Malaysia

KUALA LUMPUR: Bursa Malaysia Berhad has announced the resignation of its Chief Financial Officer (CFO), Rosidah Baharom, effective today. In a filing with the stock exchange, the bourse operator stated that Rosidah is stepping down to pursue personal interests. “The Board, through its Nomination and Remuneration Committee, had earlier commenced a process to identify and appoint a new CFO for the company,” the statement read. An announcement regarding the permanent appointment will be made in due course. In the interim, Rasmona Abdul Rahman, currently Executive Vice President of Group Finance and Corporate Services, will assume the role of Acting CFO with immediate effect. -Bernama

AMMB Holdings Bhd has revealed that loans directly tied to the trade segment constitute a mere 4.7 percent of its total loan portfolio, reflecting minimal exposure. This assessment is aligned with similar trends observed across other banking institutions, according to CIMB Securities. CIMB Securities noted that while the direct exposure to the trade segment remains low, the market’s primary concern lies with the potential second-order knock-on effects, which most banks are finding challenging to quantify at present. The financial group highlighted that AMMB’s exposure to sectors directly related to US trade amounts to RM6.4 billion, equating to 4.7 percent of its overall loans and involving 143 customers. The total loan commitment approved for these trade-related loans stands at RM9.3 billion. AMMB has categorised the 143 customers with a cumulative exposure of RM6.4 billion into three groups based on the level of revenue impact. The first group, with a high direct impact where more than 50 percent of revenue is affected, represents RM140 million. The second group, experiencing a moderate impact with 25 to 50 percent of revenue affected, accounts for approximately RM680 million. The remaining amount, representing RM6.4 billion, is attributed to low-impact customers, where less than 25 percent of revenue is affected. CIMB Securities pointed out that most of these customers are classified as high-grade, typically possessing robust balance sheets. The report also indicated that loans related to the electrical and electronics sector total RM935 million, representing 0.7 percent of AMMB’s total loans, with RM1.1 billion in approved loans spread across 95 customers. In the furniture segment, loans amount to RM600 million, making up 0.4 percent of total loans, involving 220 customers. Maintaining a neutral stance, CIMB Securities reiterated its ‘Hold’ rating on AMMB and kept the target price unchanged at RM5.70 for the financial year 2026. This valuation is based on an anticipated return on equity of 8.6 percent for the calendar year 2026 and a fair price-to-book ratio of 0.9 times. -Business Times

Lynas Rare Earths Malaysia has officially commenced the production of separated heavy rare earths at its advanced facility in Kuantan. The milestone marks a significant achievement for the company, which now operates the only commercial facility outside China producing these essential materials. In a statement, Lynas highlighted that the facility’s new heavy rare earths production line, commissioned earlier this year, has successfully produced dysprosium oxide (Dy). The plant is also set to begin production of terbium (Tb) in June. Both materials are critical components in the manufacturing of high-performance rare earth magnets, widely utilised in electric vehicles and advanced electronics, including micro-capacitors. According to Lynas, the successful establishment of the heavy rare earths separation circuit demonstrates the advanced skills and expertise of its workforce. Chief Executive Officer and Managing Director Amanda Lacaze expressed pride in the team’s accomplishment, noting that the production of Dy represents a strategic development in the company’s operations. Lacaze further emphasised that the addition of separated heavy rare earths enhances Lynas’ position as a global supplier of essential materials for modern manufacturing. Located within the Gebeng Industrial Estate, a prominent petrochemical zone near Kuantan on the east coast of Peninsular Malaysia, the Lynas Malaysia plant occupies a 100-hectare site. Since its inception in 2012, the facility has supplied separated rare earth materials to markets in East Asia, the United States, and Europe. The plant processes Mt Weld concentrate and mixed rare earth carbonate through three primary stages: cracking and leaching, solvent extraction, and product finishing. The separated materials produced at the site play an essential role in a range of high-tech applications, including electronics, wind turbines, and hybrid and electric vehicles. Lynas Malaysia’s latest advancement underscores the country’s growing involvement in the global rare earth supply chain, positioning both the company and Malaysia as key players in meeting the increasing demand for advanced manufacturing materials. -The Edge Malaysia

KUALA LUMPUR: In an industry-defining collaboration, SAMA (Southeast Asia Marketing Alliance) and MISSION Hubs, the international partner network ecosystem of the UK-based MISSION Group plc (TMG.L), have formalised a Memorandum of Understanding (MoU) that brings together two of the most dynamic agency ecosystems in the world. This agreement paves the way for seamless cross-border execution, allowing brands and agencies to move with agility between Asia and the West. This marks one of the first alliances of its kind – a deliberate convergence of independent agency networks designed not just to share resources, but to grow together. With this agreement, both networks signal a strong commitment to redefining how creative, digital, and strategic work can be delivered internationally, without losing the local context that makes it resonate. Recent industry forecasts anticipate global advertising revenue to reach USD 1 trillion by 2026, with the Asia Pacific region accounting for a substantial share of that growth1. “As business seeks to adjust to an increasingly dynamic, changing global trading environment, the need for agencies to adapt ahead of their client’s requirements is ever more important. This environment highlights a shift and rising demand for trusted, agile partners with deep local insight – exactly the kind of solution this SAMA–MISSION Hubs collaboration is poised to deliver”, shares Paul Squirrell, Managing Director, MISSION Hubs Network. He also adds that “As marketers, we know that creativity is most powerful when it’s culturally relevant. This collaboration allows us to tap into the authenticity and local understanding that SAMA brings to the table – while giving their members access to the global thinking and frameworks that our clients expect. It’s a win–win for agencies, and even more so for the brands they serve.” SAMA represents a growing regional alliance of independent agencies from Malaysia, Singapore, Indonesia, Thailand, Vietnam, and Hong Kong, with capabilities spanning over 16 marketing and communications disciplines. MISSION Hubs, is an independent partner agency ecosystem supported by MISSION Group, a holding company of 13 award-winning agencies across creative, digital, PR, performance marketing, data, and AI. This affiliation will see both networks exchanging client leads, co-developing projects, and sharing tools, resources, and learnings. SAMA members will gain access to MISSION’s advanced MarTech platforms and international pitch materials, while MISSION Hubs agencies can lean into the hyperlocal expertise and on-the-ground execution that SAMA members offer across the region. “This isn’t just about working together. It’s about rising together,” said Chan Leong Teng, Founder and Regional President of SAMA. “Independent agencies often compete with global networks on flexibility and creativity, but partnerships like this give us the infrastructure to deliver at scale – across markets, cultures, and time zones – with the same heart and hustle we’re known for.” For MISSION Hubs, the alliance facilitates the growth of their global footprint and opens a direct path into Asia’s most exciting growth markets – without needing to invest in bricks-and-mortar presence. It also enables their agency partners to offer clients a streamlined path to Southeast Asia market entry and activation. The first activation will take place in May 2025 through a virtual conference that brings together agency leaders from both networks. Attendees will be introduced to the partnership roadmap, explore co-pitching opportunities, and participate in workshops designed to accelerate collaboration. With over 50 cross-referral opportunities expected in the first year, and plans underway for co-branded webinars, whitepapers, and learning sessions, the SAMA–MISSION Hubs partnership is set to become a blueprint for how independent agencies can compete – and thrive – on the global stage.

KUALA LUMPUR: Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company”) recorded strong revenue and profit growth in the first quarter ended 31 March 2025, with revenue rising 36.2% to RM262.74 million compared to RM192.97 million in the same period last year. The revenue growth was driven by good performance across all business sectors, with a notable surge in the supply of insulin as supply regularised to fulfill all outstanding orders coupled with enhanced sales to the public sector. At the same time, industry-wide normalisation of Active Pharmaceutical Ingredient (API) prices to a pre-pandemic level also contributed to profit growth. The profit before tax (PBT) and profit after tax (PAT) for Q1 FY2025, recorded at RM33.74 million and RM25.64 million respectively, both improved by 67.8% year-on- year. Similarly, the Company achieved robust quarter-on-quarter performance, with Q1 FY2025 revenue growing 35.7% compared to Q4 FY2024, while PBT and PAT rose by 93.4% and 70.0% respectively in the same period. Leonard Ariff Abdul Shatar, Group Managing Director of Duopharma Biotech Berhad, commented, “The Group is off to a strong start in the first quarter of 2025, driven by sustained growth momentum and operational resilience. We see a favourable domestic market, and are pleased to continue contributing towards strengthening Malaysian healthcare capabilities and community wellness with our comprehensive portfolio of effective and innovative products. Meanwhile, in light of global economic uncertainties, we are vigilant in monitoring for potential impact, while remaining focused on enhancing operational efficiencies, optimising cost management strategies, and adapting to evolving market conditions, to remain competitive in the face of rising costs.” In April 2025, Duopharma HAPI Sdn Bhd, a wholly-owned subsidiary of the Company, received and accepted one Letter of Offer (LOO), and Duopharma Manufacturing (Bangi) Sdn Bhd, a wholly-owned subsidiary of the Company, received one additional LOO from Pharmaniaga Logistics Sdn Bhd for the supply of pharmaceutical and non- pharmaceutical products under the Ministry of Health Malaysia’s Approved Products Purchase List (APPL) to healthcare facilities operated by the Malaysian Government. With these additional LOOs plus the other LOOs received by the Group earlier, the Group is now contracted to supply a total of 100 products with a combined estimated value of approximately RM684.15 million, until 31 December 2026. During Q1 FY2025, the Group paid a second interim dividend of 2.0 sen per share (2024 corresponding quarter: 1.8 sen) equivalent to RM 19.24 million (2023 corresponding quarter: RM17.32 million) in respect of financial year ended 31 December 2024.

Malaysia is calling on the World Trade Organization (WTO) to intensify its support for developing and least-developed countries while undertaking necessary reforms to remain relevant in the evolving global trading landscape. Speaking at the 31st Apec Trade Ministers’ Meeting in Jeju, South Korea, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stressed the need for the WTO to address the challenges that have undermined its effectiveness. “We must examine the issues that have diminished the WTO’s role and have the courage to implement changes at the organisational level,” Tengku Zafrul said in a statement to Bernama. Malaysia is advocating for reform discussions to take place at the 14th WTO Ministerial Conference (MC14) in Cameroon next year. According to Tengku Zafrul, strengthening the WTO’s framework is essential to ensuring the organisation continues to support all member countries. The minister also underlined the importance of maintaining the principle of multilateralism in global trade rather than resorting to unilateralism, as this ensures a more balanced and inclusive trading system. “We have appointed a WTO ambassador who is actively participating in efforts to keep the organisation relevant and focused on its core mission of supporting countries equitably,” Tengku Zafrul added. Malaysia’s stance highlights its commitment to upholding a rules-based international trading system and advocating for greater inclusivity, particularly for developing economies. -Bernama

The Securities Commission Malaysia (SC) has taken a significant step towards enhancing cross-border enforcement by signing the International Organization of Securities Commissions’ (IOSCO) Enhanced Multilateral Memorandum of Understanding (EMMoU). The formal signing took place during the IOSCO Annual Meeting held in Doha from 12 to 14 May 2025. The EMMoU, aimed at fostering greater cross-border cooperation and enforcement among securities regulators, enables its signatories to leverage new forms of assistance to boost investigation and enforcement efficiency. Malaysia’s SC, alongside Kenya’s Capital Markets Authority (CMA) and Spain’s Comisión Nacional del Mercado de Valores (CNMV), joined the ranks of 27 other IOSCO members already committed to the enhanced framework. The original IOSCO Multilateral Memorandum of Understanding (MMoU), signed by the SC in May 2007, established a robust framework for international information sharing among securities and derivatives regulators. Since then, the SC has actively collaborated with other signatories under the MMoU framework to facilitate cross-border enforcement. In 2022, the SC further demonstrated its commitment to international cooperation by signing the IOSCO Asia Pacific Regional Committee’s (APRC) Multilateral Memorandum of Understanding for Supervisory Cooperation (Supervisory MMoU). This agreement established a structured framework for supervisory collaboration among capital market regulators in the region. The newly signed EMMoU introduces expanded powers, abbreviated as “ACFIT.” These powers include the authority to obtain (A) audit papers, (C) compel attendance for testimony, (F) freeze assets, and acquire (I) internet service provider and (T) telephone records. Dato’ Mohammad Faiz Azmi, Chairman of the SC, signed the EMMoU during the final day of the IOSCO Annual Meeting, emphasising the importance of this commitment. “This EMMoU significantly underscores our dedication to maintaining market integrity and protecting investor interests. It also highlights our steadfast support for international enforcement cooperation, which is particularly crucial as the increasingly interconnected global financial markets demand collective efforts to address issues such as securities fraud,” he stated. The IOSCO Annual Meeting, a pivotal forum for discussing key global securities and futures market issues, provides an essential platform for knowledge exchange, regulatory coordination, and the implementation of global standards. By signing the EMMoU, the SC reaffirms its commitment to maintaining financial market integrity through strengthened international collaboration.