Highlights:

  1. Najib granted RM3.5mil bail after being slapped with 25 new charges
  2. Family businesses in Malaysia least confident of future-readiness
  3. British Biotech Firm Launches Johor Flagship Factory

Najib granted RM3.5mil bail after being slapped with 25 new charges
Former prime minister Datuk Seri Najib Tun Razak was granted bail of RM3.5mil with two sureties in his latest court case after he was slapped with 25 graft and money-laundering charges involving RM2.3bil. His lawyer Tan Sri Muhammad Shafee Abdullah requested for bail to be paid in staggered payments, with RM1mil to be paid on Friday and another RM500,000 next week. Sessions Court judge Azura Alwi allowed the bail payments be made over a period, as long as it was settled by 28 September. Datuk Seri Najib also claimed trial to 21 charges under the Anti-Money Laundering Act and Anti-Terrorism Financing Act 2001 (Amlafta).

Family businesses in Malaysia least confident of future-readiness
According to a study by The Economist Intelligence Unit (EIU), family businesses in Malaysia are least assured in Southeast Asia about their future-readiness. They emerged as least positive towards their internal capabilities to deploy new technology (7.24). They also scored the lowest in terms of confidence levels in the people category – their employees’ development of skills and ability to hire and retain talent (7.28 on a 10-point scale, with 10 as most confident). As part of the regional study, family business leaders in Southeast Asia including Indonesia, Malaysia, Philippines, Singapore and Thailand rated their future readiness across categories of people, environment, processes and technology. The findings of the study were shared today at an EIU event entitled, ‘Tradition, Technology and Transformation – Embracing change and ensuring continuity in family-owned businesses’.

British Biotech Firm Launches Johor Flagship Factory
Pioneering British biotech company Nutrition Technologies launched its flagship factory in Johor today. The successful combination of local knowledge and expertise from the Malaysian workforce combined with the company’s capital and technology is set to position Malaysia at the centre of alternative protein production for animal feed in Asia. The flagship factory marks Britain’s latest investment into Malaysia. Focused on finding new sources of high-grade proteins for animal feed, Nutrition Technologies produces proteins and oils from black soldier fly larvae, which have comparable amino acid and fatty acid profiles to fishmeal, the traditional source of animal feed protein, which is now in short supply due to global overfishing. The company vision is to be the largest producer and supplier of alternative proteins in the world and put a stop to the growing protein deficit.