Malaysia

OCI Tokuyama Semiconductor Materials Sdn Bhd (OTSM), a joint venture equally held by South Korea’s OCI TerraSus and Japan’s Tokuyama Corporation, is set to invest RM2 billion in a state-of-the-art manufacturing facility in Samalaju Industrial Park, Bintulu. The new plant will focus on the production of high-purity semiconductor-grade polysilicon, a key material in advanced chip manufacturing. The project marks a significant milestone in Sarawak’s industrial development, with the groundbreaking ceremony scheduled for this Wednesday, officiated by Sarawak Premier Tan Sri Abang Johari Tun Openg. OTSM’s facility is expected to create 200 skilled employment opportunities for Sarawakians and will operate continuously to meet rising global demand. Chief Executive Officer Steve Choi confirmed that the plant will be developed in a single phase and is targeted for completion in the first quarter of 2027, with full production anticipated by January 2029. Once fully operational, the plant will produce up to 8,000 tonnes of semiconductor-grade polysilicon annually. OTSM has secured a 10-year power purchase agreement with Sarawak Energy Bhd, under which 70 percent of the plant’s electricity needs will be supplied by renewable hydropower, with the balance drawn from gas and coal-based sources. This arrangement underscores OCI and Tokuyama’s commitment to low-carbon industrial development and sustainable manufacturing practices. According to Choi, the semiconductor-grade polysilicon produced at the facility is foundational to modern technologies, ranging from smartphones and electric vehicles to solar energy systems and artificial intelligence applications. He noted that the material will play a critical role in enabling the AI-driven economy, supporting data centres, smart factories and EV technologies. The OTSM plant is strategically positioned to supply major technology players in South Korea, Japan and Taiwan, enhancing regional supply chain resilience. With global demand for semiconductor-grade polysilicon currently at approximately 50,000 tonnes annually, OTSM is set to supply close to one-sixth of that volume, firmly establishing itself as a key player in the global market. The high value of the material is reflected in its pricing, which stands at US$40 per kilogram—double that of solar-grade polysilicon. This investment marks OCI’s third major initiative in Sarawak. The company’s entry into the state began in 2017 with the acquisition of Tokuyama Malaysia’s polysilicon plant, now operated under OCI TerraSus. With an annual capacity of 35,000 tonnes, the facility produces high-purity solar-grade polysilicon used in photovoltaic solar cells. OCI TerraSus has since invested over RM8 billion to expand its operations. OCI’s second major undertaking involves a joint venture with South Korea’s Kumho Petro Chemical Group—OCIKumho—establishing a RM1.7 billion plant to produce epichlorohydrin (ECH), a critical input for epoxy, synthetic glycerin and special rubber. Production at this facility is expected to commence by the end of 2025. The ECH plant will also harness hydropower and utilise bio-glycerin and natural salts in its manufacturing process. Choi emphasised Sarawak’s strategic advantages, citing its proximity to key Asian markets, reliable renewable energy infrastructure, political stability and investor-friendly policies under the Post-Covid Development Strategy 2030. He also praised initiatives such as the Centre for Technology Excellence Sarawak (CENTEXS) and government support in advancing technical capabilities. He noted that OCI TerraSus is actively building an ESG-centric, circular industrial ecosystem in Sarawak that integrates chlor-alkali production with ECH and semiconductor-grade polysilicon manufacturing. This cohesive value chain supports Sarawak’s sustainability goals and positions the state as a model for green industrialisation in the region. Looking ahead, Choi said the OTSM facility would enable further research and development collaboration, promote upstream and downstream investments, and integrate Sarawak more deeply into the regional semiconductor ecosystem. The initiative also aligns with Malaysia’s National Semiconductor Strategy by anchoring high-value materials manufacturing locally and advancing the nation’s position in the global chip supply chain. -The Star

Bank Islam Malaysia Berhad has renewed its strategic collaboration with the Football Association of Malaysia (FAM) for the fifth consecutive term, reinforcing its continued commitment to the advancement of national football. The extended partnership encompasses a range of joint marketing efforts, including the continuation of the Team Harimau co-branded Debit Card-i initiative. This collaboration not only seeks to bolster support for the national football squad, Harimau Malaya, but also encourages wider adoption of digital banking and cashless payments across the country. Mizan Masram, Group Chief Business Officer (Retail Banking) at Bank Islam, expressed appreciation for FAM’s enduring confidence in the bank’s role as a strategic partner. “Bank Islam is truly grateful to FAM for the trust placed in us and agreeing to extend this strategic collaboration. This partnership reflects our commitment to fostering the spirit of sportsmanship and strengthening support for a team that carries the nation’s hopes,” he said. Under the terms of the agreement, Bank Islam will continue to drive fan engagement through both digital and on-ground activation initiatives at FAM-affiliated events. These efforts include the deployment of promotional booths on match days, co-branded campaigns, social media content, and fan-centric contests aimed at strengthening the emotional connection between supporters and the national team. The specially designed Team Harimau Debit Card-i offers fans a tangible means of expressing their loyalty, while benefiting from ATM withdrawal capabilities and seamless electronic payments for local and international transactions. In support of grassroots football development, Bank Islam will contribute RM2 to FAM for every issuance, annual renewal, and replacement of the debit card. The funds are designated to aid talent cultivation and enhance football programmes nationwide. Since its inception, the Team Harimau Debit Card-i has garnered over two million users, underscoring its resonance with Malaysian football supporters and its role in promoting financial inclusion. -New Strait Times

AIA Malaysia has once again affirmed its dominance in the life insurance and financial services industry by being recognised as the top Million Dollar Round Table (MDRT) company in Malaysia for the ninth time. The MDRT is a globally recognised association for financial professionals, widely regarded as the benchmark for excellence in the life insurance and financial services sectors. Membership requires stringent performance criteria and adherence to the highest ethical standards and professional conduct. In a statement issued today, AIA Malaysia confirmed it had achieved a total of 870 MDRT qualifiers in 2025. This figure includes 14 Top of the Table (TOT) members, 74 Court of the Table (COT) members, and 782 MDRT members, further solidifying its standing as a leader in the field. At the regional level, the AIA Group reported an impressive 19,358 MDRT qualifiers across its markets as of July 2025. This marks the eleventh consecutive year AIA has held the title of the world’s leading MDRT multinational, underlining the group’s continued investment in developing a high-calibre, professional agency force across Asia. Commenting on the achievement, AIA Malaysia Chief Executive Officer Ben Ng said the recognition is a reflection of the company’s unwavering focus on professionalism and customer service. “This accomplishment reinforces our commitment to building the most professional agency force—one that consistently supports our customers in living healthier, longer and better lives. With a commanding lead in the number of MDRT qualifiers, we have once again set the benchmark for excellence in Malaysia,” he said. In addition to its national success, AIA Malaysia has also achieved notable rankings in the 2025 MDRT listings, including a Top 20 Global Ranking, a position among the Top 15 Companies by Retention Rate, and a Top 20 placement for the Number of Female Members. These milestones are a testament to the company’s sustained focus on nurturing purpose-driven, highly trained advisors, supported by advanced digital tools and a culture rooted in service excellence. AIA Malaysia is part of AIA Group, the largest independent publicly listed pan-Asian life insurance group. With over 75 years of presence in the country, the group’s operations in Malaysia comprise AIA Bhd, AIA PUBLIC Takaful Bhd, AIA General Bhd, and AIA Pension and Asset Management Sdn Bhd. The group continues to provide comprehensive insurance and takaful solutions to Malaysians, offering both conventional and Shariah-compliant products across life and health protection, family takaful, employee benefits, motor, personal accident, mortgage, commercial insurance and retirement planning. -Bernama

SkyGate Solutions Bhd has announced a strategic move to increase its stake in SkyGate Integration Sdn Bhd to 95%, following a RM9.8 million share-based acquisition agreement. In a filing with Bursa Malaysia, the telecommunications and technology company confirmed it has entered into a share sale agreement with Ong Chee Fui to acquire a further 44% equity interest in SkyGate Integration. The purchase will be entirely satisfied through the issuance of approximately 14.63 million new SkyGate shares at 67 sen per share. This latest development builds upon SkyGate’s earlier acquisition disclosed on 15 April 2025, in which the group acquired a 51% interest in SkyGate Integration for RM10.71 million in cash. As part of that transaction, SkyGate Integration had an outstanding debt of RM1.08 million to Ong Chee Fui, stemming from a loan provided by Kumpulan Modal Perdana Sdn Bhd. Under the terms of the current proposal, the RM1.08 million debt will be settled via the issuance of 1.61 million new SkyGate shares, also priced at 67 sen per share. Following the completion of this transaction, SkyGate Integration will become a 95%-owned subsidiary of SkyGate Solutions. The group stated that the proposed acquisition aligns with its long-term strategic objective of expanding operations and enhancing shareholder value. SkyGate highlighted that this consolidation will not only strengthen its market positioning but also bolster its presence in the electrical and electronics (E&E) sector. The integration of SkyGate Integration’s capabilities in software development, system integration and technology solutions is expected to complement the group’s existing services, enabling a broader offering to a wider client base. -The Star

Jasa Kita Bhd has announced that two of its major shareholders, Tan Sri Tan Hua Choon and Datuk Seri Tan Han Chuan, have signed a conditional share sale agreement to dispose of their collective 40.33% equity stake to Kintan Prima Sdn Bhd for RM68.9 million in cash. The transaction, valued at 38 sen per share, involves 181.31 million shares in total. According to a Bursa Malaysia filing, the acquisition will significantly increase the collective shareholding of Kintan Prima, its director and controlling shareholder Abd Azis Mohamad, and persons acting in concert, Datuk Seri Iskandar Mizal Mahmood and Datuk Dr Yasmin Mahmood. This group currently holds 44 million shares in Jasa Kita, representing a 9.79% equity interest. Following completion of the proposed acquisition, their combined stake will rise to 225.32 million shares, equivalent to a controlling 50.12% of the company. In accordance with regulatory requirements, the acquirers will be obligated to extend a mandatory general offer to remaining shareholders, also priced at 38 sen per share. This represents a modest premium to Jasa Kita’s last traded price of 36.5 sen. Jasa Kita Bhd, a company engaged in the trading and distribution of industrial tools, mechanical air tools, and bathroom products, is simultaneously undertaking a strategic divestment of assets. Its wholly owned subsidiary, JKB Development Sdn Bhd, has entered into a conditional sale and purchase agreement with Logik Damai Sdn Bhd to dispose of four parcels of freehold industrial land in Gombak, Selangor, for RM38 million in cash. The four parcels collectively span 14,086 square metres. The group expects to realise a net gain of RM29.5 million from the land disposal. Of the total proceeds, RM19 million has been earmarked for working capital purposes. These developments underscore a significant shift in Jasa Kita’s ownership structure and asset base as it realigns for future growth and operational optimisation. -The Star

Malaysia has taken a strategic step toward strengthening its digital finance landscape with the official launch of the Digital Asset Innovation Hub, inaugurated by Prime Minister Dato’ Seri Anwar Ibrahim at the Sasana Symposium 2025. Spearheaded by Bank Negara Malaysia (BNM), the initiative is designed to catalyse financial innovation within a regulated framework. The launch forms part of a broader agenda during the two-day symposium, held on 17 and 18 June at Sasana Kijang, which gathers key stakeholders from government, industry, academia, and civil society to examine policy reforms aimed at building a more resilient and inclusive national economy. Positioned as a sandbox for emerging digital finance technologies, the hub offers a safe and structured environment for innovators to test new solutions, particularly in areas such as programmable money and a potential ringgit-backed stablecoin. While further technical specifics have yet to be disclosed, Prime Minister Anwar’s announcement signals a growing commitment to exploring advanced financial technologies under Malaysia’s regulatory oversight. In parallel, the Climate Finance Innovation Lab was also introduced during the event. Led by the Joint Committee on Climate Change (JC3), the lab seeks to align financial innovation with climate resilience goals, marking another milestone in the country’s integrated approach to structural reform. Under the theme “Structural Reforms: Building a Resilient Malaysia,” the Sasana Symposium 2025 comprises 23 sessions, featuring panel discussions, fireside chats, and workshops that address a spectrum of pressing national issues. Topics include inflation management, cost of living, healthcare financing, social protection mechanisms, digital assets, and climate-related financial strategies. Adding a social finance dimension to the symposium, Bazar iTEKAD showcases 14 microentrepreneurs out of more than 10,000 beneficiaries of the iTEKAD programme. This initiative combines blended financing with structured capacity-building support, enabling small business owners to enhance operational scalability and sustainability. In line with Malaysia’s upcoming ASEAN Chairmanship in 2026, the event also features the immersive ASEAN Tunnel exhibition. Designed to engage visitors through visual and auditory storytelling, the exhibit highlights BNM’s regional leadership in promoting instant payment connectivity, strengthening local currency settlement frameworks, and supporting ASEAN’s climate ambitions. BNM Governor Dato’ Seri Abdul Rasheed Ghaffour underscored the collaborative nature of structural reforms in his opening remarks. “Structural reforms are not something one institution or individual can tackle alone. It requires a whole-of-nation approach,” he said. “Reforms and policies are not mere ideas on paper. They can make a real difference in the everyday lives of Malaysians. Through panel sessions, fireside chats and workshops, we share not only what we do, but why we do it. From topics like financial literacy and digital assets, to climate finance and even healthcare reforms, these are the building blocks of a stronger, more resilient Malaysia.” BNM is expected to provide further clarification on the Digital Asset Innovation Hub in due course. -Fintech News

Oversea-Chinese Banking Corporation (OCBC) has announced that Chief Executive Officer Helen Wong will step down at the end of December, concluding a four-year tenure that marked a period of record profitability for Singapore’s second-largest lender. The bank confirmed on Friday that Tan Teck Long, currently Head of Global Wholesale Banking, will succeed Wong from January. Tan, a Singaporean national, joined OCBC in 2022 from DBS Group Holdings, where he held the role of Chief Risk Officer. Under his leadership, OCBC’s wholesale banking division has delivered a compound annual growth rate of approximately 25% in profit over the past three years, according to the bank’s statement. Wong, 64, made history in April 2021 as the first woman to lead a major Singaporean bank. Her tenure was characterised by a strong financial performance, with OCBC reporting record profits for three consecutive years. In February this year, she announced the bank’s largest capital return programme to date, amounting to S$2.5 billion (approximately US$1.95 billion or RM8.3 billion) through special dividends and share buybacks over two years. OCBC Chairman Andrew Lee noted that Tan’s appointment followed a “rigorous global search” and was unanimously approved by the board. Tan, 55, is expected to bring continued strategic leadership to the group, particularly given his track record in wholesale banking and risk management. Wong’s retirement was announced in the same week that OCBC’s longstanding effort to take full control of regional insurer Great Eastern Holdings fell short. Despite owning nearly 94% of the company, OCBC failed to secure sufficient shareholder support for a delisting proposal. Wong later stated via LinkedIn that the bank had entered the meeting “already satisfied” with its existing stake and does not intend to make another offer for Great Eastern “in the foreseeable future.” Throughout Wong’s tenure, OCBC’s shares rose by 43%, outperforming the 29% gain in the benchmark Straits Times Index. However, the bank’s stock performance has trailed that of DBS, which also underwent a leadership change earlier this year. Wong, a seasoned banker originally from Hong Kong, spent 27 years at HSBC Holdings, most recently overseeing its Greater China operations. She joined OCBC shortly before the onset of the COVID-19 pandemic, having initially been appointed to lead its global wholesale banking business. Despite calls from analysts during her leadership to pursue strategic acquisitions and deploy excess capital, OCBC was perceived as more conservative in expansion compared to rivals DBS and United Overseas Bank, both of which have been more active in regional asset growth. -Bloomberg

Bank Muamalat Malaysia Berhad has officially launched ArRahnu BIZ, a new Shariah-compliant financing solution tailored for registered companies—including Sdn Bhd entities and sole proprietorships—offering access to capital of up to RM5 million, secured by gold collateral. In a statement, the bank described ArRahnu BIZ as a strategic addition to its suite of financial services, aimed at empowering local entrepreneurs through flexible, ethical, and secure financing aligned with Islamic principles. “This initiative reflects our commitment to expanding financial literacy, supporting the continuity of community-based businesses, and advancing our mission to build a better life together,” Bank Muamalat stated. The bank also hosted a prize-giving ceremony at its Sungai Petani branch in Kedah to celebrate the main winners of its Gadai Emas Menang Emas 2.0 (GEME 2.0) campaign. The campaign, which ran from 1 March to 31 December 2024, generated revenue exceeding RM40 million and recorded total financing of RM811 million—a figure underscoring strong consumer trust in the bank’s Ar-Rahnu offerings. Three grand prize winners were awarded a combined RM200,000 worth of gold jewellery. The awards were presented by Bank Muamalat’s Director of Retail Banking, Mohammad Zalman Jalil. “GEME 2.0 demonstrates that Ar-Rahnu is more than a financial facility—it is a practical, ethical, and immediate form of financial empowerment,” said Mohammad Zalman. Following the campaign’s positive reception, Bank Muamalat has announced the launch of GEME 3.0, running from 1 March to 31 December 2025. This latest edition will offer RM320,000 worth of gold prizes. Further information on ArRahnu BIZ and the GEME 3.0 campaign is available via the bank’s official website at www.muamalat.com.my or through its customer service centre at 03-2600 5500. -Bernama