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KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has seized assets worth RM32 million from a highway concessionaire bearing the title ‘Tan Sri’, as part of its investigation into the alleged misappropriation of sukuk funds allocated for highway construction in the Klang Valley. According to sources, MACC’s Investigation Division conducted searches at two residences in the capital, confiscating 217 luxury watches valued at RM5 million, 27 high-end handbags worth over RM1 million, and RM4 million worth of jewellery. Nine luxury vehicles, including models from Bentley, Mercedes-Benz, and Range Rover, estimated to be worth RM7 million, were also seized. Additionally, MACC uncovered a luxury liquor collection believed to be linked to money laundering activities, valued at approximately RM3 million. A high-end residential property in the capital, worth around RM12 million, was also seized. The seizures were made under the MACC Act 2009 and the Anti-Money Laundering and Anti-Terrorism Financing Act (AMLA) 2001 as investigations continue.

KUALA LUMPUR: Bursa Malaysia Securities Berhad has issued a consultation paper inviting public feedback on proposed amendments to its Listing Requirements (LR) for the Main Market, ACE Market, and LEAP Market. The amendments aim to align the LR with the Companies (Amendment) Act 2024, which now extends corporate rescue mechanisms—namely judicial management (JM) and corporate voluntary arrangement (CVA)—to listed issuers. The Exchange proposes mandatory disclosure of material information on JM and CVA to enhance transparency and keep investors informed. Additionally, Bursa Malaysia is proposing an exemption for certain joint venture transactions from being classified as related party transactions, provided specific safeguards are met. This aims to strike a balance between investor protection and business efficiency. The proposed changes reflect the Exchange’s continued efforts to maintain a relevant and balanced regulatory framework in response to market developments. The public can review the full consultation paper and submit comments by 10 July 2025 via Bursa Malaysia’s website.

KUALA LUMPUR: RHB Bank Berhad (“RHB” or the “Group”) is pleased to announce the appointment of Nurjesmi bin Mohd Nashir as Managing Director of Wholesale Banking, effective 1 July 2025. Nurjesmi succeeds Datuk Fad’l Mohamed, who was recently appointed Chief Executive Officer of Bursa Malaysia. With over 3 decades of experience in banking and capital markets, Nurjesmi brings deep expertise in corporate banking, investment banking, and market development. In his previous roles, he has a strong track record in transformative efforts to drive growth, reinforce the banks’ market standing, and optimise operational performance.   He began his career as an equity analyst in 1993 and has held various leadership positions at Citibank Berhad between 1996 to 2013, covering sectors including energy, plantations, and real estate.   Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group said, “Nurjesmi’s market insights and proven leadership make him well-positioned to steer our Wholesale Banking business into its next phase of growth. With our recent organisational restructure, Wholesale Banking will focus on five core areas – Investment Banking, Treasury & Global Markets, Transaction Banking, Client Coverage and Economic Research. I am confident his experience and leadership will be valuable in driving the Group’s PROGRESS27 strategy.”   Nurjesmi holds a Bachelor of Science in Finance from Syracuse University, New York, and a Diploma in Business Studies from MARA University of Technology (UiTM). He also served as an Independent Board Member of Perbadanan Usahawan Nasional Berhad, from 2018 to 2023.   This appointment reaffirms RHB’s commitment to strengthening its leadership bench and driving long-term value creation across its Wholesale Banking business.

KUALA LUMPUR: CGS International Securities Group (“CGS International”) and its parent, China Galaxy Securities Co., Ltd (“CGS”), today formalised six new landmark agreements at the inaugural ASEAN Business Forum 2025 (ABF2025), co-hosted by the Malaysian Investment Development Authority (MIDA) and ASEAN Business Advisory Council (ASEAN-BAC) Malaysia. These include five Memoranda of Understanding (MOUs) and one Letter of Intent (LOI), advancing the firm’s ambition to catalyse ASEAN-China business collaboration across investment, trade and strategic sectors. The signing ceremony, held in conjunction with the 46th ASEAN Summit and the ASEAN-GCC + China Summit, was witnessed by key dignitaries including Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA (on behalf of YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry), Dato’ Mohammad Faiz Azmi, Executive Chairman of the Securities Commission Malaysia (SC), Tan Sri Nazir Razak, Chairman of ASEAN-BAC Malaysia, and Mr Wang Sheng, Chairman of CGS. These agreements follow CGS International’s earlier pledge of RM6 billion during the Johor-Singapore Special Economic Zone (JS-SEZ) Partners’ Dialogue, comprising RM3 billion in foreign direct investment facilitation and RM3 billion in asset management under new Single Family Office Ventures. Strategic Agreements Signed 1. LOI for China-ASEAN Investment ProgrammeAims to establish a private equity fund focusing on high-growth sectors such as semiconductors, advanced manufacturing, renewable energy, healthcare, food security and consumer sectors. Malaysia will serve as a regional anchor and technology transfer bridge between China and ASEAN. 2. MOU with MIDABoth parties will jointly promote Malaysia as a prime investment hub, focusing on investor facilitation, business matching, fundraising and supply chain development across high-value sectors. 3. MOU with Fullgoal Asset Management (HK) Limited and Bursa MalaysiaThis trilateral collaboration is set to expand Malaysia’s Exchange-Traded Fund (ETF) offerings by enabling the listing of foreign-underlying ETFs on Bursa Malaysia. It will give Malaysian investors greater access to global markets and diversify capital market products. 4. MOU with GL Capital Management LimitedTo launch a private equity fund dedicated to ASEAN’s growing healthcare and medical devices sector. 5. MOU with OCBC Bank (Malaysia) BerhadTo support trade and investment flows between China and ASEAN by offering integrated banking, treasury, and investment services to regional clients. 6. MOU with Zhongguancun International Holding Limited (Hong Kong)To attract Chinese companies in advanced manufacturing, food security, digital tech, and healthcare to the JS-SEZ and selected Malaysian industrial parks. ETF Collaboration with Bursa Malaysia and Fullgoal HK In a separate but complementary development at ABF2025, CGS MY signed a tripartite MOU with Bursa Malaysia and Fullgoal HK to facilitate the listing of new ETFs on Bursa Malaysia. The initiative aims to expand Malaysian retail investors’ access to global investment products and markets. “This collaboration marks a pivotal step in expanding Malaysia’s ETF landscape,” said Dato’ Fad’l Mohamed, CEO of Bursa Malaysia. “It reinforces our position as an investment gateway bridging Malaysia with global financial markets.” Mr Ge Chen, Chairman of Fullgoal HK, cited strengthened Malaysia-China maritime and financial ties under the Belt and Road Initiative, stating, “This partnership enhances our international asset allocation capabilities and supports our ‘going global’ strategy.” CGS International CEO, Madam Carol Fong, added: “Our role as a connector and catalyst in ASEAN-China capital flows is made possible through partnerships like these. We’re excited to deepen investor access to unique global opportunities.” Currently, Bursa Malaysia lists 17 ETFs managed by six issuers with a combined AUM of MYR2.4 billion. A Regional Investment Catalyst With over 500 policymakers, investors, and corporate leaders in attendance, ABF2025 underscores Malaysia’s role as a regional anchor for investment and a facilitator of ASEAN-China connectivity under its 2025 ASEAN Chairmanship. CGS International’s multilateral signings serve as a strong vote of confidence in the region’s potential and its future as a united, high-growth economic powerhouse. For more information on CGS International’s initiatives, visit www.cgsi.com.

KUALA LUMPUR: In a landmark move signalling growing economic cooperation between China and ASEAN, China Galaxy Securities Co., Ltd (“CGS”) and its regional arm, CGS International Securities Group (“CGS International”), signed five strategic Memoranda of Understanding (MOUs) and one Letter of Intent (LOI) at the ASEAN Business Forum 2025 (ABF2025). The event, co-hosted by the Malaysian Investment Development Authority (MIDA) and ASEAN Business Advisory Council (ASEAN-BAC) Malaysia, underscores ASEAN’s ambitions to strengthen cross-border trade and investment in high-growth sectors. Witnessed by key regional stakeholders including Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of MIDA; Dato’ Mohammad Faiz Azmi, Executive Chairman of the Securities Commission Malaysia (SC); Tan Sri Nazir Razak, Chair of ASEAN-BAC Malaysia; and Mr Wang Sheng, Chairman of CGS – the signings mark a deepening of CGS International’s long-term strategic intent in ASEAN. Strengthening ASEAN-China Capital and Business Flows The agreements build on CGS International’s RM6 billion pledge made during the Johor-Singapore Special Economic Zone Partners’ Dialogue earlier this month. The commitment comprises RM3 billion in facilitation of foreign direct investment (FDI) over three years and RM3 billion in assets under management through the establishment of Single Family Office Ventures. Spanning areas including private equity, investment facilitation, ETF offerings, healthcare, advanced manufacturing, digital tech, and trade banking services, the six new agreements position Malaysia as a key regional anchor in ASEAN’s economic integration journey. Key Agreements Include: LOI for the China-ASEAN Investment Programme – A private equity fund targeting high-growth sectors such as healthcare, semiconductors, renewable energy, food security, and advanced manufacturing across ASEAN, with Malaysia as the core regional hub. The fund also aims to drive cross-border industry knowledge and tech transfer. MOU with MIDA – To jointly promote Malaysia as a premier investment destination and support investor facilitation, fundraising, business matching, and supply chain development. MOU with Fullgoal Asset Management (HK) & Bursa Malaysia – To introduce new Exchange-Traded Funds (ETFs) on Bursa Malaysia, expanding global investment access for local investors. MOU with GL Capital Management Limited – To launch a private equity fund focused on ASEAN’s fast-growing healthcare and medical devices sector. MOU with OCBC Bank (Malaysia) Berhad – To support ASEAN-China trade and investment flows through integrated banking, treasury, and investment banking services. MOU with Zhongguancun International Holding (Hong Kong) – To assist Chinese firms in entering Malaysian industrial parks and the Johor-Singapore Special Economic Zone, focusing on sectors such as advanced manufacturing, digital technology, and food security. Malaysia’s Role Under ASEAN Chairmanship The move highlights Malaysia’s proactive role during its ASEAN Chairmanship in catalysing intra-ASEAN and ASEAN-China economic linkages. It also reflects the region’s attractiveness as a long-term growth engine, with CGS International committed to serving as a bridge between ASEAN opportunities and Chinese capital. “These signings are more than just intents and agreements – they signify our strong confidence in the investment and growth potential of ASEAN and Malaysia,” said Madam Carol Fong, Group CEO of CGS International. “As a connector and catalyst, we aim to accelerate cross-border strategic collaborations, capital and talent mobility for business growth.” A High-Impact Business Forum Held in conjunction with the 46th ASEAN Summit and the ASEAN-GCC + China Summit 2025, ABF2025 gathered over 500 regional policymakers, investors, and business leaders. Organised by ASEAN-BAC Malaysia and MIDA with support from MBSB Bank and OCBC Malaysia, the forum featured high-level dialogues, strategic panels, and closed-door business matchmaking sessions. As CGS International expands its influence across ASEAN, these partnerships reaffirm its role as a key enabler in the region’s economic transformation. For more on CGS International’s services and initiatives, visit www.cgsi.com.