Malaysia

Hong Leong Bank Berhad (HLB) has completed the issuance of RM400 million in nominal value of Tier 2 subordinated notes under its multi-currency Tier 2 subordinated notes programme (HLB T2 Programme), according to a filing with Bursa Malaysia. The issuance was split into two tranches. Tranche 6 Series 1 totalled RM75 million with a 10-year tenure and carries a coupon rate of 3.78 per cent per annum. It is non-callable for the first five years and callable from 20 June 2030 onwards on any subsequent coupon payment date. Tranche 6 Series 2, amounting to RM325 million, has a 12-year tenure and offers a coupon rate of 3.85 per cent per annum. It is non-callable for the initial seven years and callable from 21 June 2032 on any subsequent coupon payment date. Both tranches will pay interest semi-annually. HLB stated that the proceeds raised will be deployed for working capital, general banking activities, corporate purposes, and the refinancing of existing borrowings or subordinated debt, including any outstanding notes issued under the HLB T2 Programme. The issuance has been accorded an AA1 rating by RAM Rating Services Berhad, reaffirming the bank’s strong credit profile and the quality of the instrument within the Malaysian capital market. -Bernama

The Malaysian Sustainable Palm Oil (MSPO), formerly known as the Malaysian Palm Oil Certification Council, has entered into a memorandum of understanding (MoU) with Japan’s Global Alliance for Sustainable Supply Chain (ASSC) aimed at strengthening market access and demand for MSPO-certified palm oil across Japan’s premium industrial sectors. The collaboration, announced by Malaysia’s Ministry of Plantation and Commodities, is a significant step towards bolstering the country’s global standing in the sustainable palm oil sector. It underscores Malaysia’s strategic intent to align its industry with international sustainability benchmarks while capitalising on opportunities within high-value markets. According to the ministry, this partnership positions MSPO at the heart of Japan’s sustainable procurement ecosystem, offering Malaysian producers direct channels to discerning buyers who place a premium on ethical and environmentally responsible sourcing. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani described the agreement as a major milestone in Malaysia’s ongoing efforts to elevate the global profile of its sustainable palm oil. “This strategic partnership marks a significant milestone in Malaysia’s efforts to champion sustainable palm oil on the global stage. It reflects growing international recognition of MSPO as a credible and inclusive certification that meets the highest environmental and social standards,” he stated. Johari further highlighted the broader social and economic impact of the initiative. “At its core, MSPO is not just about markets, it is about people. This collaboration opens up real opportunities for our smallholders, empowers our workers, and uplifts rural communities by ensuring that their palm oil can reach high-value, sustainability-conscious markets like Japan.” The foundation of the partnership was laid following a comprehensive human rights impact assessment (HRIA) conducted in 2023 by Ajinomoto Co Inc and ASSC. The study validated the MSPO certification framework as robust and inclusive, particularly in its focus on safeguarding smallholder livelihoods and upholding workers’ rights. As part of the agreement, ASSC will act as a key knowledge and advocacy partner for MSPO in Japan. Its role will involve raising industry awareness, influencing procurement strategies, and facilitating the integration of certified sustainable palm oil into one of the world’s most demanding and quality-sensitive markets. -Bernama

The Malaysian Digital Association (MDA) recently concluded its flagship events—the d Conference 2025 and the d Awards 2025—at One World Hotel in Petaling Jaya, drawing over 900 participants to celebrate the convergence of technology, creativity and culture under the theme “The New Era of Creativity.” The d Conference 2025 drew an impressive 420 senior professionals from the marketing, media and technology sectors. The conference opened with a keynote by internationally renowned Malaysian artist Red Hong Yi, who explored the evolving role of artificial intelligence in shaping authenticity and creative intent in the digital age. A keynote address by Yumi An King, executive director and founding member of Aww Inc., proved to be a major highlight. King offered rare insights into the creation and impact of imma, Japan’s first hyper-realistic virtual human. Her presentation examined imma’s influence across fashion, digital identity and virtual influencer marketing, challenging conventional boundaries and sparking compelling dialogue. The full-day conference featured a robust programme of solo sessions and panel discussions that tackled the critical intersections of AI, data-driven storytelling and digital media strategies across ASEAN. Regional leaders exchanged perspectives on how emerging technologies are transforming commerce, community and culture. Reflecting on the event, MDA president and d Awards & d Conference 2025 organising chairperson Nicholas Sagau remarked, “This year, we didn’t just talk about innovation—we recognised it, celebrated it and shared it with the wider industry. From transformative conversations in the day to recognising digital excellence at night, it was a full-circle moment for Malaysia’s digital ecosystem. In a world increasingly shaped by AI and rapid change, what stood out most was the human creativity, collaboration and community spirit that brought it all to life.” The momentum continued into the evening with the seventh edition of the d Awards, celebrating the best in Malaysia’s digital marketing and creative landscape. The 2025 edition received a record-breaking 335 submissions from 30 agencies and publishers, marking a new high in creative ambition and excellence. With over 500 attendees, the ceremony introduced two new categories—Content Agency of the Year and Best Digital Audio & Podcast Campaign—signalling a recognition of voice-first formats and the expanding role of digital storytelling. Among the standout winners, Dentsu Malaysia was named Digital Agency of the Year. The SHOUT Group took home the coveted Grand Prix for Forgiveness: A Stranger Than Fiction – True Story…Brought to Life. Mehul Mandalia, co-founder of Moving Walls Group, was honoured as Digital Person of the Year, while Nihal Pravin Kedar of Publicis Media received the Rising Star 2025 title. The d Young Achievers initiative, an MDA-led talent development programme, returned to spotlight the next generation of digital leaders. Students were challenged to design digital-first campaigns utilising emerging technologies. Team Duckies from Taylor’s University secured the Gold award, while Team Pixel Riot and Team Thriventure Star 2.0—both from Sunway University—claimed Silver and Bronze respectively. The awards were presented by Farhan Qureshi, Country Director of Google Malaysia, the exclusive sponsor of the category. Sue-Anne Lim, co-organising chairperson and MDA council member, commented, “Each year, MDA raises the bar—and 2025 was no exception. With 420 delegates and over 500 guests, the d Conference and Awards have gained tremendous momentum. We examined how AI is reshaping the digital marketing landscape—from search and UX to creativity and content. This wasn’t just about disruption; it was about building the blueprint for what comes next.” Lim also noted the success of elevating the platform through global thought leadership and innovative sponsor engagement. “The traction proves one thing: we’re not just keeping up—we’re shaping what’s next. One thing for sure is that we will keep delighting delegates in the many conferences to come.” The MDA extended its gratitude to all sponsors and partners, including HEPMIL Malaysia, Taboola, Channel Factory, Teads, Blis, Gushcloud, LinkedIn, Locala, Google and Omnia. The d Awards are also recognised by the Research Company Evaluation of Media Agencies (Recma), affirming their credibility and significance within the global media industry. -The Star

Pelaburan Hartanah Bhd (PHB) has announced the reopening of 300 million units of Amanah Hartanah Bumiputera (AHB) for public subscription, providing a renewed investment opportunity for Bumiputera individuals seeking low-risk, Shariah-compliant returns backed by commercial real estate assets. The initiative, aimed at strengthening financial inclusion among Bumiputera communities—particularly those in the East Coast region—was unveiled by PHB Group Managing Director and Chief Executive Officer Mohamad Damshal Awang Damit. Speaking at the official launch of the Mayang Mall shopping centre, he highlighted that AHB remains a viable long-term investment and savings vehicle for the community. “These 300 million units are existing allocations being reopened for individual investors. Our priority is to increase participation from Bumiputera individuals, especially in Terengganu,” he said. Subscription for AHB units is available through authorised financial distributors, including Maybank, AmBank, AmBank Islamic and Bank Islam branches nationwide. Investors may also subscribe online via the MyAHB portal. Since its inception in 2010, AHB has recorded notable investor interest, amassing approximately 82,000 individual investors and 19 institutional investors. Over the past 14 years, a cumulative income distribution of RM2.32 billion has been disbursed to AHB investors. The launch event was officiated by His Royal Highness Sultan Mizan Zainal Abidin, Sultan of Terengganu, and attended by PHB Chairman Raja Tan Sri Arshad Raja Tun Uda. AHB operates as a Shariah-compliant unit trust fund, investing directly in prime commercial properties across Malaysia. The fund is structured to provide consistent, stable returns, with income distributions made on a biannual basis. The minimum investment threshold stands at RM100, with a maximum allowable investment of RM1 million per individual investor. -Bernama

MSM Malaysia Holdings Berhad (MSM), the producer of the national refined sugar brand Gula Prai, has expressed its appreciation to the Ministry of Finance for issuing a timely clarification regarding the implementation of the Sales and Services Tax (SST) on raw sugar imports. In a statement released today, the Ministry confirmed that while a five percent SST will apply to raw sugar—the primary input in refined sugar production—refined sugar manufacturers may apply for a tax exemption, subject to specific conditions. The clarification follows concerns raised by MSM during its Annual General Meeting, where the company highlighted the potential for significant cost pressures arising from the SST’s extension to raw sugar. MSM warned that an increase in input costs could influence the pricing structure of refined sugar, particularly for industrial consumers. MSM acknowledged the Ministry’s swift response and the clarity provided on the exemption mechanism, describing it as critical in the current economic environment. The retail price of sugar in Malaysia has been maintained at RM2.85 per kilogram since 2011, despite a consistent rise in global raw sugar prices over the years. “We are very grateful to the Ministry for its responsive and pragmatic approach in addressing industry concerns. The approval of the exemption application mechanism provides much-needed clarity and flexibility for sugar refiners like MSM. This allows us to proactively manage input costs and reduce immediate pressure on refined sugar prices, while continuing to fulfil our role in the country’s sugar supply chain under the existing retail pricing framework,” said MSM Group Chief Executive Officer, Syed Feizal Syed Mohammad. The group reaffirmed its commitment to collaborating closely with the government and stakeholders to ensure stability in both supply and pricing across the food industry. “While input cost management continues to be a priority, MSM would like to assure customers and partners that our focus on operational efficiency and fair pricing will continue. We are confident that the implementation of this exemption mechanism will have a positive impact in preserving the competitiveness of the country’s food manufacturing sector,” Syed Feizal added. -Berita Harian

Poh Huat Resources Holdings Bhd has reported a sharp decline in net profit for the second quarter ended 30 April 2025 (2QFY2025), citing softening demand from the United States and elevated input costs as key pressures on its earnings performance. The group posted a net profit of RM575,000 for the quarter, marking a significant 92.05% year-on-year drop from RM7.23 million recorded in the same period last year. This represents Poh Huat’s weakest quarterly result since the fourth quarter of FY2024, during which the company incurred a net loss of RM3.54 million. Revenue for the quarter declined by 9.24% to RM98.33 million, compared with RM108.35 million in 2QFY2024. The group attributed the contraction primarily to reduced orders of office furniture from its Malaysian operations. Management noted that several customers had front-loaded their purchases in the preceding financial period, driven by policy uncertainty following the re-election of Donald Trump as US president. Demand from the group’s Vietnam-based operations remained subdued as well. Shipments of home furniture were impacted by the imposition of new US import tariffs, prompting some American customers to delay their orders in April. Despite the challenging operating environment, Poh Huat declared a second interim dividend of two sen per share, payable on 24 July. This brings total dividends declared year-to-date to four sen per share. The group highlighted escalating raw material and labour costs as further pressure points, compounded by fixed factory overheads and lower capacity utilisation in both its Malaysian and Vietnamese production facilities. Gross profit margins were notably affected as a result. Foreign exchange movements also weighed on the company’s bottom line. Poh Huat recorded a forex loss of RM1.8 million for the quarter, contributing to a reduced net other income of RM700,000, compared with a forex gain of RM2.28 million and net other income of RM5.78 million in 2QFY2024. For the cumulative six-month period of FY2025, net profit declined by 42.65% to RM10.06 million, down from RM17.53 million in the corresponding period a year earlier. Revenue for the half-year stood at RM234.59 million, a slight decrease of 2.05% from RM239.49 million previously. Looking ahead, Poh Huat said it remains vigilant in monitoring developments in US trade policy, acknowledging that the industry continues to operate in a state of flux under the Trump administration. Shares in Poh Huat closed one sen or 0.93% lower at RM1.06 on Friday, valuing the company at RM295 million. The stock has declined 27% over the past twelve months. -The Edge

Maxim Global Bhd has lodged an appeal with the Court of Appeal in a bid to overturn a recent High Court decision that imposed a temporary stay on its high-rise residential project in Kuala Lumpur. In a statement filed on Friday, the property developer confirmed the stay relates to the development order granted by Kuala Lumpur City Hall (DBKL) in October 2017. The order permits the construction of five 30-storey residential blocks within the city. The stay was issued by the court pending the outcome of a judicial review initiated by a petitioner opposing DBKL’s approval. The petitioner argues that the development is inconsistent with both the Kuala Lumpur Structure Plan 2020 and the Kuala Lumpur City Plan 2020. Maxim stated that it was only made aware of the legal proceedings in August 2024 and subsequently sought to be included as a respondent in order to protect its commercial interests in the project. The group has now escalated the matter to the Court of Appeal, seeking to vacate the stay. Citing its legal counsel, Maxim expressed confidence in the likelihood of a favourable outcome. The company noted that the financial and operational impact of the stay remains indeterminate at this stage. “Until the status of the matter is clearer, the board is not in a position to determine the financial impact on the group,” it said. Shares in Maxim Global ended Friday’s trading down by half a sen, or 1.32%, at 37.5 sen. The company’s market capitalisation stood at RM275.73 million. -The Edge

Ecobuilt Holdings Bhd has announced the resignation of its Chief Executive Officer, Lim Chin Yen, after just four and a half months in the role. The construction group confirmed the departure in a filing with Bursa Malaysia, citing Lim’s intention to dedicate more time to family and personal interests. Lim, 48, officially stepped down on 20 June. He is succeeded by Fong Tuck Yong, 52, who brings over three decades of experience in managing and delivering construction projects. The leadership change comes as Ecobuilt continues to grapple with persistent financial losses. For the financial year ended 31 August 2024 (FY2024), the group reported a loss after tax of RM44.5 million. This compares to losses of RM31.1 million in FY2023 and RM13.6 million in FY2022. The latest annual result reflects a 15-month financial period, following a change in the company’s financial year-end from 31 May to 31 August. For its most recent quarter, the group remained in the red, posting a net loss of RM584,000 for the second quarter ended 28 February 2025 (2QFY2025), on revenue of RM15.48 million. Due to the adjusted financial year, no year-on-year comparative figure was provided. Ecobuilt stated that gross profit from ongoing projects was insufficient to cover operating expenses, which were primarily driven by depreciation and staff-related costs. Shares in Ecobuilt closed at three sen on Friday, up half a sen or 20%, giving the group a market capitalisation of RM13 million. Despite the short-term uptick, the stock has declined 54% over the past 12 months. -The Edge

KUALA LUMPUR: Gadang Holdings Bhd has announced that its wholly owned subsidiary, Gadang Engineering (M) Sdn Bhd, has been awarded a contract valued at RM92.5 million to undertake a portion of the Kuala Lumpur–Karak Highway widening project. According to a filing with Bursa Malaysia, the company received a letter of award from AFA Construction and Engineering Sdn Bhd for the execution of earthworks and related works under Package 2A of the highway upgrade. The scope of work covers the stretch between KM39.00 and KM61.50. The project is expected to span 18 months, with completion targeted for the fourth quarter of 2026. Gadang stated that the contract is anticipated to contribute positively to the Group’s earnings over the course of the contract period. -The Star