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SEOUL, Park Jin-young, the founder and chief producer of JYP Entertainment, has been appointed to a ministerial-level role on South Korea’s newly launched presidential committee aimed at promoting K-pop and cultural exchange, the presidential office announced on Tuesday (Sept 9). Park, a renowned singer-songwriter and executive, will serve as co-chair of the Commission on Pop-Culture Exchange alongside Culture Minister Chae Hwi-young. According to presidential chief of staff Kang Hoon-sik, the committee will focus on expanding the global reach of South Korean culture while also introducing more international cultural content into Korea. He highlighted Park’s pivotal role in pushing K-pop into overseas markets, noting, “Park has been at the forefront of taking K-pop to the United States and is now seen as a symbolic figure in the globalisation of the industry.” In a social media post, the 53-year-old Park expressed his commitment to advocating for stronger government support for K-pop and creating more opportunities for artists. President Lee Jae Myung also announced several other key appointments on Sept 9. These include former government legislation minister Lee Seog-yeon to lead the Presidential Committee of National Cohesion, and former lawmaker and architect Kim Jin-ai to head the Presidential Commission on Architecture Policy. Attorney We Chul-whan was named chief of the National Election Commission. At the vice-ministerial level, Lee appointed former lawmaker Kim Kyung-hyup as head of the Overseas Korean Agency, while veteran civil servants Jung Goo-chang and Cho Sung-joo were named vice-minister of gender equality and family and senior presidential secretary for personnel affairs, respectively.

KUALA LUMPUR, Affin Bank Bhd has officially appointed Hanif Ghulam Mohammed as the new chief executive officer of its investment banking division, Affin Hwang Investment Bank Bhd, effective immediately. Hanif Ghulam Mohammed has been appointed as the new CEO of Affin Hwang Investment Bank Bhd, with immediate effect. The announcement confirms earlier reports by The Edge Malaysia from August, which had indicated that Hanif was the frontrunner for the role. He succeeds Nurjesmi Mohd Nashir, who stepped down in May and later joined RHB Bank Bhd as head of wholesale banking in July. Hanif brings over 20 years of experience in the banking sector, particularly in treasury and capital markets. Prior to this role, he served as executive director of Group Treasury at Affin Bank since December 2021 and currently sits on Bank Negara Malaysia’s Financial Markets Committee, where he also chairs the Islamic Financial Markets Subcommittee. His career highlights include senior positions such as regional head of Islamic treasury and director of fixed income, giving him deep expertise in debt capital markets and Islamic finance. “Hanif’s appointment reflects our commitment to driving strategic growth and excellence within Affin Hwang Investment Bank amid a dynamic investment banking landscape,” said Datuk Wan Razly Abdullah, president and group CEO of Affin Group. “His extensive experience, treasury and debt capital markets expertise, and leadership in advancing Malaysia’s Islamic financial markets position him well to guide our investment banking arm forward. With Hanif at the helm, we are confident in our ability to strengthen market presence, innovate, and deliver sustainable value to clients, shareholders, and stakeholders as part of our AX28 Strategic Plan,” he added.

PETALING JAYA, Econpile Holdings Bhd has secured a RM54 million contract, marking a significant boost to its order book and expanding its footprint in Malaysia’s construction sector. According to a filing with Bursa Malaysia, the project involves and is expected to contribute positively to the group’s earnings for the financial year. “This contract win underscores Econpile’s expertise in handling complex construction projects,” said a company spokesperson. “We are committed to executing the project efficiently, safely, and within the set timeline, delivering maximum value to our clients.” Analysts said the award demonstrates Econpile’s strong position in the local construction market, particularly in high-value engineering projects, and adds momentum to the company’s growth strategy. The project is scheduled to begin in the coming months, subject to regulatory approvals and project milestones.

PETALING JAYA, LFG Bhd has announced plans to dispose of one of its vessels for RM28 million as part of its ongoing strategy to streamline operations and optimise its asset portfolio. In a filing with Bursa Malaysia, the company said the disposal involves a sale to a third-party buyer on an arm’s-length basis. The proceeds from the transaction are expected to strengthen the company’s balance sheet and support working capital requirements. LFG, which operates in the shipping and logistics sector, said the move is in line with its efforts to focus on high-yield and strategic assets while divesting non-core or ageing vessels. “Disposing of the vessel allows us to redeploy resources more efficiently and enhance operational efficiency,” said a company spokesperson. The company did not disclose the buyer’s identity but confirmed that the transaction is expected to be completed in the current financial quarter, subject to the fulfillment of conditions precedent. Analysts view the sale as a prudent move that could improve LFG’s cash position and provide flexibility for future growth initiatives.

PETALING JAYA, Analysts remain positive on the outlook of Solarvest Holdings Bhd, pointing to a combination of supportive government policies, new project wins, and a steadily diversifying business model as key growth drivers. According to Maybank Investment Bank Research (Maybank IB), the renewable energy player stands to benefit significantly from policy tailwinds under the large-scale solar 5 (LSS5) initiative and the rising adoption of corporate power purchase agreements (PPAs), which are increasingly being used by companies to secure sustainable and cost-efficient energy. The research house also highlighted Solarvest’s growing project pipeline and its strategic shift into project ownership, a move that not only diversifies revenue streams but also enhances long-term earnings visibility. Regional expansion efforts further support the group’s trajectory of growth beyond the Malaysian market. “In addition, we understand that Solarvest is also actively bidding for contracts in the battery energy storage systems (BESS) segment. The outcome of these awards, which are expected to be announced in October, could provide another meaningful boost to its order book,” Maybank IB said. On the project front, Solarvest recently achieved a milestone after securing a successful bid under the Energy Commission’s LSS5+ exercise. Through a consortium in which Solarvest holds a 20% stake alongside Malakoff Corp Bhd (80%), the group will undertake the development of a 470MW alternating current solar plant in Perak. This project is expected to significantly strengthen Solarvest’s standing in the domestic renewable energy market. Reflecting these developments, Maybank IB reiterated its “buy” recommendation on Solarvest. The research firm also revised its target price upward to RM2.90 from RM2.64, factoring in the contribution from the company’s stake in the large-scale Perak project. Analysts note that with its diversified approach spanning engineering, procurement, construction, project ownership, and new ventures into energy storage, Solarvest is positioning itself not just as a solar engineering contractor but as a more holistic renewable energy solutions provider. This transition is seen as vital in ensuring the company remains competitive and well-placed to capture opportunities in the region’s accelerating clean energy push.

Oravel Stays Limited, the parent company of OYO, today announced it rebrand to PRISM, a new corporate brand name that reflects the company’s expanded global portfolio and long-term vision. Founded in 2012 by Ritesh Agarwal, OYO began as a budget travel-tech brand, standardizing and organizing small hotels by using technology, to make affordable, trusted stays accessible worldwide. Over recent years, OYO has expanded well beyond its Indian budget hotel mainstay into multiple countries, premium hotels, vacation homes and more. The company has scaled into a diversified global travel-tech, hospitality and living ecosystem serving more than 100 million customers across 35+ countries. The group’s portfolio today spans hotels under the brands such as OYO, Motel 6, Townhouse, Sunday and Palette. In the vacation homes segment, it operates brands such as Belvilla, DanCenter, CheckMyGuest, Studio Prestige etc. The extended stay category is represented by Studio 6, acquired through G6 Hospitality in the U.S. Additionally, the portfolio encompasses workspaces and celebration spaces, offered through Innov8 and Weddingz.in. The group also offers hospitality technology solutions, including AI-driven partner tools and data science platforms. The name PRISM represents clarity, diversity, and the full spectrum of brands within the company’s ecosystem. The OYO brand will continue to serve as the highly recognisable, consumer-facing identity for budget travel, a space it has defined and clearly marked its solid impression globally. PRISM, in turn, assumes the role of the parent company brand, uniting a diversified ecosystem that spans technology solutions, premium hospitality, extended-stay residences, celebration venues, luxury getaways, and experiential living concepts, besides its core of budget hospitality. At the foundation of this architecture lies a powerful hospitality technology engine, which continues to propel the group’s growth through deeper investment in data science, artificial intelligence, advanced optimisation tools and innovations designed to enhance partner yields, elevate customer experiences and unlock efficiencies at scale across geographies. This strengthens the company’s ability to enter new categories and geographies with clarity and impact. “The transition to PRISM marks the establishment of a future-ready corporate architecture designed to align our expanding portfolio with our long-term vision,” said Ritesh Agarwal, Founder & Group CEO, PRISM. “PRISM is powered by a strong technology engine, deeper investment in data science and AI, and a commitment to helping our partners grow profitably while delighting customers worldwide.” Carmen Lam, Owner of Hotel O Asia City added “Our journey with OYO has been marked by trust, transparency, and consistent growth. With the launch of the new corporate entity, PRISM, we are excited to deepen this partnership and look forward to accelerating our growth together in the Malaysian market.” The new corporate brand name PRISM was chosen following a global public naming competition that attracted more than 6000 submissions.

PropertyGuru Group, Southeast Asia’s leading proptech company, has appointed Lu Yao as its new managing director for Singapore, effective 15 September. In this role, he will oversee the growth of PropertyGuru’s marketplace business in Singapore, shaping strategies that deliver greater value to property seekers and industry partners. Lu Yao will join the group’s executive leadership team (XLT) and report directly to chief executive officer Lewis Ng. Lu Yao, managing director, Singapore at PropertyGuru. He brings with him extensive experience in e-commerce and marketplaces, with a proven record in driving growth, building operations, and leading large teams across Asia. Most recently, he served as group head of marketplace and chief commercial officer for Bangladesh at Daraz Group (Alibaba International Digital Commerce), where he spearheaded the company’s commercial strategy in South Asia and led growth transformation in Bangladesh. Prior to that, Lu Yao led Shopee Singapore’s FMCG cluster and mall, developing its retail and last-mile delivery businesses from the ground up. Earlier in his career, he worked as a management consultant at McKinsey & Company in China, advising on strategy and organisational transformation, and contributed to R&D innovation at Dow Chemicals in the United States. As managing director, Lu Yao will be responsible for driving business and growth strategies, leading the commercial and sales teams, mentoring the country leadership team, and overseeing operations in Singapore. His role within the XLT will also see him contribute to shaping PropertyGuru’s wider regional strategy. CEO Lewis Ng welcomed the appointment, saying: “Lu’s expertise in marketplaces and his ability to scale businesses with a customer-first approach will be crucial for our next phase of growth. We are delighted to have him on board as we continue to innovate and deliver meaningful solutions for property seekers, agents, and partners in Singapore.” Commenting on his appointment, Lu Yao said: “PropertyGuru has redefined how people across Singapore and Southeast Asia find their dream homes. I am honoured to join the team and look forward to building on that legacy, strengthening trust with property seekers and partners, and driving the next chapter of growth and innovation in the proptech space.”

PETALING JAYA, Abu Sahid Mohamed, the executive chairman of Maju Holdings Sdn Bhd, has been slapped with 17 charges involving both criminal breach of trust (CBT) and money laundering, linked to the troubled Maju Expressway Extension (MEX II) project. The 74-year-old businessman, who arrived in a wheelchair, was brought before Kuala Lumpur Sessions Court judge Suzana Hussin, where he claimed trial to four CBT charges involving more than RM313 million in company funds as well as 13 money laundering charges amounting to RM139 million. Abu Sahid Mohamed claimed trial to four charges of CBT and 13 of money laundering.  According to the charge sheet, Abu Sahid is accused of committing the CBT offences between 2016 and 2019, when he allegedly misused Maju Holdings’ funds entrusted to him for corporate purposes. The offences fall under Section 409 of the Penal Code, which carries a sentence of two to 20 years in prison, whipping, and a fine upon conviction. In addition, prosecutors alleged that Abu Sahid engaged in money laundering activities during the same period, channeling over RM139 million in illicit proceeds into various personal and company accounts. These offences were framed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 (AMLA). If found guilty, he faces up to 15 years in prison and a fine of at least RM5 million for each count. Deputy public prosecutor Ahmad Akram Gharib requested bail of RM1.5 million and the surrender of Abu Sahid’s passport, stressing the seriousness of the charges and the large sums of money involved. Defence counsel Hisyam Teh Poh Teik, who represented Abu Sahid, did not object to the bail amount and conditions. Judge Suzana then fixed bail at RM1.5 million with additional conditions, and set Nov 3 for case mention. The MEX II project, a proposed extension of the Maju Expressway to connect Putrajaya and Cyberjaya, has long been mired in controversy due to financing issues and stalled construction, and this latest development casts further scrutiny on Maju Holdings’ management of funds.

KUALA LUMPUR, Malaysia Airlines Bhd (MAB) has successfully regained its three-year air operator certificate (AOC) from the Civil Aviation Authority of Malaysia (CAAM), a year after the validity was cut to one year due to operational concerns. The airline’s chief operating officer, Nasaruddin Bakar, said the approval followed an audit carried out two months ago. “We completed the audit recently, and over the past 12 months, Malaysia Aviation Group (MAG) and Malaysia Airlines have made significant improvements, particularly in strengthening safety standards,” he said at an event held at the Malaysia International Trade and Exhibition Centre. Nasaruddin added that MAG has stepped up recruitment efforts to tackle staff shortages, especially in the engineering division, to further support operational stability. In August last year, CAAM reduced the validity of Malaysia Airlines’ AOC from three years to one, citing frequent flight delays and scaled-back routes amid operational difficulties. Transport Minister Loke Siew Fook had said then that the airline was required to submit monthly reports detailing progress on its operational recovery plan. He also revealed that CAAM’s investigation into Malaysia Airlines and its subsidiary, MAB Engineering Services, highlighted manpower shortages and technical component issues as key factors behind recurring technical problems. The departure of 63 skilled staff from MAB Engineering Services, which oversees the airline’s aircraft maintenance, was also flagged as a contributing factor to the challenges in strengthening its safety management system.

KUALA LUMPUR, Symphony Life Bhd has announced the appointment of PKF Plt as its new external auditor, effective Sept 4, following the resignation of its previous auditor, Ernst & Young Plt, on Aug 29. In a filing with Bursa Malaysia, the company said PKF had consented to take on the role and would now serve as the official auditor for Symphony Life moving forward. The appointment ensures continuity in the company’s audit functions and reflects its commitment to maintaining strong governance practices and transparent financial reporting. Symphony Life Bhd has appointed PKF Plt as its new external auditor effective today, following Ernst & Young Plt’s resignation on Aug 29. Symphony Life’s managing director, Datuk Kenneth Vun, reassured stakeholders that the group’s transformation plan remains firmly on track despite the recent changes in its auditor and management team. He emphasised that the company’s ongoing efforts are centred on reinforcing governance standards, enhancing financial leadership, and strengthening operational discipline to deliver long-term growth. Vun added that Symphony Life is prioritising measures to ensure the company remains resilient and well-positioned to navigate the evolving market landscape. He stressed that the changes form part of a broader strategy to drive operational improvements, instil greater accountability, and build investor confidence. “The transition in our auditor, alongside the management changes, aligns with our focus on transforming Symphony Life into a stronger, more agile organisation. We remain fully committed to executing our business strategies and delivering sustainable value to our shareholders,” Vun said. The group has been actively implementing its transformation initiatives, aiming to sharpen its focus on governance, risk management, and financial discipline, while also seeking opportunities to strengthen its property development portfolio and improve overall operational efficiency.