Malaysia’s economic landscape sees a flurry of activity as several companies make significant business strides. MN Holdings Bhd, via its subsidiary Mutu Nusantara Sdn Bhd, has secured a RM98 million contract for high voltage horizontal directional drilling and cable bridge works intended for a data center, while the Sabah Electricity Sdn Bhd’s (SESB) CEO confirmed that Tenaga Nasional Berhad remains its largest shareholder.

AmanahRaya REIT’s Sale and Ekovest Bhd’s Stock Market Activity

AmanahRaya Real Estate Investment Trust (REIT) has made a noteworthy sale of the Holiday Villa Beach Resort and Spa Langkawi to Plenitude Bhd for RM145 million. On another note, Ekovest Bhd and Iskandar Waterfront City (IWCity), both linked to businessman Tan Sri Lim Kang Hoo, saw significant activity on the stock market.

Dayang, SAG, Ibraco, and Pharmaniaga’s Business Developments

Dayang Enterprise Holdings Bhd has won a contract from Petronas Carigali for rectification works on the Sarawak Oil Asset. Meanwhile, SAG, formerly known as K-Star Sports, has proposed a RM68 million capital reduction to offset accumulated losses. Ibraco Bhd, in partnership with units of China Railway Group, is set to begin infrastructure works for the Kuching Urban Transportation System. Pharmaniaga Bhd’s shares witnessed a rise after the announcement of a seven-year concession agreement with the Ministry of Health for logistics services.

Changes in Leadership at MISC Bhd and RHB Bank

In leadership transitions, MISC Bhd has appointed Afendy Mohamed Ali as its new CFO. RHB Bank, on the other hand, has introduced Datuk Fad’l Mohamed as the new managing director of group wholesale banking, marking an important shift in the bank’s management.

In parallel, a discernible shift is being noticed in Asian business circles, especially in second and third-generation family businesses. Emphasizing sustainable and environmentally-conscious investments, these businesses are charting a different path from their profit-focused predecessors. This trend is exemplified by Malaysian millennial business heir Abe Lim, who diverged from her father’s conventional profit-centric business model to start ventures focused on environmental impact. This shift towards sustainable investments aligns financial returns with social and environmental goals, reshaping the future of Asian businesses.