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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.

KUALA LUMPUR, Fajarbaru Builder Group Bhd has officially rebranded itself as FBG Holdings Bhd, with the name change taking effect on Friday, Aug 8, 2025, according to an announcement by Bursa Malaysia today. In its statement, the exchange confirmed that the group’s securities will be quoted and traded under the new company name beginning at 9:00 am on the effective date. Alongside the name change, the stock short name will be updated from “Fajar” to “FBG”, marking a new chapter in the company’s corporate identity. Bursa Malaysia also noted that the company’s stock codes will remain unchanged, ensuring a smooth transition for shareholders and market participants. In line with the rebranding, the stock short name for Fajarbaru Builder – Warrants 2021/2026 will also be revised. Effective the same date, it will be updated to FBG-WC. The rebranding reflects the group’s ongoing transformation and potential diversification beyond its traditional construction business, as it aligns with its broader strategic goals and future expansion plans under a unified corporate identity. Investors and stakeholders are advised to take note of the upcoming changes and refer to official Bursa Malaysia channels for any further updates.

PETALING JAYA, XOX Technology Bhd has announced the appointment of Mohd Effendi Mat Aris, 38, as its new Chief Executive Officer, effective immediately. He takes over the role from Azril Aliuddin, who stepped down in May last year to pursue other professional commitments. In a filing with Bursa Malaysia, the company highlighted Mohd Effendi’s extensive experience spanning more than two decades across the public sector, private enterprises, and non-governmental organisations. His diverse background is expected to bring a fresh strategic perspective to the group as it continues to expand its footprint in the technology and digital services space. Prior to joining XOX, Mohd Effendi served as the Deputy Head of the Intelligence Section at the National Anti-Financial Crime Centre (NFCC), operating under the Prime Minister’s Department. In this capacity, he was responsible for coordinating intelligence efforts and inter-agency enforcement operations aligned with Malaysia’s anti-money laundering and counter-financing of terrorism (AML/CFT) initiatives. His leadership at NFCC was marked by significant contributions to the development of Malaysia’s financial crime intelligence network and collaborative frameworks between enforcement bodies. In addition to his new role at XOX, Mohd Effendi was recently appointed as an Independent Non-Executive Director of Heitech Padu Bhd on July 25, further underscoring his growing presence in Malaysia’s corporate sector. XOX said it looks forward to leveraging Mohd Effendi’s expertise and leadership to drive innovation, improve operational efficiency, and explore new growth opportunities for the group.

KUALA LUMPUR, The Ministry of Plantation and Commodities (KPK), through the Malaysian Rubber Board, is currently reviewing the need to increase budget allocations for the development of new rubber planting areas—particularly in hardcore poverty regions such as Ranau. In a written parliamentary response published on the Dewan Rakyat portal today, the ministry stated that several proactive initiatives are already underway. These include identifying suitable land, providing agricultural input support and high-quality rubber seedlings, implementing group-based rubber cultivation programmes, and offering technical training and guidance to participating smallholders. KPK reaffirmed its commitment to assisting small-scale farmers, especially those in the Ranau district. “From 2021 to 2024, with the Sabah Rubber Industry Board serving as the implementing agency, a total of 19 planting blocks were established in Ranau, involving 324 participants and covering 1,011.36 hectares. These efforts were supported by a total allocation of RM19.21 million,” the ministry noted. The reply was in response to a query from Datuk Jonathan Yasin (GRS–Ranau), who raised concerns about the need for additional funding to help smallholders in the district expand cultivation of cocoa, oil palm, and rubber as a strategy to combat extreme poverty. Regarding the palm oil sector, KPK said the proposal to offer financial assistance for land development and provide targeted subsidies for smallholders is still under review. As for cocoa, the ministry recognised Ranau as a high-potential cultivation area and one of Malaysia’s key cocoa-producing districts. Among the initiatives currently being implemented by the Malaysian Cocoa Board are the new cocoa planting programme—under which applications for over 500 hectares have been received to date—various ongoing development activities, and the Cocoa Cluster Complex in Ranau, which is expected to be completed this year. KPK expressed confidence that these integrated efforts would contribute to gradually reducing the rate of extreme poverty in Ranau and other targeted rural areas.

ESG is often dismissed as something only large corporations can afford. But in Malaysia, where over 97% of all businesses are SMEs, that logic no longer holds, and in fact, may be holding them back. From family businesses to homegrown startups, or even regional brands, sustainability is becoming a business necessity, not a luxury. The Institute of Chartered Accountants in England and Wales (ICAEW) plays a large part in translating this transition into tangible business terms. By quantifying savings and projecting returns, the organisation helps businesses future-proof operations — not through hype, but through hard numbers. ICAEW supports this shift by equipping businesses and finance professionals with the tools, training, and data-driven insights needed to quantify sustainability risks, measure returns, and embed ESG into long-term strategy. For Malaysian businesses, sustainability is not the cost — it is the payoff.   Here are 10 data-backed insights, each paired with a clear business rationale, showing how ESG drives results at any scale.   1.    ESG reporting rules will soon impact SMEs across the supply chain Bursa Malaysia now requires large, listed companies to adopt ESG disclosures, starting from financial year 2025. While most listed companies are not SMEs, this mandate will cascade through procurement chains, prompting thousands of SMEs to align with ESG standards if they wish to remain competitive vendors. Companies that act early will be better positioned to retain key contracts, access green capital, and maintain investor trust.   2.    More SMEs are embracing ESG as a growth strategy A growing number of Malaysian SMEs are embracing ESG not just for compliance, but as a growth driver. For those already taking action, the commercial returns are starting to show. According to a recent study, 60% of SMEs have adopted ESG practices, up from just 28% two years ago. Among these adopters, 38% reported revenue growth exceeding 50%, driven by improved market access and customer demand.   3.    But few have embedded it into core operations While awareness is rising, many Malaysian SMEs have yet to embed ESG into their core operations. A study found that only 19% of SMEs have adopted environmentally friendly production processes, and just 12% are involved in structured social responsibility programmes. This gap shows the opportunity for early movers to lead the transition.   4.    Solar isn’t just green, it’s cost-efficient One key area where ESG delivers fast returns is energy. Malaysian businesses now benefit from incentives like 100% investment tax allowance, soft loans under the Green Technology Financing Scheme, and the Net Energy Metering (NEM) programme. Local companies have cut electricity costs by nearly half, with some saving up to 75% after switching to rooftop solar.   5.    Sustainability drives customer loyalty and willingness to pay Consumers are increasingly voting with their wallets. Businesses that can demonstrate environmental responsibility are more likely to attract and retain customers as well as command a price premium. According to the Malaysian Green Technology and Climate Change Corporation, 78% of Malaysian consumers consider a product’s environmental impact before making a purchase.   And the business case doesn’t stop there. Beyond regulatory pressure, revenue growth, and energy savings, ESG also opens doors to financing, talent retention, and long-term resilience. The following insights show how sustainability strategies are delivering measurable returns across different parts of the business.   6.    Banks are unlocking ESG access through green finance Banks are increasing sustainable lending, making ESG investments more accessible for Malaysian businesses. CIMB Group had mobilised RM86.2 billion in sustainable finance. Maybank reported RM83.2 billion in sustainable financing as of mid-2024, surpassing its RM80 billion goal set for 2025. RHB Bank disbursed RM23.8 billion and raised its target to RM50 billion by 2026.   7.    ESG is becoming a driver of talent attraction and retention Employees now expect more than pay—they want purpose and meaning from their work. A global IBM study found that over 70% of employees say they’d be more likely to apply for or accept a job with a company they consider environmentally or socially responsible, and around 35% of those who switched jobs last year did so to work for such companies.   8.    ESG readiness protects export competitiveness International buyers are raising the bar on climate standards. With the EU’s Carbon Border Adjustment Mechanism (CBAM) phasing in from 2026, Malaysian exporters will need to track and report their carbon footprint to avoid penalties. ESG compliance is becoming essential for protecting access to international markets. According to the Securities Commission, 75 percent of Malaysia’s exports to the EU could be affected, even though the EU accounts for just over 8 percent of total exports.   9.    Greening supply chains saves millions in disruption  Climate risks, labour shortages and tightening ESG standards are creating vulnerabilities across global supply chains. Companies that adopt sustainable procurement practices and build resilience into their supply chain operations are better able to avoid revenue loss and delivery delays. Malaysia’s economy is losing an estimated RM8.7 billion each year to supply chain disruptions. ESG-aligned businesses can mitigate these risks while maintaining competitiveness and customer trust.   10.  ESG signals long-term business strength to investors Investors are prioritising companies with credible sustainability credentials, viewing them as more resilient, compliant, and better positioned for long-term growth. ESG performance is increasingly seen as a proxy for risk management and future-readiness. For SMEs seeking funding, this shift is especially relevant, ESG alignment isn’t just a moral imperative, it’s a competitive edge in attracting capital. In Malaysia, Sustainable and Responsible Investment (SRI) fund assets grew from RM7.05 billion in 2022 to RM7.7 billion in 2023, reflecting growing investor appetite for businesses that take ESG seriously. While this isn’t exponential growth, it marks a consistent upward trend in capital flowing into sustainability-focused investments — a signal SMEs can’t afford to ignore.