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Brazilian meat giant JBS S.A. is moving forward with plans to invest in two export-oriented food processing plants in Vietnam, following an announcement made in March. The investment was confirmed during a meeting in Hanoi between Vietnam Customs deputy director Au Anh Tuan and JBS investment director Fabio Maia de Oliveira. The first facility will be built in the northern port city of Hai Phong, followed by a second in Ho Chi Minh City. The initiative aligns with remarks by Brazilian President Luiz Inácio Lula da Silva during his March visit to Vietnam, when he disclosed that a Brazilian company would invest US\$100 million in beef processing in the country. Reuters later identified the investor as JBS, one of the world’s largest meat producers. During the meeting, the JBS executive sought details on customs procedures for importing meat, offal, and by-products from Brazil to Vietnam for processing, with plans to re-export to China and other markets. Tuan assured that Vietnam Customs would provide maximum procedural support, while emphasising the need for compliance with veterinary inspections and sector-specific regulations. He also encouraged JBS to take advantage of Vietnam’s 17 free trade agreements to benefit from preferential tariffs. Founded in Brazil, JBS operates more than 250 facilities worldwide, employs over 280,000 people, and serves customers in more than 180 countries. The investment is expected to bolster Vietnam’s role as a manufacturing and distribution hub for JBS in Asia, while creating substantial job opportunities for the local workforce.

KOTA KINABALU, The Ministry of Domestic Trade and Cost of Living (KPDN) is moving forward with plans to introduce a dedicated law to regulate e-commerce, aiming to create a safer, more transparent, and better-organised digital trade environment nationwide. Deputy Minister Datuk Dr Fuziah Salleh said the proposed legislation will focus on three main pillars: clearly defining industry responsibilities, enhancing enforcement mechanisms, and strengthening protections for both consumers and small businesses. “KPDN is committed to ensuring that Malaysia’s e-commerce ecosystem remains innovative while upholding safety, transparency, and ethical business practices,” she said, calling for cooperation from all stakeholders to achieve these objectives. Her remarks came after chairing the second E-Commerce Legislative Review Engagement Session, which brought together representatives from industry, digital platforms, merchant associations, consumer advocacy groups, legal experts, academics, and government agencies. The engagement was part of the ministry’s effort to update regulations to match the fast-evolving nature of online commerce. Fuziah noted that while e-commerce has become a key driver in Malaysia’s digital economy, rapid growth has also brought risks such as fraud, unsafe products, and cross-border enforcement challenges. Findings from the E-Commerce Legal Review Study have recommended a new legal framework to improve governance, boost consumer trust, and ensure greater industry accountability. KPDN expects to finalise the draft law soon, with the goal of strengthening Malaysia’s position as a trusted and competitive player in the global digital marketplace.

Kakao has officially denied rumours that it is looking to sell its entertainment arm, Kakao Entertainment, following months of market speculation. In a regulatory filing on Thursday, the South Korean internet giant clarified that while it had reviewed potential changes to Kakao Entertainment’s shareholder structure, the review has since been halted. “We reviewed potential adjustments to Kakao Entertainment’s shareholder structure but have decided to discontinue the review,” the company said. “Moving forward, we will continue to explore various strategic options aimed at strengthening Kakao Entertainment’s global footprint and enhancing its overall business competitiveness.” This marks Kakao’s first formal statement addressing widespread speculation that it had informed shareholders — including Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) — of its intention to sell management control of Kakao Entertainment. Kakao Entertainment, a subsidiary of Kakao, operates across multiple segments, including web content production, music distribution, and talent management. The company plays a significant role in Kakao’s efforts to expand into global entertainment markets, and Kakao’s latest statement signals its commitment to retaining and growing the business rather than divesting it.

KUALA LUMPUR, South Korea’s Lotte Corp, through its subsidiary Lotte GRS, is set to bring its popular burger chain Lotteria to Malaysia in partnership with Serai Group Sdn Bhd. The move is part of Lotte’s plan to grow its K-burger presence across Southeast Asia and beyond. The partnership, formalised at the Lotte World Tower in Seoul, marks a major step in Serai Group’s expansion within Malaysia’s food and beverage industry. Under the deal, Serai Group will open 30 Lotteria outlets nationwide over the next five years, starting with the first branch by the end of 2025. The agreement does not allow sub-franchising or operations outside Malaysia. Founded in 1979, Lotteria is among South Korea’s most popular quick-service restaurant brands, with a strong presence in Vietnam, Myanmar, Laos and Mongolia. Its Malaysian debut will focus on adapting the menu to local tastes while maintaining its signature quality. Serai Group, known for brands such as Serai, Jibby & Co and Jibby Chow, sees the venture as more than just launching a new franchise.“This is a chance to offer Malaysians a unique fast-food experience that combines global favourites with local flavours,” said Serai Group managing director Datuk Mohd Najib Abdul Hamid. Lotte GRS chief executive officer Woo-Chul Cha said the company is committed to ensuring Lotteria’s successful localisation and long-term growth in Malaysia.

KUALA LUMPUR, Hyatt Hotels Corporation has opened Park Hyatt Kuala Lumpur, marking the luxury brand’s debut in Malaysia and its 50th property worldwide. Occupying the upper floors of Merdeka 118 — the tallest building in Asia Pacific and the second tallest in the world — the hotel spans levels 75 to 114, offering sweeping views of Kuala Lumpur’s skyline and setting a new standard for luxury hospitality in the city. Permodalan Nasional Berhad group chairman Raja Tan Sri Arshad Raja Tun Uda described the opening as a key milestone for the landmark Merdeka 118 development, calling it part of a legacy project that will boost community growth, national pride, and heritage tourism. “Merdeka 118 will uplift communities and contribute to Kuala Lumpur’s long-term vibrancy under the Warisan KL initiative, which celebrates heritage and revitalises the city,” he said. David Udell, Hyatt’s group president for Asia Pacific, noted that the launch represents a major step in the brand’s global expansion, with Kuala Lumpur seeing three new Hyatt properties open within a year. The “sanctuary in the sky” features 252 rooms, including 27 suites, all with floor-to-ceiling windows and city views. Interiors blend refined elegance with locally inspired art, offering a tranquil setting for both business and leisure travellers. General manager Herman Kemp highlighted the hotel’s location in the historically rich Merdeka 118 precinct, near the vibrant Petaling Street Chinatown. Guests can expect experiences that combine Malaysian culture with Park Hyatt’s signature understated luxury — from local art and design to curated wellness offerings and elevated dining concepts.

KUALA LUMPUR, Able Global Bhd announced today that its executive director and executive chairman, Ng Keng Hoe, has been discharged and acquitted of all alleged corruption charges. On 7 August 2025, the Shah Alam Sessions Court cleared Ng of all accusations under Section 403 of the Penal Code, read together with Section 109, following investigations by the Malaysian Anti-Corruption Commission (MACC) earlier this year. “With the case now concluded, Ng will resume his administrative and executive duties in the company’s operations. Able Group remains committed to maintaining the highest standards of corporate governance and transparency,” the company said.

KUALA LUMPUR, Bursa Malaysia Securities Bhd has issued a public reprimand to MCOM Holdings Bhd for failing to submit its annual audited financial statements (AFS) for the 18-month financial period ended June 30, 2024, by the Oct 31, 2024 deadline. In a filing, Bursa Malaysia said MCOM breached the LEAP Market listing requirements by not releasing the audited statements together with the auditors’ and directors’ reports within the stipulated timeframe. As of now, the AFS 2024 has yet to be announced. The exchange stressed that timely submission of financial statements is a fundamental duty of listed companies, essential for maintaining an orderly and fair market and enabling informed investment decisions. MCOM attributed the delay to a lack of experienced accounting staff, high turnover, and the resignation of its external auditors on Oct 29, 2024, due to unpaid audit fees. However, Bursa said these reasons were unacceptable, noting that listed companies must ensure they have the necessary funds, resources, and qualified finance staff to meet compliance obligations. It added that MCOM failed to take reasonable steps, such as settling the audit fees, to allow the audit to begin and the AFS to be issued on time. Bursa confirmed that de-listing procedures had been initiated but decided to defer them, on the condition that MCOM announces the AFS 2024 by Aug 31, 2025, as promised. The decision also considered MCOM’s appointment of a new auditor on May 21, 2025.

KUALA LUMPUR, Atlan Holdings Bhd has appointed Datuk Lee Kok Khee, the former executive director and head of group equity business at Kenanga Investment Bank Bhd, as its new group chief executive officer, effective immediately. On the same day, Kenanga announced Lee’s resignation, citing his decision to pursue new career opportunities. Lee, 57, brings over two decades of experience from his 22-year tenure at Kenanga, where he held various leadership roles spanning equity broking, equity derivatives, investment banking, corporate finance, fintech and digital ventures. During his time leading Kenanga’s group equity business, the division earned multiple local and international accolades. Under his leadership, Kenanga became the leading structured warrants issuer in Malaysia, while Rakuten Trade Sdn Bhd — a fully digital broking joint venture with Rakuten Securities Inc, co-founded in 2016 — was named Malaysia’s Fintech Company of the Year in 2018. Atlan shares were untraded on Thursday, with the stock last closing at RM2.45 on Wednesday, giving the group a market capitalisation of RM621.44 million. Kenanga’s shares ended flat at 90 sen, valuing the company at RM662.19 million.

KUALA LUMPUR, InvestKL has secured RM2.8 billion in committed investments in the first half of 2025, paving the way for the establishment of five new regional hubs in Greater Kuala Lumpur and creating 1,197 high-skilled job opportunities. The achievement underscores Greater KL’s growing appeal as a preferred location for high-value, innovation-led global services and aligns with Malaysia’s strategy for long-term economic resilience. The latest investments span diverse sectors, including IT infrastructure, consumer healthcare, materials science, financial asset servicing, and renewable energy. These hubs are set to drive regional expansion for global players and further strengthen Malaysia’s standing in the global services value chain. Highlights of the new regional setups include: A Mainframe Centre of Excellence by the world’s largest IT infrastructure services provider, supporting mission-critical systems across core industries. A Global Business Services Hub by a prominent healthcare conglomerate, optimising operations across Southeast Asia. A Multifunctional Regional Hub by a global leader in materials science and digital ID technologies, focused on advanced manufacturing and supply chain innovation. A Centre of Excellence from a top financial services firm, delivering asset servicing, compliance, and IT support. A Digital-First Global Services Hub by a major renewable energy company, advancing green transformation and regional sustainability efforts. “These investments reflect strong and sustained confidence in Malaysia’s fundamentals, and further reinforce Greater KL’s competitiveness as a regional business hub,” said Datuk Muhammad Azmi Zulkifli, CEO of InvestKL. “As global businesses adapt to shifting market dynamics, including trade realignments and increased tariffs, Greater KL offers a future-ready ecosystem built on solid infrastructure, highly skilled talent, and strong government support. We are also seeing an upward trend in AI and digital-driven investments — a clear signal of Malaysia’s commitment to high-value, innovation-centric economic growth,” he added. The 1,197 high-skilled positions span regional, specialist, and support functions, with average executive salaries exceeding RM11,700 per month. To date, InvestKL has facilitated the setup of over 150 global service hubs and the creation of more than 31,000 high-skilled jobs, supporting national aspirations outlined in the Madani Economy Framework, National Investment Aspirations (NIA), NIMP2030, and Malaysia’s broader development plans.

KUALA LUMPUR, Keretapi Tanah Melayu Bhd (KTMB) has announced the appointment of Datuk Ahmad Redza Abdullah as its new chairman, effective this month. In the same statement, the national rail operator also revealed that Ahmad Nizam Mohamed Amin, the current Chief Technical Officer, will serve as acting Group Chief Executive Officer, following the conclusion of Datuk Mohd Rani Hisham Samsudin’s tenure as CEO. Ahmad Redza, a seasoned legal professional with more than 30 years of experience in high-profile litigation and strategic corporate advisory, is expected to enhance KTMB’s governance structure and drive its transformation agenda towards a more forward-looking and sustainable future. “His strong grasp of both the business landscape and regulatory frameworks positions him well to guide the company’s strategic direction and strengthen stakeholder confidence,” KTMB said. Ahmad Redza is the co-founder of the legal firm Shahrizat Rashid & Lee and currently serves as managing partner at REC Legal (Redza Eleena Chong). Meanwhile, Mohd Rani concludes his second term as KTMB’s CEO. He was first appointed in 2017, before departing in 2019 to helm Kontena Nasional Bhd, a subsidiary of MMC Corp Bhd. He returned to KTMB in December 2020, where he was tasked with revitalising the loss-making rail operator. “KTMB expresses its heartfelt appreciation to Datuk Mohd Rani for his dedicated service and hopes he will continue to contribute meaningfully to the broader rail industry,” the company said. Previously, The Edge reported in August 2019 that Mohd Rani’s departure came amid an anonymous complaint submitted to the Ministry of Finance. An internal audit was subsequently conducted, which cleared him of any wrongdoing.