Features
PN17 Construction Firm Zelan Names Faizal Yusof as CEO
Zelan Bhd, a PN17 company, has appointed Faizal Yusof as its new chief executive officer. The 46-year-old industry veteran brings over 23 years of experience spanning engineering, construction, and infrastructure to the helm of the construction engineering firm. In a filing with Bursa Malaysia, Zelan’s board expressed confidence that Faizal’s leadership, strategic insight and deep sector expertise will play a pivotal role in steering the company’s turnaround and supporting its ongoing PN17 regularisation plans. Faizal succeeds Mohd Ariff Abd Samat, who resigned in November last year after just three months as CEO to pursue other opportunities. Since then, Shareena Shahril had been serving as acting CEO. Zelan was classified under Practice Note 17 (PN17) in May 2023 after its external auditor, Nexia SSY PLT, issued a disclaimer of opinion on the company’s audited financial statements for the year ended 31 December 2022. -The Star
Solarvest Names Daniel Ruppert as Chief Investment Officer
Solarvest Holdings Bhd has announced the appointment of Daniel Bernd Ruppert as its chief investment officer (CIO), effective immediately. In a filing with Bursa Malaysia, the group said Ruppert, 50, has already played an active role in shaping Solarvest’s investment strategies and has represented the company at numerous official functions. With his formal appointment, Ruppert will now take on full responsibilities as a member of the senior management team. He will oversee the group’s investment strategy, including asset management, acquisitions and divestments, risk oversight and strategic capital deployment. Solarvest highlighted Ruppert’s extensive experience, noting he brings over 15 years in investment banking and business management to the role. The company said his expertise is expected to enhance the group’s growth trajectory and strengthen its position in the renewable energy sector. -The Star
BASF Petronas Settles Electricity Dispute for RM52 Million
BASF Petronas Chemicals Sdn Bhd has agreed to pay RM52 million to Petronas Gas Bhd, marking the full and final settlement of a long-standing dispute concerning electricity supply arrangements between the two companies. According to a filing by Petronas Gas with Bursa Malaysia, the settlement was concluded in the ordinary course of business and negotiated on an arm’s length basis. The company emphasised that the resolution is fair, reasonable, and conducted on normal commercial terms, while safeguarding the interests of minority shareholders. Petronas Gas stated that the agreement reflects ongoing commercial collaboration with BASF Petronas and allows both parties to avoid an extended dispute resolution process. The settlement helps mitigate potential uncertainties in revenue recognition and financial expectations. The dispute stems from a sale and purchase of electricity agreement entered into on 21 December 1998, along with supplementary agreements. Between 2018 and 2019, disagreements emerged regarding certain provisions of the electricity agreement, ultimately leading to the negotiated resolution announced. The RM52 million payment draws a line under the matter, reinforcing the commitment of both parties to maintain stable and commercially sound business relationships. -Bernama
Setia Federal Hill Earns Malaysia’s First LEED ND Platinum Certification
SP Setia Bhd has achieved a significant sustainability milestone with its Setia Federal Hill development in Bangsar, Kuala Lumpur, becoming the first project in Malaysia to be awarded the LEED for Neighbourhood Development (LEED ND) Platinum certification. The accolade, conferred by the U.S. Green Building Council (USGBC), was officially presented on 11 July 2025 at the Setia International Centre in Kuala Lumpur. It marks the highest possible rating under the LEED ND v4 framework and underscores SP Setia’s commitment to sustainable, inclusive, and resilient urban planning. Setia Federal Hill was assessed under the 2023 masterplan against criteria including smart location, green infrastructure, innovation, design, and regional impact. The project is designed to foster a walkable, low-carbon community in line with national sustainability objectives. In a statement, SP Setia Executive Vice President Liong Kok Kit expressed pride in the achievement, describing it as a validation of the company’s vision and collaborative effort. “This certification affirms our commitment to building sustainable, resilient, and inclusive communities. It is a testament to our collective vision, dedication, and collaboration that brought Setia Federal Hill to life,” he said. “This is a significant milestone, not only for Setia but also for the broader advancement of sustainable urban development in Malaysia,” he added. Setia Federal Hill spans 52 acres and carries an estimated gross development value (GDV) of RM1.4 billion. The development will comprise two residential towers, offering approximately 1,300 units. In collaboration with Japan’s Mitsui Fudosan, the first tower, Parkside Residences, is scheduled for launch in the second half of 2025. The certification reinforces SP Setia’s position as a leader in environmentally conscious real estate development, setting a new benchmark for integrated urban communities in the country. -The Star
Chin Hin Group Secures 2.63 Hectares of Prime Segambut Land for RM52 Million
Chin Hin Group Property Bhd (CHGP) has acquired 2.63 hectares of land in Segambut, Kuala Lumpur, for RM52 million, marking a strategic expansion of its property development footprint in the capital. The acquisition was completed through its wholly-owned subsidiary, Chin Hin Property (Segambut) Sdn Bhd, which entered into a sale and purchase agreement with New York Empire Sdn Bhd and Kar Sin Bhd. The land, originally earmarked for a joint development between CHGP and Kar Sin, will now be fully owned and independently developed by CHGP. The group intends to undertake either a residential or mixed-use development project on the site, subject to the requisite regulatory approvals. “This acquisition is aligned with our ongoing strategy to broaden our property portfolio through the acquisition of land in key high-potential areas across Kuala Lumpur,” said Chin Hin in a statement. Chang Tze Yoong, Chief Executive Officer of Chin Hin Group’s property development division, noted that the move from joint venture to sole ownership would allow for enhanced control over both the execution and commercial positioning of the project. “The site’s strong connectivity and favourable market conditions give us confidence that this development will make a meaningful contribution to our future earnings,” he said. -Bernama
Malakoff and Evergreen Earth Sign MoU to Advance Green Energy in Sarawak
Malakoff Corporation Berhad, one of Malaysia’s leading independent power producers, has formalised a memorandum of understanding (MoU) with Evergreen Earth Sdn Bhd (EESB), a real estate and construction group, to develop green power projects across Sarawak. The MoU exchange took place during the International Energy Week (IEW) 2025 at the Borneo Convention Centre Kuching, witnessed by Sarawak Premier Tan Sri Abang Johari Tun Openg and Deputy Prime Minister Datuk Seri Fadillah Yusof, who also serves as Minister of Energy Transition and Water Transformation. The agreement was signed by Malakoff’s Head of Business Development, Shaja Ibrahim, and EESB Director, Datuk Mohamad Danel Abong. In a joint statement, Malakoff and EESB confirmed that the collaboration will include feasibility studies, site assessments, project development strategies and local partnership models focused on solar photovoltaic (PV) and other renewable energy (RE) ventures. The initiative will also involve the sharing of technical expertise, regulatory insights and market intelligence, alongside coordinated engagement with relevant authorities to obtain necessary approvals and enable grid integration. These efforts are aligned with Sarawak’s Post COVID-19 Development Strategy 2030 and Malaysia’s National Energy Transition Roadmap (NETR), underscoring both parties’ commitment to advancing the nation’s sustainability and clean energy objectives. Malakoff’s Managing Director and Chief Executive Officer, Anwar Syahrin Abdul Ajib, highlighted the significance of the partnership in supporting Malaysia’s clean energy transition. He stated that the projects will play a critical role in reducing Sarawak’s dependence on fossil fuels while contributing to a diversified renewable energy portfolio. “By supporting Sarawak’s efforts to reduce reliance on fossil fuels and diversify its renewable energy mix, we are contributing to the development of a more sustainable and future-ready energy ecosystem,” he said. Anwar added that the green power initiatives are expected to deliver strong socio-economic benefits, including job creation, local talent upskilling and improvements in rural infrastructure. This collaboration builds on Malakoff’s growing renewable energy footprint, which currently encompasses a total generating capacity of 198 megawatts (MW) from solar, waste-to-energy and small hydropower assets. As of June 2025, the company’s rooftop solar capacity stood at 63.6 MW, while its RE portfolio produced 67.0 gigawatt-hours (GWh) of clean electricity in 2024. -Bernama
inDrive Gets Regulatory Approval To Keep Operating In Malaysia
NFC Wins Appeal Over Bank Secrecy Breach
