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PETALING JAYA, Penang-based UMediC Group Bhd, known for marketing and distributing medical devices as well as manufacturing its own line of medical consumables, has expanded into medical services with the launch of a new business segment. This move marks UMediC’s vertical expansion within the healthcare sector, leveraging its existing capabilities to strengthen its presence with hospitals and local healthcare providers. The new medical services segment will include a post-recovery care centre, fully equipped ambulance services, and a learning centre offering training workshops to raise public awareness of healthcare and provide professional medical training. UMediC executive director and CEO Lim Taw Seong said the initiative allows the company to deliver a comprehensive range of healthcare solutions while addressing gaps in local healthcare services, such as limited hospital bed availability. From left: Loo, Goh, Ng, Gooi, UMediC executive director and CEO Lim Taw Seong, Muhammad Ghaddaffi and Lau at the launch. “Instead of sending patients home after surgery, we provide a place for post-surgical care, easing the burden on working families. Our ambulance service is also a key growth area, allowing us to offer hospitals complete solutions integrated with our existing medical products,” Lim said. He added that the company sees significant growth potential in this sector, especially with an ageing population, and expects contributions from medical services to rise steadily. UMediC’s manufacturing strength is anchored in its state-of-the-art facility in Batu Kawan Industrial Park. The addition of Plant 2 has expanded total manufacturing space to over 50,000 sq ft, and upcoming ISO 5 cleanroom and blow-fill-seal equipment position the company at the forefront of global medical device production. “Our halal-certified facilities and global footprint in nearly 40 countries enable us to deliver life-saving products that meet the highest standards,” Lim said. As part of its expansion, UMediC is also extending its reach beyond manufacturing by offering direct services to end users. The UMC Learning Centre provides professional medical training, while the UMC Healthcare Centre offers day-care-style care for patients, staffed with trained medical and nursing personnel, including visiting doctors. “Our healthcare centre provides a safe and professional environment for patients during the day, much like how daycare centres support working parents,” Lim explained. The launch event was officiated by Penang State Exco for Youth, Sports and Health Daniel Gooi Zi Sen, Bukit Tambun State Assemblyman and Penang Development Corporation board member Goh Choon Aik, UMediC chairman Datuk Seri Ng Chai Eng, Invest-in-Penang Bhd CEO Datuk Loo Lee Lian, UWC Bhd executive director Datuk Lau Chee Kheong, and Penang MIDA director Muhammad Ghaddaffi Sardar Mohamed.

KUALA LUMPUR, BM Greentech Bhd’s wholly owned subsidiary, Plus Xnergy Services Sdn Bhd, has clinched contracts worth RM95.01 million from Nefin V Power Sdn Bhd to develop a 29.99-megawatt alternating current (MWac) solar photovoltaic (PV) plant. According to a Bursa Malaysia filing, RM64.87 million of the total contract value is allocated for the procurement and supply of machinery, equipment, materials, and tools, including PV panels and mounting structures. The remaining RM30.14 million covers the engineering and construction agreement, which involves the design, engineering, project management, and construction of the solar farm, BM Greentech said. The company expects the project to positively impact its net assets and earnings per share for the financial year ending March 31, 2026, and continuing until the project’s completion, assuming no unforeseen delays.

KUALA LUMPUR, ECM Libra Group Bhd’s wholly owned subsidiary, ECML Hotels Sdn Bhd, will sell two adjoining freehold land parcels in Penang, including an 11-storey hotel with 258 rooms, to Wealthpro Holdings Sdn Bhd for RM51.89 million. According to a Bursa Malaysia filing, the sale proceeds will be used to repay bank loans, fund project developments, support future business expansion, cover working capital needs, and pay related taxes and expenses. The group noted that the disposal will not cause ECM Libra to be classified as a cash company or a PN17 company under listing rules. The disposal forms part of ECM Libra’s ongoing strategy to review its investment portfolio and unlock value for shareholders. Based on the sale price and the property’s audited net book value of approximately RM22.9 million as of Dec 31, 2024, the group expects a one-off pro forma gross gain of about RM29.0 million before estimated taxes and expenses of RM4.3 million. The transaction, subject to all necessary approvals, is expected to be completed by the first quarter of 2026.

KUALA LUMPUR, Singapore-based iFAST Corporation Ltd has secured provisional approval from Bank Negara Malaysia to operate as an electronic money issuer. The approval, granted to its subsidiary iFAST Pay Malaysia Sdn Bhd, will allow the group to hold a money services business licence. iFAST said its initial focus will be on expanding its multi-currency e-wallet, prepaid cards, and cross-border payment offerings. The company also plans to deepen the integration of its digital payment services with its wealth management platform. “Our goal has always been to build a virtuous cycle of investing, earning and now spending, all within one powerful application,” said Lim Chung Chun, chief executive officer and chairman of iFAST Corp. Listed on the Singapore Exchange, iFAST is a digital banking and wealth management platform with more than RM10 billion in assets under administration in Malaysia, and over S$27 billion globally as at June 2025. Dennis Tan, chief executive of iFAST Malaysia, said the new offerings will support instant payments for daily spending and international travel, targeting frequent travellers and expatriates. “We are looking to roll out these solutions over the next year,” he added.

KUALA LUMPUR, Kronologi Asia Bhd has announced plans to acquire Quantum Storage (Hong Kong) Ltd for RM45 million, strengthening its presence in the enterprise data management (EDM) market, particularly in Hong Kong and Taiwan. According to its Bursa Malaysia filing, the deal will be settled through the issuance of up to 40.8 million new shares at 98 sen each, along with a cash payment of up to RM5 million. Kronologi said the purchase price was arrived at on a willing buyer-willing seller basis after arm’s-length negotiations, with payments to be made in stages. The valuation represents a price-earnings multiple of 8.85 times, based on a profit warranty of US$1.2 million (RM5.07 million) for the financial year ending Dec 31, 2017 (FY17). The profit warranty was deemed reasonable, supported by Quantum Storage (HK)’s unaudited net profit of US$580,000 for the first half of FY17 and the company’s future growth prospects within the enlarged Kronologi group. Following the acquisition, Law Chee Yii, who owns 100% equity in Quantum Storage (HK) and was previously a non-substantial shareholder of Kronologi, will emerge with a 12.1% stake in the group. The RM5 million cash portion of the deal will be funded through proceeds raised from Kronologi’s private placement of new shares completed on Aug 25. Kronologi currently operates in Southeast Asia and India. The inclusion of Quantum Storage (HK) will extend its footprint to Hong Kong, Taiwan, and Greater China, regions seen as offering strong growth opportunities amid rising digitalisation and technology adoption. On Monday, Kronologi’s share price slipped 1.02% to 97 sen, valuing the company at RM288.5 million. Year-to-date, the stock has surged 212.9%, and at current levels, it trades at a price-earnings ratio of 23.8 times.

JAKARTA, The Ministry of State-Owned Enterprises (SOEs) and Danantara Asset Management, as shareholders of state railway operator Kereta Api Indonesia (Persero) or KAI, have restructured the company’s board of commissioners and directors to strengthen strategy, drive innovation, and improve service quality. Bobby Rasyidin, previously president director of Len Industri, has been named KAI’s new president director, succeeding Didiek Hartantyo. The appointment follows Indonesia’s new SOE Law No. 1 of 2025, which allows changes in the leadership of SOEs to be made without convening a physical shareholders’ meeting. Instead, appointments and dismissals are formalized through a ministerial decree, which simultaneously serves as a general meeting of shareholders’ resolution. Similar provisions existed under the previous SOE Law No. 19 of 2003 and the Limited Liability Company Law No. 40 of 2007.

Specialty chemicals firm Lubrizol has signed a memorandum of understanding (MoU) with PT Pertamina Lubricants, a subsidiary of Indonesia’s state-owned energy company Pertamina, to explore joint opportunities in the country’s lubricants market. The partnership focuses on technology collaboration, market expansion, and sustainability to support Indonesia’s industrial growth and environmental goals. The MoU was signed on July 24 by Lubrizol Asia Pacific vice president Henry Liu and Pertamina Lubricants president director Werry Prayogi during the opening of Lubrizol’s new office in South Jakarta. Executives from Lubrizol cut a ribbon on July 24 to mark the opening of a new office at Tavera Office Park in South Jakarta. The specialty chemicals producer said it was ready to expand cooperation with local partners in various industries. Werry said the collaboration would enhance Pertamina Lubricants’ capabilities with access to Lubrizol’s advanced formulations. “This partnership reflects our commitment to supporting energy transition and boosting industrial efficiency in Indonesia,” he noted. Liu highlighted Indonesia’s strong growth potential, pointing out that Lubrizol already supplies chemical products to about 80 local partners across industries such as automotive, mining, and footwear manufacturing. “Pertamina is one of our largest partners in Indonesia, but there are many more opportunities across sectors,” he said, adding that footwear is a particular area of focus given the country’s demand for materials like thermoplastic polyurethane. The MoU signing coincided with the official launch of Lubrizol’s new office at Tavera Office Park, TB Simatupang, which will serve as a hub for customer engagement, technical services, and industry collaboration. The move complements the recent opening of the Southeast Asia Innovation Center in Jurong, Singapore, forming a regional network to strengthen Lubrizol’s presence in Southeast Asia. “Indonesia represents diversity, resilience, and potential,” Liu said. “Through this office, we aim to deliver tailored, science-based solutions that empower industries and improve lives, while creating opportunities for collaboration with local partners and innovators.”

KUALA LUMPUR, Maxis Bhd and CelcomDigi Bhd have each injected an additional RM116.67 million into Digital Nasional Bhd (DNB) through their subsidiaries, Maxis Broadband Sdn Bhd and Infranation Sdn Bhd. In a filing with Bursa Malaysia, Maxis said the fresh shareholder advance is intended to support DNB’s ongoing 5G rollout and assist in managing the company’s financial requirements. CelcomDigi, in a separate filing, confirmed that its contribution was made in line with the agreed proportions among DNB’s shareholders, as outlined under the existing shareholders’ agreement. According to Maxis, the additional shareholder advance carries the same rights as those of an ordinary shareholder. This means each ringgit of shareholder advance is entitled to one vote within DNB. Based on the latest equity structure, the Ministry of Finance Inc (MoF Inc) remains the single largest shareholder of DNB, with RM500.1 million in issued share capital and RM250.2 million in shareholder advances, bringing its total contribution to RM750.3 million. This gives MoF Inc a 41.67% stake in the special-purpose vehicle tasked with implementing Malaysia’s 5G network. Meanwhile, Maxis, CelcomDigi, and YTL Corp each hold a 19.44% stake in DNB. Their respective shareholdings comprise RM133,333 in issued share capital, RM233.33 million in shareholder advances, plus the latest RM116.67 million injection. The latest funding move underscores the commitment of Malaysia’s leading telecommunications players to the success of DNB and the country’s broader 5G agenda, which is seen as critical for driving digitalisation, innovation, and future economic growth.

Estonian ride-hailing company Bolt has introduced Bolt Business in Malaysia, offering companies a smarter, hassle-free way to manage employee travel. The service, available with no onboarding fees, features a centralised dashboard and automated reporting tools that remove the need for manual ride claims. Companies can set ride limits, assign cost centres, track usage, and access real-time reports — all from a single account. This helps finance and HR teams streamline expense management, cut down paperwork, and make data-driven mobility decisions. Bolt Business also integrates easily with third-party platforms like Zoho, SAP Concur, Rydoo, and Expensify, enabling seamless adoption into existing expense systems. “Our goal with Bolt Business is to make travel management simple and transparent, while reducing messy claims processes,” said Afzan Lutfi, General Manager of Bolt Malaysia. “This also means more earning opportunities for local driver-partners and a stronger commitment to Malaysia’s business mobility sector.” Fully licensed by the Land Public Transport Agency (APAD), Bolt began operations in the Klang Valley in November 2024. In just three months, it achieved a 540% increase in driver-partners and a 280% growth in registered passengers.

Malakoff Corp Bhd has named Syahrunizam Samsudin as its new group chief executive officer (CEO), effective Sept 1, 2025. He succeeds Anwar Syahrin Abdul Ajib, who is stepping down after nearly five years at the helm, having joined the company as managing director and group CEO in December 2020. The appointment confirms a report by The Edge Weekly (July 28–Aug 3) that Syahrunizam was in discussions with Malakoff for the top role. Malakoff is Malaysia’s largest independent power producer, with an installed capacity of 6,953MW, and a growing renewable energy portfolio of 173MW. Through its subsidiary Alam Flora Sdn Bhd, the group is also a leading waste management operator. Beyond Malaysia, Malakoff has power generation and water desalination operations in Saudi Arabia, Bahrain, and Oman. The company is 38.45%-owned by MMC Corp Bhd, the flagship of tycoon Tan Sri Syed Mokhtar Albukhary. At the close of trading on Thursday, Malakoff’s shares slipped 1.5 sen or 1.58% to 93.5 sen, valuing the company at RM4.65 billion.