Malaysia

Genting Berhad has announced the formal transfer of its 49%-owned indirect joint-venture asset, the 2x393MW subcritical coal-fired Meizhou Wan Power Plant (Phase I), to Fujian Investment & Development Group Co Ltd. The handover was finalised on 30 June 2025 through SDIC Genting Meizhou Wan Electric Power Company Ltd (SDICG MZW). The plant, which has been operational since 1 January 2004, was managed under a 21.5-year build-operate-transfer (BOT) power purchase agreement. The conclusion of this agreement marks a significant step in Genting’s broader strategy to transition away from coal-fired power generation, aligning with the group’s long-term focus on developing a more sustainable and cleaner energy portfolio. Despite the divestment of Phase I, SDICG MZW will retain full ownership and operation of the 2×1,000MW ultra-supercritical Meizhou Wan Phase II plant. Operational since 2017, Phase II employs advanced generation technologies and continues to meet all prevailing environmental regulatory requirements. Genting reaffirmed its commitment to cease future coal-based developments but emphasised its intention to manage its existing coal-fired assets responsibly through to the end of their operational life. “This prudent and balanced approach allows the company to manage its legacy assets responsibly,” Genting stated. In alignment with its strategic shift, Genting’s power division remains actively engaged in identifying high-value investment opportunities across the renewable and clean energy sectors, supporting the global transition towards decarbonised energy systems. This direction is underscored by its recent collaboration with SDIC Power Holdings Co Ltd on the 120MWp Dongwucha aquaculture-complementary solar power plant project in China. The project reflects the group’s evolving energy strategy and ongoing commitment to sustainability. Genting Berhad’s shares ended slightly higher at RM3.08 on the day of the announcement. -The Star

The Securities Commission Malaysia (SC) has released a consultation paper outlining proposed enhancements to the regulatory framework governing Digital Asset Exchanges (DAX), in response to continued growth in the domestic digital asset market. Since the introduction of the DAX regulatory framework in 2019, Malaysia’s digital asset ecosystem has experienced significant development, culminating in a record annual trading value of RM13.9 billion in 2024. This figure marks a 2.6-fold increase compared to the previous year, signalling a sharp rise in both retail and institutional participation. Recognising the expanding role of DAXs in facilitating responsible access to digital asset investments within a regulated environment, the SC is seeking public feedback on a series of revisions aimed at fortifying market integrity and investor protection while enabling greater agility for exchange operators. Key proposals include the introduction of streamlined listing requirements for digital assets, enhanced safeguards for client assets, and more robust financial and operational standards for DAX operators. In a move intended to foster innovation and reduce regulatory friction, the SC is also considering the removal of its direct approval requirement for certain asset listings, provided minimum criteria are met. This approach is expected to shorten time-to-market while increasing the accountability of licensed operators. The regulator has also observed rising interest from capital market intermediaries and institutional investors engaging in the sector either through direct exposure or fund-based strategies, underscoring the need for a more sophisticated and resilient regulatory infrastructure. Feedback is invited from a broad spectrum of stakeholders, including digital asset issuers, DAX operators, financial institutions, market participants, industry associations, and legal and compliance professionals. Submissions must be made by 11 August 2025. The full consultation paper is available on the SC’s official website. -Fintech News

Prasarana Malaysia Berhad (Prasarana) has announced significant changes to its senior leadership, appointing Tan Sri Nasir Ahmad as its new Group Chairman effective 1 August. He succeeds Tan Sri Jamaludin Ibrahim, who retired on 30 April following the conclusion of his tenure. Tan Sri Nasir brings a wealth of experience to the role, having previously served as Chief Executive Officer of Perbadanan Usahawan Nasional Berhad (PUNB) until June 2011. He later assumed the position of Group Chairman at CIMB Group Holdings Berhad in 2018, further cementing his credentials in strategic leadership within the Malaysian corporate sector. In tandem with this appointment, Prasarana has confirmed that its current Group Chief Operating Officer (Operations), Encik Amir Hamdan, will be stepping in as Acting President and Group Chief Executive Officer effective 15 July. He will succeed Datuk Azharuddin Mat Sah, whose term officially concludes on 14 July. Encik Amir joined Prasarana in 2019 as Deputy Chief Financial Officer before being appointed Chief Executive Officer of Rapid Rail Sdn Bhd in 2022. Under his leadership, Rapid Rail implemented a series of initiatives aimed at enhancing operational efficiency and service reliability. His academic background includes a Bachelor of Commerce from Lincoln University, New Zealand, and a Master’s in Islamic Finance Practice from INCEIF University. He is also a certified member of the Association of Chartered Certified Accountants (ACCA). Prasarana has expressed its sincere appreciation to Tan Sri Jamaludin and Datuk Azharuddin for their leadership and service to the organisation. During their tenure, Prasarana achieved several key milestones, including a record high of 1.5 million daily rail and bus passengers as of 31 December 2024. The company also successfully reduced rail service disruptions from 255 incidents in 2022 to just 71 in 2024, and introduced innovative solutions such as the Rapid On-Demand (ROD) van service to improve commuter connectivity. -FMT

Kumpulan Wang Persaraan (KWAP) has officially appointed 12 international General Partners (GPs) to manage RM6 billion under the Dana Pemacu initiative, which targets strategic investments across private equity, infrastructure, and real estate. Introduced in May 2024, Dana Pemacu is a key pillar under the Government’s GEAR-uP initiative and the Ekonomi MADANI framework, designed to accelerate Malaysia’s economic transformation. The fund places emphasis on sectors with high national impact, including financial inclusion, food security, education, the silver economy, healthcare, energy transition, the digital economy, and other sustainability-driven themes. KWAP confirmed that a significant portion of the RM6 billion will be channelled into Shariah-compliant investments, while the remainder will be allocated internationally to ensure sustainable, risk-adjusted returns. Among those selected in the private equity category are Investcorp, Navis Capital Partners, Nexus Point, and The Vistria Group. For infrastructure mandates, Climate Fund Managers, DigitalBridge, I Squared Capital, and Seraya Partners have been appointed. Meanwhile, Castleforge Partners Limited, Lendlease Investment Management, Savills Investment Management, and TrustCapital Advisors Investment Management will lead in the real estate segment. The Dana Pemacu programme incorporates a co-General Partner model, aligning global fund managers with local partners to build domestic investment capabilities while introducing international expertise to Malaysia’s private market landscape. All global GPs have nominated local counterparts and are currently undergoing regulatory approvals. KWAP Chief Executive Officer, Datuk Hajah Nik Amlizan Mohamed, highlighted the fund’s strong reception from international investors. “We received positive interest from global GPs since the launch of Dana Pemacu, with over 40 submissions reviewed. Following a rigorous evaluation and due diligence process, we have identified 12 global GPs that we believe will contribute significantly to the development of Malaysia’s private market ecosystem. KWAP recognises the strength of the selected managers, who bring proven track records and deep experience in driving investment performance,” she said. Datuk Hajah Nik Amlizan further emphasised that most of the capital will be invested domestically, aligning with KWAP’s strategic objective to support national development while delivering long-term value. -Fintech News

Precision engineering specialist, UMS Integration Limited (“UMS”), has today issued its prospectus for the secondary listing of and quotation for the entire issued share capital of UMS on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) by way of introduction (“Secondary Listing”). Headquartered in Singapore, UMS, through its subsidiaries (collectively known as the “Group”) is an integrated high-precision engineering and manufacturing solutions provider, offering complex precision machining, sheet metal fabrication, surface treatment, as well as sub-module and full-module assembly services, with a focus on serving high-tech industries such as semiconductor and aerospace. UMS’ clientele includes Fortune 500 companies as well as multinational companies listed on, among others, the New York Stock Exchange, NASDAQ, Singapore Exchange (“SGX”) and Euronext Paris. Chief Executive Officer of UMS, Mr. Luong Andy (梁世光), said, “Our Secondary Listing on Bursa Securities represents a strategic advancement in our corporate journey, and we will be the first Singapore public company to have a Secondary Listing on the Main Market of Bursa Securities. Having evaluated several potential listing venues, we have concluded that Bursa Securities is the most strategic platform to broaden our investor base, potentially improve liquidity through separate trading platforms, and provide flexibility to access different equity markets to raise funds in the future.” “This also enhances our visibility across Southeast Asia, which aligns with our key operational presence in Penang that has an aggregate built-up area of about 689,870 square feet. We believe our Secondary Listing on Bursa Securities will enhance our position as an integrated comprehensive service provider for global chip companies and support our long-term growth ambitions. I am very much looking forward to this significant milestone,” Mr. Luong added. UMS is currently listed on the Mainboard of SGX with a market capitalisation of approximately S$970 million (equivalent to about RM3.2 billion). The Group recorded a revenue of S$242.1 million for the financial year ended 31 December 2024 (“FYE 2024”) while profit after tax (“PAT”) stood at S$40.6 million, translating into a PAT margin of 16.8%. It has consistently generated positive net operating cash flow for at least the past 10 fiscal years, and held a net cash position equivalent to S$0.11 per share as at 31 December 2024. UMS has a dividend policy to declare dividends on a quarterly basis. Based on the prevailing share price in Singapore, UMS offers a dividend yield of approximately 4% based on the aggregate payout of S$0.052 for FYE 2024. Mr. Luong concluded by saying, “Looking ahead, UMS will continue to expand our role across the semiconductor and aerospace value chains. In particular, within the semiconductor space, we see exciting opportunities in manufacturing high-precision components used in advanced packaging solutions, which play a vital role in enabling next-generation artificial intelligence and high-performance computing applications.” The Secondary Listing will be undertaken by way of introduction and will not involve any issuance or offering of shares. UMS shares will be fully fungible, where shareholders will be able to transfer their shares between the Mainboard of SGX and the Main Market of Bursa Securities for trading. Following the issuance of the prospectus, UMS is scheduled to be listed on the Main Market of Bursa Securities on 1 August 2025. TA Securities Holdings Berhad is the Principal Adviser, while CGS International Securities Malaysia Sdn. Bhd. is the Financial Adviser for the Secondary Listing.