News

PUTRAJAYA: The Court of Appeal has dismissed the application by Hydroshoppe Sdn Bhd and its subsidiary Menara Kuala Lumpur Sdn Bhd to obtain an ad interim injunction aimed at halting the transfer of the Menara Kuala Lumpur concession to LSH Service Master Sdn Bhd. The decision was delivered yesterday by a three-member judicial panel comprising Datuk Collin Lawrence Sequerah, Datuk Dr Choo Kah Sing, and Datuk Wan Ahmad Farid Wan Salleh. Justice Sequerah, delivering the unanimous ruling, stated that the appellants failed to meet the legal threshold required for the granting of such an injunction. “We believe there is no status quo to maintain because the fifth supplementary agreement expired on 31 March this year,” said Sequerah. As part of the ruling, Hydroshoppe and Menara Kuala Lumpur were ordered to pay RM30,000 in legal costs to the respondents, which include the Ministry of Communications, Communications Minister Datuk Fahmi Fadzil, the Government of Malaysia, LSH Service Master Sdn Bhd, LSH Best Builders Sdn Bhd, and Service Master (M) Sdn Bhd. The appeal was filed against an earlier High Court decision in April, which also rejected the application for an ad interim injunction. Hydroshoppe and Menara Kuala Lumpur have initiated a breach of contract lawsuit against the respondents. They allege that LSH Service Master and its affiliated companies provided dishonest assistance leading to a breach of a contractual agreement reached with the government during a meeting held in August 2022. The companies are seeking damages estimated at RM1 billion and are calling for the transfer of the Menara KL concession to be declared null, void, and unlawful. They also seek for the concession of the iconic Kuala Lumpur landmark to be reinstated under their management. The High Court is scheduled to hear the inter parte injunction application on 9 June, while the ex parte contempt application filed by the companies is set for hearing on 5 June. During the proceedings, Hydroshoppe and Menara Kuala Lumpur were represented by counsel Vinayak Sri Ram. Senior Federal Counsel Ahmad Hanir Hambaly @ Arwi appeared for the Ministry of Communications, Minister Fahmi Fadzil and the federal government. Datuk Malik Imtiaz Sarwar acted on behalf of LSH Service Master, LSH Best Builders, and Service Master (M). -Bernama

KUALA LUMPUR: Village Grocer officially open its 33rd supermarket outlet, located in new suburban area Myra Park, Nilai. This new location will provide local community with green spaces and social areas. Nilai marks another milestone for Village Grocer, as the brand continues to expand its footprint and bring its premium grocery offers to communities beyond Klang Valley. Strategically situated within modern residential area Myra Park Marketplace in Nilai, the new Village Grocer location will serve as a one-stop destination for discerning shoppers seeking the freshest produce, high-quality meats, artisanal baked goods, and a wide selection of specialty and gourmet items. “At Myra Park, we focus on elevating daily living through well-designed spaces and convenient amenities. Myra Park Marketplace will play a key role in enhancing the overall township experience for both residents and visitors,” said Mr. Kim Lin Teng , Chief Executive Officer of CHJ Property . The Food Purveyor’s Group Executive Chairman, Mr. Ong Kim Too , expressed his delight in inaugurating their newest supermarket location at Myra Park Marketplace, Nilai. He conveyed the company’s pride in being recognised and accepted by Oriental Interest Berhad. “We’ve been looking forward to our new supermarket opening in Nilai as we continue to grow beyond Klang Valley. This new establishment aims to enhance the shopping experience for the Nilai and its surrounding residences, and we are glad to be part of the community here”. The Food Purveyor’s Chief Executive Officer, Mr. Kok Kian Kee shared that Nilai marks an important milestone as Village Grocer continues to grow and expand its reach beyond Klang Valley. “We believe in bringing exceptional grocery experience closer to home, convenient and within reach. We eliminated the need to travel the distances to access to fresh and quality groceries for your family”. As a homegrown brand, Village Grocer is committed to giving back to local communities. It actively supports and source from local farmers, small businesses, and local brands. Village Grocer is also passionate about sustainability and has set a goal to be plastic-free. Its environmental, social and governance efforts have earned Village Grocer several awards. -PR Newswire

KUALA LUMPUR: Capital A Berhad has reported a strong financial turnaround, posting a net profit of RM689.57 million for the first quarter ended 31 March 2025. This marks a significant recovery from the net loss of RM91.55 million recorded in the same period last year. According to its filing with Bursa Malaysia, the group’s revenue from continuing operations rose to RM414.52 million, up from RM359.76 million previously. This growth was primarily driven by improved performance across its non-aviation businesses. Capital A is currently undertaking the divestment of its aviation business to AirAsia X Berhad, with the transaction expected to be completed by the third quarter of 2025. The group said the move would enable its non-aviation segments, such as Asia Digital Engineering and Teleport, to accelerate their growth plans. These efforts are supported by increasing demand and targeted capital-raising initiatives. The company had previously stated that it was on track to complete its proposed regularisation and restructuring plan by June 2025. This follows continued progress in meeting key regulatory, financial, and operational milestones. Capital A had aimed to exit its Practice Note 17 (PN17) status by May, having secured approvals from both its shareholders and the High Court for its regularisation plan. -Bernama

KUALA LUMPUR: Proton Holdings Berhad has announced the appointment of Ainol Azmil as covering Deputy Chief Executive Officer, effective 10 June 2025. Ainol will assume the responsibilities of Roslan Abdullah, who departs after five years of service in the role. He will report directly to Group Chief Executive Officer, Dr Li Chunrong. Proton confirmed that Ainol will concurrently retain his current responsibilities in corporate strategy and group technical procurement. In a statement, the company acknowledged Roslan’s contributions, noting his role in strengthening Proton’s position as a leading automotive brand in Malaysia. He also played a significant part in the group’s entry into the electric vehicle segment through the launch of its inaugural EV model, the Proton e.MAS 7. “Proton welcomes Ainol to the role of covering Deputy CEO. We are confident in his ability to carry out this temporary appointment,” the company said. -Bernama

KUALA LUMPUR: Axiata Group Berhad has announced the appointment of Didi Syafruddin Yahya as an Independent Non-Executive Director, effective 1 June 2025. The appointment reflects Axiata’s commitment to financial excellence, strategic growth, and strong corporate governance in a rapidly evolving digital and telecommunications landscape. In a statement issued today, the group highlighted Didi Syafruddin’s proven expertise in investment strategy, risk management, and financial transformation as pivotal to Axiata’s continued progress. The board expects his contribution to play a key role in driving the company’s long-term growth and sustainability agenda. Didi Syafruddin currently serves as President Commissioner of PT Bank CIMB Niaga Tbk and as Senior Independent Director at CIMB Group Holdings Berhad. He has played a significant role in enhancing board governance, refining risk frameworks, and steering financial strategy across institutions. His distinguished career spans more than 30 years, with leadership positions at JP Morgan in Malaysia and Indonesia, Morgan Grenfell, and Arthur Andersen & Co. His extensive background in investment banking and strategic financial management underpins his reputation as a leader in financial sustainability and risk oversight. He holds a Master of Arts from the University of Cambridge and is a Fellow Chartered Accountant with the Institute of Chartered Accountants in England and Wales. Axiata Chairman Tan Sri Shahril Ridza Ridzuan welcomed the appointment, stating that Didi Syafruddin’s broad leadership experience and financial acumen would be invaluable to the group’s forward strategy. “We are delighted to welcome him and look forward to his contributions,” he said. Group Chief Executive Officer and Managing Director Vivek Sood noted that the appointment comes at a pivotal moment, as Axiata undergoes transformation and simplification across its portfolio. -Bernama