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KUALA LUMPUR, The Federal Land Development Authority (Felda) announced that FGV Holdings Bhd (FGV) has been officially delisted from the Main Market of Bursa Malaysia Securities Bhd, effective 9am yesterday. The delisting followed the suspension of FGV’s shares from trading on Aug 25, Felda said in a statement. Felda said the delisting of FGV marks the beginning of a new phase. To date, Felda and its persons acting in concert (PACs) collectively hold 95.29% of FGV’s total shares. Shareholders who did not accept the unconditional voluntary takeover offer still have the right to sell their holdings up to Jan 15, 2026, before 5pm, in line with Felda’s notice to shareholders dated Aug 22. A New Chapter for Felda and Settlers Felda described the delisting as the start of a new phase aimed at strengthening its corporate structure, optimising operations, and boosting economic returns for the organisation and its stakeholders, particularly the settler community. “With FGV no longer listed on Bursa Malaysia, Felda now has full control over the palm oil value chain—from yield management to operating costs. This enables greater productivity, improved cost efficiency, and more consistent returns,” the agency stated. Focus on Long-Term Growth Felda added that a comprehensive restructuring of the Felda Group ecosystem is underway, with the goal of driving sustainable growth, enhancing global competitiveness, and securing long-term welfare for settlers. “Through this restructuring, Felda will be better positioned to strengthen its market standing while ensuring that the prosperity of settlers remains at the heart of its mission,” it said.

KUALA LUMPUR, Duopharma Biotech Bhd has announced the appointment of Wan Amir-Jeffery Wan Abdul Majid as its new group chief executive officer (Group CEO), effective Oct 1, 2025. The company’s chairman, Datin Paduka Kartini Abdul Manaf, said Wan Amir-Jeffery’s leadership journey within Duopharma has been marked by significant contributions at both strategic and operational levels. “I am confident that under his stewardship, Duopharma Biotech will maintain its healthy growth momentum and further strengthen its position as one of Malaysia’s leading pharmaceutical players,” she said in a statement today. Wan Amir-Jeffery brings with him nearly a decade of experience with Duopharma Biotech, having joined the group in September 2016 as chief strategy officer. He steadily rose through the ranks—becoming chief operating officer in 2018, chief commercial officer in 2020, CEO of Commercial in 2022, and CEO of Group Operations in 2024—before taking on the group’s top leadership role. Academically, he holds a Bachelor of Business Administration in International Trade from the University of Central Arkansas, United States, and is an alumnus of the Senior Management Development Program at Harvard Business School, underscoring his strong foundation in global business leadership. Beyond his corporate role, Wan Amir-Jeffery is also active in industry leadership. He currently serves as a vice president of the Malaysian Organisation of Pharmaceutical Industries (MOPI) for the 2025–2027 term, reflecting his wider influence in shaping the pharmaceutical sector in Malaysia. The appointment signals Duopharma Biotech’s commitment to sustained growth and innovation as the company continues to navigate an increasingly competitive healthcare landscape, both domestically and in the region.

KUALA LUMPUR, Lysaght Galvanized Steel Bhd announced that it has secured a significant contract worth S$17.37 million (RM57.07 million) from Singapore-based traffic engineering specialist ATS Traffic Pte Ltd. The deal involves the supply of street lighting poles, further strengthening Lysaght’s presence in the city-state’s infrastructure sector. In a Bursa Malaysia filing on Thursday, the company said the contract will be executed through its wholly-owned subsidiary, Lysaght Marketing (S) Pte Ltd. Deliveries under the agreement commenced in the third quarter of 2025 and are scheduled to run over a six-year period, underscoring the long-term nature of the partnership. This latest win adds to a series of contracts secured earlier this year. In May, Lysaght’s Singapore unit bagged S$6 million worth of orders from Guthrie Engineering (S) Pte Ltd, followed by another S$6.9 million deal from Sing Moh Electrical Engineering Pte Ltd in June. With the new ATS Traffic award, the subsidiary has now secured a total of S$30.27 million (RM99.46 million) in contracts within just a few months, signaling strong demand for its street lighting and traffic-related infrastructure products. Financially, however, the group has faced headwinds. For the quarter ended June 30, 2025, Lysaght posted a net profit of RM1.13 million, more than 50% lower than the RM2.79 million recorded in the same quarter last year. Revenue slipped 19.3% year-on-year to RM19.23 million from RM23.83 million, reflecting softer sales momentum. On the market front, Lysaght’s shares closed three sen higher at RM2.53 on Thursday, giving the company a market capitalisation of RM105.2 million.

JAKARTA, Shell Indonesia said on Wednesday that several of its gasoline products are currently unavailable at stations nationwide due to limited supply, just months after the company announced plans to exit its fuel retail business in the country. President Director Ingrid Siburian confirmed that Shell Super, Shell V-Power, and Shell V-Power Nitro+ are out of stock at multiple outlets, with no date set for restocking. She added that Shell stations remain open, continuing to sell Shell V-Power Diesel as well as providing lubricant sales and workshop services. “We are working to ensure stable fuel distribution in coordination with the Ministry of Energy and Mineral Resources,” Ingrid said in a statement. Energy Minister Bahlil Lahadalia noted that the government has already raised fuel import quotas for private firms. “All private companies received the same quota as in 2024, with an additional 10 percent,” he said, stressing that national energy security remains safeguarded by Pertamina. The shortages come as Shell advances its planned divestment from Indonesia’s fuel retail sector. On May 23, parent company Shell plc agreed to sell its network of around 200 gas stations—including 160 company-owned outlets—to a joint venture between Citadel Pacific Limited and Indonesia’s Sefas Group. The deal, expected to close next year, will not affect Shell’s other businesses in Indonesia, such as its lubricant operations, a grease production facility under development in Marunda, its Gresik fuel terminal, and its 300-million-liter-per-year blending plant. The Shell brand will continue under licensing agreements, with the company supplying fuel to business partners and consumers. The divestment is part of Shell’s global strategy to streamline its downstream portfolio and focus on higher-return assets.

Ranju Alex has been appointed Chief Executive Officer for South Asia at Accor, bringing with her over three decades of hospitality leadership experience. She most recently served as Regional Vice President for South Asia at Marriott International, where she oversaw 170 hotels. Alex began her career with The Oberoi Group in 1993 before moving to Marriott, where she held several senior roles over the years. Her industry achievements have also been recognized with the prestigious Bharat Gaurav award. “We are delighted to welcome Ranju to the Accor and InterGlobe family. She brings extensive experience, proven leadership skills, and a strong professional network. We are confident she will help us build a leading hospitality platform in South Asia,” said Gaurav Bhushan, Chairman of the proposed Accor–InterGlobe joint venture. Commenting on her new role, Alex said: “I am excited to join Accor, which has one of the most diverse and dynamic portfolios of brands in the region. It is an honor to take on this role and drive the Group’s vision in South Asia.” Her appointment comes as Accor deepens its collaboration with InterGlobe, announced earlier this year. The joint venture, subject to regulatory approvals, will consolidate their hospitality businesses into a single structure and accelerate the Group’s expansion in the region.

Kuala Lumpur, Retail Summit Asia 2025 returns for its second year on September 25, rallying over 500 retailers to explore practical ways SMEs can turn customer experience into loyalty and growth. The one day summit at M Hotel, Petaling Jaya, puts customer experience, AI collaboration and unified commerce at the forefront, giving SMEs the edge for next year. Organized by EasyStore, the gathering brings together retailers, business owners, marketers, and ecosystem partners to tackle practical strategies that can be applied immediately. The summit aims to prepare Malaysian retailers to meet rising customer expectations and succeed in an increasingly competitive market. As shoppers demand more personalised, seamless interactions both online and offline, retailers must evolve to keep pace. The summit offers actionable insights into creating unified commerce frameworks that blend physical and digital retail channels for maximum impact. “SMEs are the backbone of Malaysian retail, and they deserve practical strategies they can act on immediately. The summit with customer experience as the core agenda is designed to provide business owners with insights they can use to close the year strong and get ahead in 2026,” said Frost Chen, CEO of EasyStore. The program features success stories such as Jobbie’s journey, Bookcafe’s mission, as well as a fireside chat on “The Jellycat Effect” will explore how collectibles inspire lifelong loyalty, while panels will dive into turning customer experience into powerful marketing, empowering customers as co-creators, and retail technologies that truly work for SMEs. This year’s focus is on practical, actionable strategies retailers can apply immediately – from increasing customer retention through loyalty programs and driving repeat purchases with memberships and smart CX touchpoints. Speakers from brands such as Claire Organics, NOSE, Oriental Kopi, Fortesys, GoFluence, and BrandGeeks will share their approaches to building strong communities, scalable infrastructure, and seamless experiences across ecommerce and offline retail. Whether expanding regionally or building local brand trust, this summit is all about driving retail growth. In addition, the event highlights AI collaborations as a powerful way to boost efficiency and innovation. From smarter marketing tools to enhanced inventory management, AI-driven solutions are becoming essential for retailers seeking to scale and differentiate themselves. This event is supported by Fiuu as Marquee Partner, and Alliance Bank, Ninja Van, SUNMI, and TP-Link as Strategic Partners. Together, they form the ecosystem helping Malaysian retailers innovate, grow smarter, and gear up for 2026. The summit’s first event last year was very well received, with 97% of attendees eager to return, showing its real impact. Registration is open now for those ready to gain insights, tools, and connections to elevate their retail businesses. More information is available at https://retail-summit.asia.

Kuala Lumpur, Malaysia – Controversy is brewing around Bolt Malaysia Sdn Bhd, the company that recently announced the launch of its e-hailing business in the Malaysia. While headlines celebrated another global ride-hailing player entering Malaysia’s competitive mobility scene, questions are now being raised about the legitimacy of its corporate presence here. According to sources, individuals who attempted to visit Bolt Malaysia’s office—listed on its official website as located at the South Tower, Gardens, Mid Valley City—were met with an unexpected response. Upon arrival, the registration desk allegedly informed them that Bolt does not have an office at that location. More worryingly, the same desk staff reportedly said they have had “several” similar encounters, where others—both with and without appointments—had come seeking Bolt Malaysia, only to be told the same: no such office exists here. “We were told straight up that it was a scam, and that this was not the first time people came looking for them,” one visitor told us, speaking on condition of anonymity. The revelation has fueled skepticism about Bolt’s operations, especially given its high-profile announcement just weeks ago. On August 14, 2025, Tech in Asia reported that Bolt had officially launched its business ride-hailing service in Malaysia, positioning itself as a challenger in an already crowded market that includes Grab, AirAsia Ride, and inDrive. The contradiction between its public announcement and the alleged absence of a physical presence at its declared headquarters has sparked questions in the industry: Is Bolt Malaysia a paper company with no real operations on the ground? Why is its official address listed at South Tower if the management there denies its tenancy? Could this be a case of misrepresentation—or a sign of internal disarray in setting up local operations? Bolt, headquartered in Estonia, has been aggressively expanding across markets with its ride-hailing, food delivery, and micro-mobility services. However, its expansion track record has not been without turbulence. In several countries, Bolt has faced regulatory hurdles and pushback from competitors and local authorities. For now, the lack of clarity over Bolt Malaysia’s office raises more questions than answers. While some industry insiders speculate that this could simply be a case of “premature listing” of an intended address not yet finalized, others fear that it signals a deeper problem in how the company is handling its Malaysian rollout. As Malaysia’s e-hailing sector continues to grow—supported by increasing urban demand and post-pandemic mobility recovery—the arrival of new players like Bolt was expected to fuel healthy competition. But with doubts over its local presence, Bolt risks losing credibility before its wheels have even hit the ground. Image source: SME Asia, Hype Malaysia and Malay Mail

KUALA LUMPUR, MARC Ratings has revised the outlook on JB Cocoa Sdn Bhd’s RM500 million Sukuk Wakalah to stable from negative, while affirming its rating at A+IS. The cocoa processor, a wholly owned subsidiary of Singapore-listed JB Foods Ltd, benefits from a corporate guarantee by its parent. MARC’s rating is anchored on JB Foods’ consolidated credit profile, reflecting the group’s close operational and financial integration. The improved outlook reflects JB Foods’ efforts to manage leverage amid elevated cocoa prices, which averaged around US$7,900 per tonne between 2024 and early 2025. Its debt-to-equity ratio eased to 0.99 times as of March 31, 2025, aided by stricter working capital management and reinforced by an RM85.9 million rights issue completed in May. MARC noted that prospects of improved cocoa production in Ivory Coast and Ghana could further ease working capital needs and leverage, though levels remain high. Despite cocoa prices averaging US$7,300 per tonne in July 2025, still far above the 10-year average of US$2,600, expectations of higher supply from the world’s top producers should help stabilise the market. JB Foods has also diversified sourcing to reduce reliance on these two countries. Its Malaysian and Indonesian grinding plants, with a combined capacity of 210,000 tonnes per year, were operating at around 79% and 77% utilisation, respectively, as of end-March 2025. A planned facility in Ivory Coast will add 30,000 tonnes by FY26, though expansion will be paced with demand. For FY25, operating cash flow swung to a positive RM629.9 million from a negative RM200 million in 2023, supported by tighter working capital discipline and stable processing margins. Borrowings declined to RM873.1 million from RM1.2 billion, with liquidity bolstered by RM180 million in unutilised sukuk credit lines and RM930.3 million in additional available facilities. MARC added that while shorter lead times could pose operational challenges, the shift towards smaller, more frequent customer orders should reduce inventory needs and reliance on debt.

KUALA LUMPUR, FGV Holdings Bhd’s upcoming delisting from Bursa Malaysia on Thursday will mark the start of a new phase for the plantation giant as it returns fully under the control of the Federal Land Development Authority (Felda). In a statement, FGV said the move is part of its long-term transformation journey, allowing it to operate with greater flexibility while reinforcing its role as a leading agri-business and Malaysia’s national food company. FGV Holdings Bhd’s delisting from Bursa Malaysia on Thursday is set to mark the beginning of a new chapter for the plantation giant. FGV stressed that its delisting does not signal the end of its growth story since its 2012 listing but rather a strategic step towards delivering stronger and more sustainable value to stakeholders. Current operations, commitments to partners, and community initiatives will continue without disruption. “This is a strategic alignment with Felda that enables us to sharpen our focus on sustainable growth, operational excellence, and long-term value creation. We remain fully committed to advancing with Felda for the benefit of our employees, settlers, and the communities we serve,” said group chief executive officer Fakhrunniam Othman. Once celebrated for staging one of the world’s largest palm oil IPOs in 2012, FGV is now set to be fully delisted at 9am on Aug 28. The exit follows Felda’s acquisition of a 94.97% stake after its takeover offer closed on Aug 15, prompting Bursa Malaysia to suspend FGV’s trading on Aug 22. Felda has also issued a notice to dissenting shareholders, giving them until Jan 15 next year to sell their shares at RM1.30 each. FGV reaffirmed that strong governance, integrity, and transparency will remain central to its future direction. More than 70% of its fresh fruit bunches (FFB) are sourced from Felda settlers and smallholders, with Fakhrunniam describing them as long-term partners in a legacy built on trust and shared responsibility. As it transitions into this new chapter, FGV is also spotlighting the people behind its success. In conjunction with Merdeka and Malaysia Day, it has released Warkah Dari Ladang, a short film honouring plantation workers as the unsung heroes of Malaysia’s agri-business. The film, showcasing the nation’s diversity and unity, will be featured across FGV’s social media channels and official websites.

KUALA LUMPUR, Ivory Properties Group Bhd’s share price remained unchanged at half-a-sen in mid-morning trade on Monday, with 10.63 million shares exchanged, following news of the resignation of its group chief executive officer (CEO) and executive director, Datuk Low Eng Hock. In a filing to Bursa Malaysia on Sunday, the Penang-based property developer announced that Low, 62, officially stepped down from the board on Aug 22, 2025, citing personal reasons for his departure. Low, who has been a key figure in Ivory Properties’ leadership and growth strategy, directly owns 84.54 million shares, representing a 17.25 per cent stake in the company, in addition to an indirect interest of 28.23 million shares, or 5.76 per cent. With his resignation, Low will relinquish all executive and board responsibilities, including his role as group CEO. The company has yet to announce a successor. Bursa Malaysia had earlier suspended trading of Ivory Properties’ securities from 9 am to 10 am on Monday, Aug 25, 2025, in line with regulatory requirements following the announcement. Despite the leadership change, Ivory Properties’ stock showed little reaction, suggesting that investors may already have priced in the news or are awaiting clarity on the company’s next steps in its leadership transition.