<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on January 1, 2023 - January 7, 2023</span></p></div><div class="ceonothumb pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://myassets.theedgemalaysia.com/pics/2026/Phileo-Story-Epilogue_261019_175639-1_20261023183510_kuemqc.jpg"><img alt="" src="https://myassets.theedgemalaysia.com/pics/2026/Phileo-Story-Epilogue_261019_175639-1_20261023183510_kuemqc.jpg" /></a></div>

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The Phileo Story: A Triumph of the Spirit

The Malaysian billionaire families behind Maxis Bhd (KL:MAXIS) and U Mobile Sdn Bhd are reviving plans to combine the companies in a deal that could create the country’s biggest wireless operator by market value, people with knowledge of the matter said.

Malaysian billionaires said to revive plan to create nation’s biggest mobile operator

Malaysia has reaffirmed its commitment to strengthening defence ties with the US, both bilaterally and through Asean-led mechanisms, while highlighting the importance of preserving Asean’s unity and centrality in maintaining regional peace and stability.

Malaysia reaffirms commitment to strengthen defence ties with US

Benjamin Netanyahu won the support of an unexpectedly clear majority of Israeli Jews in an election billed as a major turning point in his nation's history, apparently ensuring he will survive as the prime minister at least in a caretaker role.

Netanyahu survives another day with unexpectedly clear backing of Israeli Jews in election

Opcom Holdings Bhd, now known as Hextar capital Bhd (KL:HEXTAR), co-founder Eric Chhoa Kwang Hua is seeking to list fibre-optic cable protection materials manufacturer Unigel Global Bhd on Bursa Malaysia’s ACE Market to fund its Malaysian expansion.

Opcom co-founder Eric Chhoa’s Unigel Global seeks ACE Market listing to fund Malaysian expansion

The IPO of Mi Material, which raised a total of S$294 million (RM935 million) at S$1.80 each, was 2.1 times subscribed.

IPO of Mi Technovation's Singapore unit 2.2 times subscribed

The Malaysia Competition Commission is investigating 510 firms over suspected bid-rigging in tenders worth more than RM3 billion across the public and private sectors.

Malaysia Competition Commission probes 510 companies for potential bid-rigging

The government will impose e-invoicing requirements on foreign online commerce platforms as part of efforts to strengthen oversight of their operations in Malaysia.

Govt to require foreign online commerce platforms to adopt e-invoicing — minister

No work permit applications for migrant labourers have been processed from Nepal since Oct 1 as Kathmandu takes legal action against the 25 companies authorised by Putrajaya to submit the recruitment paperwork.

Nepal cracks down on Malaysian-sanctioned recruitment agents amid row over access to foreign worker system 

Modern cross-border infrastructure must be engineered to withstand simultaneous threats ranging from physical attacks to cyber intrusions and technical failures, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

RTS Link exercise proves border infrastructure must be ready to counter all threats — Saifuddin Nasution

The US Federal Reserve (Fed) will announce a decision on setting interest rates on Wednesday, with markets expecting the central bank to hold steady days ahead of crucial midterm elections, despite surging inflation.

Fed expected to hold rates steady ahead of US midterm elections

<p>KUALA LUMPUR (Oct 27): Police have frozen and seized accounts involving RM409.21 million in an investigation into alleged corporate mafia activities as at Sept 25, Home Minister Datuk Seri Saifuddin Nasution Ismail said.<br />
<br />
The accounts comprise 70 share-trading accounts worth approxi...

Police freeze RM409m in share-trading, bank accounts in corporate mafia probe

<p>PUTRAJAYA (Oct 28): The transportation costs to bring Datuk Seri Najib's from prison to Putrajaya for next month's civil appeal will be borne either by the former prime minister.</p>


Najib agrees to cover transport costs for appeal hearing in Putrajaya, court told

<p>Bank Negara Malaysia (BNM) has fined two subsidiaries of AMMB Holdings Bhd (KL:AMBANK) a total of RM552,000 for failing to promptly report cash transactions of RM25,000 and above, following lapses in their reporting systems.</p>


BNM fines AmBank, AmBank Islamic RM552,000 over delayed cash transaction reports

<p>Eco-Shop Marketing Bhd (KL:ECOSHOP) hit a four-month low on Wednesday, after the company’s first quarter fell short of analysts' expectations.</p>


Eco-Shop hits four-month low after 1Q miss; price revision looms

<p>The Malaysian billionaire families behind Maxis Bhd (KL:MAXIS) and U Mobile Sdn Bhd are reviving plans to combine the companies in a deal that could create the country’s biggest wireless operator by market value, people with knowledge of the matter said.</p>


<p>Magma Kiara Sdn Bhd, a subsidiary of Bursa Malaysia-listed Magma Group Bhd (KL:MAGMA), has signed a memorandum of collaboration (MOC) with interior fit-out specialist Jalex Sdn Bhd at the Wolo Experience Lounge in Bukit Bintang, to explore its proposed appointment as hotel interior adviser for Wolo Hotel &amp; Residences, Mont Kiara KL, according to a press statement issued on Oct 28.&nbsp;</p>


Magma Kiara partners Jalex for hotel interior work at RM850 mil Wolo Mont Kiara KL

<p>Oil prices climbed more than 1% on Wednesday after an attack on a refinery in Saudi Arabia renewed concerns around supply risks from the major exporter.</p>


Oil rises over 1% after Saudi Arabian refinery attack reignites supply risk

<p>Berjaya Property Bhd's (KL:BPROP) unit Berjaya Construction Bhd said on Wednesday it will undertake design-and-build works for the Sanglang Port development project in Perlis.</p>


Berjaya Construction to undertake design-and-build works for RM1.2 bil port development project in Perlis

<p>Indonesia's President Prabowo Subianto will meet Singapore’s top diplomat on Wednesday as ties between the two Southeast Asian nations come under strain.&nbsp;</p>


Prabowo to meet Singapore envoy on mission to ease relations

<div class="content-side-bar-box" style="background-color: lightblue; color: black;">
<p><span style="color:#c0392b;"><strong>Summary</strong></span></p>

<p>•&nbsp;&nbsp; &nbsp;While high-profile deals continue (such as the RM132 million sale of Menara Haw Par and other land acquisitions), buyer...

Menara Haw Par deal signals renewed interest in KL’s Golden Triangle

<p>Billionaire Gautam Adani-controlled Adani Enterprises Ltd returned to profit in the second quarter as newer businesses including airports and data centres scaled up.</p>


Adani flagship returns to profit as newer businesses deliver

<p>The rapid backlash against French football star Kylian Mbappe over a perceived insult to Mao Zedong underscores how little room for error remains for celebrities and global brands seeking to tap China’s lucrative market.</p>


Mbappe backlash shows shrinking margin for error in China

<p>AMMB Holdings Bhd (KL:AMBANK) will likely shrug off rising bond yields, and it may be time to start buying shares of the sixth-largest bank in Malaysia again, an analyst said.</p>


AMMB on track with earnings, time to ‘buy’ again — analyst

<p>Corruption and other scandals involving government-linked companies (GLCs) are, unfortunately, not new. Neither are analyses and commentaries that follow. We are never short on prescriptions for how to prevent these scandals. The latest, of course, is the scandal that engulfed Lembaga Tabung Haji...

My Say: Corruption scandals and GLCs: When accountants have more clout than lawyers (and what lawyers can do about it)

<p>KUALA LUMPUR (Oct 28): Bursa Malaysia Bhd (KL:BURSA) reported on Wednesday that its earnings grew nearly 10% in the third quarter from a year earlier, thanks to higher trading activities.</p>


Bursa Malaysia grows 3Q net profit by nearly 10%, says on track with targets

<p>A stronger-than-expected earnings report propelled Nestlé (Malaysia) Bhd (KL:NESTLE) higher on Wednesday, extending the stock's rally as analysts raised their target prices.</p>


Nestlé Malaysia extends gain towards two-month high after 3Q beat, analysts raise target prices

<p>Datin Seri Rosmah Mansor will vigorously resist a Lebanese jewellery firm’s bid to enforce a High Court judgement in June which had ordered her to pay the firm RM67.5 million over 43 missing pieces of jewellery that had been sent to her in February 2018.</p>


Rosmah to vigorously resist Lebanese firm enforcing RM67.5 mil judgement on her

<p>KUALA LUMPUR (Oct 28): The Energy Commission&nbsp;is developing a comprehensive framework and guidelines on self-generation facilities and the use of renewable energy for the data centre sector, said Deputy Prime Minister Datuk Seri Fadillah Yusof.</p>


Fadillah: Energy Commission developing comprehensive guidelines for self-generation facilities in data centre sector

<p>Standard Chartered (StanChart) on Wednesday hiked its full-year growth and profitability targets after third-quarter income handily beat estimates, sending its shares 8% higher.</p>


StanChart shares soar after it hikes full-year targets and trounces profit estimates

<p>SEOUL (Oct 28): South Korean chipmaker SK Hynix said on Wednesday that it would return about US$75 billion to shareholders this year, after reporting a more than seven-fold jump in quarterly profit as AI infrastructure demand continues to drive up memory chip prices.</p>
