We close out 2025 with a high-stakes look at the capital reshuffling, political fragmentation, and geopolitical undercurrents that will shape Malaysia’s financial reality in 2026.

From Apex Healthcare’s privatization to US-China tech warfare, this final episode of the year sets the tone for what’s ahead.

Corporate & Market Developments

🏥 Apex Healthcare Goes Private

* Pharmora crosses the 95% ownership threshold, triggering compulsory acquisition

* Signals a strategic shift away from public market scrutiny toward long-term structural optimization

💳 Genting’s RM3B Refinancing Play

* Issues its first-ever RM3B medium-term notes

* Proceeds used to retire older debt, locking in longer-term stability ahead of potential global shocks

💡 Cypark Resources Redeems RM235M Perpetual Sukuk

* Frees itself from high-cost hybrid debt

* Strengthens balance sheet and signals renewed financial discipline

🏗️ Citaglobal Locks in Stake in Massive Logistics Hub

* Through a share swap with Datuk Shabaruddin Ibrahim, gains ~13% effective stake in Mutiara Perlis

* Strategic exposure to the US$6.5B Perlis Maritime Corridor (PMC) project

🚧 Maju Holdings Faces Judicial Management Bid

* A creditor applies for interim court protection over debt issues tied to the MEX highway

* A clear signal of financial distress and potential restructuring

⚖️ Chin Hin Takes Exyte to Arbitration

* RM201M claim over Intel Pelican Project

* Includes a 795-day extension request—an industrial delay of over 2 years

Regulatory & Legal Headlines

🚨 Najib Razak Files Appeal on 1MDB Conviction

* Legal saga enters a new phase heading into 2026

🪧 PN Leadership Fractures

* Muhyiddin Yassin and Azmin Ali to resign Jan 1

* PAS signals readiness to take over Perikatan Nasional’s leadership

* Political instability now front and center for 2026 outlook

🧾 KLIA Customs Checks Moving to Gates

* Begins January 1st, aims to reduce congestion and improve flow

👷 Special Foreign Worker Quota Window Opens Jan 19–Mar 31

* Applies to all sectors

* Policy aims to streamline workforce planning across industries

Global Macro Forces & Commodity Signals

🖥️ China Doubles Down on Chip Self-Sufficiency

* Mandates 50% local equipment for all new chip factories

* Sharp response to ongoing US export controls

📈 Commodities Surge on Policy-Driven Supply Fears

* Copper on longest winning streak since 2017

* Nickel hits 9-month high after Indonesia supply cut hint

* OPEC+ likely to pause output hikes to avoid 2026 oversupply

💰 Ringgit Closes 2025 Up 9%

* Powered by corporate cleanup, strong inflows, and regional AI momentum

* Question now is whether it can hold that strength amid growing political volatility

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