KUALA LUMPUR (July 4): The unprecedented blockage of the Strait of Hormuz, which cut off roughly 20% of the world’s oil supply, influenced much of the first half of 2026, stoking fears of a prolonged global energy crisis that would weigh on corporate earnings and global economic growth.

Investors, however, were quick to look past geopolitical risks. Following a sharp sell-off in March, global equities staged a strong rebound in April as markets shifted their focus back to corporate fundamentals and long-term structural growth themes such as artificial intelligence (AI) and the mega initial public offering of SpaceX in June.

Buoyed by continued optimism surrounding AI and data centre investments, the Bursa Malaysia Technology Index climbed 34.2% in the first half of this year, significantly outperforming the country’s benchmark FBM KLCI, which slipped during that period, while the broader FBM Emas Index edged up 0.7%.

Among The Edge’s stock picks, Kelington Group Bhd (KL:KGB) emerged as the best performer, delivering a total return of 54.8% in the first half, aided by the global technology rally.

Meanwhile, among the stock recommendations made by fund managers and heads of research earlier this year, Malacca Securities head of research Loui Low’s pick — Insights Analytics Bhd (KL:IAB) — led the pack with a total return of 38.2% during the same period.

Read a review of the stock picks in Cover 1 in this week’s issue of The Edge Malaysia.

Meanwhile, Cover 2 takes a closer look at the shareholder tussle at Talam Transform Bhd (KL:TALAMT).

On July 10, 12.62% shareholders of Talam Transform — Andy Ang Lam Poah, M&A Nominee (Tempatan) Sdn Bhd, Loo Leong Fatt and Loo Foong Luan — will be looking to oust the existing board of the property developer at an extraordinary general meeting.

Opposing the trio are Puan Sri Thong Nyok Choo, Talam Transform’s non-independent and non-executive director, who has about 22% in the company or a total 40% if friendly parties’ interest were included.

Initial plans for Ang and his associates to buy out Thong in Talam Transform fell through as bankers were hesitant to fund the acquisition while it still owed RM263.54 million to construction giant IJM Corp Bhd (KL:IJM). Hence Ang who acquired into Talam Transform pending a due diligence is left neither here nor there with his 12.2% in the company.      

The endgame for both parties in the feud remains uncertain as Thong deems Ang’s asking price to buy him out at 35 sen per share too high, considering he and his faction came in at 10.82 sen a share via a private placement.

However, Ang says that Thong in wanting to exit had pegged a 35 sen per share price tag on her shares, setting the benchmark and he was merely taking the cue from her.

Last Friday, Talam Transform closed at 7.5 sen a share, which raises the question of what Ang will do to exit Talam Transform without incurring a loss. As for Thong, she is unlikely to buy out Ang and his associates as it would trigger a general offer, crossing the 33.3% threshold.

While the feud is raging, Talam Transform has suffered six straight years of losses, and looks likely to sell more of its land bank to sustain.

Both parties say there is value in Talam Transform but which party will be the one who unlocks the value?

Read more in the weekly.

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