<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 29): A former senior executive of a corporation will be charged in court on Thursday in connection with the Malaysian Anti-Corruption Commission (MACC) investigation into losses incurred by UiTM Holdings Sdn Bhd, including allegations of abuse of power regarding operational expense payments to several companies totalling about&nbsp;RM42 million.</p></div>

<div class=newsTextDataWrapInner><p>In a statement, the MACC announced that the male suspect&nbsp;in his 50s&nbsp;was arrested at around 1pm&nbsp;on Monday at his residence in the Klang Valley.</p></div>

<div class=newsTextDataWrapInner><p>Preliminary investigations revealed that the suspect allegedly committed the act in 2017 by authorising operational expense payments to several companies in which he is believed to have held an interest.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The&nbsp;arrest follows an investigation conducted by the MACC regarding issues concerning losses suffered by UiTM Holdings in 2023," the statement read.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, MACC chief commissioner Datuk Seri Abd Halim Aman confirmed the arrest when contacted and stated that the case is being investigated under Section 23 of the MACC Act 2009.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/819741" target="_blank">UITM Holdings: PAC recommends stronger financial governance, investment management</a></em></p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


A former senior executive of a corporation will be charged in court on Thursday in connection with the Malaysian Anti-Corruption Commission (MACC) investigation into losses incurred by UiTM Holdings Sdn Bhd, including allegations of abuse of power regarding operational expense payments to several companies totalling about RM42 million.

UITM Holdings losses: Former top executive of a corporation to be charged on Thursday

Here is a brief recap of some business news and corporate announcements that made headlines on Tuesday.

Yinson, Gamuda, SD Guthrie, AEON Credit, UMS Integration, Kelington, Vantris, Supermax, Apollo, VS Industry, Sern Kou

Kim Loong Resources Bhd’s (KL:KMLOONG) second-quarter net profit dropped 5%, weighed down by lower fresh fruit bunch (FFB) production and reduced crude palm oil (CPO) sales volume.

Kim Loong's 2Q profit drops 5% on lower FFB, palm oil sales

The benchmark S&P 500 was flat on Tuesday, as rising government bond yields hurt risk sentiment and offset gains in AI-related stocks driven by optimism about Anthropic's plan to go public.

S&P 500 flat as higher bond yields counter tech optimism

OpenAI's annual recurring revenue is nearing US$70 billion (RM285.4 billion) as enterprise sales more than doubled since July, Axios reported on Tuesday, citing sources familiar with the financials of the start-up.

OpenAI's annual recurring revenue nears US$70b — report

US President Donald Trump will meet on Tuesday with tech executives including Meta CEO Mark Zuckerberg, Google's Sundar Pichai and Anthropic's Dario Amodei to discuss AI, as calls ramp up for more regulation of the fast-developing technology.

Trump to host Anthropic's Amodei, Nvidia's Huang, other AI execs, as fears mount

US job openings fell in August, but layoffs remained low, pointing to a stable labour market.

US job openings fall in August; layoffs remain low

US consumer confidence fell in September to the lowest level since 2014 as pessimism grew about the economy and the labour market.

US consumer confidence plunges to lowest level since 2014

The interim report on the implementation of the Felda Group Strategic Roadmap 2025–2030 was submitted to Prime Minister Datuk Seri Anwar Ibrahim on Sept 25.

Interim report on Felda’s strategic roadmap submitted to PM on Sept 25 

Sern Kou Resources Bud (KL:SERNKOU) said on Tuesday that its will wind down its plywood manufacturing unit due to continuous quarterly loses since the financial year ended June 30, 2024 (FY2024).

Sern Kou to wind down loss-making plywood manufacturing unit 

Careplus Group Bhd (KL:CAREPLS) plans to raise up to RM29.78 million through a rights issue to help fund the ongoing construction of the group's energy vehicle manufacturing hub in Chembong, Negeri Sembilan.

Careplus plans rights issue to raise up to RM30 mil to fund energy vehicle hub

<p>Supermax Corp Bhd (KL:SUPERMX) co-founders Datuk Seri Stanley Thai and wife Datuk Wira Cheryl Tan Bee Geok have resolved the legal wrangle over their company that holds their interests in the glove manufacturer.</p>


Supermax co-founders agree to wind up holding firm, to hold stakes directly  

<p>Gamuda Bhd (KL:GAMUDA) said its consortium has inked an agreement with a US-based technology company for a proposed 680-megawatt renewable energy project in Perak.</p>


Gentari-SD Guthrie-Gamuda consortium to build solar plant in Perak for US tech firm

<p>OVER the past couple of weeks, homegrown accounting firm TGS TW PLT has resigned as external auditor of as many as 18 companies listed on Bursa Malaysia’s Main, ACE and LEAP markets — mostly small-capitalisation and recently listed companies.</p>

<p>Only two — HE Group Bhd (KL:HEGROUP) and Exc...

TGS TW drops 18 Bursa-listed clients as senior auditors depart

<p>AIRASIA Group Bhd (KL:AAGB), which is seeking to raise up to US$1 billion (RM4.08 billion) on the international debt market, has dismissed concerns about its liquidity, with co-founder and adviser Tan Sri Tony Fernandes insisting that the low-cost carrier remains financially resilient.</p>

<p>...

AirAsia needs no bailout, says Fernandes, as fuel shock puts liquidity under scrutiny

<p>A former senior executive of a corporation will be charged in court on Thursday in connection with the Malaysian Anti-Corruption Commission (MACC) investigation into losses incurred by UiTM Holdings Sdn Bhd, including allegations of abuse of power regarding operational expense payments to several companies totalling about&nbsp;RM42 million.</p>


<p>The High Court has granted an interim (temporary) stay sought by businessman Datuk Seri Mahmud Abu Bekir Taib, over an order to pay RM41.8 million in additional assessments and penalty imposed by the Inland Revenue Board (IRB) for the years 2021 to 2024 that had been issued on him in June this year.</p>


High Court grants Mahmud Abu Bekir stay from paying RM41.8m additional taxes, penalty

<p>Gamuda Bhd (KL:GAMUDA) closed its financial year ended July 31, 2026 (FY2026) with a net profit topping RM1 billion for the second straight year, as its construction order book reached a record high.</p>


Gamuda's annual net profit tops RM1b for second straight year, order book hits RM61b

<p>The Federal Court on Tuesday granted AirAsia Bhd leave to appeal an appellate&nbsp;court ruling that awarded RM147,400 in compensation to a former co-pilot retrenched during the Covid-19 pandemic in 2020.</p>


Apex court grants AirAsia leave to appeal against RM147,400 payout to ex-co-pilot

<h2>Notable filings</h2>

<p>During the week of Sept 7 to 11, notable changes in shareholding at Bursa Malaysia-listed companies included those at IT company <strong>Cuscapi Bhd</strong> (KL:CUSCAPI), where Datin Seri Lee Lan Moi and Jessie Lim Me Xian ceased to be substantial shareholders.</p>
...

Insider Moves: Cuscapi Bhd, Zetrix AI Bhd, Excel Force MSC Bhd, Formosa Prosonic Industries Bhd, MyMBN Bhd, RHB Bank Bhd, Gamuda Bhd

<p>UMS Integration Ltd (KL:UMSINT) is seeking to raise up to RM450 million through a placement representing 5.63% of its enlarged share capital, to fund projects in Penang, Malaysia, as well as expansion in Vietnam and Singapore.</p>


UMS Integration seeks to raise RM450m via placement for Penang, Vietnam and Singapore expansion

<p>Vantris Energy Bhd (KL:VANTNRG) remained in the black for a fourth consecutive quarter, helped by lower foreign exchange losses and finance costs following the completion of its restructuring exercise, as well as the absence of a favourable insurance claim recorded a year earlier.</p>


Vantris Energy stays in the black in 2Q on lower forex losses, finance costs

<p>The planned National Ageing White Paper in 2027 must translate Malaysia’s National Ageing Blueprint 2025-2045 into coordinated and measurable action, according to Prime Minister&nbsp;Datuk Seri Anwar Ibrahim.&nbsp;</p>


Ageing White Paper must turn blueprint into measurable action — PM

<p>NWE Resources Group Bhd began taking orders from investors for the consumer product company’s ACE Market listing at 20 sen per share.</p>


NWE Resources begins taking applications for ACE Market IPO at 20 sen per share

<p>The High Court on Tuesday has granted a stay of execution on a RM367 million penalty that had been imposed on four major feedmill companies by the Malaysia Competition Commission (MyCC) in 2023 and upheld by the Competition Appeal Tribunal (CAT) this year.</p>


Four feedmillers obtain stay over RM367 mil penalty imposed by MyCC

<p>KUALA LUMPUR (Sept 29): Anuar Fariz Fadzil will be ending his tenure as CEO of Malaysia Digital Economy Corporation (MDEC) once his contract ends on Oct 2.</p>


Anuar Fariz to step down as MDEC CEO after contract ends

<p>LNG Canada, a massive liquefied natural gas project backed by Malaysia’s PETRONAS, will be expanded to double its capacity amid rising global demand.</p>


LNG Canada partners, including PETRONAS, agree to expansion project

<p>KUALA LUMPUR (Sept 29): theedgemalaysia.com highlighted two stocks with positive momentum and three stocks with negative momentum at Bursa Malaysia's afternoon close on Tuesday.</p>


Stocks with momentum on Sept 29, 2026: Cabnet, Express Powerr, Southern Cable Group, Verdant Solar, JAKS Resources

<p>VS Industry Bhd (KL:VS) posted its first full-year loss since it was listed in 1998, dragged down by lower orders placed by key customers amid weak global consumer sentiment.</p>


VS Industry records first full year loss on lower orders

<p>KUALA LUMPUR (Sept 29): Shenzhen HFC Co Ltd, which operates an advanced thermal and shielding materials manufacturing facility in Malaysia in partnership with Main Market-listed JF Technology Bhd (KL:JFTECH), saw its shares surge more than eightfold in their Shenzhen Stock Exchange debut.</p>


JF Technology partner Shenzhen HFC surges more than eightfold on debut

<h3><span style="color:#d35400;">Oil and gas</span></h3>

<p><span style="color:#27ae60;"><strong>OVERWEIGHT</strong></span></p>

<p><strong>HONG LEONG INVESTMENT BANK RESEARCH (SEPT 14): </strong>Brent has returned above US$100 per barrel as risks rise across Hormuz, Bab el-Mandeb and Saudi’s E...