Army procurement probe: 17 company directors remanded
KUALA LUMPUR: Seventeen company directors have been remanded for alleged involvement in a cartel linked to procurement tenders for the Army. The directors were remanded until Saturday (Jan 10) by Magistrate Ezrene Zakariah following an application by the Malaysian Anti-Corruption Commission (MACC) at the Putrajaya Magistrate’s Court on Tuesday (Jan 6). Initial investigations revealed that between 2023 and 2025, there were 158 military procurement projects valued at more than RM500,000 each, while another 4,521 projects were worth below RM500,000. Sources said that checks on these projects found that several companies repeatedly secured high-value contracts, leading to suspicions. The MACC also received a complaint and recorded a statement from activist Badrul Hisham Shaharin, also known as Chegubard, at its headquarters.
Source:The Star
January 06, 2026 15:38 UTC
Nvidia’s US$4 tril stock rally faces more threats than ever
(Jan 6): The world’s most valuable company is on shaky stock market footing as 2026 gets underway. Now, the stock has lost US$460 billion of market value in a matter of months, taking its three-year gain to nearly 1,200%. That said, the demand for AI computing power is so vast that Big Tech companies are still hoovering up Nvidia’s chips even as they deploy their own. As a result, Nvidia’s market share is expected to remain intact for the foreseeable future, according to Bloomberg Intelligence analysts Kunjan Sobhani and Oscar Hernandez Tejada. But it dipped in fiscal 2026 due to higher costs from the ramp-up of its Blackwell series chips.
Source:The Edge Markets
January 06, 2026 15:20 UTC
Pang Ron-Su Yin get off to good start by packing off top Danes
KUALA LUMPUR: Mixed doubles shuttlers Hoo Pang Ron-Cheng Su Yin brought joy to the home fans after pulling off a stunning win over Denmark’s world No. Pang Ron-Su Yin struggled for form in 2025 but showed great fighting spirit and determination to come away with a 20-22, 21-18, 21-17 win in 72 minutes over Christiansen-Boje at Axiata Arena, Bukit Jalil on Tuesday (Jan 6). Pang Ron-Su Yin will take on either world No. Meanwhile, independent pairs Jimmy Wong-Lai Pei Jing and Wong Tien Ci-Lim Chiew Sien both crashed out. Tien Ci-Chiew Sien were forced to retire while trailing 2-14 against China’s Feng Yanzhe-Huang Dongping after Tien Ci picked up an injury.
Source:The Star
January 06, 2026 14:34 UTC
Private docs awaiting practising cert approval can still buy meds
PETALING JAYA: Private medical practitioners who have submitted applications for their 2026 Annual Practising Certificate (APC) may place orders for medicines as long as they can provide proof of their submission, says the Pharmaceutical Association of Malaysia (Phama). The association, which represents 41 pharmaceutical multinational corporations (MNCs), said this was made possible through the intervention of the Health Ministry. It was earlier reported that drug companies refused to sell medicines to medical practitioners without a valid APC. Delays in processing APCs by the MMC left thousands of doctors without a valid practising licence, exposing them to legal issues. The MMC apologised for the delay, citing a surge in applications towards the end of last year.
Source:The Star
January 06, 2026 14:26 UTC
SCIB to collaborate on mixed-use development in Bintulu
KUALA LUMPUR: Sarawak Consolidated Industries Bhd (SCIB) has agreed to jointly undertake a residential-cum-commercial project in Bintulu, Sarawak. In a statement, the group said its wholly-owned subsidiary SCIB Development Sdn Bhd will collaborate with the registered landowners of a vacant land parcel measuring about 11.1ha in Sungai Sibiau to develop a mixed-use estate. Under the agreement, SCIB Development will act as the project developer and will oversee the planning, approvals and execution ofthe development works. As the project remains at an early planning stage, SCIB said the overall developmentvalue and financial contribution have yet to be determined. “This project allows us to extend our footprint into property development while building on our established engineering and construction capabilities.
Source:The Star
January 06, 2026 14:26 UTC
Anwar to receive Turkiye's Order of the Republic
ANKARA, Turkey: Datuk Seri Anwar Ibrahim will be conferred the Order of the Republic during the Prime Minister's three-day official visit to Turkiye. Malaysian Ambassador to Turkiye Sazali Mustafa Kamal said the award is Turkiye's highest honour conferred on foreign leaders for strengthening Malaysia-Turkiye diplomatic relations. "This award is the highest form of recognition bestowed on a leader who has brought Malaysia and Turkiye closer and strengthened bilateral ties," he said at a press conference in conjunction with the Prime Minister's visit to Turkiye here on Tuesday (Jan 6). Sazali said the award will be presented by Turkish President Recep Tayyip Erdogan on Wednesday (Jan 7). Anwar, who is also Finance Minister, is visiting Turkiye as part of Malaysia's efforts to further strengthen the long-standing bilateral relations between the two countries.
Source:The Star
January 06, 2026 14:17 UTC
'Digital China' the priority for 2026
China will ratchet up resources to deepen reforms related to the market-oriented allocation of data elements and accelerate the cultivation of a unified national data market in 2026, as part of a broader push to unleash the value of data resources and advance the building of a "Digital China", according to the country's top data governance regulator. The conference stressed the need to formulate and implement the "Digital China" development plan, foster an open, shared and secure unified national data market, vigorously promote the deep integration of data-driven technological innovation and industrial innovation, and boost data sector development. China previously unveiled a plan for overall digital development, vowing to make important progress in the construction of a "Digital China" by the end of 2025. By 2035, the nation is expected to be at the global forefront of digital development. Mei Hong, an academician at the Chinese Academy of Sciences, said digital transformation in traditional industries — such as manufacturing, transportation and energy — has become the main battlefield in the development of the digital economy.
Source:The Star
January 06, 2026 13:57 UTC
US oil refiners win, Chinese rivals lose in Trump’s Venezuela strike
The US military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. A smooth transition in Caracas will likely result in a rapid rerouting of Venezuelan oil exports, re-establishing the United States as the major buyer of the country’s volumes. Although the US crude oil mix dramatically changed following the boom in domestic shale oil – a light grade – in the early 2010s, many refineries still require heavy grades to optimise operations. Venezuelan exports collapsed to zero between 2020 and 2022 after Trump imposed direct oil sanctions on the state-owned energy company PDVSA. China accounted for more than half of Venezuela’s crude exports of 768,000 bpd last year, according to data from analytics firm Kpler.
Source:The Star
January 06, 2026 11:50 UTC
Mega Fortris drops plan for Macau plant, centralises playing card production in Malaysia
The new manufacturing line will increase its printing output to 44 million decks annually from 19 million decks, it noted. The new manufacturing line is slated to be installed by the end of the third quarter of 2026 (3Q2026) with operations commencing in 4Q2026. This is possible because its card manufacturing line will use specialised, automated machines that can print, cut, laminate, inspect and package different types of cards. Mega Fortris said it chose to expand its existing plant after facing difficulties finding suitable industrial space in Macau and rising rental costs. By focusing its card manufacturing operations in Malaysia instead, the group expects to save about RM11.2 million in capital spending.
Source:The Edge Markets
January 06, 2026 11:14 UTC
Tennis-Djokovic withdraws from Australian Open warm-up in Adelaide
SYDNEY, Jan 6 (Reuters) - Novak Djokovic has withdrawn from next week's Australian Open warm-up tournament in Adelaide to focus on being ready for the year's first Grand Slam at Melbourne Park. The 24-times major champion, who won the Adelaide International in 2023, made the announcement in a statement on social media. "To all my fans in Adelaide, unfortunately I'm not quite physically ready to compete in the Adelaide International next week," the 38-year-old Serbian said. "My focus is now on my preparation for the Australian Open and I look forward to arriving in Melbourne soon and seeing all the tennis fans in Australia." Djokovic will be bidding for an 11th Australian Open crown and record 25th Grand Slam title at Melbourne Park.
Source:The Star
January 06, 2026 10:57 UTC
Cops bust illegal bitcoin mining in Perlis, seize equipment worth nearly RM1m
KANGAR (Jan 6): Police have seized 259 bitcoin mining machines along with various supporting equipment, with an estimated total value of RM958,000, during separate raids at seven premises in Kangar town and Kuala Perlis. Perlis police chief Datuk Muhammad Abdul Halim said the raids revealed that Tenaga Nasional Berhad (KL:TENAGA) suffered estimated losses of RM15.55 million due to bitcoin mining activities believed conducted using stolen electricity. “The raids were carried out under Ops Cantas Elektrik between 9am and 5.40pm on Dec 31 following public information regarding power supply disruptions caused by excessive energy usage. “Inspections found that all the premises involved had carried out illegal electricity connections without meters to operate bitcoin mining activities, believed to have been running for between three months and a year. The case is being investigated under Section 427 of the Penal Code and Section 37 of the Electricity Supply Act 1990.
Source:The Edge Markets
January 06, 2026 10:49 UTC
Reliance heads for worst day since 2024 on retail sector worries
(Jan 6): Reliance Industries Ltd’s shares tumbled after analysts warned of rising competition in the retail sector, where the Mukesh Ambani-controlled conglomerate is a major player. Shares of the oil-to-telecom major closed 4.5% lower on Tuesday (Jan 6), marking its worst day since June 2024. The selloff also weighed on the nation’s key stock gauges, where Reliance has the second-biggest weighting, causing them to trail regional markets. The selloff erased more than US$10 billion (RM40.53 billion) in market capitalisation for the country’s largest firm by market value. Reliance shares jumped 29% in 2025, beating the benchmark NSE Nifty 50 Index’s 11% gain.
Source:The Edge Markets
January 06, 2026 10:39 UTC
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Toys distributor Semico Capital’s IPO oversubscribed 28 times ahead of ACE Market debut
The toys distributor received applications for 523.69 million shares worth about RM130.92 million from the Malaysian public, according to a bourse filing statement on Tuesday (Jan 6). The Bumiputera public tranche was oversubscribed nearly 20 times, while demand from non-Bumiputera investors exceeded available shares by close to 37 times. “We are heartened by the positive response to our IPO, which reflects investors’ confidence in Semico Capital’s business fundamentals and growth potential. Semico distributes toys from 68 brands, including Pop Mart — renowned for its Labubu plushies — and holds authorised distributorships for ACE Amusement, UNIS and Jakar. The group ventured into video game arcade and amusement machine trading two decades ago and currently operates a family entertainment centre at The Mines.
Source:The Edge Markets
January 06, 2026 10:29 UTC
Waste management firm 5E Resources gets Bursa Malaysia nod for ACE Market listing
KUALA LUMPUR (Jan 6): Waste management services provider 5E Resources Holdings Bhd has received approval from Bursa Malaysia for its listing on the ACE Market. "As we progress towards our ACE Market listing, we remain focused on expanding our operational capabilities, strengthening our recovery and recycling technologies, and supporting Malaysia’s transition towards a circular economy,” 5E Resources chief executive officer Lim Te Hua said in a statement. Through its subsidiaries, 5E Resources provides scheduled waste management services, including testing, collection, recovery and recycling. The group also trades in chemicals and recovered products, and manages 34 of the 77 regulated scheduled waste categories. The new scheduled waste management facility in Batang Padang, Perak, is estimated to cost RM110.66 million, including machinery and equipment.
Source:The Edge Markets
January 06, 2026 09:43 UTC
Zuraida maintains Lim rejected allocation for Bestari Jaya PPR, tells court 'I do not lie'
She described her statements in a MalaysiaNow report as a "narration of my struggle to uplift justice for the residents of Bestari Jaya estate". As I had said, the submission for the Lembah Bestari PPR had been approved by the previous (BN) government and this was verified by my predecessor Datuk Seri Noh Omar. Lim is suing Zuraida and the operator of the MalaysiaNow news portal, MNow Sdn Bhd, over claims she made during last year's Kuala Kubu Bharu by-election, that Lim did not approve the construction of the Bestari Jaya PPR. Zuraida agreed with Sankara that the Pakatan Harapan government had required all previous projects to be re-evaluated, including the Bestari Jaya PPR project, shifting from direct negotiation to open tender. “I went back to Berjaya (group) to inform them that the direct negotiation was off, and they agreed to allocate the estate land for the PPR project.
Source:The Edge Markets
January 06, 2026 09:17 UTC