The EDGE - 02 April 2026

ceoMorningBriefthursday, april 2, 2026Issue 1129/2026theedgemalaysia.comAnwar announces work-from-home for public sector, govt-linked companies from April 15 p3HOME: Concrete Engineering Products gets takeover offer from YTL at RM2.60 per share p8TNB seeks to raise up to RM10 bil via sukuk p10Pamela Ling’s family still in the dark nearly one year after ‘forced disappearance’ outside MACC HQ p14WORLD: Trump says ceasefire with Iran only possible when Strait of Hormuz reopens p18Energy shock clouds US$800 bil of Asian data centre financing p25Jeffrey Cheah urges GLICs to evaluate Sunway’s IJM bid objectivelyReport on Page 5.bernamaBrace forgradual rise in electricity prices, EC warnsReport on Page 2.

thursday april 2, 2026 2 The E dge C E O m o rning briefpublished by ( 2 6 6 9 8 0 - X ) tel . 603-77218000 Level 3, Menara KLK, 1 Jalan PJU 7/6, Mutiara Damansara, 47810, Petaling Jaya, Selangor, Malaysiapublisher + ceo . Ho Kay Tat editor-in-chief . Kathy Fong managing director, business . Sharon Teh chief operating officer . Lim Shiew Yuineditors . Jenny Ng . Tan Choe Choe to contact editors: [email protected] advertise: [email protected] edge ceo morning briefRead from desktop or mobile device. You can print in A4 to read. Set print mode to fit or shrink oversize page.to get on emailing [email protected] for gradual rise in electricity prices, EC warnsNew power plant bid takes into account delayed projects, says ECPUTRAJAYA (April 1): Malaysians need to start preparing for higher electricity tariffs this year, the Energy Commission said amid rising generation fuel costs.The adjustment for higher fuel prices will be gradual under the existing mechanism, though more than eight out of 10 household users will not be affected for now, said the commission’s chief executive officer Siti Safinah Salleh at the annual regulatory review briefing on Wednesday.Still, “we do have to brace ourselves on the increasing costs in the fuel price,” she said.Prices of coal and natural gas, which contributed 92% of Peninsular Malaysia’s energy mix in 2025, have been on the rise following the Middle East conflict as gas supply from the region gets cut off while countries ramp up coal-fired power generation as well.Brent, the global benchmark for crude oil, is still above US$100 per barrel, while the most traded Newcastle coal futures have jumped to 2024 highs at US$142 per tonne. Natural gas prices, meanwhile, have retreated from the recent surge driven by the Iran war.While 80% of natural gas for the power sector comes from domestic supply with price caps, there will be impact from global price increases, Siti Safinah noted. The balance 20% is imported, largely from Australia, and subjected to market prices, she said.Malaysia’s automatic fuel adjustment mechanism is expected to provide rebates up until July, based on the latest forecast by Tenaga Nasional Bhd (KL:TENAGA).homeby Adam Aziztheedgemalaysia.comby Adam Aziztheedgemalaysia.comUnder the system, a rebate or surcharge will be applied, depending on the difference between actual fuel prices and benchmarked fuel prices. The automatic adjustment is capped at three sen per kilowatt-hour — and anything exceeding this threshold will require Cabinet approval.Manage demandThe energy squeeze comes at a time when Malaysia heads into the summer season in May, when maximum electricity demand is typically recorded from higher usage of air conditioning.Malaysia currently has secured the supply for coal and natural gas to meet projected demand until the end of the year.“We have safeguards in our contracts” and key suppliers Indonesia and Australia have continued to commit to providing the contracted supply to Malaysia, she said.Nearly two-thirds of Malaysia’s coal supply comes from Indonesia, 22% from Australia and the rest in other parts of the world.However, consumers too “need to play their part and contribute to managing the security of the system” to address the demand side and reduce pressure on supply requirement, she added.12 Things You Must Know About A StockClick to Read also: EC is reviewing third-party access policies, says CEOEnergy Commission (EC) CEO Siti Safinah SallehLow Yen Yeing/ The EdgePUTRAJAYA (April 2): The Energy Commission (EC) said that the new round of competitive bidding it launched in March for new power plants in Peninsular Malaysia was a strategic move to address shifting timelines in earlier power projects.The schedule changes have delayed the expected commission dates of several plants dished out via direct awards in recent years. EC chief executive officer Siti Safinah Salleh said these players are now “at different levels of development”.“We can share that some of these power plants have shifted (the dates) of when they can actually be commissioned.“So we do take all that into account in our power sector planning, and that’s why we included the new capacity requirements as we plan for NewGen26 (RFP for New Generation Capacity in 2029-2031),” she told the press at the EC’s annual review here.The EC’s latest request for proposal — the second such request it made in two years — is open until July 1.It follows the first round of bidding — NewGen25 — launched last year and awarded in February, which saw Tenaga Nasional Bhd (KL:TENAGA) emerging as the sole winner with a proposed 1,400MW combined cycle gas plant (CCGT) in Paka, Terengganu.Before NewGEN25, power plant projects were directly awarded to companies linked to Tenaga, Malakoff Corp Bhd (KL:MALAKOF), YTL Power International Bhd (KL:YTLPOWR), Kinergy Advancement Bhd (KL:KAB), and several others.continues on Page 4

thursday april 2, 2026 3 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): The pump price of diesel in Peninsular Malaysia is set to hit a new record high of RM6.02 per litre starting Thursday (April 2), jumping 50 sen from the previous week. The retail price of RON97, however, will drop 20 sen to RM4.95 per litre.This marks the fourth consecutive week of aggressive price hikes for diesel since March 11, leaping RM2.90 in total from RM3.12 per litre, while RON97 is seeing its first reprieve after three straight weeks of increases that saw the fuel price jump RM1.90 from RM3.25 per litre to its recent peak of RM5.15.The Ministry of Finance (MOF) said in a statement on Wednesday that these adjustments for the week of April 2-8 come as refined diesel hits a critical high of US$250 per barrel, while refined petrol trades around US$150 per barrel following Brent crude’s surge past the US$100 per barrel mark. The sustained volatility follows the war in Iran, which the International Energy Agency said has triggered the “largest supply disruption in the history of the global oil market”, pushing Malaysian retail prices into unchartered territory. Targeted subsidies maintainedThe diesel price for Sabah, Sarawak and Labuan, however, will remain unchanged at RM2.15 per litre, according to the MOF. Also remaining unchanged is unsubsidised RON95 petrol at RM3.87 per litre.The subsidised price of RON95 under the Budi95 initiative also stays at RM1.99 per litre, though the standard monthly quota for the average Malaysian has, effective this month, been reduced to 200 litres per month from 300 litres previously.The government will also maintain the subsidy for diesel at RM300 throughout April despite the latest diesel price hike. The cash aid, to disbursed from April 8, comprises a base RM200 base assistance and an interim RM100 top-up. It is eligible for recipients under the Budi Individu and Budi Agri-Komoditi categories, involving about 340,000 people.“Beyond this interim measure, the government is considering medium- and long-term measures to ensure the subsidy mechanism remains sustainable, transparent and beneficial to the rakyat, taking into account developments in the global energy crisis and their implications for the energy market,” the ministry said.The government remains committed to ensuring that the people do not bear the full brunt of rising global oil prices, it assured.“Since the outbreak of the Middle East crisis, the government has not fully floated retail pump prices; instead, it has continued to absorb a portion of petrol and diesel subsidy costs for three consecutive weeks. Consequently, efforts to maintain subsidised petroleum prices for the public and specific sectors will be further strengthened to curb rising commodity prices and protect the well-being of the people,” the statement read.KUALA LUMPUR (April 1): The government on Wednesday announced the implementation of work-from-home (WFH) arrangements for the public sector and government-linked companies (GLCs) effective April 15 as a proactive measure to address the global energy crisis.In a video message, Prime Minister Datuk Seri Anwar Ibrahim said the decision, reached at the Cabinet meeting, aims to reduce fuel consumption and ensure the sustainability of the country’s energy supply, which has been affected by the conflict in West Asia.He said tensions involving Israel, the US and Iran have disrupted global supply chains, but Malaysia has so far managed to remain resilient by maintaining the price of RON95 petrol at RM1.99 per litre.“Therefore, even if the situation eases slightly, it does not mean we can afford to be complacent. Any society, whether a family or a nation, that becomes too comfortable and takes matters lightly risks facing greater challenges.“We must accept the reality that the situation is not as usual. If circumstances are worrying, then we must respond accordingly and adhere to our plans,” he said in the video message.Anwar said the government is cushioning the impact of the global energy crisis through the People’s Support Initiative, with an additional allocation of RM4 bilAnwar announces work-fromhome for public sector, govt-linked companies from April 15lion per month to absorb rising global oil costs and ensure the public is not burdened by sudden price increases.In addition, to ensure more efficient resource management, the quota for the Budi Madani RON95 fuel subsidy has been adjusted to 200 litres per month effective Wednesday, alongside the enforcement of daily limits on subsidised diesel refuelling in Sabah, Sarawak and Labuan.The prime minister also said that the government is intensifying efforts to diversify energy sources to safeguard the country’s energy supply.“We are diversifying oil and gas import sources from other countries, as previously announced, and this is also supported by the strong performance of our national oil company, PETRONAS, in managing operations effectively,” he said.Read also:Pahang civil servants to work from home twice a week, says MBPM set to hold talks with state leaders on energy crisis, economy on ThursdayPETRONAS helping govt to guarantee oil and gas supply until May — PMBernamatheedgemalaysia.comPeninsular diesel hits RM6.02 per litre as RON97 drops 20 sen to RM4.95bernama

thursday april 2, 2026 4 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): The Cabinet has agreed to establish a communications command centre linked to the National Economic Action Council (MTEN) to coordinate the government’s response to the global energy crisis triggered by the conflict in West Asia.Communications Minister Datuk Fahmi Fadzil said the centre will be chaired by Deputy Prime Minister Datuk Seri Fadillah Yusof, with daily briefings or media updates scheduled around 4pm.“The centre will coordinate government communications, particularly on responses and measures taken by the government and related agencies, to ensure consistent updates are delivered to the public,” he said Govt to set up communications command centre to coordinate response to energy crisis, says FahmiKUALA LUMPUR (April 1): Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar has been tasked with reviewing and reporting to the Cabinet on improvements to business licence application processes, particularly for sectors affected by the global energy crisis.Government spokesperson Datuk Fahmi Fadzil said the Cabinet had examined issues related to business licence applications involving coordination across multiple agencies, departments and ministries, which were found to be excessively time-consuming and unreasonable.“For this purpose, the chief secretary to Govt to review business licensing process, cut red tape for sectors affected by energy crisisBernamaBernamaGas turbine shortageOne of the reasons power plant developers awarded the project in the first round are facing delays is the shortage of gas turbine.Only a number of developers, such as Malakoff and YTL Power, have managed to secure gas turbines amid the global shortage. Others either have yet to secure slots or are facing financial constraints as supplier are asking for deposits of up to one-third of the gas turbine price, according to channel checks by The Edge.Siti Safinah said it is the developers’ responsibility to ensure the operationalisation of their power plants, to meet the timelines set.“The shortage today is because [the slots] have been booked by certain countries or developers… [The situation] may not be the same in the next three months. This is what we understand from the gas turbine manufacturers.“Those gas turbine requirements... At the end of the day, it is really the developer’s responsibility” to meet the timeline to ensure the operationalisation of the power plants, she said.It is understood that power demand in Peninsular Malaysia may jump more than 5GW in the next few years, fueled by data centre developments.There will be a net new capacity addition of 100MW this year, said Siti Safinah. More power will come online in stages as the data centres are developed.To prepare for contingencies, the EC has also extended the power purchase agreement for nine power plants, to secure 4.8GW of power until 2029-2030.the government has been tasked with reviewing and subsequently reporting to the Cabinet on efforts to reduce bureaucratic red tape, especially for industries, sectors or businesses that may also be affected by the global energy crisis.“Processes that have taken too long or are deemed unreasonable need to be reassessed, streamlined and simplified,” he said at a weekly press conference here on Wednesday.Meanwhile, Fahmi, who is also the communications minister, said the Cabinet had also received the latest briefing from Shamsul Azri on the details of the work-fromhome policy for the public sector.He said the implementation of the policy is now in its final stage of review before an official announcement is made in the near future.“The implementation for the public sector will not be limited to Putrajaya, as the first phase will involve several areas.“For further details, the chief secretary to the government will make an announcement together with comprehensive information for the public service,” he said.As for the private sector, Fahmi said the government encourages employers to assess the suitability of implementing similar policies within their respective organisations.12 Things You Must Know About A StockClick to from Page 2at a weekly press conference on Wednesday.The minister said the Cabinet also discussed follow-up measures to address the economic impact of current global developments.He said Finance Minister II Datuk Seri Amir Hamzah Azizan and Economy Minister Akmal Nasrullah Mohd Nasir will meet the Parliamentary Select Committee on Finance and Economy to present the government’s views and planned measures.“This is to outline the government’s strategies on economic and financial issues arising from the tensions in West Asia and their impact on the national economy amid the global energy crisis,” he said.Low Yen Yeing/The EdgeChief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar

thursday april 2, 2026 5 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 2): Tan Sri Jeffrey Cheah Fook Ling, the founder and 59.4% shareholder of Sunway Bhd (KL:SUNWAY), is urging shareholders of IJM Corp Bhd (KL:IJM), particularly government-linked investment funds (GLICs), to evaluate Sunway’s takeover bid objectively, and not be influenced by the “noises” made by certain quarters. The major GLICs, namely the Employees Provident Fund (EPF), Permodalan Nasional Bhd (PNB), Kumpulan Wang Persaraan (Diperbadankan) or KWAP, hold roughly 45% in IJM.If all of them do not accept the offer, it will be tough for Sunway to succeed.In an interview with The Edge, Cheah said he would be disappointed if all of the GLICs reject the offer because of racebased attacks against the deal on social media by certain groups. Cheah said the feedback from GLICs was positive immediately after Sunway announced the RM3.15 offer for each IJM share on Jan 12, 2026.But things changed after bloggers on social media attacked the deal on racial grounds several days later, followed by by Jose Barrock theedgemalaysia.comJeffrey Cheah urges GLICs to evaluate Sunway’s IJM bid objectivelynews on Jan 18 that the MACC was investigating IJM over alleged governance issue. “I thought I had gotten the support [of the institutional shareholders]. Each of them said the offer made commercial sense [when] we met them so I was confident,” Cheah said.Thus far, PNB which has a 13.3% stake in IJM, has come out officially to say it will reject the offer. The others have yet to publicly state their position, but sources say they are likely to follow PNB.IJM shareholders have until Monday, April 6 to decide.When asked whether Sunway would raise its offer from RM3.15 or increase the cash portion from 10%, Cheah said it would be difficult.“If you change, there’s no end, and also my credibility, as I already said it very clearly. This is the best offer. If they [IJM shareholders] don’t accept, I [will] walk away. That’s what it is now,” he said.If 100% acceptance is unlikely, Cheah is still hopeful of getting 50% plus one share as this would still give Sunway effective control of IJM. Under the conditional offer, if Sunway does not get at least 50% plus one share, the entire offer will be withdrawn.He, therefore, hopes that the remaining shareholders of IJM — which include retail and institutional investors like insurance companies, will grab the chance to be part of a larger and successful entity.Cheah said over the past 10 years from 2016 to 2025 Sunway’s shareholders return was 387% while IJM’s was -9%. He highlighted that Sunway’s profit before tax construction margins were at 12% in contrast to IJM’s 4%, and for property development IJM lagged at 21% to Sunway’s 27%. Cheah, who succeeded in turning a tin mine into a township with complete facilities, believes that Sunway would be able to enhance IJM’s operations in many aspects, including profit margin and bottomline.Sunway’s bid to take IJM private in a cash plus shares deal has gotten much flak as it is perceived to be the takeover of a company controlling strategic national assets such as Kuantan Port and several highways including West Coast Expressway and New Pantai Expressway, by a non-Bumiputera controlled entity. Those who attacked the deal referred to IJM as a Bumiputera company, although it is not.Other GLICs which have shares in IJM include Minister of Finance Inc-owned Urusharta Jamaah Sdn Bhd with 2.84% and Pilgrims’ Fund Board (Lembaga Tabung Haji) with 1.47%.Cheah stressed that the cash plus share offer would enable existing shareholders to stay on with the enlarged Sunway after the privatisation so that they would benefit from the future growth. “I told them [the GLICs] that our proposal [to take over IJM] is for them to stay on because the objective is not to push the institutional shareholders away,” said Cheah.According to executives of Sunway, the company has thus far received about 20% acceptance from IJM shareholders, but they expect the take up to reach 25% very soon.For the full interview, read this week’s issue of The Edge Weekly.12 Things You Must Know About A StockClick to Sunway Bhd founder Tan Sri Jeffrey Cheah Fook Ling is still hopeful of getting 50% plus one share as this would give Sunway effective control of IJM Corp Bhd and if Sunway does not get at least 50% plus one share, the entire offer will be withdrawn.Sam Fong/The Edge

thursday april 2, 2026 6 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): PETRONAS is looking to bring forward the first carbon dioxide (CO2) injection for its carbon capture and storage (CCS) project at the Kasawari gas field, offshore Sarawak, to as early as 2027.This is earlier than its previous projection of 2029 or 2030 and forms part of efforts to reduce the group’s carbon emissions footprint. Petronas head of carbon management Emry Hisham Yusoff said the plan, which remains at an early stage of discussion, takes into account that the gas field began production in August 2024.He said Kasawari was developed before PETRONAS formalised its net zero carbon emissions commitment, resulting in a gap between production and carbon management planning.“When Kasawari was being developed, PETRONAS had not yet made its carbon commitment. During the fabrication stage, we came up with our net zero carbon emissions target and realised the field would emit CO2. So we need to address that.“There is a gap between production and injection readiness, including identifying suitable fields for CO2 storage. Now that Kasawari is producing and emissions have begun, we are looking to expedite efforts to capture and inject the CO2 as soon as possible,” he said.Emry Hisham told this to reporters when asked on the CCS project at the Kasawari gas field on the sidelines of the Offshore Technology Conference Asia (OTC Asia) here on Wednesday.He added that PETRONAS aims to capture 3.3 million tonnes per annum of CO2 for injection under the CCS project.The Kasawari gas field is set to integrate one of the largest offshore CCS projects globally to manage high CO2 levels, and has commenced operations at about 200 million cubic feet per day, with plans to ramp up output to support liquefied natural gas supply.Emry Hisham said PETRONAS is awaiting the final form of the National Climate Change Bill (RUUPIN) before assessing its full implications on the industry, including the implementation of climate obligations and carbon-related regulations.Earlier in March, the Ministry of Natural Resources and Environmental Sustainability said RUUPIN is slated to be tabled in the second session of Parliament in June 2026.The bill is intended to serve as Malaysia’s dedicated climate legislation, establishing a legal framework for climate governance, emissions management, carbon market regulation, as well as reporting and compliance.Emry Hisham also urged the government to expedite the finalisation of bilateral agreements between Malaysia and other countries to facilitate cross-border carbon movement for CCS projects.He said Malaysia is currently in discussions with Singapore and Japan on potenPETRONAS seeks to bring forward first CO2 injection at Kasawari to 2027Bernama tial collaboration, with talks with Singapore understood to be more advanced.However, no agreement has been signed to date, although negotiations are ongoing and a bilateral agreement between the countries would be required before any formalisation.Earlier, Emry Hisham was a panellist at an industry session titled “Scaling Decarbonisation and CCUS: Transforming Offshore Assets for Sustainable Energy Production”.At the session, he said policy and regulatory clarity remain key to unlocking CCS investments, noting that while Malaysia’s existing legal framework supports carbon injection within petroleum operations, it does not fully cover carbon capture from non-petroleum facilities such as energy or gas processing plants.He said the Carbon Capture, Utilisation and Storage (CCUS) Bill 2025 was introduced to address this gap and enable CCS activities, including cross-border projects.He added that bilateral agreements between governments are still required to facilitate carbon movement and ensure alignment with international frameworks.Emry Hisham also said liability is a critical consideration, noting that under Malaysia’s framework, CCS developers are required to monitor and assume responsibility for storage sites for at least 10 years post-closure before applying for handover to the government, subject to regulatory approval and possible extension.reuters

thursday april 2, 2026 7 The E dge C E O m o rning brief

THURSDAY APRIL 2, 2026 8 THE EDGE CEO MORNING BRIEFHOMEKUALA LUMPUR (April 1): IJM Corporation Bhd (KL:IJM) has bagged a second contract to develop a data centre at Elmina Business Park in Selangor, this time worth RM658.01 million.The contract from Sime Darby Property Bhd (KL:SIMEPROP) covers construction, completion, testing and commissioning of the hyperscale data centre, including ancillary facilities, on a site spanning about 77 acres, according to their exchange filings.Construction works will start in the second quarter of 2026, with completion targeted by the third quarter of 2027. Including the latest win, IJM’s contracts for the Elmina project totals over RM1.9 billion.IJM beat three other contractors in the tender process, after all had passed a pre-qualification stage involving a total of nine companies, according to Sime Darby Property.The winner was picked based on the overall evaluation in terms of commercial, capacity and technical expertise, as well as the assessment of Package 1 performance, the company said.Shares of IJM were up four sen or 1.83% to RM2.23 at midday trading break on Wednesday, giving the group a market capitalisation of RM8.13 billion ahead of the contract announcement.IJM scores second data centre job worth RM658 mil from Sime Darby PropertyKUALA LUMPUR (April 1): Concrete Engineering Products Bhd (KL:-CEPCO) has received a takeover offer worth RM2.60 per share from YTL Cement Bhd.Privately held YTL Cement, the building materials unit of YTL Corporation Bhd (KL:YTL), is buying 32.92 million shares or a 53.49% stake in Concrete Engineering for RM103.79 million. Inch Kenneth Kajang Rubber Public Limited Company (KL:INCKEN), which holds a 19.32% stake in Concrete Engineering, and Datuk Dr Che Muhamad Fasir Samsudin are among the sellers. Muhamad Fasir is selling a 4.09% stake, while his son Muhammad Firdaus Muhamad Fasir is selling a 4.67% interest.Under listing rules, YTL Cement is required to extend the offer to the rest of Concrete Engineering’s minority shareholders.The offer price of RM2.60 represents a premium of 73 sen, or 39%, to Concrete Engineering’s last traded price of RM1.87 prior to its suspension on Wednesday morning.It also translates into premiums ranging from about 60% to over 90% against the stock’s volume-weighted average market prices over the past one month to one year.YTL Cement said it intends to maintain Concrete Engineering’s listing status on the Main Market of Bursa Malaysia. Concrete Engineering is involved in the manufacture and sale of prestressed spun concrete piles and poles, which are widely used in infrastructure, building and utility projects across Asia, Africa, Oceania and the Gulf region, according to its annual report.For the first quarter ended Nov 30, 2025 (1QFY2026), Concrete Engineering narrowed its net loss to RM2.88 million from RM5.99 million, as revenue grew 8.3% to RM13.08 million from RM12 million. The deal comes just under two weeks after Concrete Engineering settled a RM16.8 million debt to Muhamad Fasri by transferring its 12.68% stake in Inch Kenneth Kajang Rubber to him instead of paying cash. Muhamad Fasri’s 60%-owned FA Securities Sdn Bhd, which owned another 15.46% in Concrete Engineering, exited the company two days later, or on March 19, 2026, selling all of its shares via direct business transactions. No subsequent announcement of a new substantial sherholder was made. Muhamad Fasri’s daughter Fadhlina Muhammad Fasri is Concrete Engineering’s chief operating officer. Concrete Engineering’s stock, which hadn’t gone above RM1.17 in at least six months, began rising on March 9 and hit a 19-year high of RM1.99 on March 25, 2026. Its shares will resume trading on April 2.Concrete Engineering Products gets takeover offer from YTL at RM2.60 per shareInch Kenneth Kajang Rubber: Disposal to streamline non-core assetsIn a separate filing, Inch Kenneth Kajang Rubber said the disposal of its 19.32% stake in Concrete Engineering to YTL Cement is part of efforts to streamline its non-core assets and focus on its core businesses — tourism, property development and rubber manufacturing.The original cost of the investment was RM40.91 million, while its net book value stood at RM17.51 million after impairments and a prior partial disposal, resulting in an estimated gain of RM19.97 million.“The proceeds from the disposal would be used to reduce its creditors and provide working capital for the enhancement of its subsidiaries,” the group said. “In addition, the proceeds received could be reallocated to mainly fund the group’s existing businesses, future business expansions and/or any future prospective businesses”. Inch Kenneth Kajang Rubber counts Muhamad Fasir as its largest shareholder, holding an indirect 11.46% and a direct 0.78% stake in the company, on top of the 12.68% stake transferred from Concrete Engineering. As at April 1, 2026, the additional interest in Inch Kenneth Kajang Rubber has not been disclosed to Bursa Malaysia, even though notice of Concrete Engineering ceasing to be a substantial shareholder was made on March 16, 2026.Shares of Inch Kenneth Kajang Rubber hit an eight-month high of 46 sen earlier on Wednesday before paring some of its gains to end the day up 20% to 42 sen, valuing the group at RM141.4 million. YTL Corp’s share price rose 3.55% to RM1.75, giving it a market capitalisation of RM20.31 billion.BY SYAFIQAH SALIM theedgemalaysia.comBY LUQMAN AMIN theedgemalaysia.com12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to

THURSDAY APRIL 2, 2026 9 THE EDGE CEO MORNING BRIEFHOMEKUALA LUMPUR (April 1): Willowglen MSC Bhd (KL:WILLOW) is selling its core remote building automation business to Singapore’s Elixir II Pte Ltd in a cashand-share deal worth up to RM215.2 million. As part of the transaction, Willowglen will take a 37.8% stake in Elixir II and partly fund this stake by pledging the shares it receives to a bank.Elixir II, a 97.81%-owned unit of Elixir I Pte Ltd (wholly owned by Singapore-based private equity firm Prime Movers Equity), serves as a special purpose vehicle holding the Excel Marco Group, which provides process control and safety systems, automation and Industrial Internet of Things solutions, and operational technology cybersecurity services.The deal plans to combine Willowglen’s and Excel Marco’s strengths in industrial automation, allowing the group to offer end-to-end solutions — from design and systems to software and maintenance — to a wider client base in Malaysia, Singapore and the region, and handle larger and more complex infrastructure and industrial projects across the industrial automation value chain.According to bourse filings, Willowglen MSC will sell its entire stake in Willowglen Services Pte Ltd (WSPL), principally involved in computer facilities management activities and installation of building automation systems for remote monitoring, for RM175.2 million. The consideration comprises RM72 million in cash and RM103.2 million in new shares of Elixir II, which will give Willowglen MSC a 37.8% equity interest in Elixir II.Separately, Willowglen MSC will dispose of a 25% stake in Willowglen (Malaysia) Sdn Bhd (WMSB), which is principally involved in the sales, implementation and maintenance of computer-based control systems, for RM10 million, with an option agreement covering the remaining 75% at an exercise price of RM30 million. Elixir II may exercise the call option and Willowglen MSC the put option any time from Jan 1, 2027, to 24 months after the disposal is completed.As part of the deal, Willowglen MSC will pledge RM103.2 million of its Elixir II shares to a bank and Elixir I will do the same with its shares. This allows Elixir II to borrow up to S$35 million to help pay for the transaction. Willowglen MSC will need shareholders’ approval to execute the share charge as it exceeds 5% of its consolidated net tangible assets of the group.The disposal values imply enterprise value/earnings before interest tax depreciation and amortisation multiples of 8.34 times and 13.01 times for the financial year ended Dec 31, 2024 (FY2024) and FY2025 respectively.Willowglen MSC said it expects a RM145.2 million gain and immediate cash proceeds of RM112 million from the deal.Willowglen to merge automation business with Singapore firm in RM215 mil cashand-stock dealKUALA LUMPUR (April 1): Malaysia’s data centre construction costs have reached a high of US$12 million (RM48.26 million) per megawatt (MW), with a mid-range cost of US$9.6 million per MW, according to a statement by Cushman & Wakefield on Wednesday.The Malaysian market recorded a 9.3% year-on-year increase in construction costs as artificial intelligence (AI) accelerates and reshapes how facilities are designed, powered, and built.In established regional hubs like Tokyo, Singapore, Taipei and Johor, competition for power-accessible sites, grid capacity constraints, and longer connection timelines are increasing development complexity and delivery risk.Pritesh Swamy, Cushman & Wakefield head of research and advisory for the Data Centre Group in Asia Pacific, said, “AI is transforming data centre design far faster than traditional development cycles anticipated. Each new generation of high-performance hardware demands more power, more cooling and greater structural resilience. These requirements are redefining what it means to build a future-ready facility, and markets that can meet them effectively are pulling ahead while others face rising delivery and cost pressures.”Data centre construction costs across the broader Asia Pacific (APAC) region now range from US$7.9 million to US$19.2 million per MW.Japan remains the region’s most expensive market at US$19.2 million per MW, followed by Singapore at US$17.9 million per MW, while Taiwan is the lowest at US$7.9 million per MW.Andrew Green, Cushman & Wakefield head of Data Centre Group, Asia Pacific, said, “Across Asia Pacific, construction cost inflation diverges sharply, with some markets seeing increases above 15% while others remain below 5%.”Malaysia’s data centre construction costs hit US$12 mil per MW amid AI infrastructure boom, says real estate firmGreen added, “A key reason for this split is that AI is reshaping the physical and technical requirements of data centres, particularly at the shell and core level. Higher power density, more complex cooling systems and stronger structural requirements are becoming standard in AI-ready facilities, with very different cost implications depending on local power availability, labour capacity and delivery conditions.”Procurement conditions are also contributing to uneven cost outcomes as price differences between Chinese and non-Chinese suppliers widen, while longer equipment lead times and the growing adoption of prefabricated and modular construction add variability to project budgets.Sam Asher, Cushman & Wakefield head of development and commercial advisory, project and development services, Asia Pacific, said, “Developers across the region are navigating a more complex delivery environment. Power readiness, procurement decisions and site conditions have become central to project feasibility, particularly for AI-focused builds that require higher density infrastructure and faster deployment timelines.”Many legacy facilities are proving difficult to retrofit for high-density AI workloads, steering owners toward alternative uses such as edge computing, warm storage, and interconnection hubs.theedgemalaysia.comBY JOHN LAI theedgemalaysia.com12 Things You Must Know About A StockClick to Read the full story

THURSDAY APRIL 2, 2026 10 THE EDGE CEO MORNING BRIEFHOMEKUALA LUMPUR (April 1): Dagang NeXchange Bhd (KL:DNEX) plans to establish a sukuk wakalah programme of up to RM3 billion for working capital, in‑vestments, debt repayment and capital ex‑penditure for the group and its subsidiaries.In a bourse filing on Wednesday, the technology infrastructure services provider said the programme has been lodged with the Securities Commission Malaysia, com‑prising senior Islamic medium‑term notes and subordinated perpetual Islamic notes.Under the programme, DNeX also has the flexibility to issue sustainability sukuk or sustainability-linked sukuk under the sukuk in line with applicable local, region‑al and global guidelines or standards, as issued by the SC, the Asean Capital Mar‑kets Forum and the International Capital Market Association.RAM Rating Services Bhd has assigned ratings of A1/Stable for the senior sukuk wakalah and A3/Stable for the perpetual sukuk wakalah.CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are the Dagang NeXchange lodges RM3 bil sukuk programmeKUALA LUMPUR (April 1): Malay‑sia’s largest utility firm Tenaga Nasional Bhd (KL:TENAGA) is seeking to raise up to RM10 billion via sukuk to finance its ongoing operations, investments and sustainability goals.For this purpose, the group known as TNB has lodged an Islamic medi‑um-term note (sukuk wakalah) pro‑gramme with the Securities Commis‑sion Malaysia. The programme will allow the group and its subsidiaries to issue sukuk from time to time with var‑ying sizes and tenures, according to a bourse filing on Wednesday.The programme will provide TNB and its subsidiaries with the flexibility to time its fundraising exercises with varying nominal value and tenures for optimal asset-liability matching. TNB will also be able to access a diversi‑fied pool of investors in local capital markets, it said in the filing with Bur‑sa Malaysia.Under the programme, TNB may is‑sue conventional sukuk as well as sus‑tainability and sustainability-linked sukuk in support of its sustainability pathway, as it aspires to achieve net zero emissions by 2050.The entire programme carries a ten‑ure of up to 50 years from the date of the first issuance, with individual sukuk tenures ranging from one to 50 years. The first issuance is expected within 90 business days.CIMB Investment Bank Bhd and Maybank Investment Bank Bhd are acting as joint principal advisers, joint lead arrangers and joint lead manag‑ers for the programme, while CIMB Islamic Bank Bhd and Maybank Islam‑ic Bhd have been appointed as joint shariah advisers.Shares in TNB rose 18 sen or 1.29% to close at RM14.08 on Wednesday, valuing the group at RM82.07 billion. The stock has gained 32 sen over the past year. KUALA LUMPUR (April 1): The Asso‑ciation of Banks in Malaysia (ABM) has urged individuals and businesses experi‑encing financial constraints amid the cur‑rent global uncertainties to reach out early TNB seeks to raise up to RM10 bil via sukukABM urges individuals, businesses facing financial constraints to seek early bank supportBY LUQMAN AMIN theedgemalaysia.comBY NAVINESHKUMAR SELVAKUMARtheedgemalaysia.comBY NAVINESHKUMAR SELVAKUMAR theedgemalaysia.comjoint principal advisers, joint lead arrang‑ers, joint lead managers and joint sustain‑ability structuring advisers for the sukuk wakalah programme.CIMB Investment Bank Bhd is the sole facility agent while CIMB Islamic Bank Bhd and Maybank Islamic Bhd act as joint shariah advisers.Group chief financial officer Vinie Chong Pui Ling said the sukuk wakalah programme gives DNeX greater flexibility to optimise its capital structure and cash flow management while supporting con‑tinued growth across its core businesses — semiconductor, information technol‑ogy and energy.As at Dec 31, 2025, DNeX had total borrowings of RM131.37 million, accord‑ing to its latest balance sheet.At the time of writing, DneX’s share price is down half a sen or 1.8% at 27 sen, with the market capitalisation of RM938.8 million.12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to to their respective banks to seek support and appropriate assistance.Stressing that the banking industry re‑mains committed to providing assistance, the ABM said this includes repayment ar‑rangements and other tailored financial solutions designed to help customers man‑age short-term pressures while maintaining long-term financial well-being.“Support has always been available for those with genuine needs and banks will continue to review each situation with care, understanding and flexibili‑ty,” the association said in a statement on Wednesday.The banking industry, it said, remains strong and resilient, and is committed to supporting customers amid the global un‑certainties, including developments in the Middle East.“Our priority is to ensure customers feel supported and have access to ap‑propriate assistance during challenging times,” said the ABM.THE EDGE

thursday april 2, 2026 11 The E dge C E O m o rning briefhomeAbsolute ban on import of electronic waste into Malaysia now in effectGovt to re-table Bill on PM term limit, AG-public prosecutor separation — AzalinaPenang reclassifies land without planning approval to reduce quit rent ratesBernamaBernamaBernamaGEORGE TOWN (April 1): The Penang state executive council has agreed to a revised mechanism for determining the annual quit rent rates aimed at reducing the financial burden on landowners.Chief Minister Chow Kon Yeow said all land classified under industrial and commercial use on first grade land, particularly those without planning approval, will be reclassified as building use.Under the new structure, quit rent rates will follow the “building (others)” category, set at 70 sen per square metre for urban land and 50 sen per square metre for rural land.However, affected landowners will not be eligible for the existing 50% rebate.“This approach is the state government’s best initiative to ease the quit rent burden, particularly for affected landowners.“We also advise landowners to take steps to develop their land through proper legal processes to support economic activity and development in Penang,” he told a press conference in Komtar on Wednesday.Chow said that as of March 31, a total of 4,001 feedback submissions and appeals had been received, with 2,885 linked to increased quit rent rates involving first grade land, reclassification from rural to urban status, agricultural (durian) land, hillside plots and rate reviews.Another 1,116 appeals were due to technical issues, including properties spanning multiple lots, financial constraints, abandoned projects, non-profit organisations and undeveloped land.“Of the total cases, 3,043 are currently being processed by district and land offices as well as the State Land and Mines Office.“As of last month, 163,262 quit rent account holders have made payments, representing more than 54% of active taxpayers in 2025,” he said.PUTRAJAYA (April 1): The importation of electronic waste (e-waste) into Malaysia has officially been gazetted as an absolutely prohibited item under the First Schedule of the Customs (Prohibition on Imports) Order 2023.This follows the Federal Government Gazette of the Customs (Prohibition on Imports) Order (Amendment) (No 3) 2026 (P.U.(A) 151/2026), which came into effect on Wednesday, April 1.The gazetting was made pursuant to Subsection 31(1) of the Customs Act 1967 (Act 235).Royal Malaysian Customs Department director general Datuk Amran Ahmad said the move aligns with decisions made during the Special Task Force Meeting on the Direction of Management Enforcement of Plastic Waste and E-Waste Importation No 2 of 2026.“This measure is part of ongoing efforts to tighten control over the entry of hazardous waste into the country and to safeguard the environment,” he said in a statement on Wednesday.He added that the Customs Department will continue to enhance strategic cooperation with relevant agencies, particularly the Department of Environment under the Ministry of Natural Resources and Environmental Sustainability, as well as other enforcement bodies such as the Malaysian Border Control and Protection Agency.The collaboration aims to ensure strict and effective enforcement of the ban on scheduled waste imports, especially e-waste, in line with Malaysia’s commitments under the Basel Convention.Malaysia has been a party to the Basel Convention since Oct 8, 1993, with the Department of Environment designated as the competent authority for its implementation in the country.PUTRAJAYA (April 1): The government has agreed to re-table the Constitution (Amendment) Bill 2026 at the next Parliamentary sitting, covering the separation of the roles of the attorney general (AG) and public prosecutor as well as the limitation of the prime minister’s tenure to 10 years.Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said following the implementation of Phase I of the Madani Accountability Framework in early 2026, the legal and institutional reform agenda is now moving into Phase II, spanning May to August.She said the agenda focuses on strengthening integrity, human rights, the justice system and the development of the country’s judicial infrastructure.“[Also], entering Phase II beginning May, among the key initiatives to be implemented include the drafting of the Malaysian Ombudsman Bill and the Freedom of Information Act at the next parliamentary sitting,” she said in a post on Facebook. Azalina said among the institutional reform initiatives scheduled for implementation in April is the establishment of the Anti-Bullying Tribunal.“It is an important step in strengthening protection for victims and addressing bullying issues more comprehensively as provided under the Anti-Bullying Act 2026.“These measures reflect the government’s continued resolve and commitment to ensuring that every reform agenda is implemented consistently, systematically and effectively in building a more transparent, accountable and resilient system for the nation’s future,” she said.According to the official Parliament website calendar, the Dewan Rakyat sitting is expected to run for 16 days from June 22 to July 16.Read the full story

thursday april 2, 2026 12 The E dge C E O m o rning briefhomenews In brie fSalcon secures RM80.4 mil water pipeline contract in Seberang PeraiKUALA LUMPUR (April 1): Water and wastewater engineering group Salcon Bhd (KL:SALCON) has secured a RM80.4 million pipeline supply contract in Seberang Perai from Penang’s state-owned water corporation. The group said the contract awarded by Perbadanan Bekalan Air Pulau Pinang Sdn Bhd is for the supply and installation of the main pipeline from the proposed Sungai Kerian Water Treatment Plant site to the proposed Batu Kawan Reservoir site, with a provision for future connection to the Jawi Reservoir. The project is scheduled to be carried out within 36 months with site possession commencing on April 6, said Salcon in a bourse filing on Wednesday. “The project expected to contribute positively to theg group’s earnings and net assets of the Salcon group for the financial year ending Dec 31, 2026 onwards,” the group added. Salcon specialises in designing, constructing and operating water and wastewater treatment plants and related facilities across Asia. Salcon shares closed up one sen or 2.22% at 23 sen on Wednesday, valuing the group at RM261.2 million. The counter has decreased 8% this year. — by Navineshkumar SelvakumarZecon appoints former Sarawak state secretary Amar Mohamad as new chairmanKUALA LUMPUR (April 1): Sarawak-based Zecon Bhd (KL:ZECON) appoints Tan Sri Amar Mohamad Morshidi Abdul Ghani as its independent non-executive chairman, effective April 1. In a statement on Wednesday, the civil engineering and construction services provider said Amar Mohamad has four decades’ experience in the public and private sector. He served as the Sarawak state secretary under Barison Nasional from 2009 to 2019. Amar Mohamad also held senior roles in the Chief Minister’s Department, as well as management positions at Petroliam Nasional Bhd (PETRONAS). His appointment fills a vacant position that was previously held by the previous chairman, Datuk Hamzah Drahman, who resigned on June 26, 2025. Zecon said Amar Mohamad currently holds positions including chairman of Development Bank of Sarawak and sits on the board of Sarawak Energy Bhd and the Sarawak Multimedia Authority. In the same statement, the group managing director Zainal Abidin Ahmad said Amar Mohamad’s experience in governance, public sector leadership and stakeholder engagement will support Zecon’s next phase of growth. This is especially with the group’s current flagship programme Kota Petra Green Technology Park Masterplan development to develop a 100MW solar plant in Kuching under a 30-year power deal with state utility Syarikat Sesco Bhd. — by Jazlin Zakri12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to MGB bags RM200.7 mil Penang workers’ quarters projectKUALA LUMPUR (April 1): Construction firm MGB Bhd (KL:MGB) has bagged a RM200.74 million contract for the development of a centralised labour quarters (CLQ) in Penang. The development will be executed in two phases over a period of two years, according to the group in a filing with Bursa Malaysia on Wednesday. MGB is a 45.37%-unit of LBS Bina Group Bhd (KL:LBS), the property developer controlled by Tan Sri Lim Hock San. Phase 1 of the housing construction will see a 19-storey workers’ hostel apartment, a four-storey hostel facility building with parking amenities, and a centralised waste depot, among other supporting infrastructure, according to the filing. Meanwhile, Phase 2 will involve an additional 18-storey workers’ hostel apartment and a utilities building. The contract was awarded to MGB’s wholly owned subsidiary, MGB Construction & Engineering Sdn Bhd, by Lien Dak Builders Sdn Bhd. The overall project undertaken is on behalf of Urban Pinnacle Sdn Bhd. According to AskEdge data, MGB is currently trading at a price-earnings ratio of 4.8 times and a price-to-net asset value ratio of 0.4 times, both the lowest among its peers. Shares in MGB rose 1.5 sen, or 3.7%, to close at 42 sen on Wednesday, giving the group a market capitalisation of RM245.46 million. The stock has declined by more than 2% year to date. — by Luqman AminMaxim Global unit secures RM54 mil Islamic facilities for Cheras sewerage projectKUALA LUMPUR (April 1): Maxim Global Bhd’s (KL:MAXIM) owned indirect subsidiary F3 Cheras Development Sdn Bhd has accepted Islamic banking facilities worth RM54 million from AmBank Islamic Bhd. The company said in a stock exchange filing that the facilities will be used to partly finance the development cost for the decommissioning and upgrading of sewerage treatment plants in Alam Dami, Cheras, Kuala Lumpur. It said the facilities will result in the Maxim group incurring interest and financing expenses, which will be charged to profit or loss, thereby directly impacting its earnings. However, these costs are expected to be fully covered by future earnings from the development of the land after the completion of the project. — BernamaExsim Hospitality bags RM41.5 mil architectural and electrical works contractKUALA LUMPUR (April 1): Exsim Hospitality Bhd (KL:EXSIMHB) said it has secured a RM41.5 million contract for architectural, mechanical and electrical works. The company said in a bourse filing the contract was awarded to its wholly owned subsidiary, Exsim Concepto Sdn Bhd, by Cosmopolitan Avenue Sdn Bhd, the registered proprietor of Empire City Mall in Petaling Jaya. Work is scheduled to be completed on Sept 30, said Exsim Hospitality, adding that the defects liability period will run for 12 months from the issuance of the certificate of practical completion, or until all defects are rectified. As at March 2026, Exsim Hospitality’s unbilled order book stood at RM255.9 million, according to TA Research. — by John Lai

thursday april 2, 2026 13 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) recorded a strong 2025 performance, with total approved financing of approximately RM4.3 billion, marking a 19% year-onyear (y-o-y) increase.Relief president and chief executive officer Samad Majid Zain said its 2025 performance reaffirms its developmental mandate to strengthen Malaysia’s micro, small, and medium enterprises (MSMEs) ecosystem.“Approximately RM3.8 billion (of the RM4.3 billion) was channelled to MSMEs, a 20% increase from the previous year.“More than 60% of customers secured financing of RM1 million and below, underscoring their continued focus on widening access for underserved and unserved entrepreneurs,” he said in a statement Wednesday.This progress is further reinforced by the government’s trust in the bank, with close to RM2 billion in strategic initiatives mandated under Budget 2026 to accelerate inclusive MSME growth and strengthen enterprise resilience across the economy, he said.Beyond financing, Samad said the bank has delivered integrated solutions encompassing capacity building and targeted advisory support.Last year, the bank supported more than 14,500 entrepreneurs through its developmental, social, and financial inclusion initiatives.These efforts strengthen Malaysia’s MSME ecosystem, which accounts for nearly 40% of the country’s gross domestic product, equivalent to more than RM650 billion in economic value. This underscores the sector’s critical role in driving inclusive growth, employment, and economic resilience, the statement said.The bank said there is sustained demand across key strategic sectors, including Bumiputera development, technology and innovation, digital adoption, climate-resilient initiatives, the halal industry, and tourism, in line with Bank Negara Malaysia’s Performance Measurement Framework and the Madani Economic Framework.SME Bank: Approved financing up 19% to RM4.3 bil in 2025KUALA LUMPUR (April 1): Two newly appointed NexG Bhd (KL:NEXG) directors, including Mohamed Najib Ishak — son of executive chairman Datuk Ishak Ismail — have resigned less than a month after joining the board.The other director who is stepping down is Datuk Seri Muthanna Abdullah. Both were appointed as independent and non-executive directors on March 13, following a brief but intense boardroom tussle.In a Bursa Malaysia filing on Wednesday, NexG said the 45-year-old Mohamed Najib and 66-year-old Muthanna had resigned with immediate effect to pursue other interests.Their departure leaves NexG with 10 directors. The board is led by Ishak as the executive chairman and Datuk Abu Hanifah Noordin as the deputy executive chairman cum group chief executive officer.NexG, the sole supplier of Malaysia’s passports and MyKad-related products, has been in the spotlight in recent weeks amid a high-stakes boardroom battle.The episode appears to be triggered by KUALA LUMPUR (April 1): Property developer NCT Alliance Bhd (KL:NCT) has appointed Ong Chou Wen as its first chief executive officer.The Edge learnt that this is the first time NCT Alliance has appointed a professional CEO since its listing on Bursa Malaysia’s ACE Market in 2004, having previously been led by managing directors.The group was previously known as Grand-Flo Bhd before coming under the control of the family of executive chairman and managing director Datuk Seri Yap Ngan Choy in 2019. Ong previously served as CEO of Tropicana Corp Bhd (KL:TROP) and led the property division of WCT Holdings Bhd (KL:WCT) through WCT Land Sdn Bhd.During his tenure at Tropicana, he spearheaded initiatives focused on balance sheet strengthening, including de-gearing efforts, land monetisation, joint ventures and attracting foreign investment. At WCT Land, he was involved in restructuring sales and marketing functions and implementing strategies to enhance operational performance.the emergence of Raya Aviation Holdings — linked to Ishak via his sons Mohamed Najib and Mohamad Yusof — as the company’s largest shareholder on March 4 with a 20.4% stake. This came about after Raya Aviation acquired Skyelimit Alliance Sdn Bhd and Trendtrove Tradin Sdn Bhd.A day later, on March 5, NexG announced the temporary suspension of Hanifah’s executive powers, pending a review of certain investments. In an interview during his suspension, Hanifah claimed he was targeted because he had objected to farming out the company’s government contracts. He also alleged abuse of power in the company, saying several directors and key management personnel were pressured to resign or risk facing investigations by authorities.Hanfah’s suspension was lifted on March 11. On the same day, five of seven directors he had wanted to remove via an extraordinary general meeting resigned en masse, effectively ending the standoff. Two others had resigned a day or two before that.Subsequently, eight individuals Hanifah previously proposed — including Ishak Ismail, Najib Ishak and Muthanna — were appointed on March 13 to fill the gap. Ishak was then redesignated as the executive chairman on March 27, while Hanifah assumed the role of deputy executive chairman.NexG shares rose half a sen, or 1.9%, to 27 sen on Wednesday, valuing the group at about RM1 billion.Two new NexG directors quit, including chairman Ishak Ismail’s sonNCT Alliance appoints Ong Chou Wen as its first CEOby Choy Nyen Yiau theedgemalaysia.comby Luqman Amintheedgemalaysia.comBernamaOng has also held senior positions at HCK Capital Group Bhd (KL:HCK), Mah Sing Group Bhd (KL:MAHSING) via Southville City Sdn Bhd, Putrajaya Holdings Sdn Bhd, and UEM Sunrise Bhd (KL:UEMS), where he was involved in several large-scale development projects, according to the group.Shares in NCT Alliance closed unchanged at 57 sen on Wednesday, giving the group a market capitalisation of RM1.21 billion. The stock has declined by more than 8% year to date.12 Things You Must Know About A StockClick to 12 Things You Must Know About A StockClick to

thursday april 2, 2026 14 The E dge C E O m o rning briefhomePamela Ling’s family still in the dark nearly one year after ‘forced disappearance’ outside MACC HQby Hafiz Yatim theedgemalaysia.comNo clear account of what investigations have been carried out or whether the concerns raised by Ling prior to her disappearance were examined have been provided at all.” — Sangeet Kaur Deo, Ling’s lawyerKUALA LUMPUR (April 1): As the disappearance of Datin Pamela Ling near the headquarters of the country’s anti-graft agency closes in on its one-year mark, her lawyer has complained about the lack of progress in investigations.Sangeet Kaur Deo said in a statement on Wednesday that after months of silence from the police, the family was recently met with a request for basic information, including what steps were taken upon the discovery of her disappearance.“These are questions that had already been posed at the earliest stages,” she said. “These meaningless questions now emerging without explanation or purpose confirm that this investigation indeed lacked direction and seriousness from the outset.”The lawyer said the questions “unnecessarily” reopened wounds for a family forced to endure the disappearance of a daughter, sister and mother.Ling disappeared on April 9 last year, as the e-hailing car she was travelling in was stopped by individuals travelling in separate vehicles near the junction leading to the Malaysian Anti-Corruption Commission (MACC) head office, where she was summoned to give a statement.Two days earlier, she filed a judicial review application against the MACC, alleging abuse of power, unlawful detention and violation of constitutional rights under Articles 5 and 8 of the Federal Constitution following an imposition of a travel ban imposed on her.Chronology of events2003 — Ling filed for divorce from her husband Datuk Thomas Hah Tiing Siu at the Singapore court, while her husband also filed for divorce at the Malaysian court. At the same time Ling filed a civil suit at the Singapore High Court against her husband, Multi Galaxy Pte Ltd and its company secretary to nullify the transfer of shares which she claimed was fraudulently conducted and to reclaim the shares. She also reported the matter to the Singapore Corrupt Practices Investigation Bureau.• Jan 8, 2025 — a warrant of arrest wasissued to compel Ling’s presence at the MACC Johor Bahru office. Singapore’santi-graft agency took Ling into custody and handed her to MACC officers.• Jan 9, 2025 — Ling was produced before the magistrate and remanded for three days at MACC Johor Bahru.• Jan 11, 2025 — Ling was releasedon MACC bail and asked to deposit RM35,000 and required to report to MACC on the 10th of every month and subject to a travel ban.• Jan to April 2025 — she attended theMACC office and was subject to interrogation and had a travel ban imposed on her. Investigations are said to be related to Sky Vantage Sdn Bhd and shifted to Ayam Kuat Maju Sdn Bhd and Multi Galaxy.• March 24, 2025 — Pamela’s lawyerswrote to MACC to lift her travel ban. No reply was received.• April 7, 2025 — she filed a judicial review against the MACC, alleging abuse of power, unlawful detention and violation of constitutional rights for allegedly wanting her to settle the Multi Galaxy dispute.• April 9, 2025 — while travelling to theMACC headquarters, her e-hailing ride car was stopped near the junction of the MACC by several masked individuals and she has been missing since.• May 26, 2025 – Police said they haveinterrogated 47 witnesses regardingLing’s disappearance.Repeated pressureSangeet alleged that Ling had been subject to pressure placed on her by the MACC that led to her arrest, remand and repeated interrogations and prolonged travel restrictions.In her final affidavit, Ling had refused to back down in the face of what she described as sustained pressure and abuse of power in detailed, sworn facts placed on the record of the court.“Yet, one year on, the police have come back with nothing,” Sangeet said. “No clear account of what investigations have been carried out or whether the concerns raised by Ling prior to her disappearance were examined have been provided at all.”The lawyer noted that Malaysia had seen similar past incidents, including the disappearance and killing of Altantuya Shaariibuu and the death of Teoh Beng Hock while in the custody of the MACC, where each case is related to allegations of the involvement of state actors or agencies.To date, Prime Minister Datuk Seri Anwar Ibrahim has remained silent on Ling’s disappearance.“This silence is striking, given the strong and vocal positions he once took in cases such as Altantuya’s and Teoh Beng Hock’s, positions he advanced, regrettably, only while in the opposition,” Sangeet lamented.Ling’s case involves serious allegations of abuse of power by public institutions, “which this government cannot continue to ignore”, Sangeet added.Ling disappeared on April 9 last year, as the e-hailing car she was travelling in was stopped by individuals travelling in separate vehicles near the junction leading to the Malaysian AntiCorruption Commission (MACC) head office, where she was summoned to give a statement.

thursday april 2, 2026 15 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): The High Court on Wednesday has dismissed two separate discovery applications made by Semantan Estate (1952) Sdn Bhd on the federal government with regards to compensation for the 263.27 acres of prime ‘Duta enclave’ land that was acquired pre-Merdeka in 1956.Judge Roslan Mat Nor in his ruling said that although the court recognised the importance of the discovery application, it also noted that the government had also done searches with the Land and Mines Department, KL City Hall, the National Archives, and also the Department of Survey and Mapping which yielded limited results.Roslan said while Semantan Estate’s counsel Janet Chai Pei Ying had argued that the documents are in the government’s possession and they are needed for their expert’s valuation of the said land according to the 1956 rates, and they could be kept under the Selangor Land and Mines Department, the court noticed that the company addressed it generally to the FT Land and Mines Department.“It is not denied that such documents would help the court in arriving at a decision towards assessing the compensation and the government had said they (the documents) are not in their possession. Furthermore, the applicants had not stated where the documents which they needed could have been placed.“Since the documents demanded are not in the federal government’s possession, this discovery application is dismissed,” the judge said, adding no order was made as to costs.The court was scheduled to hear the assessment of damages on Friday (April 3) and April 10. However, both the plaintiffs and government representatives comprising senior federal counsels Nurhafizza Azizan and Azza Azmi informed the court that they could only exchange the valuation reports on Thursday, and need a month to reply to each other’s valuation reports.Hearing date vacatedAs a result, Roslan decided to fix April 10 as case management to fix new hearing dates for the assessment of compensation.Semantan Estate, represented by Messrs Chooi & Co, where Chai appeared with Alexie Ng Ying Ching, had wanted two types of documents: acquisition plans for the 263.272-acre land taken by the government following three gazette notifications, and survey plans showing the land’s accessibility.Earlier this month, the company had filed another discovery application to seek memoranda of transfers (1956–1957) for several lots in Mukim Batu, Kuala Lumpur, which record ownership changes and sale prices and also zoning of the wide areas which the company claimed would serve as evidence of the land value.Chai argued that these documents, which are not in the company’s possession, are in the government’s possession, and are needed for their valuers to comply with their valuation report as per the Court of Appeal’s order for the compensation to be done based on the Dec 3, 1956, market rate.“As these documents are about 70 years old and are not in the company’s possession, they should be with the government. This discovery application should be allowed as it would also help this court to make a final assessment to the compensation of the land based on the 1956 rates,” Chai said.Semantan Estate listed that the documents could be kept by the four government agencies mentioned.Azza in reply said the documents are not in the government’s possession as they had conducted a search at the KL City Hall, the Land and Mines Department, the National Archives, and also the Department of Survey and Mapping.“There is one document which we found and produced, but they (Semantan Estate) say they did not require this one,” she said.by Hafiz Yatim theedgemalaysia.comSemantan Estate’s discovery application dismissed, hearing for compensation also deferredAzza further described Semantan Estate’s application as amounting to a fishing expedition, as their affidavit in support is based on the company liquidator’s statement and not its valuers.Chai replied that the government’s stance that those documents could not be found was not satisfactory, as they can search for them with the Selangor agencies, as Kuala Lumpur was made a federal territory on Feb 1, 1974.The long-standing dispute follows a 2009 court ruling that the government had trespassed in acquiring the land since 1956. This decision was upheld by the Court of Appeal and Federal Court.Following that, the company filed an application to reacquire the land and also sought a return of the land title to Semantan Estate. The company failed to reacquire the land following a High Court decision, but another High Court granted an order for the land title to be returned to Semantan Estate.Following proceedings at the Court of Appeal, and in a decision in June last year, the appellate court upheld the High Court’s decision in barring the company from acquiring the land physically and also allowed the government’s appeal not to register the land back to the company.The appellate court directed the High Court to assess compensation for the land according to the 1956 market rate after the company had only been paid RM1.32 million in compensation that year.The Federal Court had in October upheld the Court of Appeal’s decision, resulting in the High Court being ordered to hold a hearing on the compensation following the appellate court order.An aerial view of the ‘Duta enclave’ prime land.Shahrill Basri/The Edge

thursday april 2, 2026 16 The E dge C E O m o rning briefhomeKUALA LUMPUR (April 1): Former KL Tower operator Menara Kuala Lumpur Sdn Bhd and its subsidiary Hydroshoppe Sdn Bhd will get their day in court over eviction notices issued last year.The High Court on Wednesday allowed the companies’ leave (permission) application to proceed with their judicial review against Federal Lands Commissioner Datuk Muhammad Azmi Mohd Zain and the government.The eviction notices were issued in April last year and the new operator LSH Service Master Sdn Bhd, a subsidiary of Lim Seong Hai Capital Bhd (KL:LSH), has taken over the tower’s operations.However, it is understood that High Court judge Alice Loke Yee Ching found that the issue was not academic and ought to be further ventilated.Previously, the Attorney-General’s Chambers (AGC) had objected to the leave application on the grounds that the interim injunction, stopping the take-over, had been dismissed in a separate court. They added that the applicants have since vacated the iconic tower and are no longer its operators.However, the applicants’ lawyers from Messrs Rosli Dahlan Saravana Partnership countered that at the leave stage, the court only needs to determine that the case is not frivolous and vexatious.The lawyers argue that their clients were evicted on the grounds that they were “squatters” or “occupiers” by law.But this justification, the lawyers say, cannot stand, as their clients are in the midst of a court case where they were seeking to enforce their rights to occupy and operate Menara KL.This is one of the many court cases in the dispute over the awarding of the KL Tower concession, where Hydroshoppe and Menara KL allege contractual breaches and misconduct that led to the awarding of the concession to LSH Service Master.In July last year, the High Court ruled that Hydroshoppe’s and Menara KL’s RM1 billion (main) lawsuit against Communications Minister Datuk Fahmi Fadzil and the government over the concession award will go to trial as there were issues that needed to be fully ventilated.The court, however, allowed LSH Service Master and its owners LSH Best Builders Sdn Bhd and Service Master (M) Sdn Bhd, to be taken out of the lawsuit.Former KL Tower operator passes first hurdle in court to challenge last year’s eviction noticePUTRAJAYA (April 1): The Federal Court has closed the door on a judicial review application brought by civil society to challenge the removal of Bukit Cherakah’s protected status by the Selangor state government.In a split 2-1 decision from the apex court, Pertubuhan Pelindung Khazanah Alam Malaysia (Peka) and Shah Alam Community Forest Society’s (SACF) application for leave (permission) to initiate a judicial review against the Selangor government’s decision to degazette 406.22 hectares of the forest reserve was quashed on Wednesday. Presiding over the bench, Court of Appeal president Datuk Abu Bakar Jais, alongside Federal Court judge Datuk Rhodzariah Bujang, formed the majority. They ruled against granting leave.However, Federal Court judge Datuk Lee Swee Seng, who was the dissenting judge, suggested that the non-governmental organisations (NGOs) had issues that needed to be ventilated at the judicial review stage. The judges then made no order as to costs. The two NGOs had sought for the judicial review to quash a 2022 measure that will open up more than 400 hectares of the forest reserve for development, claiming that it was illegal for the Selangor government to backdate a gazette.The state government had decided to de-gazette the area on Nov 20, 2000, while the gazette was published on May 5, 2022. The delay in publication meant that the public, including the NGOs, was likely not informed until 2022.The Bukit Cherakah forest reserve is home to a group of indigenous people, as well as a popular spot for hikers.In their submissions, lawyers for the NGOs argued that the Selangor state government’s move was illegal and procedurally flawed.Meanwhile, lawyers for the Selangor state argued that the state was well within its rights to backdate the gazette and that their actions were lawful.A 2022 gazette going back 22 yearsThe Selangor government published the degazettement notice in 2022. However, the government backdated it to November 2000. Therefore, legally, the state argues, it will be treated as if it were de-gazetted in 2000. Lawyers for the Selangor state arApex court quashes NGO bid to challenge Bukit Cherakah’s degazettement in split 2-1 decisiongued that this was within the right of the government as it has the authority to gazette and de-gazette land. They said that development approvals were already granted on the land before 2022. The backdated degazettement notice also blocked public objections.The decision on Wednesday directly affects a contentious road project cutting through the SACF, which has faced strong opposition from residents and environmental groups.However, NGO lawyers claim that no public inquiry was done (required after 2011 law changes), no replacement forest land was provided by the government, and the backdating bypassed legalities and public objections. They claim this violates the National Forestry Act 1984 and proper procedure.Prior to this, the two NGOs had failed to obtain leave at the High Court and the Court of Appeal for their judicial review application to be heard.The NGOs were jointly represented by counsels Rajesh Nagarajan, Datuk Dr Gurdial Singh Nijar, Abraham Au, Amanda Sonia Matthew, and Ambbi Balakrishnan.Lawyers for the Selangor government and other respondents were Hani Aziza Ismail Aziz, Mary Phoon, Ng Ka Choon, Low Jiah Yee, Ganapathi Ramasamy, AlSabri Ahmad Kabri, Marla Mohd Aaron, Sarah Low, and John Wong.Read the full storyby Timothy Achariam theedgemalaysia.comby Tarani Palani theedgemalaysia.com

THURSDAY APRIL 2, 2026 17 THE EDGE CEO MORNING BRIEFHOMEPUTRAJAYA (April 1): The government on Wednesday has withdrawn its appeal against the Kuala Lumpur High Court’s decision to grant Pastor Raymond Koh’s family access to a classified report.Senior Federal Counsel Nurul Farhana Khalid informed a three-member bench, led by judge Datuk Supang Lian, along with judges Datuk Ismail Brahim and Datuk K Muniandy, of the decision.She said the withdrawal followed the recent filing of a notice of discontinuance.The court subsequently struck out the appeal and awarded RM15,000 in costs to Koh’s family. KUALA LUMPUR (April 1): The restriction on the purchase of RON95 petrol using foreign credit and debit cards at self-service terminals at petrol stations is being enforced in stages nationwide from Wednesday.The latest measure is part of the government’s efforts to strengthen the fuel subsidy mechanism in Malaysia following the global energy crisis.Checks in several states, particularly those bordering neighbouring countries, found that the Ministry of Domestic Trade and Cost of Living (KPDN) is actively carrying out enforcement and monitoring operations at petrol stations.Petrol stations appear well-prepared and are complying with regulations governing the use of foreign credit and debit cards for RON95 purchases at self-service terminals.In Sarawak, KPDN enforcement director general Datuk Azman Adam visited a petrol station in Tasik Biru, Bau, located about 25km from Kuching city.He said petrol station operators have been highly cooperative in complying with Earlier, Nurul Farhana had appealed to the court to waive costs.However, lawyer Michelle Wong opposed the request, arguing that considerable effort had been expended in responding to the appeal.Hence, she requested RM15,000 in costs, highlighting that an application to adduce fresh evidence had been filed last month.On Nov 5 last year, High Court judge Datuk Su Tiang Joo ruled that the police and the government were liable for Koh’s disappearance and ordered the payment of more than RM37 million in damages.This judgement was immediately contested when the Attorney-General’s Chambers filed a notice of appeal the following day.The suit was filed by Koh’s wife, Susanna Liew Sow Yoke, against the police and the government over her husband’s disappearance and the authorities’ handling of the investigation.Koh was reported to have been abducted by a group of masked men while driving in Kelana Jaya on Feb 13, 2017.Government withdraws appeal over Pastor Koh’s classified reportBan on foreign credit, debit cards for RON95 purchases at pumps takes effectKUALA LUMPUR (April 1): The Malaysian Anti-Corruption Commission (MACC) said James Chai Jin Shern, a former aide to Datuk Seri Rafizi Ramli, has been given another two more weeks to appear in person to assist in the UKbased Arm Holdings deal investigation.If he fails to do so, the MACC in a statement said it may seek help from international authorities, including Interpol, to locate him and ensure his attendance. Chai has been identified as an individual required to assist with the inquiry into Arm Holdings plc. “If James Chai maintains that he has committed no wrongdoing, the appropriate course of action is to present himself to the MACC to provide a statement, rather than issuing explanations in the public domain without appearing before the authorities,” the commission said in the statement.According to the MACC, it had earlier issued a notice to locate him on March 4, 2026. Chai’s lawyers responded stating that he could not attend due to travel costs and work commitments. An extension to March 31 for him to give his in-person statement was given, but he did not respond. The MACC said its latest letter requiring his attendance for questioning includes an offer to pay for his flight to Malaysia.The MACC said that so far, 17 witnesses have been interviewed and key documents collected, with eight more witnesses, including some overseas, to be called in its investigations in the Arm deal.The case involves a RM1.1 billion government deal with Arm, launched during Rafizi’s time as the economy minister to develop Malaysia’s semiconductor and graphics processing unit capabilities.Chai has denied allegations of misappropriation or abuse of power before this, calling out the MACC for treating him like a fugitive.MACC says Rafizi’s former aide James Chai has two weeks to appear in person to give his statementBY JAZLIN ZAKRI theedgemalaysia.comBernamaBernamathe ministry’s directives, but noted that further improvements are needed.“Among the proposals are to make instructions on petrol and diesel filling limits at petrol stations clearer and more visible, as well as to use graphics to better convey information,” he told reporters.According to Azman, a total of 283 petrol stations in Sarawak will continue to be monitored to ensure compliance with the guidelines.In Johor, state KPDN director Lilis Saslinda Pornomo said 180 enforcement officers are conducting inspections and monitoring, particularly in hotspot areas and border entry points in the state.She said monitoring at all 639 petrol stations in the state will also be intensified through daily patrols, including outreach efforts and reminders to foreign vehicle owners.Meanwhile, in Kelantan, manager of a petrol station in Kampung Belukar, Tumpat, Ku Muhammad Farid Aidil Ku Din, said all staff have been briefed on the enforcement measures. “We have not encountered any issues. We welcome the government’s initiative to ensure that RON95 remains readily available to local residents,” he told reporters.Bernama checks found that KPDN enforcement officers have been actively monitoring all petrol stations since early this morning, particularly those near the Malaysia-Thailand border.Read the full story

thursday april 2, 2026 18 The E dge C E O m o rning briefworldTrump says ceasefire with Iran only possible when Strait of Hormuz reopensby Omar Tamo, Kate Sullivan & Sara Gharaibeh BloombergThe war could be over in two or three weeks, Trump said, although he often sets short-term deadlines that are later ignored or replaced.(April 1): US President Donald Trump said he’ll only consider a halt to attacks on Iran when the Strait of Hormuz is reopened, sowing further confusion about how long he’s prepared to continue the war.Iran’s “new regime president” has asked the US for a ceasefire, Trump said in a social-media post on Wednesday, possibly referring to comments Masoud Pezeshkian made on Tuesday that the Islamic Republic has “the necessary will” to end this war with certain guarantees.“We will consider when Hormuz Strait is open, free, and clear,” Trump said. “Until then, we are blasting Iran into oblivion.” Trump’s comments came a day after he suggested he’s keen to exit the conflict sooner rather than later — regardless of a ceasefire with Iran or a deal to open Hormuz, a vital shipping lane for global energy supplies. “We’ll leave because there’s no reason for us to do this,” he told reporters in the White House.The US leader has vacillated throughout the month-long conflict between threatening a military escalation and saying a deal is imminent, often with little changing on the ground. Also on Wednesday, Reuters reported him as saying the US will be out of Iran “pretty quickly”. Meanwhile, Iran fired missiles across the Middle East and Israel and the US kept up their bombardment of the Islamic Republic for a fifth week.Israel, Bahrain, Kuwait and the United Arab Emirates (UAE) all reported attacks overnight and into Wednesday, while QatarEnergy said a fuel oil tanker was struck in Qatari waters. That incident highlighted the ongoing threat to regional shipping and the month-long effective closure of Hormuz, which has choked key commodities including fertilisers as well as oil and gas.Iran’s Foreign Minister Abbas Araghchi said his country has been in direct contact with US Special Envoy Steve Witkoff, but told Al Jazeera that “does not mean that we are in negotiations.” Stocks and bonds surged earlier as investors took the Trump comments as a sign the crisis could be nearing an end. Oil prices briefly fell below US$100 (RM404.12) a barrel for the first time in more than a week, though later pared declines and remain around 40% higher than before the war began.Trump on Tuesday suggested the US has accomplished military goals such as preventing Iran from having a nuclear weapon. “We have had a regime change now,” he added, after US and Israeli strikes killed Supreme Leader Ali Khamenei and other senior figures. Khamenei was later replaced by his son, Mojtaba. The war could be over in two or three weeks, Trump said, although he often sets short-term deadlines that are later ignored or replaced. On Monday, he threatened to destroy Iranian energy assets, as well as desalination plants, if a deal isn’t reached to open the Strait of Hormuz. JPMorgan Chase & Co head Jamie Dimon said the US needs to permanently remove any threat from Iran. “It’s much more important that this be successfully completed, than what the market does,” he told Fox & Friends on Tuesday. Anything less will likely leave the world economy vulnerable to shocks, he said. Trump indicated that it’s possible that the US and Iran could still reach a deal to end hostilities but that one may not be necessary for the war to end. Still, US military assets, including ground troops, continue to be amassed in the region. A third US aircraft carrier strike group left Virginia for the Middle East on Tuesday, according to a US official familiar with the matter. Araghchi said his country is ready for any confrontation with American forces. He added that Iran had zero trust in Washington and doesn’t expect any talks to produce results.Whether or not the US withdraws from the conflict, Iran’s closure of Hormuz — through which about a fifth of the world’s oil and liquefied natural gas (LNG) exports normally flow — remains an unresolved problem. As well as cutting off supplies of oil and gas, a number of critical commodities are transported through the strait, including fertilisers. Trump on Tuesday called on other nations to wrest control of Hormuz, saying those that rely on energy supplies from the waterway should step up. He’s repeatedly expressed frustration at allies for not joining in the war, and The UAE is one country that would support international efforts to safeguard maritime security in the region, according to an official from the country. UK Prime Minister Keir Starmer said his country will coordinate a diplomatic push to reopen Hormuz as part of a group of 35 nations committed to coming up with a plan. He added that he doesn’t want to be “dragged” into the military conflict.Trump has said the US-Israeli bombardment has “obliterated” Iran’s military threat, even as Tehran continues to fire missiles at Gulf Arab states. About 4,950 people have been killed in the war so far, almost three-quarters of them in Iran, according to government organisations and the The US-based Human Rights Activists News Agency. More than 1,200 people have been killed in Lebanon, where Israel is fighting a parallel war with Iran-allied Hezbollah. A damaged building in Beirut, Lebanon, on Tuesday, after an Israeli strike.Reuters

thursday april 2, 2026 19 The E dge C E O m o rning briefworld(April 1): A US-sanctioned vessel carrying Iranian crude oil from deep inside the Persian Gulf is now indicating it’s bound for India, in what could be the first such import in nearly seven years.The Ping Shun, an Aframax built in 2002 and sanctioned by the US in 2025, on Monday began signalling that it will reach India’s west coast port of Vadinar later this week, ship-tracking data show. The tanker loaded Tanker carrying Iran crude signals India after 7-year import gap(April 1): Oil fell in a volatile session on Wednesday, with traders focused on whether US President Donald Trump will soon declare an end to the war in Iran.Brent crude slid below US$100 (RM402.70) a barrel, at one point slumping more than 5%, before recovering much of that loss to trade near US$103.Trump posted on his Truth Social network — ahead of an address to the US due later — that Tehran had asked for a ceasefire. He said America would consider such a measure once the Strait of Hormuz is reopened.The president previously told reporters that the US may exit Iran within two to three weeks, and indicated that an agreement with Tehran might be reached but wasn’t necessary for the conflict to end. Crude prices are still about 40% higher than they were before March as the war continues to squeeze flows through Hormuz, the conduit for about a fifth of the world’s oil. The International Energy Agency has called it the biggest supply disruption ever and prices for some fuels have at times topped US$200 a barrel. The surge in market volatility has made intraday trading choppier, with many traders having to curb position sizes.In the event that the US withdraws, it’s unclear how quickly Hormuz traffic could resume — if at all — and Trump has repeatedly indicated that US allies would have to help secure the strait. Any increases in energy output from the region would also take time, though a detente would lower the risk of further damage to infrastructure. Trump is scheduled to give an address at 9pm Eastern time on Wednesday. He has regularly vacillated between saying an Iran deal is imminent and warning he’s prepared to ramp up military operations. A third US aircraft carrier strike group is currently heading to the Middle East, suggesting a possibility of further escalation.“Flows and actions matter more than words,” said Giovanni Staunovo, a commodity analyst at UBS Group AG.Read the full story(April 1): Gold extended a three-day rally on Wednesday on signals that the war in the Middle East may be nearing resolution, with traders shifting focus from interest-rate hikes to the longer-term risk of an economic downturn.Oil falls in choppy trade ahead of Trump speech on Iran warGold extends three-day gain as Trump signals end to Iran warby Alex Longley Bloombergby Yihui Xie & Jack Ryan Bloombergby Rakesh Sharma & Weilun Soon BloombergBullion rose as much as 1.7% to top US$4,700 (RM18,926.90) an ounce, adding to a 3.5% jump in the previous session before later paring gains. President Donald Trump said he expected the US to end the war with Iran within two to three weeks, suggesting that America had largely accomplished its military goals and would leave others to reopen the Strait of Hormuz.Equities rallied and the US dollar fell. Bond traders are reducing bets that central banks will hike rates to tame inflationary risks arising from the conflict, turning instead to the war’s impact on economic growth. US Federal Reserve (Fed) chair Jerome Powell said earlier this week that longer-term inflation expectations remain anchored.crude from Kharg Island in early March, according to ship-tracking firms including Kpler and Vortexa. The ship’s destination is not final and may change at any time.A successful delivery by the vessel would mark India’s first purchase of crude from Iran since May 2019, when it stopped importing barrels from the country due to US sanctions. The journey comes as the South Asian country struggles with higher oil prices after the effective closure of the Strait of Hormuz as the US-Israeli war against Iran has disrupted Middle East fuel supplies.The US last month tried to offer relief to the market by issuing temporary waivers on its sanctions for Iranian crude already loaded onto tankers. India’s state-backed buyers have so far avoided such purchases, as payment, shipping and insurance hurdles complicate potential transactions.Ping Shun’s openness in signalling Vadinar could point to buyers being closer to ironing out those hurdles.

thursday april 2, 2026 20 The E dge C E O m o rning briefworld(April 1): US companies added more jobs than expected last month, suggesting the labour market may be stabilising.Private-sector payrolls increased by 62,000 in March after a similar advance in the prior month, according to ADP Research data out on Wednesday. The median estimate in a Bloomberg survey of economists called for a 40,000 advance.The advance in hiring was led by the education and health services and construction sectors. Education and health services were responsible for the majority of job creation in the last year. Trade, transportation and utilities as well as manufacturing saw job losses.“Overall hiring is steady, but job growth continues to favour certain industries, including healthcare,” Nela Richardson, chief economist at ADP and a contributor to Bloomberg Television, said in a statement.The report indicates the labour market remained in a “low-hire, low-fire” state in March. Tax cuts could be providing a boost to investment and job growth, though the Iran war risks impeding future hiring by driving up energy prices and denting consumer sentiment if hostilities continue.US companies add 62,000 jobs, led by healthcare, says ADP(April 1): US retail sales rebounded by more than forecast in February in a broad advance as consumers stepped up spending after a slow start to the year.The value of retail purchases increased 0.6% after a slight decline in January, (April 1): UK factories are enduring the most intense strain on supply chains and steepest price pressures since the aftermath of Russia’s invasion of Ukraine, according to a closely watched survey.S&P Global’s manufacturing purchasing managers’ index (PMI) laid bare the impact on British factories from the Middle East conflict just a month after the US and Israel launched a fresh round of attacks on Iran.Manufacturing output contracted for the first time in six months, while a gauge tracking delivery times sank to its lowest level in almost four years. Input costs rose at the fastest pace since October 2022 with shipping delays causing a shortage of materials, pushing up prices.The war is a major setback to the Bank of England which is now considering whether it needs to hike interest rates to tame inflationary pressures building in the pipeline. Economists warn that inflation could rise to more than double the central bank’s 2% target later this year unless there’s a rapid de-escalation of tensions. Business confidence has helped by resurgent auto sales. Excluding motor vehicles and gas, sales rose 0.4%, the most since August, according to Commerce Department data out on Wednesday. The figures aren’t adjusted for inflation. Ten out of 13 categories posted increases, including personal care, clothing and sporting goods and hobby stores. Motor vehicle sales rose 1.2%, the most since July, after severe winter weather crimped demand a month earlier. A pickup in receipts at gas stations likely reflected higher pump prices that accelerated in March because of the Iran war.The retail figures indicate consumer demand was holding up ahead of the Iran war, helped by wage growth that is outpacing inflation and larger tax refunds. A Bank of America Institute analysis of internal card data suggested refunds helped bolster discretionary purchases by lower-income consumers in February.US retail sales in February rise by more than forecast in broad advanceUK factory PMI shows worst supply chain stress since 2022by Julia Fanzeres Bloombergby Tom Rees Bloombergby Mark Niquette Bloombergdropped to an all-time low, according to a poll by the Institute of Directors.The PMI survey showed factories faced mounting pressure on supply chains as the war adds to existing strains on global trade, from Donald Trump’s tariffs to the disruption of trade through the Red Sea from the Iranbacked Houthis in Yemen. Fuel costs have soared due to Iran’s blockage of the crucial Strait of Hormuz and attacks on key energy infrastructure across the Middle East, although Brent crude fell below US$100 (RM404.12) on Wednesday after Trump said an end to the war would come in two or three weeks.According to ADP Research data out on Wednesday, private-sector payrolls in the US increased by 62,000 in March after a similar advance in February.bloomberg

thursday april 2, 2026 21 The E dge C E O m o rning briefworldIndonesia offers three-year timeline to lift public float to 15%Thai business group cuts 2026 GDP growth forecast to 1.2%-1.6%Japan March duty-free sales rebound as China driven slump easesby Orathai Sriring, Kitiphong Thaichareon & Chayut Setboonsarng Reutersby Eru Ishikawa Bloombergby Prima Wirayani & Bernadette Toh Bloomberg(April 1): Duty-free sales at Japan’s top department stores rose in March, signalling a tentative rebound after months of weakness tied to a drop in Chinese tourist spending.Takashimaya Co reported a 6.9% year-on-year increase in duty-free sales, with same-store sales climbing 9.1%. J Front Retailing Co said tax-free sales at its Daimaru Matsuzakaya store rose 10.3%, lifting its overall department store revenue by 4.6%.The gains mark a shift for Japan’s department stores, which endured consecutive months of declining duty-free sales amid lingering tensions with China. Japan’s tourism numbers returned to growth in February, with visitors from South Korea and the US, among others, making up for the slump in Chinese arrivals — a result of Beijing’s warning against travel following Japanese Prime Minister Sanae Takaichi’s Taiwan remarks.“For inbound customers, while the impact of China’s call to refrain from travel to Japan was evident, growth from other countries lifted results above the previous year,” Takashimaya said in a statement.Isetan Mitsukoshi Holdings saw duty-free sales rise 5.4%, in line with a 5.5% increase in overall sales.However, Matsuya Co’s Ginza main store and Asakusa stores reported an about 4% decline in March, as they continued to feel the effects of China’s travel advisory.Chinese tourists have been central to Japan’s post-Covid-19 recovery, accounting for about a fifth of ¥9.6 trillion (RM243.97 billion) in tourism revenue in 2025. The deterioration in ties has exposed Japan’s reliance on China as a vulnerability, intensifying its efforts to diversify its visitor base.Japan has set a target of 60 million visitors and ¥15 trillion in tourism revenue by 2030, and its inbound travel has remained resilient.BANGKOK (April 1): Thailand’s economy is expected to grow by 1.2% to 1.6% this year, a leading business group said on Wednesday, cutting its outlook from an earlier growth forecast of 1.6% to 2.0%.The Joint Standing Committee on Commerce, Industry and Banking maintained its forecast for exports, a key driver of Thai growth, saying they were expected to fall by 0.5% to 1.5%.The Thai economy has been hurt by rising oil prices, the group said in a statement.Foreign tourist arrivals could drop by one million over the next three months, it said.The group’s inflation forecast for this year has been adjusted up to 2.0% to 3.0%, from 0.2% to 0.7% previously.Southeast Asia’s second-largest economy, which has lagged regional peers since the pandemic, expanded 2.4% last year, with exports up 12.9%.The government is planning an oil tax cut, a borrowing guarantee for the oil subsidy fund and other support measures to mitigate the impact of rising oil prices.(April 1): Indonesia will give some listed firms up to three years to raise their public float to at least 15% as part of reforms to boost transparency.Companies with a market value of under five trillion rupiah (US$295 million or RM1.2 billion) will have to meet the minimum level of shares available for public trading by March 31, 2029, the Indonesia Stock Exchange said late Tuesday.Firms worth more than five trillion rupiah with a free float below 12.5% must raise it to 12.5% by March 31, 2027 and then 15% a year later, it added. Firms with existing free float levels between 12.5% and 15% must reach 15% by March 31, 2027.The timeline and rules cap months of consultations as Indonesian officials try to avert a possible MSCI Inc market downgrade. The index compiler had raised concerns over investability earlier this year, a move that triggered a sharp market selloff.Reuters

thursday april 2, 2026 22 The E dge C E O m o rning briefworld(April 1): Singapore is considering additional gold storage space to accommodate other central banks’ holdings, as part of a broader push to establish the nation as an international bullion hub.The city-state is evaluating potential locations, including a plot of land near Changi Airport, according to people with knowledge of the matter, declining to be named as the discussions are confidential. The central bank “is considering the use of our existing facilities for the vaulting of gold”, a spokesperson from the Monetary Authority of Singapore said in response to queries, but didn’t comment on whether it would enlarge its vault. Authorities in the country have announced a plan with a local industry group to develop services and products to boost the precious metal’s trade, including a clearing system for over-the-counter settlement as well as capital-market products.Bullion vaults are often located in places with secure and efficient links to airports, where metal can be easily flown in or out, while minimising the amount Singapore weighs adding gold storage for global central banks — Bloomberg(April 1): Singapore’s Grab Holdings Ltd became Southeast Asia’s first ride provider to start a driverless service, betting the technology can help cut costs and prove out robotaxis in dense urban traffic.The company and its partner, Chinese robotaxi operator WeRide Inc, are starting a very limited autonomous-car service along two approved routes with multiple possible stops in the city-state’s Punggol neighbourhood on Wednesday. An 11-vehicle fleet is designed to ferry residents to nearby amenities and transport links.The public launch follows months of testing and data collection. The fleet has carried more than 1,000 riders and logged more than 30,000km of autonomous mileSingapore gets robotaxis as Grab, WeRide launch driverless carsby Olivia Poh & Srinidhi Ragavendran Bloombergby Yihui Xie, Joyce Koh & Chanyaporn Chanjaroen BloombergRead also: Baidu robotaxis freeze in Wuhan, sparking flurry of police callsof time bullion is on the road. Attracting central banks — the ultimate providers of liquidity given the large volumes of gold they hold in reserves — will be key to Singapore’s plans, along with support from established financial institutions that serve as market makers. Together, these form the backbone of the world’s dominant gold-trading hub — London — where billions of dollars’ age since the effort began in September.The robotaxi rollout is part of Grab’s effort to prove to investors it can be sustainably profitable in the long term. The regional ride-hailing and delivery market leader, backed by Uber Technologies Inc, is facing intense competition from rivals such as Indonesia’s GoTo Group that’s kept profit margins thin.While peers in the US and China have already offered driverless rides for a few years, Grab has only recently stepped up its investment in the technology in a bet it’ll yield cost savings in the long run. The company invested in US-based May Mobility Inc in October and in remote-driving firm Vay in November, and took a stake in China’s Momenta in December. Grab and Uber both are backers of WeRide.US counterparts Uber and Lyft Inc have similarly partnered with technology providers and fleet operators for global deployments, while positioning themselves as platforms that can efficiently inform where robotaxis should be placed to keep them busy.Grab’s nascent venture into autonomous vehicles is unlikely to contribute materially to its top and bottom lines in the foreseeable future, but it is set to bolster the value of its app ecosystem to users, Bloomberg Intelligence said in a report in November. “It’s a solid pillar of the company’s user retention strategy and should strengthen Grab’s competitive position against rivals like GoTo,” it said.worth of the metal is traded every day.Monetary authorities globally hold nearly 39,000 tons of bullion, or about 18% of all gold ever mined, according to the World Gold Council. Even a small share of that market would bolster Singapore’s influence in regional trade that is currently dominated by Hong Kong, the gateway for precious metals going in and out of China, the world’s largest consumer.bloombergbloomberg

thursday april 2, 2026 23 The E dge C E O m o rning briefworld(April 1): BYD Co’s exports and overseas sales climbed 65% in March as surging oil prices due to the Iran war boosted demand for electric cars, though the automaker continues to struggle to regain momentum in the China market.The carmaker said sales outside of China hit 120,083 in March, the highest in three months. But that wasn’t sufficient to lift BYD’s total deliveries, which fell about 20% to extend its streak of declines into a seventh month.Still, it was enough to see the carmaker reclaim its lead over rival Geely Automobile Holdings Ltd, which had outsold BYD in the first two months of year.The mixed bag of data underscores the challenges ahead for BYD, which is leaning heavily on its international push to shore up slumping profit as momentum in China stalls. The figures also indicate that BYD’s big bet on batteries and ultra-fast charging to revive domestic demand is yet to win over consumers, who have grown more circumspect in their spending after electric vehicle (EV) subsidies were reduced.Bustling showrooms across Asia in March had pointed to a likely boost for BYD in foreign markets as surging fuel prices reignite consumer interest in EVs. Still, it’s unclear how long that lift will last: while stubbonly high energy costs would support demand, the global economic fallout of the conflict may weigh on consumer appetite for big-ticket purchases.For BYD’s overseas push, growth will depend on how quickly its new plants in Hungary, Thailand and Brazil ramp up production, and how much volume can be localised rather than exported from China, according to Chris Liu, Shanghai-based senior analyst at Omdia.BYD exports jump on Iran oil shock while domestic sales continue to drop (April 1): Motorists across the Asia-Pacific region are switching to electric vehicles at a rapid pace, as rising fuel costs due to the Middle East war force consumers and companies to reconsider their reliance on petrol and diesel vehicles.The U.S.-Israeli war on Iran has nearly halted shipments through the Strait of Hormuz, which in normal times carries about a fifth of the world’s crude oil and liquefied natural gas, in what the International Energy Agency has called the most substantial supply disruption ever.More than 80% of the crude that passes through the strait is headed for Asia, making the region one of the hardest hit by the oil shock and leaving both consumers and governments to find ways to ease the rising cost burden.Australia, a country heavily reliant on fuel for transport across its vast landscape, experienced a 100% uptick in EV loans in March, as more consumers visit showrooms, according to a report from NAB, the country’s second-largest lender.Enquiries for EV-related lending from Fuel crisis powers surge in EV interest in AsiaPacific regionReutersBloombergcompanies have increased 88%, it said.“We’re seeing more SMEs and larger operators explore EVs and electrification as a way to manage running costs and future-proof their operations, particularly in a period of ongoing fuel price volatility,” said Shane Ditcham, NAB’s executive for business banking.Surging energy prices are also poised to become a strong tailwind for EV sales in some Asia-Pacific countries like Australia and Japan, where slow-charging infrastructure rollouts and consumer preferences for gas-powered cars capped EV sales growth in the past, analysts said.Sanshiro Fukao, an executive fellow at the Itochu Research Institute, said Japan is now at a point where “the trend of shifting to EVs is finally starting to move into full swing” due to rising energy costs.“With the government subsidising petrol prices in Japan, people at the moment still think that it will be OK. But I expect the situation is going to get worse within the month,” he said, adding that could drive a shift toward EVs.Pure battery-powered EV sales account for less than 2% of total vehicle sales in Japan, as major producers such as Toyota have pushed for the adoption of hybrid vehicles.Read also: Tesla March car registrations soar in key European marketsSales of BYD Co’s vehicles outside China hit 120,083 units in March, the highest in three months as high energy costs support demand for electric vehicles.bloombergreuters

thursday april 2, 2026 24 The E dge C E O m o rning briefworld(April 1): Anthropic PBC inadvertently released source code for its popular Claude AI agent, raising questions about its operational security and sending developers on a search for clues about the startup’s plans.“Earlier today, a Claude Code release included some internal source code. No sensitive customer data or credentials were involved or exposed,” an Anthropic spokesperson said in an emailed statement. “This was a release packaging issue caused by human error, not a security breach.”The company’s second security slip-up in just a week compromised approximately 1,900 files and 512,000 lines of code related to Claude Code, an agentic coding tool that runs directly inside developer environments and has access to sensitive information, according to cybersecurity analysts. The release first came to light in a post on X, which purported to share a link to the code and garnered more than 30 million views.Developers said they were poring through the details to try and figure out how the agent works as well as how the startup intended to evolve the platform. Several experts also raised concerns about potential security vulnerabilities in light of the unintended exposure.“Attackers can now study and fuzz exactly how data flows through Claude Code’s four-stage context management pipeline and craft payloads designed to survive compaction, effectively persisting a backdoor across an arbitrarily long session,” said AI cybersecurity firm Straiker in a blog post.Days ago, Fortune reported that Anthropic accidentally made thousands of files publicly available, including a draft blog post that detailed a powerful upcoming model known internally as both “Mythos” and “Capybara” that presents cybersecurity risks. “We’re rolling out measures to prevent this from happening again,” the Anthropic spokesperson said.Anthropic accidentally posts source code of Claude AI agent(April 1): OpenAI has completed a deal to raise US$122 billion (RM492.57 billion) from investors at an US$852 billion valuation, marking the company’s largest funding round to date by far and bolstering its costly push for more chips, data centres and talent.The bulk of the financing, which had been in the works for months, came from three large tech companies. Amazon.com Inc agreed to invest US$50 billion in the round, while Nvidia Corp and SoftBank Group Corp each put in US$30 billion. A large portion of Amazon’s investment — US$35 billion — is contingent on OpenAI going public or reaching the technological milestone of artificial general intelligence.The ChatGPT maker also secured funding from a long list of other prominent backers, including Andreessen Horowitz, Abu Dhabi’s MGX, DE Shaw Ventures, TPG and T Rowe Price. The company’s valuation includes the money raised. Bloomberg News previously reported details of those talks and the financial terms of the deal.The OpenAI funding is by any measure one of the largest transactions in history — dwarfing not just previous fundraising rounds by fellow privately backed startups but also acquisitions and initial public offerings. It reflects the enormous appetite to get in on a technology regarded as transformative for not just companies and industries but whole economies. The financing dwarfed recent funding rounds OpenAI valued at US$852 bil after completing US$122 bil roundby fellow AI startups Anthropic PBC and xAI, data compiled by Bloomberg show.In a first for the company, OpenAI raised more than US$3 billion from individual investors through bank channels. The startup also said it will be included in several exchange-traded funds managed by Cathie Wood’s Ark Invest, with the goal of offering more people exposure to the AI firm. OpenAI chief financial officer Sarah Friar said the financing “blows out of the water even the largest IPO that’s ever been done”. The deal, she said, is meant to give the company “a lot of flexibility” to invest in computing resources and its AI roadmap at a time of broader uncertainty for the public markets, including from the Iran war. Read also: Zhipu gains US$14 bil value after AI fever overrides big lossby Shirin Ghaffary Bloombergby Shirin Ghaffary & Mark Anderson Bloombergbloombergbloomberg

thursday april 2, 2026 25 The E dge C E O m o rning briefworld(April 1): The energy shock sparked by the Iran war is increasingly coming up in conversations about data centre deals for Asian bankers, who have helped finance billions of dollars of artificial intelligence (AI) infrastructure across the region.While lending to the sector remains strong, rising power prices and energy security are becoming a bigger consideration in financing decisions, according to half a dozen bankers, who asked not to be identified discussing private matters. Some of them have even programmed notifications to their digital devices to keep track of regional commodity prices.AI data centres depend on steady power supply to run servers and cooling systems. As the Middle East conflict drags on, Asia-Pacific energy grids face growing strain in powering both existing infrastructure and new buildouts. This could reshape the economics of constructing and financing them.“Rising energy costs turn power from an operating-cost line item into a core credit variable,” said Poh Seng Lee, executive director of the Energy Studies Institute at the National University of Singapore. “The bankability question is shifting from ‘can this asset be built and leased?’ to ‘can this asset secure and manage energy credibly over time’?”The surge in AI demand has sparked a data centre boom, creating one of the largest lending opportunities in years for regional banks. Asia-Pacific is set to become the next global hub, with approximately US$800 billion in investment expected across the region by 2030, according to a February 2026 report by Deloitte LLP.The wave of deals may serve as a litmus test for banker confidence. In March, Bain Capital-owned Bridge Data Centres engaged banks for a potential new loan of up to US$6 billion, while Blue Owl Capital-backed Stack Infrastructure Inc. is seeking a borrowing of about A$3 billion (US$2.1 billion). Meanwhile, BDC and DayOne Data Centers Ltd are looking to double last year’s facilities to at least US$5 billion and as much as US$7 billion respectively, underscoring the vast sums required to fuel expansion across the sector.‘More discriminating’The potential risk from surging energy prices comes at a time when the data centre buildup is already faced with a water problem in some places. Malaysia — which has emerged as a hub for the industry in Asia — in February said it has frozen the development of new facilities not used for AI due to power and water concerns.Some data centre operators such as Australia’s NextDC Ltd — which has operating sites locally and is developing a pipeline in New Zealand, Malaysia and Japan — have preemptively embedded these risks into their contracts. NextDC “is not experiencing any impact as we have historically worked closely with fuel providers under contracts that remediate the risk of delayed supply,” Simon Cooper, chief development officer, wrote in an emailed response to questions. by Kari Lindberg & Sharon Klyne BloombergEnergy shock clouds US$800 bil of Asian data centre financingAustralia, a major AI investment hub in the region, has a significant data centre pipeline with around 8,000 megawatts of projects planned, according to S&P Global Ratings estimates. Yet, amid rising fuel and energy costs, the scale of financing is unlikely to have a material impact on the nation’s major banks, given their current credit ratings and strong balance sheets, said Gavin Gunning, Asia Pacific sector lead for financial institutions ratings at S&P.For some institutions, access to energy and water supply is already central to due diligence, some of the people said. Higher costs will ultimately be passed to the users of the data centres like Alibaba Group Holding Ltd or Amazon.com Inc, and it will be up to them to decide how much of a price increase they will be willing to bear, the people added.Greater concerns around energy security will likely bring more scrutiny to power contracts, with investors increasingly looking to lock-in pricing, said May-Ann Lim, emeritus director of the Asia Cloud Computing Association, an industry body representing the cloud ecosystem across the region.“Rising energy costs will not stop Asia’s data centre buildout, but they will make financing far more discriminating,” said Lee of NUS.As the Middle East conflict drags on, AsiaPacific energy grids face growing strain in powering both existing infrastructure and new buildouts. This could reshape the economics of constructing and financing them.Vecteezy.com

thursday april 2, 2026 26 The E dge C E O m o rning briefworld(April 1): Australian Prime Minister Anthony Albanese used a rare national address to urge the nation to save fuel by switching to public transport and prepare for the possibility of difficult times. “Over coming weeks, if you can switch to catching the train or bus or tram to work, do so,” he said as he laid out the government’s response to the Iran war, which has disrupted energy supplies and driven up global oil prices.Voluntary restraint “builds our reserves and it saves fuel for people who have no choice but to drive”, he said. While Albanese told Australians to “enjoy your Easter”, he also asked them to not buy any more fuel than normal. In the speech carried on all the nation’s TV channels and on radio stations, he warned that “the months ahead may not be easy”, and asked Australians to help prepare so that “if the global situation gets worse and our fuel supplies are seriously disrupted over the long term, we can co-(April 1): US government requests for user data from technology companies have skyrocketed by 770% in the past decade, a new research report has concluded.In total, information from more than 3.5 million accounts has been shared with the federal government, reflecting routine government requests reported under standard transparency disclosures, according to the latest research from digital privacy company Proton. That figure surges to 6.7 million accounts when including Foreign Intelligence Surveillance Act requests, the researchers found.Proton, which based its research on public transparency reports from Apple Inc, Alphabet Inc’s Google and Meta Platforms Inc, found that the US government steadily increased requests over the last decade. The number of disclosed accounts jumped by 927% at Apple, 557% at Google and 668% at Meta during that time period. Contents included emails, files and contacts, according to Proton.The surge has been bipartisan, increasing regardless of which political party was in office, the research shows.“This isn’t a blue or red thing — this isn’t a sort of Trump or Biden or Obama thing. It has gone up consistently for over a decade now,” said Edward Shone, Proton’s head of communications. “This is a government oversight point.”ordinate the next steps together”.Australia cut fuel taxes this week to try and help consumers deal with the record spike in fuel prices caused by the war in Iran. Panic buying has boosted demand and meant that some petrol stations, especially in rural areas, have run out of fuel. While there were reports of prices falling after the tax cut, upcoming Easter and school holidays might lead to a jump in demand as people travel more.Australian PM asks nation to use less fuel to conserve suppliesUS government requests for social media user data are soaringTAIPEI/BEIJING (April 1): At a time of international turbulence the world does not need a crisis over Taiwan, the leader of the island’s largest opposition party said on Wednesday ahead of a trip to China, adding she is seeking reconciliation.Cheng Li-wun, chairwoman of the Kuomintang (KMT), is travelling to China starting Tuesday for six days at the invitation of Chinese President Xi Jinping.China views Taiwan as its own territory and has ramped up its military and political pressure against the government of President Lai Ching-te, who Beijing views as a “separatist”.Speaking at a weekly party meeting in Taipei, Cheng said of her trip that Taiwanese people do not want Taiwan to be one of the world’s most dangerous flashpoints.“What we are promoting is peace and reconciliation, including reconciliation between the ruling and opposition parties within Taiwan, and reconciliation and peace across the Taiwan Strait,” she said.“No one wants to see the Taiwan Strait once again fall into a tense military crisis at a time when the international situation is already turbulent.”Cheng’s trip comes against the backdrop of a stalled US$40 billion supplemental defence budget, as Taiwan’s opposition-dominated parliament holds up Lai’s US-backed proposal, with the KMT insisting it supports defence — but not “blank cheques.”World does not need a crisis over Taiwan, opposition leader says ahead of China tripReutersby James Mayger Bloombergby Annie Bang BloombergThe surge has been bipartisan, increasing regardless of which political party was in office, the research shows.bloombergReutersKuomintang chairwoman Cheng Li-wun says ‘what we are promoting is peace and reconciliation, including reconciliation between the ruling and opposition parties within Taiwan, and reconciliation and peace across the Taiwan Strait’.

thursday april 2, 2026 27 The E dge C E O m o rning briefMARKETSTop 20 active stocksWorld equity indicesTop gainers (ranked by %) Top losers (ranked by %)Top gainers (ranked by RM) Top losers (ranked by RM)NAME VOLUME CHANGE CLOSE YTD MARKET(MIL) (RM) CHANGE CAP(%) (RM MIL)V.S INDUSTRY BHD 194.64 -0.005 0.200 -58.76 789.5ZETRIX AI BHD 130.45 0.015 0.755 -6.79 6,083.9AIRASIA X BHD 94.62 0.100 1.210 -30.46 4,066.6TOP GLOVE CORPORATION BHD 83.80 -0.030 0.660 2.33 5,423.7SUNWAY HEALTHCARE HOLDINGS 79.58 0.130 2.130 — 24,495.4BUMI ARMADA BHD 73.09 -0.005 0.340 18.88 2,015.5TANCO HOLDINGS BHD 52.60 0.020 1.470 26.72 9,017.0CAPITAL A BHD 48.54 0.020 0.435 4.82 1,944.7BORNEO OIL BHD 48.27 0.000 0.010 100.00 152.2PETRONAS CHEMICALS GROUP BHD 41.92 -0.670 5.400 50.46 43,200.0INARI AMERTRON BHD 38.60 0.100 1.390 -16.62 5,289.1GDB HOLDINGS BHD 37.68 -0.005 0.370 1.37 381.6PHARMANIAGA BHD 37.67 0.015 0.260 -8.77 1,704.8VELESTO ENERGY BHD 34.41 0.000 0.340 23.64 2,800.1OCR GROUP BHD 34.35 0.000 0.045 12.50 150.3TWL HOLDINGS BHD 31.11 0.000 0.025 0.00 164.6HARTALEGA HOLDINGS BHD 27.24 0.010 1.160 17.17 3,976.0DIALOG GROUP BHD 27.22 -0.080 2.110 25.60 11,913.1NATIONGATE HOLDINGS BHD 24.36 0.035 0.685 -23.03 1,560.2GAMUDA BHD 23.04 0.110 3.840 -21.95 22,870.5Data as compiled on Apr 1, 2026 Source: BloombergNAME CLOSE CHANGE VOLUME YTD MARKET (%) (‘000) CHANGE CAP (%) (RM MIL)BCM ALLIANCE BHD 0.010 100.00 2.10 100.00 20.3SMTRACK BHD 0.010 100.00 12.50 0.00 13.2CME GROUP BHD 0.015 50.00 1,030.10 0.00 18.1KOMARKCORP BHD 0.060 50.00 3,078.40 9.09 13.9FEDERAL INTERNATIONAL HOLDINGS 0.370 37.04 0.30 17.46 53.6BSL CORPORATION BHD 0.020 33.33 118.20 33.33 38.7ECOSCIENCE INTERNATIONAL BHD 0.185 32.14 24.40 -11.90 69.2REKATECH CAPITAL BHD 0.025 25.00 301.00 -28.57 14.8SHH RESOURCES HOLDINGS BHD 1.200 21.21 38.60 8.11 120.0CYL CORPORATION BHD 0.350 20.69 0.20 1.45 35.0XOX BHD 0.175 20.69 524.00 -28.57 32.5INCH KENNETH KAJANG RUBBER PLC 0.420 20.00 202.50 10.53 176.7MTOUCHE TECHNOLOGY BHD 0.030 20.00 50.00 -14.29 27.8INDUSTRONICS BHD 0.035 16.67 820.40 0.00 24.8MYCRON STEEL BHD 0.280 14.29 1.00 7.69 91.6KUCINGKO BHD 0.080 14.29 3,797.70 -11.11 40.0HO HUP CONSTRUCTION COMPANY 0.040 14.29 5.50 -20.00 20.7JAKS RESOURCES BHD 0.085 13.33 9,890.60 -15.00 223.2APB RESOURCES BHD 0.170 13.33 0.10 3.03 21.1NORTHEAST GROUP BHD 0.695 13.01 6,285.10 -20.57 514.3Data as compiled on Apr 1, 2026 Source: BloombergNAME CLOSE CHANGE VOLUME YTD MARKET (%) (‘000) CHANGE CAP (%) (RM MIL)XIDELANG HOLDINGS LTD 0.005 -50.00 55.00 -50.00 10.6DGB ASIA BHD 0.030 -25.00 0.30 -14.29 9.9BIOALPHA HOLDINGS BHD 0.020 -20.00 360.90 -33.33 28.1TFP SOLUTIONS BHD 0.020 -20.00 1,173.80 -20.00 13.0MERIDIAN BHD 0.020 -20.00 7.50 -20.00 5.1NETX HOLDINGS BHD 0.045 -18.18 54.00 -30.77 42.2INGENIEUR GUDANG BHD 0.025 -16.67 316.10 0.00 37.9CHEETAH HOLDINGS BHD 0.135 -15.62 1,331.70 3.85 65.6XOX NETWORKS BHD 0.030 -14.29 180.00 0.00 34.1SERSOL BHD 0.030 -14.29 813.20 20.00 24.1EVD BHD 0.030 -14.29 82.90 -40.00 13.5HANDAL ENERGY BHD 0.030 -14.29 1,513.60 -14.29 13.5DIGISTAR CORPORATION BHD 0.035 -12.50 26.60 -36.36 22.0FAST ENERGY HOLDINGS BHD 0.035 -12.50 4.20 40.00 17.6HENGYUAN REFINING COMPANY 1.240 -11.43 17,974.40 60.00 744.1MST GOLF GROUP BHD 0.160 -11.11 805.50 -27.27 131.3MALAYAN UNITED INDUSTRIES BHD 0.040 -11.11 2,139.50 -20.00 129.0HEXTAR HEALTHCARE BHD 0.080 -11.11 2,439.80 -15.79 95.5OASIS HARVEST CORPORATION BHD 0.160 -11.11 5.00 -28.89 23.5PETRONAS CHEMICALS GROUP BHD 5.400 -11.04 41,924.00 50.46 43,200.0Data as compiled on Apr 1, 2026 Source: BloombergNAME CLOSE CHANGE VOLUME YTD MARKET(RM) (‘000) CHANGE CAP(%) (RM MIL)PETRONAS CHEMICALS GROUP BHD 5.400 -0.670 41,924.00 50.46 43,200.0MISC BHD 8.200 -0.240 1,822.40 6.90 36,603.1KLCC PROP&REITS-STAPLED SEC 8.820 -0.240 756.40 3.36 15,923.0HENGYUAN REFINING COMPANY 1.240 -0.160 17,974.40 60.00 744.1WESTPORTS HOLDINGS BHD 5.800 -0.130 7,345.60 4.30 19,931.5TA ANN HOLDINGS BHD 5.310 -0.120 879.50 30.21 2,362.1GENTING PLANTATIONS BHD 5.140 -0.110 486.80 4.45 4,612.4DKLS INDUSTRIES BHD 1.520 -0.110 9.20 -9.52 140.9PPB GROUP BHD 11.900 -0.100 718.50 7.59 16,928.9FRASER & NEAVE HOLDINGS BHD 29.900 -0.100 156.20 -14.92 10,966.7GAS MALAYSIA BHD 5.900 -0.100 2,324.10 35.01 7,575.6HIBISCUS PETROLEUM BHD 2.160 -0.100 18,912.00 45.36 1,592.8SARAWAK OIL PALMS BHD 4.610 -0.090 1,141.20 22.61 4,146.2SARAWAK PLANTATION BHD 3.590 -0.090 309.00 22.15 1,005.2DIALOG GROUP BHD 2.110 -0.080 27,222.80 25.60 11,913.1HONG LEONG INDUSTRIES BHD 16.660 -0.080 137.20 1.98 5,462.9MAXIS BHD 3.530 -0.070 1,986.50 -5.39 27,657.8BM GREENTECH BHD 1.190 -0.070 619.50 -17.93 818.5WASCO BHD 1.030 -0.070 3,152.10 21.32 798.1MHC PLANTATIONS BHD 1.560 -0.060 377.30 38.79 306.6Data as compiled on Apr 1, 2026 Source: BloombergNAME CLOSE CHANGE VOLUME YTD MARKET(RM) (‘000) CHANGE CAP(%) (RM MIL)Nestlé (Malaysia) Bhd 100.700 1.580 78.30 -11.67 23,614.2MALAYSIAN PACIFIC INDUSTRIES 29.960 1.180 107.00 -7.07 6,288.1UNITED PLANTATIONS BHD 34.800 0.800 1,217.90 15.77 21,727.6HONG LEONG FINANCIAL GROUP 19.520 0.560 352.70 3.50 22,399.5SUNWAY CONSTRUCTION GROUP 6.800 0.430 4,476.90 21.75 9,030.2ALLIANZ MALAYSIA BHD 20.900 0.420 29.00 8.22 3,851.0HONG LEONG BANK BHD 22.300 0.400 2,641.60 2.04 48,340.1HEINEKEN MALAYSIA BHD 23.000 0.400 133.00 0.17 6,948.3SUNWAY BHD 5.180 0.380 15,907.70 -4.85 35,252.1MALAYAN CEMENT BHD 6.390 0.340 5,225.90 -15.91 8,912.8MALAYAN BANKING BHD 11.660 0.300 15,102.30 14.56 140,865.7PETRONAS GAS BHD 18.260 0.300 336.00 1.90 36,131.6DUTCH LADY MILK INDUSTRIES BHD 32.000 0.300 25.30 3.23 2,048.0MI TECHNOVATION BHD 2.830 0.270 3,122.50 -1.74 2,547.0ITMAX SYSTEM BHD 4.710 0.260 1,394.50 -0.61 4,878.9SHH RESOURCES HOLDINGS BHD 1.200 0.210 38.60 8.11 120.0RHB BANK BHD 8.630 0.190 8,047.30 16.67 37,643.3TENAGA NASIONAL BHD 14.080 0.180 3,250.40 4.66 82,074.3BURSA MALAYSIA BHD 8.690 0.180 646.40 4.83 7,032.8LPI CAPITAL BHD 14.400 0.180 33.30 -0.23 5,736.7Data as compiled on Apr 1, 2026 Source: BloombergCLOSE CHANGE CHANGE(%)CLOSE CHANGE CHANGE(%)DOW JONES* 46,341.51 1,125.37 2.49S&P 500* 6,528.52 184.80 2.91NASDAQ 100* 23,740.19 786.81 3.43FTSE 100* 10,176.45 180.31 1.77AUSTRALIA 8,671.78 190.01 2.24CHINA 3,948.55 56.69 1.46HONG KONG 25,294.03 505.89 2.04INDIA 73,134.32 1,186.77 1.65INDONESIA 7,184.44 136.22 1.93JAPAN 53,739.68 2,675.96 5.24KOREA 5,478.70 426.24 8.44PHILIPPINES 5,998.68 49.74 0.84SINGAPORE 4,975.83 90.38 1.85TAIWAN 33,174.82 1,451.83 4.58THAILAND 1,470.99 22.85 1.58VIETNAM 1,702.93 28.44 1.70Data as compiled on Apr 1, 2026 * Based on previous day’s closing Source: BloombergCPO RM 4,768.00-60.00 OIL US$ 104.010.04 RM/USD 4.0268 RM/SGD 3.1384 RM/AUD 2.7951 RM/GBP 5.3518 RM/EUR 4.6687