(Jan 22): Beazley on Thursday rejected a 7.67-billion-pound (US$10.3 billion) takeover offer from Zurich Insurance as materially undervaluing the UK speciality insurer, adding it was lower than another proposal the group turned down last year. Zurich, Europe's second-largest insurer by market value, declined to comment. At that price, a deal would value Beazley's equity at about 8.4 billion pounds, the company said. Beazley said it had received three proposals from Zurich that month and engaged with it "appropriately," including giving Zurich some limited due diligence information in good faith. Zurich is looking to build up its speciality insurance business, and sees Beazley as a good fit given its expertise in cyber, marine, aviation and space, and fine art insurance.

KUALA LUMPUR (Jan 22): Bursa Malaysia said Apex Healthcare Bhd (KL:AHEALTH) will officially be delisted on Jan 27 following the completion of Pharmora Investment Holdings Pte Ltd’s takeover and privatisation of the pharmaceutical group. The exchange said Apex Healthcare will be removed from the official list of Bursa Malaysia Securities Bhd effective 9am on Tuesday. Pharmora’s successful voluntary takeover offer, which values Apex Healthcare at RM1.91 billion, closed on Jan 5 with valid acceptances amounting to 95.43%. Pharmora partnered with Apex Healthcare’s major shareholder, chairman and CEO Dr Kee Kerk Chin, to undertake the RM2.64-per-share offer launched on Nov 28, 2025. The offer became unconditional on Dec 22 after crossing the 90% mark, and was subsequently extended to Jan 5 to facilitate further acceptances.

KUALA LUMPUR (Jan 22): Economists continue to expect Malaysia’s central bank to maintain its key interest rate throughout this year, unless an excessive demand pressure or tariff shock emerges. Domestic demand remains resilient and is expected to continue anchoring the economy in 2026, while the tariff impact has been mild as AI-related demand bolstered electronics exports, economists noted. Meanwhile, core inflation is expected to remain stable, though on “the absence of excessive demand pressures”, it added, quoting BNM. “Finally, BNM seems comfortable with the inflation trajectory, which should preserve policy space for a rate cut if required,” she added. MBSB Research noted the upcoming Sara cash assistance in February may fuel demand-pull inflation; inflation is expected to stay moderate in 2026 with a slight uptick.

KINABATANGAN (Jan 22): Barisan Nasional (BN) candidate for the Kinabatangan parliamentary by-election, Mohd Kurniawan Naim Moktar, on Thursday launched his manifesto featuring 10 pledges for the constituency. The Kinabatangan parliamentary by-election involves a three-cornered contest between Mohd Kurniawan Naim, Datuk Saddi Abdul Rahman (Warisan), and Goldam Hamid (Independent). Meanwhile, the Lamag state seat will see a straight fight between Mohd Ismail Ayob (BN) and Mazliwati Abdul Malek (Warisan). The twin by-elections are being held following the death of the incumbent, Datuk Seri Bung Moktar Radin, 66, on Dec 5 last year. The Election Commission has set this Saturday (Jan 24) as the polling day for both seats.

PETALING JAYA: AmBank Group, through AmBank Islamic Bhd, has extended RM103.8mil in financing to Founder Energy Sdn Bhd (FESB), a wholly owned subsidiary of Founder Group Limited. The financing will support FESB’s role as the engineering, procurement, construction and commissioning contractor for a 29.99MW ground-mounted solar photovoltaic facility in Bukit Selambau, Kedah, as well as other commercial and industrial projects. The project, with a contract sum of RM132.07mil, was awarded to FESB by one of the project developers backed by both local and multinational corporate shareholders. Scheduled for completion in March 2027, the strategic collaboration reinforces AmBank Group’s commitment to championing sustainable financing and supporting Malaysia’s transition towards a greener, low-carbon economy.

(Jan 22): Elliott Investment Management disclosed that it now owns more of Toyota Industries Corp, as the activist fund pushes for a better deal in the Toyota group’s bid to take the company private. The investor now has a 6.7% stake in Toyota Industries, up from 5% in November, according to a filing on Thursday. That makes Elliott the second-biggest shareholder in Toyota Industries, after Toyota Motor Corp and its affiliates. That translates into more than 20% of issued stock in Toyota Industries. The tender period for Toyota Industries began Jan 15 and will run through Feb 12.

(Jan 22): Australia's financial crime watchdog said on Thursday it had ordered an audit of payment platform Airwallex Pty for suspected anti-money laundering and counter-terrorism financing compliance failures. The Australia-founded fintech has also not defined who its customers are and what reporting may be required, it added. "Our concerns also extend to how well Airwallex identifies and reports on suspicious matters and the effective oversight of these important obligations," said Austrac chief executive officer Brendan Thomas. The payment platform, which is co-headquartered in San Francisco and Singapore and is backed by investors including Tencent, DST Global, and Hillhouse said it will be co-operating fully with Austrac's external auditor review. An external and independent auditor in 2025 had validated Airwallex's programme in Australia, following an Austrac audit of its anti-money laundering and counter-terrorism financing programme in 2024, the company added.

Social Security Organisation (Perkeso) Group chief executive officer Datuk Seri Dr Mohammed Azman Aziz Mohammed said the arrests followed intelligence gathering and investigations under "Ops Stroke", carried out in collaboration with the Malaysian Anti-Corruption Commission (MACC) since Sept 3 last year. Mohammed Azman advised contributors to deal directly with the organisation for any claim applications, which are provided free of charge, to avoid being manipulated by third-party agents or syndicates. "Perkeso constantly monitors for any elements of manipulation or fraud, and contributors are urged to always be honest and trustworthy when submitting claims. He noted that such activities pose a serious threat to the long-term sustainability of the country's social security funds. Mohammed Azman said fund leakages due to fraudulent claims could jeopardise Perkeso's ability to provide essential assistance to contributors who are genuinely eligible and in need of protection.

DAVOS, Switzerland (Jan 22): Nato Secretary Mark Rutte said on Thursday that he and US President Trump had discussed in Davos how the transatlantic alliance should best defend the Arctic against Russia and China. Trump has repeatedly said he wanted to acquire Greenland, citing national security, though on Wednesday he ruled out using force and suggested a deal was in sight to end the dispute over the Danish overseas territory following talks with Rutte. Trump's ambitions have put strain on the Nato alliance. Rutte said he had a "very good discussion" with Trump on how Nato allies can work collectively to ensure Arctic security, including not just Greenland but the seven Nato nations with land in the Arctic. Further talks would build on the Washington meeting last week between the United States and delegations from Denmark and Greenland.

The Malaysian Anti-Corruption Commission (MACC) is aiming to recover about RM10 billion this year from losses caused by misappropriation and leakages through the Multi-Agency Task Force (MATF), said its Chief Commissioner Tan Sri Azam Baki. Pic by Sharifah Mahsinah AbdullahKOTA BARU: The Malaysian Anti-Corruption Commission (MACC) is aiming to recover about RM10 billion this year from losses caused by misappropriation and leakages through the Multi-Agency Task Force (MATF), said its Chief Commissioner Tan Sri Azam Baki. To achieve the target, Azam said all enforcement agencies must intensify efforts to trace and recover funds that had been lost. He added that between 2023 and 2024, a total of RM15.5 billion had already been recovered through MATF operations involving cases of misappropriation and leakages. "MACC understands that enforcement agencies cannot monitor activities at all times, and in some cases, they may lack sufficient assets.

ArcelorMittal “and the Industrial Development Corporation are engaged in advanced discussions to find a sustainable solution based on a non-binding term sheet regarding a potential transaction,” the steelmaker’s local unit, ArcelorMittal South Africa Ltd, or AMSA, said in a stock exchange statement on Thursday. Late last year, discussions between the parties fell apart without a deal after ArcelorMittal rejected an informal proposal of about 8.5 billion South African rand (RM2.11 billion), which would have included the repayment of seven billion rand in debt to the South African unit’s parent. They, and another person involved in the talks, declined to say what ArcelorMittal is being offered. AMSA has now closed the two steel mills and an iron ore mine. The IDC sees its mills as crucial to the nation’s industrial sector.

Public complaints should be viewed as reflections of government effectiveness rather than disruptions to administration, says Perak Menteri Besar Datuk Seri Saarani Mohamad. MANIMARANIPOH: Public complaints should be viewed as reflections of government effectiveness rather than disruptions to administration, says Perak Menteri Besar Datuk Seri Saarani Mohamad. Saarani revealed that more than 19,000 complaints were lodged through the Public Complaint Management System (Sispaa) in 2025. He noted that recurring complaints, particularly regarding local authority services such as road maintenance, cleanliness, and pest control, signal areas requiring systemic improvement. "First, response time to public complaints must be shortened and standardised.

SEREMBAN: A 22-year-old man claimed trial at the Sessions Court here to a charge of raping a 15-year-old girl. He was charged with committing the offence near a petrol station along Jalan Sg Gadut around 11.35pm on Dec 9, 2023. Deputy public prosecutor Nurul Balkis Zunaidi then told the court the prosecution was offering the accused bail of RM15,000 with one surety. He told the court he worked as a helper at an eatery and also had to provide for his three younger siblings. Judge Surita then set bail at RM10,000 with one surety and allowed the other applications by the prosecution.

Did you know that 2016 was the year that Lonely Planet introduced its Best of Asia list? A move worth the effort, as Ipoh ultimately was ranked sixth by Lonely Planet out of the 10 best destinations to visit in Asia in 2016. Melaka’s Jonker Street – an area famed for its heritage buildings, similar to Ipoh – has noticeably fewer trendy cafes in 2016. The Mamee Jonker House, by Melaka’s homegrown food brand Mamee, was only a year old by then. If you have photos of the abovementioned places, or even other tourist attractions in Malaysia, you can share with us via email at star2travel@thestar.com.my.

(Jan 22): Billionaire Sarath Ratanavadi’s Gulf Development Pcl, Thailand’s largest power producer, is deepening its expansion into artificial intelligence (AI) with an agreement with Alphabet Inc’s Google to jointly explore business opportunities. Gulf Edge Co, Gulf Development’s unit, signed a strategic framework agreement with Google to provide AI infrastructure services, according to a Thai exchange filing. The partnership aims to support Gulf Development’s transition into an AI-native technology company, it said. The accord comes as Google carries out plans invest US$1 billion (RM4.04 billion) in Thai data centres. Sarath, who is Gulf Development’s CEO, has a net worth of US$13.2 billion and is the country’s second richest person, according to Bloomberg Billionaires Index.