Malaysia

KUALA LUMPUR : Master Tec Group Bhd has formalised a strategic memorandum of understanding with Yangtze (Jiangsu) Marine Technology Company Limited (YOFC Marine) to explore collaboration in the development and distribution of high-specification and next-generation cable technologies in Malaysia’s evolving power infrastructure sector. Under the agreement, Master Tec is granted the rights to market and distribute YOFC Marine’s portfolio of advanced cable products across Malaysia. The collaboration may extend beyond domestic borders to selected regional markets, subject to mutual consent. The partnership signals a decisive move by Master Tec to strengthen its presence in the advanced cable systems segment, with a particular focus on marine and large-scale transmission projects. The initiative aligns with broader efforts to support the country’s critical utility and infrastructure growth. Executive Director and Chief Executive Officer Tee Kok Hwa described the agreement as a strategic convergence of capabilities. He noted that the growing demand for high-capacity, next-generation power cable solutions, especially for submarine and transmission applications, underscores the importance of the partnership. “This collaboration allows us to expedite our entry into new and technically demanding market segments, while ensuring we maintain the level of quality and performance our clients require,” Tee said. Master Tec closed trading at RM1.04, translating to a market capitalisation of RM1.06 billion. -The Star

Dagang Nexchange Bhd (Dnex) has been awarded a RM103.76 million contract by Malaysia’s Ministry of Finance to continue supporting the Integrated Government Financial and Management System (iGFMAS), reinforcing the company’s position as a strategic digital partner in public sector financial management. In a filing with Bursa Malaysia, the technology group confirmed that the five-year contract encompasses system maintenance, comprehensive support services, and application enhancements. The contract period spans 60 months, underscoring the long-term commitment to sustaining the operational integrity of one of the government’s most critical digital infrastructure systems. The iGFMAS platform serves as the digital backbone of the country’s federal finance operations. Dnex noted that the system plays an essential role in ensuring the efficiency, security, and transparency of Malaysia’s public financial management processes. This award not only strengthens Dnex’s footprint in the public sector IT ecosystem but also reaffirms its capability in delivering mission-critical digital solutions aligned with national objectives. -The Star

PETALING JAYA: MBSB Bank unveiled “WorksForMe”, a new payroll proposition designed to make saving and building wealth as seamless and rewarding as possible. Customers can enjoy meaningful benefits simply by banking with MBSB Bank, without having to meet complicated conditions. Targeted at Malaysia’s growing base of salaried employees, freelancers, gig workers, and side hustlers, WorksForMe is built for those who make sound financial decisions and want a bank that supports their journey, not complicates it. “Today, people are becoming more financially knowledgeable. They need to be provided with tools that align with their lifestyle and financial goals,” said Soo Bee Teong, Head of Liabilities and Proposition, Group Consumer Banking, MBSB Bank. “With WorksForMe, we have made it easy. You get access to a wide range of rewards, benefits, and flexibility just by crediting your income into your MBSB Bank account. No excessive conditions. No complexity. Just good value.” Perks Made Simple. Rewards Made Easy. Customers under WorksForMe enjoy: Fee-free ATM withdrawals at all MEPS ATMs nationwide. Access your money anytime, anywhere, without extra charges. Enjoy exclusive benefits when you open a new account with MBSB Bank from no initial deposit requirements to attractive profit rates, and even more rewards for joint accounts with your child. Enjoy competitive rates on Personal, Home, and Auto Financing offerings. Unit Trust investments at only 1.0% sales charge through a trusted fund aggregator, giving customers access to high-quality funds with low barriers. By integrating behavioural insights, WorksForMe supports financially literate customers in overcoming the common trap of present bias. It nudges them toward smarter, long-term decisions while giving them control and flexibility. “We believe in making savings and wealth-building frictionless. WorksForMe is how we honour that promise by ensuring that every Ringgit you save, spend, or invest with MBSB Bank adds up to a stronger financial future,” added Usman Ghouse, Group Chief Consumer Banking Officer of MBSB Bank. WorksForMe is now available at all MBSB Bank branches nationwide. For more information, visit www.mbsbbank.com or contact your nearest MBSB Bank branch.

United States oil major ConocoPhillips has announced its intention to expand its footprint in Malaysia by targeting new investment opportunities in Sabah, underlining its continued confidence in the country’s energy sector. Chief Executive Officer Ryan Lance confirmed that discussions are underway with national oil company Petroliam Nasional Bhd (Petronas), with a focus on strengthening collaboration through future ventures in the East Malaysian state. “We are going to invest in Sabah going forward, and we are exploring many opportunities with Petronas,” Lance stated following his participation in the “Gas and Liquefied Natural Gas (LNG): Investing for the Long Term” leadership dialogue, held during Energy Asia 2025 in Kuala Lumpur. The session also featured Petronas Gas and Maritime Executive Vice President and CEO Datuk Adif Zulkifli, and was moderated by Dr Atul Arya, Senior Vice President and Chief Energy Strategist at S&P Global. ConocoPhillips’ renewed interest in Sabah comes in the wake of its recent exit from the Salam-Patawali deepwater oil and gas field (Block WL4-00) off the coast of Sarawak. The project, discovered in 2018 as part of a 50:50 joint venture with Petronas, had an estimated value of RM13.7 billion (US$3.13 billion). The company stated that the move was part of a broader “country strategy review”, without providing further details. Despite the divestment, ConocoPhillips maintains a significant presence in Malaysia through five production sharing contracts (PSCs), four of which are situated in Sabah’s offshore blocks: Block G, Block J, the Kebabangan Cluster, and the recently acquired Ubah Cluster in 2024. During the dialogue, Lance reinforced the company’s optimism regarding the long-term viability of the LNG sector. He highlighted an evolving landscape in LNG contracting, pointing to the coexistence of short- and long-term agreements. “Generally, customers want flexibility, shorter-term contracts with some destination flexibility. But it remains to be seen whether the developer, purchaser, or seller of the LNG will offer that kind of flexibility,” he said. “That kind of optionality will be key to accessing arbitrage opportunities across global importing regions.” On the issue of pricing, Lance downplayed concerns that it could hinder market entry in Asia. “There will be ups and downs, as there always are in this business, but overall the outlook remains positive over the long term,” he said, affirming ConocoPhillips’ constructive stance on LNG price trends. -Bernama

KUALA LUMPUR: Berjaya Land Bhd (BLand) has formalised a memorandum of understanding (MoU) with Impianan Utara Sdn Bhd to explore rare earth element (REE) mining activities, alongside large-scale agricultural initiatives involving Napier hybrid grass and Blackthorn durian cultivation in Perlis. According to a statement issued by BLand, the collaboration will be carried out in partnership with Menteri Besar Inc (MBI) Perlis, the state’s investment arm. This strategic alliance aligns with BLand’s broader ambitions to diversify into the rare earths sector, with a focus on the exploration and development of rare earth elements and other strategic minerals within the northern state. The company highlighted that Impianan Utara has already secured the necessary approvals at the state level, facilitated through its partnership with MBI Perlis. This approval provides the foundation for the commencement of exploration and potential commercial development in the rare earths segment. In addition to mining activities, the joint venture will oversee the development of a large-scale plantation project. This agricultural initiative will involve the cultivation of Napier hybrid grass, a high-yield fodder crop, as well as the premium Blackthorn durian, a variety prized in both domestic and export markets. BLand stated that the collaboration marks a significant step in expanding its portfolio into strategic resource and agribusiness sectors, supporting state-level development goals in Perlis. -The Star

Sunway Construction Group Bhd (SunCon) is on course to exceed its full-year job win target, bolstered by robust momentum in securing high-value data centre projects. Maybank Investment Bank Research (Maybank IB Research) has raised its forecast for SunCon’s new contract wins in FY25 to RM8 billion, significantly above the group’s original target of RM4.5 billion to RM6 billion. To date, SunCon has secured RM3.5 billion in new projects. The group is now eyeing additional data centre contracts valued between RM1 billion and RM1.2 billion, with at least one expected to be confirmed in the third quarter of FY25. Discussions are reportedly underway with multiple clients, including Pearl Computing and three other potential partners, one of which is a Nasdaq-listed company. These developments, according to Maybank IB Research, mark a major pivot toward technology-driven infrastructure demand and place SunCon in a strong position to capitalise on this trend. Data centre-related work now dominates the group’s tender pipeline. Internal projects from parent company Sunway Bhd are also poised to contribute to SunCon’s earnings trajectory. Two major healthcare facilities — Sunway Medical Centre Putrajaya and Sunway Medical Iskandar Puteri — are slated for launch this year. Each hospital will have a capacity of 300 beds and is estimated to contribute approximately RM500 million in contract value, based on a projected capital expenditure of RM1.5 million to RM1.6 million per bed. Over the longer term, SunCon anticipates further internal contract awards, including jobs linked to Sunway’s rapid transit system-oriented developments and the Seremban Sentral project. On the back of these positive catalysts, Maybank IB has revised its earnings estimates for SunCon upwards by 20% to 30% for FY25 through FY27. The research house has reaffirmed its “buy” recommendation on the stock, raising its target price to RM6.72. Affin Hwang Investment Bank Research echoed this positive outlook, projecting a 27% compound annual earnings growth rate from 2025 to 2027, driven predominantly by the group’s data centre order book, which comprises over 80% of its active tenders. The recovery of SunCon’s precast segment is also anticipated to support earnings. This division experienced a 33% drop in revenue in FY24 but is expected to rebound, driven by Singapore’s Housing and Development Board’s plan to launch 500,000 new flats. Nonetheless, the segment’s contribution to total revenue is likely to remain modest at 5% to 6%, given the dominant role of the construction division. Despite the strong growth trajectory, Affin Hwang has downgraded its call on SunCon to “hold” from “buy”, citing valuation concerns. The firm maintained its target price at RM5.90 and noted that the current share price may already reflect much of the positive outlook. -The Star

Bina Puri Holdings Bhd is poised to return to profitability in the financial year ending 30 June 2025 (FY25), marking its first core profit since FY2019, according to a recent note by TA Research. The firm is projected to achieve a core net profit of RM7.8 million in FY25, signalling a significant turnaround for the construction and infrastructure group. TA Research further anticipates a robust growth trajectory for Bina Puri, with core earnings expected to rise by 69.2% to RM13.2 million in FY26 and an additional 11.4% increase to RM14.7 million in FY27. These forecasts are underpinned by assumptions of new construction contracts valued between RM300 million and RM500 million spanning FY26 and FY27, along with steady revenue contributions of RM56 million to RM60 million from investment properties over FY25 to FY27. Other business segments—including quarry, power, and durian plantations—are expected to have minimal impact during this period. Insights from a recent engagement with Bina Puri’s new management indicate FY25 will be a pivotal year for the company. TA Research highlighted the importance of management’s ability to complete legacy projects and secure new contracts with sustainable margins, particularly in Sarawak, in order to support long-term earnings growth. Despite the promising outlook, TA Research has advised risk-averse investors to adopt a cautious stance until there is clearer evidence of execution capability from the new leadership. Conversely, for investors with a higher risk appetite, the Kuala Lumpur–Kuala Selangor Expressway (Latar Highway) may serve as a strategic asset. Although the concession turned profitable in 2023, its contribution has not yet been reflected in the company’s income statement. TA Research noted that the highway is expected to deliver stable earnings and strong cash flows, potentially acting as a financial buffer for the group moving forward. -The Star

KUALA LUMPUR : Palm oil futures surged past the RM4,000 threshold, driven by a rally in soybean oil and crude oil prices, following a significant policy proposal from the United States aimed at boosting biofuel blending mandates. The US Environmental Protection Agency (EPA) on Friday unveiled a long-anticipated proposal that would require American refiners to blend a record 24.02 billion gallons of biofuels into conventional petrol and diesel in 2026. This figure represents a near 8% increase over the 2025 target and exceeded most market expectations. The proposed mandate is part of broader efforts to stimulate domestic biofuel production while reducing dependency on imports. The news sent soybean oil prices in Chicago soaring more than 6% on Friday, with gains extending into Monday trading. This marked the strongest two-day performance for the commodity in nearly three years. Palm oil followed suit, with futures in Kuala Lumpur climbing as much as 4.1%, mirroring the bullish sentiment in edible oils. Analysts from CIMB Securities, Ivy Ng and Lim Yue Jia, highlighted in a client note that the EPA’s proposal is “supportive of edible oil demand and crude palm oil prices, as the biodiesel mandate will help sustain US consumption of edible oils”. Further fuelling palm oil’s rally is the surge in global crude oil prices, triggered by escalating tensions in the Middle East. Brent crude, the international benchmark, extended Friday’s 7% surge as investors priced in potential supply disruptions from a region responsible for approximately one-third of the world’s crude output. Darren Lim, commodities strategist at Phillip Nova Pte Ltd, noted that any further escalation could significantly impact energy supply chains. “A potential escalation could disrupt oil supplies, pushing energy prices higher and increasing both the cost of palm oil production and demand for biofuels,” he stated. “Biofuels become more competitive when crude prices rise, often prompting shifts in demand away from petroleum-based fuels,” he added. With rising geopolitical risks and strong policy tailwinds in the US, palm oil markets are likely to remain volatile yet supported in the near term. -Bloomberg

The Federal Land Development Authority (Felda) has confirmed the dispatch of offer documents relating to its plan to privatise FGV Holdings Bhd, with the offer period scheduled to close at 5pm on Monday, 7 July 2025, unless extended. In a formal filing with Bursa Malaysia, Felda stated that the offer — facilitated through Maybank Investment Bank Bhd (Maybank IB) — will remain open for acceptance until the designated closing date, or any later date to be determined and announced by Maybank IB on Felda’s behalf. This offer is part of Felda’s unconditional voluntary takeover bid to acquire all remaining FGV shares at RM1.30 per share. As of the latest disclosure, Felda, together with its wholly-owned subsidiary Felda Holdings Co Sdn Bhd, collectively holds an 82.34% equity interest in FGV. Despite this substantial shareholding, Felda noted that it currently exercises limited influence over the management of FGV, citing the absence of control over the board of directors. The agency has expressed its intention to optimise synergies within the group following successful privatisation. “Upon successful privatisation, Felda will be better positioned to enhance FGV Group’s operational and financial efficiencies by streamlining its upstream and downstream plantation operations,” the agency said. -Bernama