struck out Petronas Carigali’s counterclaim seeking to invalidate two of Kingtime’s patents. Justice Faizah Jamaludin, delivering the unanimous decision, said Petronas Carigali was bound by a 2018 High Court judgment which found that Petrofac E&C Sdn Bhd — the contractor that built the Mopu — had infringed Kingtime’s patents and failed to invalidate them. She stressed that Petronas Carigali, which had commissioned Petrofac for the Sepat oil field project about 200km off Kuala Terengganu, could not relitigate the matter. “The High Court erred in dismissing Kingtime’s suit and in allowing Petronas Carigali’s invalidation action. This warrants appellate intervention,” she said. The appellate bench, chaired by Justice Lee Swee Seng with Justices Faizah Jamaludin and Choo Ka Sing, sent the case back to the High Court for damages assessment. Petronas Carigali was ordered to pay Kingtime RM950,000 in legal costs and refund RM800,000 previously paid following the 2023 High Court decision. Kingtime first sued Petronas Carigali in 2018, alleging that its use of the Sepat Mopu built by Petrofac infringed its patents. Petronas Carigali later filed a separate suit to invalidate the patents, which the High Court had allowed before today’s reversal. Kingtime was represented by a team of seven lawyers, while Petronas Carigali was represented by senior counsel Cyrus Das and his team.

BUTTERWORTH, The Ministry of Transport (MOT) plans to build an additional railway track at Penang Port to boost logistics efficiency and ease traffic congestion in surrounding areas. Transport Minister Anthony Loke said the project involves extending the current 500-metre track to 1,010 metres, enabling all carriages or wagons to be fully loaded within the port’s premises without spilling over onto public roads. “This proposal is being finalised. Our main priority is to expedite the project to achieve two objectives: first, to improve container loading efficiency by having the full track inside the port, and second, to prevent traffic disruptions caused when carriages extend onto nearby roads. “Right now, the track can only fit about 30 out of 50 carriages, with the remaining 20 left outside the port, causing congestion during the loading process,” he told reporters after launching the Professional Advancement in Trucking and Haulage (PATH) Programme here on Saturday. Also present at the event was Human Resources Minister Steven Sim. The PATH Programme, spearheaded by the Human Resources Ministry (Kesuma) through HRD Corp in partnership with MOT, aims to upgrade driver skills in the trucking and haulage sector. Loke noted that conventional methods requiring budget approval and tendering often delay projects. To speed things up, MOT will pursue a strategic partnership model, working with port operators such as MMC Ports and Penang Port to share implementation costs. The Railway Assets Corporation (RAC) will also contribute by supplying reusable materials and assets, such as old tracks and sleepers, to help lower construction expenses. On the PATH Programme, Loke said it was introduced to expand the pool of certified haulier drivers nationwide, including at Penang Port. The government has allocated RM2.5 million for the initiative, which is expected to benefit over 1,000 participants nationwide. Of these, 200 at Penang Port will undergo intensive training covering the E Licence, Joint E GDL, safety, and work ethics modules. “This programme addresses the shortage of haulier drivers and enhances port efficiency by producing more skilled lorry drivers. It will also facilitate smoother cargo delivery while creating job and income opportunities, particularly for youth and local workers in the fast-growing logistics sector,” he said. Currently, port drivers can operate trucks within controlled areas without an E licence but are not permitted to drive on public roads. Loke said the high cost of obtaining the licence has been a major obstacle. “This programme is designed to remove that barrier,” he added.

BUTTERWORTH, The Ministry of Transport (MOT) will present to the Cabinet a proposal to extend by 10 years the land lease for MSM Malaysia Holdings Bhd’s sugar refinery in Perai. Transport Minister Anthony Loke: There is no issue of the refinery being closed immediately, and it will take at least 10 years to relocate. I believe it is reasonable for the refinery to be given time, but they must also cooperate with us. Transport Minister Anthony Loke said the refinery, which operates on land owned by the Railway Assets Corporation (RAC), will not be forced to shut down or move immediately. Instead, the extension would give MSM sufficient time to plan its relocation in line with redevelopment plans for Kampung Manis, where the plant is located. “The factory will not close right away. It will take at least 10 years to relocate, and I think this is a fair period. But MSM must also cooperate with us because if it stays permanently, the redevelopment of the area cannot move forward,” he told reporters after launching the Seberang Jaya Perkeso Dialysis Centre on Saturday. Loke explained that the refinery’s lease, first granted in 1964, expired last year. The extension would allow operations to continue while the government carries out phased redevelopment of Kampung Manis, which includes providing free housing for squatters in the area. He added that the plan aligns with the Madani government’s vision and Prime Minister Datuk Seri Anwar Ibrahim’s aim to improve housing for all communities. On Sept 17, Felda chairman Datuk Seri Ahmad Shabery Cheek said he would engage the Penang government and RAC to discuss the lease extension for MSM, the operator of the country’s largest sugar refinery. MSM plays a key role in ensuring Malaysia’s sugar security, supplying 24,000 tonnes monthly and maintaining a buffer stock of 32,000 tonnes of raw and refined sugar for the local market.

PETALING JAYA,  TH Plantations Bhd has dismissed the appeal of its former chief executive officer (CEO), Mohamed Zainurin Mohamed Zain, who sought reinstatement following his termination over alleged misconduct. In a filing with Bursa Malaysia, the plantation group confirmed that it had carefully reviewed Zainurin’s letter of appeal. The board, after deliberation and due process, decided not to overturn its earlier decision. “After due process and deliberation, the company has decided not to accept the appeal submitted by Zainurin. A letter to that effect has been sent to him today (Sept 18),” TH Plantations stated. Zainurin’s services were officially terminated on Aug 26, after he was initially placed on garden leave pending an internal inquiry. The move followed the issuance of a show-cause letter concerning allegations of unauthorised payments amounting to RM5.1 million made to plantation workers. The company emphasised that its decision to dismiss the appeal aligns with its commitment to good governance and accountability in its operations. Zainurin, who joined TH Plantations in 2022, had been overseeing several of the group’s restructuring and operational efficiency initiatives before the termination. His exit comes at a time when the company is navigating industry challenges, including fluctuating crude palm oil prices and rising operating costs. With the appeal process now concluded, TH Plantations said it remains focused on its business continuity plans and strengthening internal controls to safeguard shareholders’ interests.

KUALA LUMPUR, Telekom Malaysia Bhd (TM), through its enterprise and public sector solutions arm TM One, has deepened its collaboration with NCT Group of Companies via the latter’s wholly-owned subsidiary, NCT AI Sdn Bhd, to broaden the rollout of smart industrial park solutions across the country. The two parties formalised the initiative through a memorandum of collaboration, marking an expansion of their 2022 partnership on the NCT Smart Industrial Park (NSIP) in Selangor. Under the renewed collaboration, TM will provide state-of-the-art connectivity, digital solutions, cloud services, and information and communications technology (ICT) support to elevate NCT’s operational efficiency and enhance customer experience. Telekom Malaysia group chief executive officer Amar Huzaimi Md Deris. According to a joint statement, the scope of the collaboration will extend beyond Selangor to include upcoming developments such as NCT Innosphere in the Delapan Special Border Economic Zone, Kedah, as well as NCT’s corporate headquarters. Both companies also plan to co-develop go-to-market strategies that position NCT’s smart industrial parks as future-ready investment destinations, drawing interest from both local and international businesses. The model is set to be replicated nationwide with the aim of fostering economic growth, sustainability, and digital transformation. TM group chief executive officer Amar Huzaimi Md Deris highlighted that the initiative reinforces TM’s role not only as a provider of connectivity but also as a key enabler in building integrated smart industrial ecosystems. “With our Vision AI, intelligent operations centre, and advanced building management systems, we are enabling NCT’s smart industrial parks to evolve into fully integrated, future-proof hubs for businesses and communities. This reflects TM’s ambition to become a digital powerhouse by 2030, driving industrial growth, sustainability, and digitalisation in Malaysia,” he said. Meanwhile, NCT founder and group managing director Datuk Seri Yap Ngan Choy noted that the extended partnership marks a milestone in reshaping Malaysia’s industrial park landscape. “Our first collaboration with TM charted a path forward. This next step reaffirms our commitment to creating smart, sustainable, and digitally enabled industrial parks that will redefine the country’s investment appeal,” Yap added.

KUALA LUMPUR,  Toh Puan Na’imah Abdul Khalid has pushed back against the Malaysian Anti-Corruption Commission’s (MACC) move to compel Ilham Baru Sdn Bhd and Ilham Tower Sdn Bhd’s company secretary to surrender corporate documents, describing the action as a “fishing expedition” in its forfeiture case involving Ilham Tower. The iconic tower in central Kuala Lumpur, linked to the late former finance minister Tun Daim Zainuddin and his widow Na’imah, is currently the subject of two forfeiture applications by the MACC — proceedings that Na’imah is actively contesting. In her affidavit supporting a suit filed by Ilham Baru and Ilham Tower on Sept 9 against their company secretary, Rebecca Lee Ewe Ai, Na’imah argued that MACC’s demand for additional documents shows the agency lacks sufficient evidence to support its case. She contended that the commission should have gathered all necessary information before initiating the forfeiture bid. “A forfeiture under Section 56 of the Anti-Money Laundering Act 2001 (AMLA) is carried out without criminal charge or conviction. Since the application has already been filed, it is reasonable to assume that the MACC should have had enough evidence beforehand,” Na’imah stated. She further claimed that the order served on Lee demonstrates the contrary, suggesting that the MACC is only now attempting to fill evidentiary gaps after filing the application. Through Messrs Zharif Nizamuddin, the two companies are seeking a permanent injunction to prevent Lee — directly or through her agents or employees — from disclosing non-public company records not available through the Companies Commission of Malaysia (SSM), unless with the express consent of the firms. On Wednesday, High Court judge Wan Muhammad Amin Wan Yahya granted an ad-interim injunction until Oct 9, 2025, or further order, restraining Lee from handing over any private documents in her custody to third parties, including the MACC. The court also directed that case papers be served on the commission so the plaintiffs’ position can be heard. Na’imah stressed that as company secretary, Lee has no authority to share confidential records without the companies’ approval. She cited Section 351 of the Companies Act 2016, which empowers the court to hear the matter and grant the relief sought. Separately, beyond the Ilham Tower forfeiture proceedings, the MACC has also applied for prohibitory orders covering Na’imah’s overseas assets. These include holdings in the UK valued at £132 million (RM755.1 million), assets in Jersey worth US$157.5 million (RM667.0 million) and £85 million (RM490.7 million), and approximately RM544 million in Singapore-based assets.

KUALA LUMPUR, Malaysian Pacific Industries Bhd (MPI) has announced plans to acquire Infineon Technologies (Thailand) Ltd for US$77.95 million (RM327.56 million), a move aimed at strengthening its partnership with Infineon Technologies AG while boosting its semiconductor assembly and testing capacity. According to MPI’s filing with Bursa Malaysia, the deal involves purchasing Infineon’s back-end manufacturing site in Nonthaburi, Thailand, from its subsidiaries — Spansion LLC, Spansion Inc, and Cypress Semiconductor Corp. The group said the acquisition will allow it to expand collaboration with Infineon, its major customer, noting that Europe and Asia currently account for about 80% of its sales. The purchase will be financed via a combination of internal funds and borrowings, with details to be determined later. However, the deal excludes certain employees of Infineon Thailand, who will not be part of the transfer. Completion of the acquisition is subject to approval from Bank Negara Malaysia for the US dollar payment, while shareholder approval is not required. Before the transaction can be finalised, specific equipment and employees of Infineon Thailand must be transferred back to the sellers. MPI has until June 30, 2026, to complete the deal. For its financial year ended June 30, 2025, MPI posted a 6.45% drop in net profit to RM153.78 million, largely due to the absence of a one-off reversal recorded the previous year. Revenue, however, edged higher to RM2.13 billion. As of June 30, the group maintained a net cash position, with RM467.81 million in cash and RM104.03 million in borrowings. On Thursday, MPI’s shares ended almost unchanged at RM28.54, giving the company a market capitalisation of RM5.69 billion. The stock has gained 10.19% year-to-date.