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Berjaya Corp appoints Levin Tan as executive director
KUALA LUMPUR (Feb 27): Conglomerate Berjaya Corp Bhd (BCorp) (KL:BJCORP), whose largest shareholder is its founder and adviser Tan Sri Vincent Tan Chee Yioun with a 26.32% stake, said on Friday it has appointed Levin Tan Eng Kien as executive director, effective immediately. Levin, 42, has more than 18 years of experience in investment banking and private equity across Southeast and Central Asia. He currently sits on the board of Berjaya Group Bhd and STM Lottery Sdn Bhd, and holds directorships in several private companies within the Berjaya group. His other daughter, Chryseis Tan, also sits on the board. For the financial year ended June 30, 2025, women made up 44.2% of BCorp’s workforce, with 50.08% of management roles held by women, the group said.
Source:The Edge Markets
February 27, 2026 11:45 UTC
S P Setia exceeds target with RM5.11 bil sales in 2025, but profit falls
KUALA LUMPUR (Feb 27): Property developer S P Setia Bhd (KL:SPSETIA) registered total sales of RM5.11 billion in 2025, an increase of 2% compared to RM5.02 billion in the previous year and exceeding its target of RM4.8 billion. S P Setia said the stronger quarterly performance was driven by higher contributions from its property development segment, particularly in the central and southern regions, as well as strategic land transactions and cost efficiencies from disciplined cost management. “While we remain mindful of prevailing market challenges, the group’s fundamentals remain sound,” said S P Setia president and chief executive officer Datuk Zaini Yusoff. Total borrowings stood at RM7.92 billion as at end-December 2025, compared with RM8.58 billion a year earlier. “Anchored by its long-term vision, S P Setia will continue to accelerate catalytic township developments and eco-industrial parks, strengthening high-impact strategic partnerships, and optimising value creation across its key growth corridors,” the group added.
Source:The Edge Markets
February 27, 2026 11:35 UTC
New World Development posts 1H loss as woes persist
(Feb 27): New World Development Co posted a loss in the first half (1H) as Hong Kong’s property downturn continued to weigh on the distressed developer. The company lost HK$3.73 billion (RM1.85 billion) in the six months ended Dec 31, according to a filing to the Hong Kong stock exchange on Friday. That narrowed from a HK$6.6 billion loss a year earlier. Weakness in the commercial real estate market in Hong Kong and mainland China is hurting rental income and suppressing values for potential asset disposals. Still, a rebounding residential market in Hong Kong is set to alleviate some pressure for New World.
Source:The Edge Markets
February 27, 2026 10:25 UTC
Gas market could be fully liberalised by 2028, says PETRONAS
KUALA LUMPUR (Feb 27): Petroliam Nasional Bhd (PETRONAS) is preparing for full Peninsular Malaysia gas market liberalisation in 2028, its top officials said, which could see market pricing for gas sold in the domestic market across commercial, industrial and power sectors. Now, what is needed to spur this importation of energy will be the full market liberalisation, which you can expect by 2028 as per the latest projection that we hear from the government. PETRONAS sold about 2,171 million standard cubic feet per day of natural gas in the domestic market last year. As demand rises, PETRONAS has been importing more and more gas from overseas at market prices. The bulk of domestic supply goes to the power sector, which enjoys a price cap on a certain portion of gas supply up until 2027.
Source:The Edge Markets
February 27, 2026 10:20 UTC
![Flood victims in Sabah rise to 6,655 [WATCH]](https://www.newssummedup.com/images/no_photo.png)
Flood victims in Sabah rise to 6,655 [WATCH]
The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. – Bernama picTENOM: The number of flood victims across four districts in Sabah has risen to 6,655, up from 5,532 earlier in the morning. As of 4pm, the Sabah State Disaster Command Centre reported that evacuee numbers in Beaufort, Membakut and Tenom were continuing to climb. Tenom recorded the highest number of evacuees at 4,345, followed by Beaufort with 1,529 and Membakut with 441. The number of victims in Sipitang remained at 340, while Sook has closed all its relief centres.
Source:New Strait Times
February 27, 2026 10:17 UTC
Russia's closer ties with the Gulf deliver an Arabic-speaking tourism boom
North of the city, another group of Gulf tourists crowd into a hot air balloon to drift over a vast snowy landscape. Four years into Russia's war in Ukraine, Moscow's pivot away from the West and its quest to draw nearer to other parts of the world has produced an Arabic-speaking tourism boom. There are more direct flights between Moscow and key Gulf capitals, new visa-free regimes and closer diplomatic ties due to the roles of Qatar, the UAE and Saudi Arabia in brokering prisoner exchanges or the handover of children to Ukraine. "Virtually all Arab countries have at least doubled their numbers, said Alexander Musikhin, general director of the Intourist tour operator. Western sanctions mean Visa and Mastercard do not work in Russia, "so it has to be in cash", UAE tourist Rashan Godani said.
Source:The Edge Markets
February 27, 2026 09:55 UTC
Trump and Mamdani meet for second time, discuss housing and ICE detentions
WASHINGTON (Feb 26): New York City Mayor Zohran Mamdani said he had a productive meeting with US President Donald Trump at the White House on Thursday, discussing issues including housing and student detentions by federal immigration authorities. Mamdani posted a photo with Trump on social media. I'm looking forward to building more housing in New York City," Mamdani wrote. A former real estate developer, Trump had brightened at Mamdani's call for more housing in New York. Mamdani has criticized Trump's hard-line immigration crackdown, especially his use of ICE agents and deportation attempts, along with the president's policies towards Israel's war in Gaza.
Source:The Edge Markets
February 27, 2026 09:45 UTC
Panama officials search CK Hutchison's subsidiary office, source says
The Hong Kong conglomerate had also acted with "arrogance" and without transparency, he said. Everything those people produce goes through the canal ... All the gas that reaches them goes through the Panama Canal. CK Hutchison did not respond to a request for comment regarding the search or Mulino's comments. Panama's top court recently declared unconstitutional CK Hutchison's contracts to operate port terminals at the entrance to the Panama Canal, leading the government to annul the deals. CK Hutchison has said it sees the decision as unlawful and is considering legal action.
Source:The Edge Markets
February 27, 2026 09:35 UTC
Hibiscus keeps FY2026 volume target as softer prices weigh on profits, declares two sen dividend
KUALA LUMPUR (Feb 27): Hibiscus Petroleum Bhd (KL:HIBISCS) reported on Friday a 15% decline in its latest quarter earnings as higher operating and administrative costs offset the small gain in sales volume amid softer realised oil and gas prices. Revenue fell 16.6% to RM544.49 million from RM653.18 million previously, mainly due to lower average realised prices for oil, condensate and gas. On a quarter-on-quarter basis, however, Hibiscus net profit more than 250% from RM20.1 million, as revenue jumped 25.7% q-o-q from RM433.06 million on higher sales volume, although partly offset by the impact of the weakening US dollar. The group declared a second interim single-tier dividend of two sen per ordinary share, payable on April 24, bringing total dividends declared to date for FY2026 to four sen per share. It has set a minimum total dividend target of eight sen per share for FY2026 if average oil prices range between US$65 (RM252.91) and US$75 per barrel, and 10 sen per share if oil prices exceed US$75 per barrel.
Source:The Edge Markets
February 27, 2026 09:30 UTC
RHB lifts dividend guidance for FY2026, rules out capital management exercise
Group managing director and group chief executive officer Datuk Mohd Rashid Mohamad said the bank has lifted its dividend payout ratio guidance from the previous 30%-50% band to a higher range of 50%-60%. “I'm pleased to share that we have moved our guidance [for dividend payout ratio] now to 50% to 60%," he said in a press conference following the release of the bank's financial results on Friday. "The 65% dividend payout this year is also at the back of our good result for 2025,” he added, noting that the bancassurance partnerships helped support a higher payout for last year. On FY2026 capital plans, Mohd Rashid said “there’s no capital management plan as yet for now”, noting that the bank’s capital position remains sufficiently strong. RHB’s common equity Tier 1 (CET1) capital ratio strengthened to 15.2% post-dividend, a level analysts consider robust.
Source:The Edge Markets
February 27, 2026 08:55 UTC
Europe policymakers set for make or break decisions on industrial heat
Chemical plants, steel mills, car assembly lines, food processors and electronics production facilities all yield different outputs, but share a critical input they can't do without: industrial heat. To help provide greater regulatory certainty and attempt to drive energy costs lower, Europe's policy makers are set to release new measures this spring aimed at rapidly scaling up electric industrial heat technologies to serve the needs of businesses without fossil fuels. In the run-up to the much-anticipated 2026 EU Electrification Action Plan, several major European think tanks are weighing in with suggestions on the best ways to electrify industrial heat and help businesses return to growth. One set of proposals that features input from the Fraunhofer Institute - which specialises in applied research for industry - focused mainly on the potential for electrifying low and medium temperature industrial process heat. Accomplishing all of those goals on an accelerated time frame across multiple countries will be one of the toughest challenges ever faced by European policymakers and businesses.
Source:The Edge Markets
February 27, 2026 08:50 UTC
Bumi Armada’s FY2025 net profit falls 31% on lower FPSO contributions
KUALA LUMPUR (Feb 27): Bumi Armada Bhd’s (KL:ARMADA) financial year ended Dec 31, 2025 (FY2025) net profit fell 31% to RM439.05 million, down from RM634 million in FY2024, mainly due to lower contributions from the Armada Kraken and Armada Olombendo FPSOs. Revenue dropped to RM1.59 billion from RM2.3 billion. Finance costs for the year fell by RM66.7 million, reflecting ongoing deleveraging and lower interest rates. Total liabilities fell 35% to RM2.89 billion, mainly from the foreign exchange impact, repayment of customer advances, and borrowings. CEO Gary Christenson said the stronger financial position allows Bumi Armada to bid for new projects.
Source:The Edge Markets
February 27, 2026 08:40 UTC
Gold broadly steady as lower Treasury yields balances out moderation in safe-haven bids
BENGALURU (Feb 27): Gold was broadly steady on Friday as a drop in US Treasury yields eased the opportunity cost of holding bullion, while muted safe-haven demand kept prices in check as investors assess US-Iran negotiations. Spot gold edged 0.1% lower to US$5,180.09 per ounce by 0752 GMT. Gold was set for its seventh straight month of gains, rising more than 6% in February, a month in which renewed US tariff uncertainty and US-Iran tensions boosted its safe-haven appeal. Spot silver rose 1.9% to US$90.10 per ounce, and was headed for a 6.5% gain on the month. Spot platinum climbed 5.5% to US$2,398.12 per ounce, a four-week high, while palladium gained 2.8% to US$1,834.52.
Source:The Edge Markets
February 27, 2026 08:40 UTC
Cabinet has discussed proposal for RCI over MACC issues, official statement to follow — PM
KAJANG (Feb 27): Prime Minister Datuk Seri Anwar Ibrahim has confirmed that the proposal to establish a Royal Commission of Inquiry (RCI) over issues involving the Malaysian Anti-Corruption Commission (MACC) was discussed at Friday’s Cabinet meeting. He said discussions proceeded smoothly and that an official statement detailing the matter would be issued soon. “We discussed it earlier. A statement will follow,” he told reporters after Friday prayers at Masjid Pekan Kajang here. The ‘corporate mafia’ allegations revolve around claims that senior MACC officials orchestrated a campaign of intimidation, pressuring executives and shareholders of publicly listed companies to resign or sell their shares at steep discounts to a network of connected businessmen.
Source:The Edge Markets
February 27, 2026 08:30 UTC
Gnanaraja maintains RM19 mil was a 'friendly loan' from Zarul Ahmad despite cheating charges
KUALA LUMPUR (Feb 27): Datuk Seri G Gnanaraja, the key witness in the Penang undersea tunnel trial, has maintained that the RM19 million which he obtained from Consortium Zenith BUCG Sdn Bhd (CZBUCG) and its director Datuk Zarul Ahmad Mohd Zulkifli was a “friendly loan”, despite him being charged for cheating Zarul Ahmad in 2019. The defence in Lim’s trial was testing Gnanaraja’s credibility as a witness when Ramkarpal asserted to the businessman that as a result of the allegations of cheating by Zarul Ahmad, Gnanaraja was considered a fraudster and could not be trusted. In response to questions from Ramkarpal, Gnanaraja also admitted that he had received a letter of demand from Zarul Ahmad’s solicitors from Messrs Shahrul Hamidi and Noh sometime in July 2017. However, when Lim’s defence counsel asserted that the TIC proves that Gnanaraja is a fraudster, Gnanaraja denied the allegation. Lim is on trial for using his position as the then-Penang CM to solicit a 10% cut in the RM6.3 billion undersea tunnel project’s profits from Zarul Ahmad, in return for aiding Zarul Ahmad’s company to secure the project.
Source:The Edge Markets
February 27, 2026 08:25 UTC