Zetrix AI Bhd, previously known as MyEG Services Bhd, has received a public reprimand from Bursa Malaysia Securities for multiple breaches of the Main Market Listing Requirements. The action also includes financial penalties imposed on seven members of its board. In an official statement, Bursa Malaysia cited the company’s failure to ensure that several public announcements were factual, accurate, and free from false or misleading information. Furthermore, the company did not adhere to a specific directive issued by the exchange. The directive in question required Zetrix AI to provide an immediate clarification on an earlier announcement made on 7 July 2023. Bursa Malaysia had instructed the company on 15 August 2023 to respond, with a deadline set for 16 August 2023. Zetrix AI failed to comply within the stipulated timeframe. As a result, seven directors have each been fined RM150,000. The individuals include Managing Director Wong Thean Soon, Executive Chairman Datuk Norraesah Mohamad, and directors Datuk Mohd Jimmy Wong Abdullah, Wong Kok Chau, Datuk Seri Mohd Mokhtar Mohd Shariff, Datuk Mohd Jeffrey Joakim, and Mohaini Mohd Yusof. Bursa Malaysia’s enforcement action underscores its commitment to maintaining high standards of corporate disclosure and governance within the capital markets. -The Star

Solid Automotive Bhd has completed the acquisition of SG, a well-established motor vehicle spare parts trading company, for RM6 million in a strategic move to broaden its footprint in the automotive aftermarket sector. According to its filing with Bursa Malaysia, Solid Automotive acquired the entire issued share capital of SG, comprising 500,000 shares, from its existing shareholders Ng Tian Seow, Leong Foo Weng, and Hong Kok Liang. The acquisition marks a significant step forward for Solid Automotive as it seeks to diversify its revenue streams and enhance profitability within the passenger car segment of the general automotive aftermarket. SG has built a strong reputation in the trading of genuine automotive parts, representing well-known marques such as Perodua, Proton and Nissan. The company’s customer base includes a robust network of over 300 clients, primarily comprising spare parts retailers. Solid Automotive said the acquisition would allow it to leverage SG’s established distribution channels and further consolidate its position in the sector. -The Star

The Malaysia Competition Commission (MyCC) has imposed a financial penalty totalling RM2.98 million on three companies found to have engaged in bid-rigging practices involving public maintenance contracts. The firms—Abadi Malaysia Sdn Bhd, Kota Landskap Sdn Bhd and Usia Maintenance Sdn Bhd—were penalised for violating Section 4 of the Competition Act 2010. According to MyCC Chief Executive Officer Iskandar Ismail, the companies were found to have colluded on six tenders issued by Putrajaya Corporation between 2018 and 2021. The combined value of these tenders was close to RM45 million and covered works in building and facility maintenance, landscaping, and civil engineering. The enforcement action followed public complaints regarding potential bid-rigging practices in several government-linked projects. A preliminary assessment identified nine enterprises potentially involved in a cartel arrangement, prompting MyCC to launch a full investigation. “The investigation involved raids on the companies’ premises, collection of documents, statements from 24 individuals, requests for further information and in-depth analysis of all relevant materials,” said Iskandar at a press conference held at MyCC headquarters. On 10 September 2024, a proposed decision was issued to the implicated companies. Representations were received on 11 November 2024 and 13 March 2025. After evaluating these responses, MyCC delivered its final decision on 13 July 2025. Abadi Malaysia was identified as the coordinator of the cartel, facilitating collusion via WhatsApp, email communication and meetings. The probe uncovered that tender documents for all six projects were prepared collaboratively at a single location, with coordination led by one of Abadi Malaysia’s directors. “During enforcement actions, MyCC discovered tender-related documents belonging to all three companies at the premises of Kota Landskap, highlighting a centralised effort in the preparation process,” said Iskandar. Evidence revealed that Usia Maintenance and Abadi Malaysia each secured one of the six tenders. However, both were found culpable in relation to all six tenders due to the presence of collusive behaviour across the board. Similarly, Kota Landskap was found to have engaged in coordinated conduct throughout the tendering process. The investigation further revealed that the directors of the companies involved had familial and personal relationships, although no officials from Putrajaya Corporation were implicated in the misconduct. MyCC currently has 14 active cases under review, with ongoing investigations involving over 500 companies and tenders valued at approximately RM2.3 billion. -Bernama

Selangor recorded its highest-ever gross domestic product (GDP) of RM432.1 billion in 2024, solidifying its position as the top-performing state economy in Malaysia. This marks a notable increase from the RM406.1 billion registered in 2023, with the state remaining the only one to surpass the RM400 billion threshold for two consecutive years. According to Invest Selangor, the state’s contribution to Malaysia’s overall GDP rose to 26.2% last year, compared to 25.9% in 2023, reflecting its growing role as a key economic engine within the nation. Selangor’s GDP growth outpaced the national average, posting a year-on-year expansion of 6.3%, ahead of Malaysia’s overall growth rate of 5.1%. The services sector emerged as the primary driver of this performance, contributing RM263.9 billion, or 61.1% of the state’s total GDP. This sector also registered a 6.3% increase compared to the previous year. The manufacturing sector ranked as the second-largest contributor, accounting for 29.1% of the state’s GDP. Key subsectors fuelling this growth included electrical and electronics, vegetable and animal oils and fats, food processing, beverages, and transport equipment. Invest Selangor Chief Executive Officer Hasan Azhari Idris attributed the state’s economic success to strategic, long-term planning and targeted efforts to attract high-quality investments across growth-oriented industries. “At Invest Selangor, we are focussed on facilitating sustainable, innovation-driven investment while enhancing Selangor’s global competitiveness,” Hasan said. -FMT

Malaysian Resources Corporation Berhad (MRCB), through its wholly owned subsidiary Country Annexe Sdn Bhd (CASB), has entered into a joint venture with Ipoh Sentral Sdn Bhd (ISSB) for the development of Ipoh Sentral, a mixed-use project in Perak with an estimated gross development value (GDV) of RM6.25 billion. The formal joint-venture development agreement, signed on Friday, follows the earlier execution of a memorandum of agreement on 23 January 2025. The collaboration aligns with MRCB’s corporate strategy, which emphasises sustainable growth, diversification of its property portfolio and the delivery of developments centred around community needs. In a filing with Bursa Malaysia, MRCB stated that the partnership capitalises on the company’s core competencies and industry experience to strengthen financial performance and deliver long-term value for shareholders, stakeholders and local communities. MRCB highlighted the strategic value of the project, citing the rising demand for transit-oriented development (TOD) as a key driver of sustainable revenue growth and investment attractiveness. The proposed TOD will serve as a modern transportation hub designed to integrate various transport modes, reinforcing the group’s position as a leader in mixed-use, infrastructure-led developments. The company added that the Ipoh Sentral project is expected to generate recurring income throughout its development cycle and act as a platform to showcase MRCB’s capabilities in property development, engineering and construction. In addition to expanding its TOD portfolio, the collaboration will also substantially increase MRCB’s landbank, granting access to valuable land parcels and reinforcing its long-term development pipeline. -Bernama

BreathDx (M) Sdn Bhd, the Malaysian arm of US-based BreathDx Inc, is seeking to raise RM21 million via the issuance of Islamic redeemable cumulative convertible preference shares (RCCPS-i) to fuel its expansion across Malaysia and the broader Southeast Asian region. The capital raising exercise is being conducted through equity crowdfunding platform AMB Connect. Proceeds will be directed toward scaling the company’s proprietary breath-based diagnostics platform, which integrates artificial intelligence with micro gas chromatography to detect diseases — including cancer — through a patient’s exhaled breath. “Operating out of Malaysia enables us to explore diseases typically under-researched, such as dengue, Zika, and malaria,” said Chief Executive Officer Datuk Rajen Manicka. “It also positions us to tailor diagnostics to regional needs.” According to the company, 57% of the funds raised will be allocated to equipment acquisition, research and development, regulatory compliance, staffing and reimbursements. The remaining proceeds are designated for working capital. RCCPS-i shares are priced at RM1 each, with full utilisation of funds expected within 18 months. To underpin its long-term growth, BreathDx is implementing a three-tiered revenue model: leasing diagnostic machines to point-of-care providers including hospitals and clinics, charging per test, and monetising anonymised clinical data for third-party applications. “Our model is designed to eliminate upfront costs for healthcare providers while generating recurring income from both diagnostics and data commercialisation,” Rajen added. As part of its expansion roadmap, BreathDx is evaluating plans to establish a manufacturing facility in Sama Jaya, Sarawak. This initiative is intended to localise production, reduce dependency on manufacturing in China, and shield the company from tariffs imposed in key export markets such as the United States. Valued at US$332 million by Valuing IP Sdn Bhd, BreathDx is also considering a Nasdaq listing within the next two to three years. The company believes its valuation could increase further upon completion of clinical studies currently underway with Harvard University and the US Veterans Administration, in addition to obtaining approvals from the US Food and Drug Administration and Malaysian regulatory bodies. Market expansion into Europe, India and North Asia, as well as domestic manufacturing, are also expected to contribute to future growth. To date, BreathDx has invested over US$25 million in the research and development of its micro gas chromatography technology and holds 25 international patents. -The Star