KUALA LUMPUR: Armed forces chief General Datuk Malek Razak Sulaiman has vowed a total clean-up of the military following recent controversies, saying governance and integrity failures must be addressed decisively to restore public confidence. "We acknowledge and understand the public's concerns, and what has occurred to the armed forces over the past month serves as a wake-up call to the management of the armed forces," he said at a press conference today after clocking in as the 24th Armed Forces Chief. He said the armed forces would not compromise on any breaches involving governance, human resource management, development planning, financial management or procurement, both within the armed forces and the Defence Ministry. Also present were Royal Malaysian Navy chief Admiral Tan Sri Zulhelmy Ithnain, Army chief General Datuk Azhan Md Othman and Royal Malaysian Air Force chief General Datuk Seri Muhamad Norazlan Aris. "The armed forces are a strong organisation, so when weaknesses occur, we must rise again.

Actress Emma Maembong clarifies that her presence at a Sibu nightclub was solely to support her friend, DJ Kidd, during his performance. Pic from IGKUALA LUMPUR: Popular actress Emma Maembong has clarified that her recent visit to a nightclub in Sibu, Sarawak, was not for a night of partying. Instead, Emma explained that she was there to support her close friend, DJ Kidd, who had been booked to perform at the venue. I was in Sibu for a music video shoot, and it just so happened that DJ Kidd was spinning there, so I wanted to go and watch him. Aware that many patrons were recording her presence, Emma maintained that she made no attempt to stop them as she had nothing to hide.

KUALA LUMPUR (Feb 4): Payments Network Malaysia Sdn Bhd, the operator of DuitNow QR payment system, has formally appointed Praveen Rajan as its chief executive officer, effective Feb 1. He succeeds Farhan Ahmad, who stepped down on Jan 31, the national payments infrastructure company also known as PayNet said in a statement. Praveen joined PayNet as CEO-designate on Dec 1, 2025, as part of a planned leadership transition. Prior to joining PayNet, he was the chief consumer business officer at CelcomDigi Bhd (KL:CDB). Apart from the central bank, 11 Malaysian financial institutions are shareholders in PayNet, including the country’s largest bank by assets Malayan Banking Bhd (KL:MAYBANK).

(Feb 4): Hedge funds are reviving bets against the yen, positioning for renewed weakness as Japan heads into a pivotal election this weekend. Amid a pickup in call option demand, the premium to hedge dollar-yen’s downside compared to upside over the next month, has fallen to its lowest in nearly two weeks. Takaichi’s latest remarks have added to the renewed bullishness in dollar-yen. Asset managers, often referred to as real money funds, by contrast are taking a more cautious stance amid recent volatility as they wait for greater clarity on where the pair is next headed. “Real money is largely sidelined, using options for protection rather than committing to a clear USD/JPY direction,” said Ivan Stamenovic, head of Asia-Pacific G-10 currency trading at Bank of America Corp.

The parents of an outstanding Form Two student who died after being flung into a 10m-deep manhole are seeking responsibility from a construction contractor. SOCMED PICTAMPIN: The parents of an outstanding Form Two student who died after being flung into a 10m-deep manhole are seeking responsibility from a construction contractor. The siblings were heading to a friend's house in Kuala Ina after having dinner in Tampin, according to China Press. Lye was an exceptional student at SMJK Pulau Sebang, serving as a prefect and member of the Chinese orchestra. The school principal and deputy principal also attended to pay their respects.

Sharing the Valencia facility could be a win for both parties, allowing Geely to avoid paying European tariffs on imports of made-in-China EVs and boosting output at a plant Ford has underutilised. Since 2024, it’s only made the Ford Kuga sport utility vehicle, and production likely dropped below 100,000 units last year, according to French consultancy Inovev. A representative of Ford said it had “discussions with lots of companies all the time on a variety of topics. In addition to Geely, Ford has held discussions with Chinese automakers including BYD Co and Xiaomi Corp about collaboration, the Financial Times reported recently. The talks between Ford and Geely focused on manufacturing and didn’t include the potential for shared technologies such as automated driving, according to the person familiar with the conversations.

SYDNEY (Feb 4): Australia's corporate regulator has warned the nation's A$4.5 trillion (US$3.16 trillion or RM12.4 trillion) pension fund industry it needs to invest more in systems and technology to better prepare for the future and avoid becoming troubled like stock market operator ASX. Australian Securities and Investments Commission (Asic) commissioner Simone Constant said the pension fund industry, known locally as superannuation, was on track to be worth A$6 trillion by 2030. At that size, she said, it would be larger than Australia's banking system and is an increasingly important part of the country's financial system. "Our recent thematic review of platform trustees identified examples of weak practices in the investment governance of investment options offered on platforms, including investment option onboarding and monitoring." Australia's pension fund industry has previously been put on notice to speed up preparations for an estimated 2.5 million people due to retire in the next decade.

(Feb 4): Tankers moving crude from the Middle East to China charged the highest fees in more than two months this week, after tensions over Iran combined with tight vessel supply to drive up prices. Rates surged 62% on Friday, as fears of possible US-led military action against the Islamic Republic intensified. Last week’s speculation about escalating tensions between Iran and the US prompted a rush from charterers to secure vessels ahead of any potential supply disruption, shipbrokers said. On Tuesday, US President Donald Trump said Washington and Tehran are going ahead with talks after an American warplane shot down a drone in the Arabian Sea. Earlier, the US had said Iranian vessels and a drone had approached a US-flagged tanker transiting the Strait of Hormuz.

Some believe the import restriction, to some extent, helps drive investment in Malaysia’s EV manufacturing sector, which in turn supports ecosystem development. In view of the latest restriction, Bermaz will have to consider shelving its plan to bring in Mazda EV models to Malaysia. “The import restriction will ensure that no more cheap EVs flood the local market. “The government therefore needs to continue to protect the local automobile industry as a whole because of the social economic impacts,” says a senior executive. However, the fierce competition is unlikely to abate as the new entrants are now assembling CKD EVs here.

SHAH ALAM (Feb 4): Selangor police have crippled an online scam syndicate offering part-time jobs and investments to victims overseas, following separate raids on three premises in Kajang, Seri Kembangan and Puchong last month. Selangor police chief Datuk Shazeli Kahar said the integrated operation conducted by the Selangor Commercial Crime Investigation Department (CCID), together with several district police headquarters, led to the arrest of 20 individuals, including a Malaysian, aged between 25 and 36. He added that police also seized 42 mobile phones, 20 computers, four mobile WiFi units, two laptops, two modems and a router worth RM85,000. "The syndicate, which has been operating since last December, targeted Australians and Italians with online part-time job offers,” he said. In the third raid, conducted in Bandar Puteri, Puchong, on Jan 28, five foreigners — four men and a woman — aged between 25 and 36 were detained.

(Feb 4): Saudi Arabia will invest around US$2 billion (RM7.85 billion) to build solar power plants in Turkey in the first stage of a broader deal between the countries on renewable-energy production. Saudi companies will initially develop solar projects capable of generating 2,000MW in Turkey’s Sivas and Karaman provinces, followed by 3,000MW of additional wind and solar capacity to be finalised later, according to an intergovernmental agreement signed in Riyadh on Tuesday (Feb 3). The deal includes a 50% localisation rate, which “will make a significant contribution to the electrical equipment and service sectors” in Turkey, the country’s Energy Minister Alparslan Bayraktar wrote on X. Bayraktar added that the projects will use external financing, including from international institutions. Bloomberg reported in June that Saudi utility ACWA Power Co will build the solar plants. Turkey will buy the electricity for 25 years at 2.3415 euro cents per kilowatt-hour from the Sivas project and 1.995 euro cents/KWh from Karaman — a record-low price for renewable power in Turkey, Bayraktar said.

ZURICH (Feb 4): Swiss bank UBS posted on Wednesday a net profit of US$1.2 billion (RM4.71 billion) for the fourth quarter, up 56% year-on-year and ahead of a company-provided consensus forecast of US$919 million. The amount of additional buybacks was subject to further clarity around the future regulatory regime for banking in Switzerland, it said. Swiss authorities have proposed stricter capital rules for the country's remaining big bank since UBS bought ailing Credit Suisse in 2023 in a state-engineered emergency takeover. UBS added US$8.5 billion in net new assets to its global wealth management division during the quarter. Its asset management division brought in US$8 billion in total net new money over the same period.

KUALA LUMPUR (Feb 4): The Investment, Trade and Industry Ministry (Miti) will focus on outcome-based measurement and monitoring under the New Incentive Framework to ensure that investment projects using local content translate into real impact on the domestic economy. According to him, measuring the actual level of local content usage is currently done via a specific framework that combines quantitative and qualitative indicators, including the percentage of local sourcing for raw materials, components, machinery, and services. “Monitoring is carried out at two main stages, during the pre-approval and post-approval phases of investment, with investment projects continuously monitored to assess the progress of the commitments,” he added. For the post-approval stage, the government conducts continuous engagement sessions with investors and local vendors to ensure that the implementation of local content usage genuinely takes place throughout the investment period, he said. Overall, he said the more structured and meticulous new policy approach aims to ensure that local companies and industries benefit from investments.

KUALA LUMPUR (Feb 4): Prime Minister Datuk Seri Anwar Ibrahim said the determination of the Malaysia-Indonesia land border involving Sabah and Kalimantan is not based on compensation, reciprocity or profit-and-loss considerations, as claimed by some parties. Anwar said the core principle in the agreements stipulates that territorial determination is based on the location of the estuaries of Sungai Sinapad and Sungai Sesai along latitude four degrees 20 minutes (4°20’) north. Areas north of latitude 4°20’ north fall under British North Borneo (Sabah), while areas south of the same latitude were under Dutch rule (Indonesia), he said. However, Anwar said joint field measurements later found that the actual estuary of Sungai Sinapad lies north of latitude 4°20’ north, contrary to what was indicated in the original map. “Based on these findings, Malaysia’s position is that all river basins that flow north of latitude 4°20’ north belong to Malaysia,” he said.

(Feb 4): Asian software stocks slid, extending a global selloff as investors fret that rapid advances in artificial intelligence could upend traditional business models. Elsewhere in the region, losses were concentrated in software as Asia’s broader tech sector remains dominated by hardware makers — particularly chipmakers — that have been key beneficiaries of the AI investment boom. Anthropic PBC’s launch of a new tool to help automate some legal work sank a swath of software makers and financial service providers on Tuesday in the US, where AI displacement fears have weighed on the broader market. Elsewhere, losses were concentrated in smaller software names, including Japan’s Rakus Co, which tumbled 14% amid disruption fears. “Pure software in Hong Kong and China remains a relatively small component of market indices compared to the US and Europe,” said Allspring’s Tan.