KUALA LUMPUR: If RM30 million of the RM42 million in dispute was subsequently returned to SRC International, why is the company still seeking the full RM42 million from former prime minister Datuk Seri Najib Razak?

That is one of the central questions raised by Najib’s counsel Muhammad Farhan Muhammad Shafee in his submissions before High Court judge Datuk Raja Ahmad Mohzanuddin Shah Raja Mohzan in the civil suit brought by SRC International Sdn Bhd and its subsidiary, Gandingan Mentari Sdn Bhd.

The trial in SRC International Sdn Bhd & Anor v Dato’ Sri Mohd Najib bin Hj Abd Razak (Kuala Lumpur High Court Suit No. WA-22NCvC-340-05/2021) continues tomorrow.

Farhan’s submissions have put the spotlight on the actual movement of the RM42 million, the amount that ultimately remained with Najib, and the evidence required to establish what he knew at the material time.

RM30m that Went Back to SRC

According to the defence’s reconstruction of the banking records, RM32 million was credited into Najib’s Accounts 880 and 906 on 26 December 2014.

Three days later, RM27 million and RM5 million were paid to PBSB and PPC respectively.

But the defence says the money trail did not end there.

On 7 January 2015, RM30 million was credited back into SRC’s own Account 650.

Farhan’s submission argues that this return is reflected in SRC’s own banking records and completes a portion of the fund flow which the Plaintiffs’ own chart stops short of showing.

The defence has highlighted SRC’s “Timeline 5”, introduced during cross-examination in January, which traced the disputed funds into Najib’s accounts and subsequently showed RM27 million and RM5 million being paid out to PBSB and PPC.

But the chart, the defence says, stops at PBSB and PPC.

The defence’s amended chart adds the subsequent RM30 million payment from PBSB back to SRC, effectively closing the loop.

Why Claim RM42m when RM30m was returned?

This is where the defence’s quantum argument comes in.

Farhan argues that an award of the full RM42 million would effectively require Najib to pay SRC RM30 million which SRC had already received back.

The defence cites the principle against double recovery, arguing that any damages or other monetary relief must take into account the RM30 million already returned to SRC.

The defence therefore says that, even if the Court were to find against Najib on liability — which it does not accept — the full RM42 million cannot stand as the amount recoverable.

Its alternative position is that any award should be limited to the amount that actually remained outstanding, with credit given for the RM30 million returned to SRC. …

The Banking Record Behind the RM30m

The defence also challenges the suggestion that the RM30 million payment from PBSB to SRC cannot be connected to the earlier RM27 million transfer.

It points to PBSB’s bank statement, saying the account held only RM1,956 before the RM27 million arrived on 29 December 2014 and returned to RM1,956 after the RM30 million cheque left on 7 January 2015.

The defence argues this makes it difficult to maintain that the RM30 million came from an unrelated source.

A Civil Trial Must Stand on its Own Evidence

Another major plank of Farhan’s submissions is the distinction between the criminal proceedings against Najib and the present civil action.

The defence argues that Najib’s previous criminal conviction cannot simply be treated as proof that the elements of SRC’s civil claims have been established.

The submission points out that the criminal proceedings involved statutory presumptions and different legal tests, whereas the present action requires SRC to prove the specific elements of its civil causes of action.

The defence notes that the Plaintiffs’ own Reply states that “No equivalent presumption is relied upon in this suit” and that the criminal offence elements are not equivalent to the elements of the civil causes of action.

In other words, Farhan’s argument is that the civil case must be decided on the evidence led in this trial — not by simply importing conclusions from the earlier criminal case.

That distinction is particularly important because SRC’s civil claims include knowing receipt, dishonest assistance, misfeasance in public office and abuse of power.

What Did Najib Actually Know?

The defence has also challenged the evidence concerning Najib’s state of mind.

Farhan argues that the Plaintiffs must establish actual knowledge or conscious dishonesty, rather than relying on hindsight or the proposition that Najib ought to have asked more questions.

The defence submission stresses that suspicion is not knowledge and negligence is not dishonesty, and that the Court must examine the evidence available to Najib at the material time.

The BlackBerry Messages — and Najib’s Absence

The defence has also relied heavily on a 264-page collection of BlackBerry messages involving Jho Low, former SRC CEO Nik Faisal Ariff Kamil and AmBank banker Joanna Yu.

One point Farhan’s submission highlights is that there are no messages from Najib in the bundle.

Instead, Najib appears in the conversations as “MNR”, “PM” or “boss” — as the subject of discussions rather than a participant sending messages.

The defence says the chats are important contemporaneous evidence of how the accounts were actually operated by others.

It also points out that the Plaintiffs themselves relied on the same bundle during the trial.

The USD620m Return

The defence has further drawn attention to Najib’s instruction in July 2013 to return USD620 million, which was described in his instruction as the unutilised sum of donations and personal gifts.

The defence says the amount was voluntarily returned long before the RM42 million transactions now under scrutiny and before any allegation against Najib had arisen.

It describes the sum as roughly 48 times the RM42 million at the centre of the present suit. SRC 340 – Knowledge Element Dec…

The argument is that such conduct is relevant to assessing whether Najib could genuinely have believed that monies entering his accounts were legitimate funds rather than money belonging to SRC.

The Question Before the Court

The defence is therefore asking the Court to look beyond the headline figure of RM42 million.

Its case is that the banking evidence shows RM30 million came back to SRC, that the Plaintiffs’ own fund-flow chart does not show the complete trail, and that the evidence of what Najib actually knew must be examined independently of the earlier criminal proceedings.

For Najib, the defence submission is ultimately about three questions: where did the money go, how much actually remained with him, and what did he know at the time?

The Plaintiffs are expected to respond to these arguments when the trial continues tomorrow before Justice Raja Ahmad Mohzanuddin. – NMH

The post RM42m SRC Suit: If RM30m Came Back To SRC, Why Is The Full Amount Still Being Claimed? first appeared on NMH.

At Dorsett Hotels, it has meant early morning check-ins, last-minute birthday cakes, remembering a guest’s coffee order, and holding space for travellers during their best days and their hardest ones.

That’s why Dorsett is marking its milestone with Perfect 10 – a 10-day celebration across its properties, beginning this month.

But this isn’t about balloons and banners.

It’s about the people who made the last decade feel like home.

Dorsett’s Perfect 10 is about Staying, Exploring and Being Rewarded

In Malaysia, Perfect 10 was launched at Dorsett Kuala Lumpur as the latest experience under the Dorsett Your Rewards loyalty programme.

Its promise is simple:

Stay. Explore. Reward.

Members who complete 10 eligible room nights across a minimum of two stays within 12 months will unlock a Reward Credit equivalent to one complimentary night.

Or, put even more simply:

Stay 10 nights. Get 1 night free.

But Perfect 10 is not simply about getting a free night.

It is about giving guests more reasons to stay at Dorsett, discover new destinations and experience the little things that can turn a hotel stay into something worth remembering.

And that is where the celebration comes in.

Ten Stories, Ten Experiences

Rather than one big anniversary gala, Dorsett has built Perfect 10 around 10 themes that reflect what guests and staff say matters most: Welcome, Family, Comfort, Discovery, Care, Celebration, Sustainability, Local Roots, Togetherness and Giving Back.

Each day of the campaign, a different Dorsett hotel will spotlight one of these themes through an experience designed to put people first.

At Dorsett Kuala Lumpur, Welcome Day began with handwritten notes left on pillows.

Not printed.

Handwritten.

Housekeeping team members stayed after their shifts to write “we’re glad you’re here” in six languages.

At Dorsett Singapore, Family Day turned the lobby into a pop-up play area where parents could enjoy 20 minutes of uninterrupted coffee while staff ran craft tables for their children.

One father, who has stayed at Dorsett on 14 business trips this year, said it was the first time he did not have to choose between taking work calls and reading to his daughter.

At Dorsett Hong Kong, Care Day meant partnering with a local senior centre. Chefs taught residents how to make congee the Dorsett way, while the residents shared recipes dating back to the 1970s.

“We learned more about flavour in two hours than we did in culinary school,” said Chef Mei Ling.

The Kuala Lumpur launch itself reflected that spirit, with guests invited to move through 10 interactive experience stations covering everything from Malaysian flavours and local discoveries to wellness, social experiences and rewards.

Each guest received a Perfect 10 passport and collected stamps along the way, with those completing all 10 stations earning entry into a Lucky Draw.

The People Behind the Perfect Stay

Perfect 10 also turns the spotlight inward.

Because behind every remembered coffee order, birthday cake and warm welcome is a person.

Over the past year, Dorsett asked team members across 12 cities one question:

“What’s one moment that made you proud to work here?”

Their answers became the backbone of the campaign.

There’s Arif from Dorsett Putrajaya, who once drove 40 minutes at midnight to deliver forgotten medication to a guest’s child.

There’s Priya in London, who coordinated with three embassies to help a couple get married at 48 hours’ notice after their original venue cancelled.

And there’s the entire night team at Dorsett Tsuen Wan, who pooled their tips to buy groceries for a family stranded during a typhoon.

“We don’t train people to do those things,” said Peggy Tan, Cluster General Manager, Dorsett Kuala Lumpur.

“We hire people who already care, then we get out of their way. Perfect 10 is about celebrating that instinct.”

Throughout the 10 days, each hotel will share a staff story on social media and in its lobby. Guests are invited to share their own memories too, through a memory wall carrying a simple prompt:

“My Perfect 10 moment at Dorsett was…”

When a Hotel Stay Becomes a Memory

Peggy summed up the thinking behind Perfect 10 at the Malaysian launch.

“At Dorsett, we believe that every stay should be more than simply a night away,” she said.

“It should be an opportunity to discover, connect, experience and create memories.”

It is a simple thought, but perhaps that is what makes it work.

A hotel stay can be a business trip, a family holiday, a weekend escape or simply one night between two destinations.

But it can also be where someone celebrates a birthday, meets an old friend, discovers a new city, gets a little help when things go wrong – or simply feels looked after.

That is the kind of hospitality that people remember.

And that is what Dorsett is celebrating after 10 years.

Giving Back Beyond the Hotel

The celebration will also extend beyond Dorsett’s properties and into the communities where its hotels operate.

Over the next 10 months, Dorsett is committing to 10 community projects, with each property choosing a local partner.

In Petaling Jaya, Dorsett will sponsor 10 scholarships for hospitality students at a local college, together with mentorship days involving department heads.

In Sydney, the hotel will fund 10,000 meals through a food rescue organisation, while in Johor Bahru, the team will refurbish a community reading room.

“We grew because neighbourhoods let us be part of them,” Chan said.

“Perfect 10 is a promise that the next decade will be even more local.”

Guests can play a part too.

For every booking made during Perfect 10, Dorsett will donate a meal to its city partner.

And for returning guests who have stayed 10 times or more, there is a different kind of reward: a Perfect 10 Passport, offering experiences rather than conventional discounts.

Think a kitchen tour with the chef, a sunrise rooftop walk with the general manager, or even choosing the lobby playlist for a day.

What Comes After 10?

Hospitality is changing fast.

Guests want speed, but they also want warmth.

They want apps, but they also want someone to remember their name.

For Dorsett, the next 10 years will be about finding that balance.

The company plans to invest in quieter technology, such as mobile check-in that does not replace the front desk hello, while strengthening its community focus, including a plan to source 30 per cent more ingredients from local farms by 2028.

“We’re not trying to be the biggest,” Tan said.

“We’re trying to be the hotel you think of when someone asks, ‘where did you feel taken care of?’

“If we do that 10 times out of 10, that’s perfect to us.”

And perhaps that is what Perfect 10 is really about.

Not just 10 years.

Not just 10 nights.

Not even just one complimentary night.

But all those small moments that make someone want to come back.

Because ten years is a long time to show up for people.

And if Dorsett has learnt anything in those 10 years, it is that the best stays are the ones that give people something to remember.

Perfect 10 runs from 15 to 24 October 2026 across Dorsett Hotels in Malaysia, Singapore, Hong Kong, China, the UK and Australia. – NMH

The post Dorsett Hotels Marks 10 Years With ‘Perfect 10’ Celebration first appeared on NMH.

KUALA LUMPUR: Tahanan rumah merupakan satu mekanisme berbeza dalam sistem hukuman yang membolehkan seseorang banduan menjalani hukuman di luar penjara, tertakluk kepada syarat yang ditetapkan, kata peguam Datuk Seri Najib Razak, Tan Sri Muhammad Shafee Abdullah.

Beliau berkata tahanan rumah tidak sama dengan remisi atau parol, yang mempunyai mekanisme dan proses tersendiri.

Pengampunan diraja, yang merupakan sebahagian daripada kuasa prerogatif Yang di-Pertuan Agong di bawah Perkara 42 Perlembagaan Persekutuan, turut mendapat perhatian meluas bukan sahaja di dalam negara tetapi juga di peringkat antarabangsa.

Pelbagai persoalan dan spekulasi mengenai pelaksanaan pengampunan bersyarat serta tahanan rumah Najib turut muncul sejak pengumuman dibuat pada 18 September lalu. Shafee sendiri berkata beliau dihujani pertanyaan dan memilih untuk tidak membuat spekulasi kerana masih terdapat perkara yang belum diperjelaskan secara rasmi.

Justeru, sidang media itu memberi ruang kepada Shafee untuk menjelaskan beberapa perkara yang menurutnya telah menimbulkan kekeliruan, termasuk perbezaan antara tahanan rumah, remisi dan parol serta kedudukan syarat yang dikenakan di bawah pengampunan tersebut.

Rekod “Exemplary” Sepanjang Berada Dalam Tahanan

Shafee turut menjelaskan bahawa apabila sesuatu cadangan berkaitan pengampunan atau pengurangan hukuman dikemukakan, antara perkara yang akan dinilai ialah laporan mengenai kelakuan dan aktiviti seseorang banduan sepanjang berada dalam tahanan.

Dalam kes Najib, Shafee berkata laporan mengenai kelakuan dan aktiviti beliau sepanjang berada di penjara adalah “exemplary”.

Penilaian itu menarik perhatian kerana kehidupan dalam tahanan boleh memberikan tekanan dan cabaran yang besar kepada seseorang individu, termasuk dari segi disiplin, emosi dan penyesuaian diri.

Dalam kes Najib, menurut Shafee, rekod yang dilaporkan kepada pihak berkuasa kekal “exemplary”.

Bagi mereka yang telah mengikuti perjalanan Najib sejak beliau berada dalam politik dan perkhidmatan awam — daripada ahli politik, menteri dan Timbalan Perdana Menteri hingga Perdana Menteri — perkara itu juga boleh dilihat sebagai kesinambungan disiplin, perwatakan dan etika kerja yang sama ketika beliau berdepan keadaan yang jauh berbeza di dalam penjara.

Tahanan Rumah Bukan Untuk VIP

Shafee turut menolak tanggapan bahawa tahanan rumah merupakan satu bentuk keistimewaan yang hanya diberikan kepada VIP atau bekas pemimpin.

Menurutnya, tahanan rumah boleh dilaksanakan dalam keadaan tertentu selagi seseorang itu masih berstatus banduan dan tertakluk kepada hukuman.

Beliau berkata persoalan yang lebih penting ialah rasional di sebalik tahanan rumah, bukan siapa yang diberikan kemudahan tersebut.

Menurut Shafee, antara tujuan tahanan rumah ialah membantu seseorang banduan menyesuaikan diri semula dengan struktur sosial dan kehidupan bermasyarakat selepas berada dalam penjara untuk tempoh yang panjang.

Beliau memberi contoh seseorang yang menjalani hukuman selama bertahun-tahun mungkin menjadi semakin terpisah daripada kehidupan dan masyarakat di luar.

Tahanan rumah, katanya, boleh memberi ruang kepada seseorang banduan untuk menyesuaikan diri semula secara berperingkat sebelum kembali menjalani kehidupan dalam masyarakat.

Shafee menegaskan bahawa rasional tersebut bukan khusus untuk Najib atau mana-mana golongan tertentu, sebaliknya boleh terpakai kepada banduan secara umum.

Apa Berlaku Selepas RM50 Juta Dibayar?

Mengenai syarat pembayaran RM50 juta, Shafee berkata beliau tidak dapat memastikan sama ada pembayaran tersebut akan membawa kepada pembebasan Najib ke tahanan rumah pada hari yang sama.

Beliau berkata terdapat kemungkinan timbul persoalan atau cabaran undang-undang lain, dan kerana itu beliau tidak mahu membuat sebarang ramalan mengenai apa yang akan berlaku pada hari pembayaran dibuat.

“Saya tidak tahu,” katanya ketika ditanya mengenai perkara tersebut.

Mengapa Tahanan Rumah Tidak Berlaku Lebih Awal?

Shafee turut ditanya mengapa tahanan rumah tidak dilaksanakan lebih awal, memandangkan terdapat perintah berkaitan tahanan rumah yang dikaitkan dengan Yang di-Pertuan Agong terdahulu.

Menurut Shafee, perintah tersebut sebelum ini tidak diiktiraf.

Beliau menyifatkan keadaan itu sebagai “travesty of justice”.

Katanya, Yang di-Pertuan Agong sekarang telah mempertimbangkan semula perkara berkenaan dan memberikan tahanan rumah, dengan syarat bayaran yang ditetapkan dipenuhi.

Kuasa Pengampunan Terletak Pada Yang di-Pertuan Agong

Shafee turut menyentuh mengenai kekeliruan berhubung keperluan mendapatkan perintah mahkamah bagi melaksanakan keputusan berkaitan pengampunan.

Beliau menegaskan bahawa mahkamah tidak mempunyai kuasa untuk memberikan pengampunan.

Menurutnya, kuasa tersebut terletak pada Yang di-Pertuan Agong, dan dokumen rasmi berkaitan keputusan itu perlu datang daripada pihak berkuasa yang berkaitan.

Shafee berkata beliau telah membuat pertanyaan rasmi mengenai dokumen berkenaan.

Bagaimanapun, beliau menegaskan bahawa sebarang kelewatan dalam pelaksanaan tidak seharusnya secara automatik dikaitkan dengan Yang di-Pertuan Agong.

“Jangan salahkan Yang di-Pertuan Agong,” katanya, sambil menjelaskan bahawa proses melaksanakan sesuatu keputusan merupakan perkara berbeza daripada pihak yang mempunyai kuasa untuk membuat keputusan tersebut.

Perkembangan Rayuan Kes 1MDB

Sidang media Shafee itu turut berlangsung selepas pengurusan kes permohonan Najib untuk menangguhkan pelaksanaan hukuman dalam kes 1MDB di Mahkamah Tinggi Kuala Lumpur pada Khamis, dengan mahkamah menetapkan 14 Oktober untuk mendengar permohonan berkenaan.

Perkembangan itu menjadi antara perkara yang disentuh Shafee ketika bertemu media selepas prosiding tersebut, selain menjelaskan kedudukan tahanan rumah dan perkara berkaitan pengampunan bersyarat Najib.

Menunggu Kepastian

Bagi Najib dan keluarganya, setiap perkembangan ini bukan sekadar proses undang-undang yang perlu dilalui, tetapi turut menentukan bila beliau boleh kembali bersama keluarga dan menjalani baki hukumannya di rumah.

Semakin lama proses itu mengambil masa, semakin panjang juga tempoh penantian dan perpisahan yang perlu dilalui.

Buat masa ini, beberapa perkara masih menunggu keputusan dan pelaksanaan, termasuk permohonan penangguhan hukuman kes 1MDB, pembayaran RM50 juta serta proses rasmi berkaitan tahanan rumah.

Bagi seorang banduan dan keluarganya, setiap hari yang berlalu sementara menunggu kepastian mempunyai makna yang tersendiri. – NMH

The post Tahanan Rumah: Shafee Jelaskan Perbezaannya Dengan Remisi, Parol first appeared on NMH.

KUALA LUMPUR, 15 September 2026 — Moneywave is entering a new phase of growth, combining more than three decades of experience in money services with a physical-and-digital model designed around how people and businesses move money today.

Operating since 1994, Moneywave has moved its headquarters from Pandan Indah to Wisma MCA, Jalan Ampang, where its new flagship brings currency exchange, international remittance and business payment solutions under one roof.

The company currently operates five outlets across West and East Malaysia, with remittance services covering more than 60 currencies.

The New Phygital

Moneywave’s new proposition, described as “phygital”, is built around giving customers flexibility between physical and digital channels.

Customers will be able to start their journey on their phone and complete it at an outlet, or begin at an outlet and continue digitally.

One planned capability will allow customers to lock an FX rate on their phone and collect later at the counter.

The company’s mobile app is scheduled to launch in Q4 2026.

Moneywave CEO Aiman Kallahan said the company’s approach was shaped by more than 30 years of understanding customers’ money-moving needs.

“We spent thirty years learning what people need when they move money. Wisma MCA is where we build the outlet around that, instead of asking customers to fit the counter.”

The company believes digital convenience and face-to-face accessibility can work together, particularly for customers such as foreign workers sending money home, families supporting relatives overseas, students, travellers and small businesses making cross-border payments.

From Heritage to the Future

The new flagship also reflects Moneywave’s long history.

A collection of rare international banknotes from one founder’s personal collection, accumulated over more than 30 years, is displayed at the premises.

What began as an interest connected to his work eventually became a lifelong hobby, offering a glimpse into how money itself has evolved over the decades.

Moneywave sees the Wisma MCA flagship as a blueprint for future outlets, combining physical accessibility with its expanding digital capabilities.

Regulated by Bank Negara Malaysia, the company says its broader vision is to make “Sending Money Like a Message” a daily reality for customers.

With its flagship now open and the mobile app planned for Q4, Moneywave is positioning its next chapter around a simple proposition: digital when convenient, physical when needed. – NMH

The post Moneywave’s Next Chapter: Where Physical Meets Digital first appeared on NMH.

KUALA LUMPUR, 11 September 2026 — Ada lagu dan muzik yang kita dengar dan kemudian kita lupakan. Namun ada juga lagu yang melekat dalam ingatan, membawa kita kembali kepada zaman muda, kenangan bersama insan tersayang, atau kisah pahit manis kehidupan yang pernah kita lalui.

Di sebalik setiap lagu itu, ada susuk manusia. Ada pemuzik yang menghabiskan masa bertahun-tahun di atas pentas, di studio dan di kelab-kelab. Ada yang bermain muzik ketika masyarakat sedang menikmati zaman kegemilangan industri hiburan, dan ada pula generasi muda yang kini cuba mencari tempat dalam dunia muzik yang semakin mencabar.

Namun apabila lampu pentas dipadamkan, kehidupan mereka tidak semestinya semeriah persembahan yang disaksikan penonton. Bagi Persatuan Pemuzik Malaysia (Musicians for Musicians – MfM), inilah realiti yang perlu diberi perhatian.

Menerusi MfM Benefit Showcase 2026 – “Rocking for a Cause”, persatuan itu bukan sahaja mahu mengumpulkan dana untuk membantu pemuzik yang memerlukan, tetapi mahu mengetengahkan persoalan lebih besar: Bagaimana memastikan pemuzik Malaysia mempunyai masa depan yang lebih terjamin?

Konsert amal tahunan keempat itu akan berlangsung pada Sabtu, 10 Oktober 2026, mulai jam 4 petang di Dewan Tunku, Kelab Golf Negara Subang (KGNS), Petaling Jaya.

Bukan Sekadar Bantuan Ketika Kesusahan

Presiden MfM, Francis Danker, melihat cabaran pemuzik hari ini daripada perspektif yang lebih jauh. Menurutnya, pemuzik tidak seharusnya hanya menerima bantuan apabila mereka jatuh sakit, tidak mampu bekerja atau sudah berada dalam keadaan kewangan yang kritikal.

Mereka memerlukan pekerjaan yang berterusan.

Mereka memerlukan ruang untuk bermain muzik.

Mereka memerlukan pendapatan yang membolehkan mereka menyimpan untuk hari tua dan, yang paling penting, menjalani kehidupan dengan bermaruah.

“Kami perlu memberikan pemuzik-pemuzik ini satu talian hayat. Kami perlu memberikan mereka satu tempat yang boleh mereka harapkan,” kata Danker.

Beliau berkata ramai pemuzik, khususnya veteran dan anak muda yang baru memasuki industri, semakin sukar mendapatkan tempat persembahan secara konsisten. Lebih menyedihkan, terdapat juga pemuzik yang sudah membuat persembahan tetapi terpaksa menunggu berminggu-minggu untuk mendapatkan bayaran.

Bagi mereka yang hidup dari satu persembahan ke satu persembahan, kelewatan kecil boleh membawa kesan besar.

“Mereka ini bekerja dari hari ke hari. Mereka perlukan pendapatan kecil itu. Tetapi pendapatan itu pun mereka tidak terima,” katanya tentang masalah bayaran yang sering dihadapi oleh segelintir pemuzik. Justeru, MfM mahukan bantuan kepada pemuzik dilihat bukan hanya sebagai amal, tetapi sebagai satu bentuk pelaburan terhadap masa depan komuniti muzik negara.

Hotel Boleh Menjadi Pentas Baharu

Danker percaya satu penyelesaian yang praktikal ialah kerjasama antara kerajaan, industri pelancongan, hotel dan komuniti muzik.

Beliau mencadangkan supaya hotel dan pusat peranginan, khususnya hotel bertaraf lima bintang, menyediakan ruang persembahan secara tetap kepada pemuzik tempatan.

Bagi beliau, pendekatan itu bukan sahaja membuka peluang pekerjaan, malah boleh menjadi sebahagian daripada pengalaman budaya yang ditawarkan kepada pelancong.

Malaysia mempunyai khazanah muzik yang luas. Alat muzik seperti sape, gambus, sitar dan rebana boleh digabungkan dengan instrumen moden untuk menghasilkan persembahan yang segar tanpa kehilangan identiti tempatan.

“Kenapa kita tidak boleh memainkan muzik menggunakan sape dan menggabungkannya dengan rebana? Satukan kedua-duanya dan hasilkan sesuatu yang berbeza,” katanya.

Malah, dengan nada berseloroh, beliau bertanya:

“Siapa kata anda tidak boleh memainkan ‘Hotel California’ menggunakan sape? Tunjukkan kepada mereka!”

Di sebalik gurauan itu tersimpan satu gagasan yang serius — muzik Malaysia tidak perlu sekadar dipelihara sebagai warisan lama. Ia boleh dihidupkan semula, dikembangkan dan diperkenalkan kepada dunia dalam bentuk baharu.

Danker turut melihat lagu-lagu daripada zaman P. Ramlee hingga generasi selepasnya sebagai khazanah yang boleh disusun semula untuk pendengar masa kini.

“Mereka mahu merasai budaya kita, menikmati makanan kita, melihat hasil kraftangan kita dan mendengar muzik kita.”

Jika ruang seperti ini diwujudkan secara konsisten, pemuzik bukan sahaja mendapat peluang bekerja, malah mungkin memperoleh bentuk pekerjaan yang lebih stabil, termasuk faedah seperti caruman KWSP.

Persoalan masa depan pemuzik juga berkait rapat dengan kesinambungan generasi.

Daripada Legenda Kepada Generasi Baharu

Setiausaha Kehormat MfM, Latifah Abdullah, berkata persatuan itu mempunyai lebih 800 ahli berdaftar, daripada usia 18 tahun sehingga pemuzik dalam lingkungan 80-an. Sekitar 300 hingga 400 daripadanya merupakan ahli aktif.

Katanya, lebih ramai pemuzik muda perlu mengenali MfM kerana generasi tersebut membawa pandangan, pengalaman dan idea yang berbeza.

“Kami mahu mereka tahu bahawa kami wujud. Kami perlu diiktiraf,” katanya.

Atas semangat itulah “Rocking for a Cause” turut menjadi ruang pertemuan antara pemuzik muda dan veteran.

Tahun ini, MfM akan memberi penghormatan kepada 20 pemuzik yang telah mengabdikan antara 40 hingga 50 tahun dalam Industri musik. Ia merupakan penghargaan yang cukup bermakna kepada insan yang mungkin selama ini hanya dikenali oleh nama mereka dalam dunia muzik, tetapi jarang diraikan atas keseluruhan perjalanan hidup mereka

Malam Untuk Mengenang Mereka Yang Pernah Mencipta Sejarah

Barisan persembahan tahun ini juga sarat dengan nostalgia. Electric Orgasm bakal meraikan reunion 50 tahun, manakala Datuk Francissca Peter, Goblokes, Heavy Machine, Dato’ Leonard Tan, Lighthouse bersama Vijay David, Royston Sta Maria, Os Pombos, The Polymaths bersama Raja Singham dan The Studio 10 Experience turut akan beraksi di pentas.

Konsert ini juga memberikan penghormatan kepada nama-nama yang pernah membentuk muzik Malaysia seperti The Falcons Malaysia, Sons of Adam, Ollie daripada Heavy Machine, The Strollers dan Alleycats.

Bagi Heavy Machine, penghormatan khusus akan diberikan kepada pemain saksofon Olie, yang kini kurang sihat. Anak perempuannya dijangka membuat persembahan bersama kumpulan tersebut bagi menggantikannya. Segmen penghormatan turut mengenang pemuzik yang telah meninggal dunia, termasuk Seha dan Gani.

Tetamu Dari Jauh

Royston Sta Maria, yang akan datang dari Australia dijangka menyampaikan “Mulanya Di Sini” sebagai sebahagian daripada ‘tribute’ kepada rakan-rakan seperjuangan.

Bagi Royston, konsert itu mempunyai makna yang jauh lebih besar daripada sebuah persembahan.

“Ini merupakan sebuah konsert yang hebat, apabila pemuzik berkumpul dan menggunakan bakat mereka untuk mengumpulkan dana bagi membantu rakan-rakan pemuzik yang menghadapi kesusahan atau tidak mampu bekerja disebabkan masalah kesihatan.”

⁠Sasaran RM100,000, Tetapi Nilai Kemanusiaannya Lebih Daripada Itu

MfM menyasarkan kutipan sebanyak RM100,000 menerusi konsert tahun ini. Sumbangan itu akan digunakan untuk membantu pemuzik yang memerlukan, di samping sebahagian sumber diharapkan dapat disalurkan kepada usaha pembangunan industri muzik.

Antara pihak yang menyumbang untuk acara tersebut ialah itu ialah Weststar, yang telah memberikan sokongan selama beberapa tahun, selain KJ&S dan Memories bagi aspek produksi, bunyi dan pencahayaan.

MfM sendiri bergerak dengan semangat kesukarelawanan. Ahli jawatankuasanya terdiri daripada pemuzik — ada yang masih aktif dan ada yang telah bersara — yang meluangkan masa tanpa bayaran.

“Semua ahli jawatankuasa adalah pemuzik, dan kami semua melakukan kerja ini tanpa bayaran. Tugas kami adalah untuk melihat siapa yang boleh kami bantu,” kata Danker. Dan mungkin di situlah terletaknya jiwa sebenar “Rocking for a Cause”.

Ia bukan semata-mata tentang RM100,000.

Ia tentang seorang pemuzik yang mungkin memerlukan bantuan ketika sakit. Tentang sebuah keluarga yang kehilangan pencari rezeki. Tentang seorang veteran yang pernah menghiburkan ribuan manusia tetapi kini tidak lagi mempunyai tempat untuk bermain. Dan tentang anak muda yang mempunyai bakat, tetapi tidak tahu di mana hendak memulakan perjalanan.

Muzik telah menjadi sebahagian daripada kehidupan rakyat Malaysia selama beberapa generasi. Kini, tiba masanya masyarakat bertanya: siapa yang akan menjaga mereka yang selama ini menjaga muzik kita? Pada 10 Oktober nanti, apabila gitar dipetik, dram dipalu dan suara bergema di Dewan Tunku, yang diraikan bukan hanya lagu-lagu lama dan legenda muzik.

⁠Yang Diraikan Ialah ‘Manusia Di Sebalik Muzik’

Kerana sesebuah lagu mungkin hanya mengambil masa beberapa minit untuk dimainkan, tetapi kesannya boleh bertahan sepanjang hayat.

Dan seperti kata Danker:

“Kita mahu melakukan perkara ini untuk golongan muda. Membina satu platform untuk mereka.”

Mungkin itulah “Rocking for a Cause” yang sebenar, bukan sekadar mengumpul wang untuk hari ini, tetapi membina talian hayat supaya muzik Malaysia terus mempunyai manusia yang mampu menyambungnya esok.

BUTIRAN ACARA

MfM Benefit Showcase 2026 – Rocking for a Cause
Sabtu, 10 Oktober 2026
4.00 petang dan seterusnya
Dewan Tunku, Kelab Golf Negara Subang (KGNS), Petaling Jaya

Tiket:
•⁠ ⁠Ahli MfM: RM85
•⁠ ⁠Kemasukan umum: RM105 seorang, termasuk minuman percuma
•⁠ ⁠Meja Standard: RM1,050 untuk 10 orang
•⁠ ⁠Golden Hearts: RM3,000
•⁠ ⁠Diamond Hearts: RM5,000

The post Rocking For A Cause: Apabila Muzik Menjadi Talian Hayat Pemuzik first appeared on NMH.

It began with defeat. It may yet end with a comeback.

There was a time, not very long ago, when Barisan Nasional (BN) looked like a political relic.

GE14 in 2018 was supposed to be the end of BN as Malaysians had known it. After six decades in power, the coalition was swept out by Pakatan Harapan (PH), and the country was suddenly introduced to the intoxicating promise of a “New Malaysia”.

For many, it was supposed to be a new beginning.

For others, it became something very different.

What followed was political upheaval — governments rising and falling, defections, realignments and, after GE15, the unlikely marriage of old rivals in the Unity Government.

But beneath all the manoeuvring, something else was happening.

BN was learning how to survive.

And more importantly, it was learning how to come back.

Today, the signs are no longer subtle.

BN’s stunning performance in Johor in July — winning 48 of 56 state seats and a two-thirds majority — was more than a state election victory. It was a psychological breakthrough.

Three weeks later came Negeri Sembilan, where BN won 18 of 36 seats and returned to power after eight years, forming the state government with PN support.

Two states.

Two confidence-boosting results.

And suddenly, the conversation has changed.

BN is no longer behaving like a coalition fighting merely for survival.

It is beginning to look like one preparing for the next battle.

From “New Malaysia” to Political Fatigue

Perhaps the biggest irony of the post-GE14 story is that the forces that were supposed to bury BN may have contributed to its resurrection.

The collapse of the first PH government, the Sheraton Move and successive changes of administration left many voters exhausted.

And Malays, above all, are loyal to a fault.

For a sizeable section of the Malay electorate, 2018 meant seeing the traditional political establishment dismantled, familiar leaders prosecuted and the country plunged into prolonged political uncertainty.

Najib Razak became the most potent symbol of that rupture.

The former prime minister was convicted in the SRC International case and subsequently faced further convictions in the larger 1MDB proceedings. He remains in prison.

Yet politically, Najib has never disappeared.

For his supporters, he has become a symbol of what they regard as selective justice and political persecution.

And the pressure has not ended with Najib.

More BN-era leaders are finding themselves in court, with cases involving Tabung Haji and Felda among those drawing attention, and more cases potentially to come.

Whether these cases are viewed as accountability or political persecution, their cumulative effect within BN is difficult to ignore.

The more its leaders come under legal pressure, the more the coalition’s members appear to be closing ranks.

And that solidarity extends beyond UMNO. For the component parties, it can reinforce the sense that BN’s survival — and their own political future within it — are intertwined.

The old BN instinct of standing together may be returning.

The Unity Government’s Uncomfortable Contradiction

When BN entered the Unity Government with PH after GE15, it was widely seen as a marriage of necessity.

For Anwar Ibrahim, it provided the numbers and stability needed to govern.

For BN, it provided something equally valuable: time.

Time to regroup. Rebuild its machinery. Reconnect with voters. And remind Malaysians that BN was still there.

The irony is difficult to miss.

The coalition that was supposed to be transformed by the post-GE14 order was given the opportunity to rebuild from within it.

That does not mean BN is about to leave the Unity Government.

But politically, the distance between BN and PH increasingly looks wider than the Cabinet table suggests.

At the UMNO general assembly today, Zahid made the distinction plain: BN is in the Unity Government, but it is not the same thing as being in the “Madani Government”.

It may sound semantic.

Politically, it is anything but.

It is a reminder that BN has its own identity, its own constituency and, increasingly, its own political calculations.

Johor Changed the Mood

If one moment shifted BN’s confidence, it was Johor.

UMNO won 36 seats, MCA eight and MIC four. PH managed eight, while PN and the other parties were shut out.

The message was clear: BN could still win — and win big.

Then came Negeri Sembilan, where its return to power through an arrangement with PN reinforced the momentum.

For Zahid, the results could hardly have come at a better time.

BN’s political stock is rising, even as PH grapples with the difficult task of defending its reform credentials, managing internal contradictions and keeping a sprawling coalition together.

And then there is Najib.

The Najib Question Refuses to go Away

This week, Najib submitted a fresh application for clemency.

The Federal Territories Pardons Board met today, but his application was deferred to a future meeting.

There was no Najib pardon today.

But politically, the issue had already brought the fault line between UMNO and PH into sharp focus.

PH said those convicted of corruption and abuse of power should serve their full sentences. UMNO pushed back against what it saw as an attempt to prejudge the constitutional powers of the King.

Zahid’s position was more carefully calibrated: leave the matter to the King and the Pardons Board.

But there was little ambiguity about Najib’s emotional significance to UMNO’s grassroots.

At the assembly, Zahid spoke of expecting “good news”.

He also acknowledged another figure deeply woven into the Najib story.

When he asked Datin Seri Rosmah Mansor to stand in the Dewan Merdeka, the gesture was about more than protocol.

It was a public acknowledgement of a woman who remains deeply woven into the history and emotional landscape of UMNO’s grassroots.

For those who believe Najib was treated unfairly, her presence — and Zahid’s decision to recognise her — was significant.

It was a reminder that Najib and Rosmah remain part of the emotional memory of a significant section of UMNO, and that their story is far from over in the hearts and minds of their supporters.

The Quiet Separation

Perhaps that is where BN’s revival becomes most interesting.

There has been no dramatic announcement that BN is leaving the Unity Government.

No grand declaration of war.

No political divorce.

Instead, there appears to be something quieter: a psychological separation.

BN can remain in government while increasingly behaving like a coalition preparing for life beyond it.

Johor gave it confidence.

Negeri Sembilan reinforced it.

The Najib issue has energised its grassroots.

And every disagreement with PH provides another opportunity to remind supporters that BN is not PH.

That distinction is becoming increasingly important.

BN no longer needs to convince its supporters that it can survive.

It needs to convince them that it can win.

And that is a very different political proposition.

The Next Question: Can BN Become More Than UMNO?

For decades, BN’s strength lay in bringing different communities and political traditions under one umbrella.

UMNO was its dominant force, certainly. But MCA, MIC and the other component parties were never merely decorative. They gave BN a genuinely multi-ethnic political machine with roots in different communities.

Johor offered a glimpse of that again.

MCA doubled its representation from four seats to eight. MIC won four.

They were part of the victory.

And now another part of BN’s revival deserves attention: the emergence of a younger generation of leaders.

But this is not necessarily a generation seeking to leave the past behind.

Quite the opposite.

Many grew up during Najib’s years as prime minister. They watched his rise, his fall and his transformation into “Bossku”. For many, he remains a political role model.

His influence also has a remarkable digital dimension.

An ILHAM Centre analysis in May found Najib to be Malaysia’s most followed political figure across six major social-media platforms, with 9.35 million followers, including 4.6 million on Facebook.

For BN’s young Turks, social media is their natural political battleground — and Najib remains one of the most powerful figures occupying that space.

So “young” does not necessarily mean a break with Najib or the old BN.

It may mean something quite different: a younger generation carrying forward a political legacy they still believe in, using the tools and language of a different Malaysia.

That is the story Emma Harith will explore in Part Two — the component parties, new faces and young leaders who may determine whether BN’s resurgence lasts.

Because if BN really is rising again, the story is no longer simply about whether UMNO can regain power.

It is about whether Barisan Nasional can reinvent itself without losing the identity that made its supporters loyal to it in the first place.

For now, one thing is increasingly difficult to deny.

The coalition that was supposed to have died in 2018 is very much alive.

After Johor and Negeri Sembilan, it is no longer merely trying to survive.

It is beginning to believe it can come back.

Perhaps that is the real story of the rise — and rise — of Barisan Nasional. – NMH

The post The Rise And Rise Of Barisan Nasional first appeared on NMH.

KUALA LUMPUR, Sept 10 — Malaysian musicians need more than occasional financial assistance when they fall sick or into hardship — they need a sustainable platform that allows them to earn a living, build savings and grow old with dignity, says Musicians for Musicians (MfM) president Francis Danker.

Danker said the music fraternity had reached a point where musicians, particularly veterans and younger players entering the industry, were struggling to find regular places to perform, with many also facing delayed or non-payment for their work.

“We don’t get any help from the government. We just got to help ourselves,” he said at a press conference here today to announce MfM’s fourth annual benefit concert, “Rocking for a Cause”, which will be held on Oct 10 at Dewan Tunku, Kelab Golf Negara Subang (KGNS), Petaling Jaya.

But Danker stressed that the association’s role should not be confined to helping musicians who were already in crisis.

“We have to think of the future. We have to think of the younger people that are coming up. We cannot leave them alone,” he said.

He proposed that the Government, tourism industry and hotels work with the music fraternity to establish dedicated entertainment spaces featuring Malaysian musicians, particularly in five-star hotels and resorts.

His vision is to see modern musicians performing alongside traditional musicians, creating a distinctly Malaysian sound for both domestic audiences and international tourists.

“Why can’t we play with a sape and combine it with the rebana? Put them together and create something different,” he said.

“Every resort must have a lounge — not a bunch of Filipinos, but really local musicians. Spreading our culture.”

Danker said Malaysia already had a rich musical heritage and a wealth of traditional instruments and songs which could be reinvented for contemporary audiences.

“We have so many of our old tunes from P. Ramlee’s time until here, which we can redo and modernise. And that’s what the tourists want to see,” he said.

“They want to taste our culture, they want to eat our food, they want to see our handicraft, and they want to hear our music.”

He suggested that traditional instruments such as the sape, gambus, sitar and rebana could be combined with modern equipment and contemporary arrangements.

“Who says you cannot play ‘Hotel California’ on a sape? Show them!” he said, drawing laughter and applause from those present.

For Danker, creating regular employment is also about giving musicians a future beyond performing from one gig to another.

Everybody May Want To Be A Musician

“If all the hotels take us in and give us work, can you imagine? Everybody may want to be a musician, everybody wants to work, everybody wants to form their own kind of fusion band,” he said.

Such a platform, he added, could also provide musicians with more stable employment benefits such as EPF contributions, giving them some financial security when they grow older.

Danker, who recalled starting out in music because he had not passed his Standard Six examination, said the situation facing musicians today was markedly different from the 1970s.

“During my time, we had Filipino bands, Indonesian bands, Singapore bands. We had bands from Jamaica. And we were always working,” he said.

“You know why? Because we had more clubs than bands. Today, they are all gone. There are no more clubs.”

He said the disappearance of entertainment venues had left many talented musicians without a dependable place to work.

“It’s tough out there. These musicians are all talented people,” he said, adding that the association regularly received complaints from musicians who had performed at venues but were still waiting weeks to be paid.

“These people are working on a day-to-day basis. They need that small income. And that also they don’t get paid.”

From Helping the Old to Building A Future for the Young

MfM honorary secretary Latifah Abdullah said the association currently has more than 800 registered members, ranging from 18 to musicians in their 80s, with about 300 to 400 considered active members.

She said one of MfM’s key objectives was to make younger musicians more aware of the association and what it could offer them.

“We want them to know that we exist. We exist. We need to be recognised,” she said.

Latifah said younger musicians also brought different perspectives and ideas to the fraternity, making their participation important to the association’s future.

“We need more younger generation to come in because their perception, their ideology, everything is different,” she said.

Deputy president Edwin Nathaniel said the benefit concert was also intended to bring together different generations of musicians while recognising those who had devoted decades to the Malaysian music industry.

This year, MfM will honour 20 musicians who have spent between 40 and 50 years in the industry and are still active, with the identities to be revealed during the concert itself.

Among the performers lined up are Electric Orgasm, marking its 50-year reunion, Datuk Francissca Peter, Goblokes, Heavy Machine, Dato’ Leonard Tan, Lighthouse featuring Vijay David, Royston Sta Maria, Os Pombos, The Polymaths featuring Raja Singham and The Studio 10 Experience.

The concert will also feature tributes to legendary musicians and bands that helped shape Malaysia’s music scene.

Nathaniel said Heavy Machine would be among those receiving a special tribute, particularly to saxophonist Olie, who is unwell. His daughter is expected to perform with the band in his place.

Mulanya Di Sini

A tribute will also be paid to musicians who have passed on, including Seha and Gani, with Royston Sta Maria expected to perform “Mulanya Di Sini” as part of the tribute.

Royston, who is travelling from Australia for the event, said he was pleased to be part of a concert that uses music to support fellow musicians facing difficult circumstances.

“I think it’s a wonderful concert where musicians come together to use their talents to raise money to help their fellow musicians who have fallen on hard times or are unable to work due to their health situation.”

He also urged the media and public to support the event.

“I hope the press will give this show their full support and the public will also get their tickets soon to make this night a success and an unforgettable experience,” he said.

Target of RM100,000

Nathaniel said MfM is hoping to raise RM100,000 from this year’s benefit concert.

The association has received support from several sponsors, including Weststar, which has backed the event for several years, while KJ&S and Memories are among those providing sponsorship and support for the production, sound and lighting.

The money raised will go towards supporting musicians in need, while MfM also hopes to channel part of its resources towards developing the music industry.

“This is our goal, to raise that amount of money, but it all depends on the turnout and the last-minute corporate sponsors,” Nathaniel said.

He described MfM as a zero-based NGO, with the committee members themselves volunteering their time.

Danker said this spirit was at the heart of the association.

A Committee of Musicians

“Everyone in the committee are all musicians — still playing, retired — everybody is just doing it for nothing. Just to see who we can help.”

He said MfM had already assisted musicians facing illness and hardship, including helping families when musicians died with little or no financial resources.

But he insisted that the fraternity could not simply continue responding to crises after they occurred.

“We need to give these musicians a lifeline. We need to give them a place where they can depend on,” he said.

“We want to do this for the younger people. Set a platform for them.”

And that, perhaps, is the deeper message behind Rocking for a Cause: not merely to raise money for musicians who have fallen on hard times, but to remind Malaysians that the people who created, performed and preserved the country’s musical soundtrack also need a place in its future.

“We cannot let the young musicians think this persatuan is only for old people, old musicians,” Danker said.

“We need to do this. We have no choice.” – NMH

Event details

MfM Benefit Showcase 2026 – Rocking for a Cause
Saturday, Oct 10, 2026
4pm onwards
Dewan Tunku, Kelab Golf Negara Subang (KGNS), Petaling Jaya

Tickets include MFM member tickets at RM85, while general admission is RM105 per person, inclusive of a complimentary drink. Table packages are also available, including Standard (RM1,050 for 10 pax), Golden Hearts (RM3,000) and Diamond Hearts (RM5,000).

The post ‘We Need A Lifeline’: MFM President Calls For Hotels To Open Their Stages To Malaysian Musicians first appeared on NMH.

KUALA LUMPUR, 03 September 2026 — Impact investing does not necessarily mean accepting lower returns, with investors increasingly looking at whether environmental and social outcomes – ESGs – can translate into stronger businesses, greater market share and ultimately better financial performance.

That was one of the key messages from the “Beyond Impact & ESG: Investing for Outcomes and Returns in Southeast Asia” panel at the Malaysia Private Capital Forum 2026, where speakers discussed efforts to establish a clearer relationship between impact outcomes and investment returns.

The session, moderated by Jamie He of Lockton Companies, brought together representatives from PRI, Impact Circle, AiSED and Bintang Capital. The official programme identified the panellists as Chee Leng Hor, Melissa Ong, Zehan Teoh and Ee Rong Song.

Impact Investing: Beyond the Label

One of the speakers said the aim was to generate empirical data showing whether improved environmental performance could translate into financial value through greater brand equity, larger market share and operating-cost savings.

On the social side, greater gender diversity and stronger employee engagement were cited as factors that could improve organisational performance and, eventually, financial returns.

But the speaker was careful not to claim that the relationship had already been conclusively established.

“It’s our own experiment … I don’t have the answer,” the speaker said, adding that the objective was to try different approaches and see how they performed.

That admission was significant: the argument for impact investing was not presented as a settled formula, but as an area where investors are increasingly attempting to establish a measurable link between non-financial outcomes and financial performance.

The panellists also challenged what they described as a misconception that incorporating impact necessarily compromises returns.

Examples were cited of impact funds that had consistently ranked in the top quartile of performance, as well as a Singapore-based impact fund pursuing venture-style returns.

There was, however, recognition that the time required to demonstrate outcomes can vary significantly between sectors.

Agriculture, for example, may require a longer investment horizon than the conventional 10-year fund period before the full impact of an investment can be demonstrated.

From ESG Reporting to Measurable Outcomes

The discussion also suggested that impact investing is increasingly moving beyond the traditional ESG reporting framework.

The panellists pointed to mainstream venture capital investors beginning to identify outcomes aligned with the United Nations Sustainable Development Goals, even when environmental considerations are not the original investment thesis.

An education-technology company in Vietnam was cited as an example. Rather than measuring only the number of students enrolled, investors were looking at improvements in students’ academic performance.

That shift — from counting activities to measuring outcomes — was central to the panel’s argument.

As one speaker put it, going “beyond ESG” does not mean abandoning ESG.

It means moving past labels and reporting requirements towards outcomes that are more concrete and measurable.

The distinction between public and private markets was also raised. Listed companies operate within more standardised ESG disclosure requirements, while private capital investors have greater flexibility to develop their own methods of measuring outcomes.

ECF and P2P: From Access to Capital to Getting a Return

The next discussion turned from impact investing to a more immediate question for Malaysian businesses: what happens after companies get access to alternative capital?

The panel on “From Crowd to Capital Stack: The Next Phase of ECF and P2P in Malaysia” examined the development of equity crowdfunding and peer-to-peer financing after more than a decade of operation.

Malaysia was the first jurisdiction in the Asia-Pacific region to establish an equity crowdfunding framework, with the framework introduced in 2015, while P2P financing was regulated in 2016. The moderator noted that ECF had raised close to RM1 billion through 445 campaigns, while P2P financing had raised RM11.3 billion across 150,000 campaigns.

But the headline numbers mask a significant challenge: exits.

For ECF investors, getting into a company is only the beginning. If there is no credible route to an exit, investors ultimately cannot realise their returns.

Elain Lockman said exits remained one of the biggest challenges after a decade of ECF activity, while Goh Boon Peng said his platform had only seen its first project exit after six years.

Investor education is another concern.

Lockman pointed to competition from other investment products and said retail investors needed to better understand alternative investments, particularly at a time when investment scams were also rising.

The Money Comes With Responsibility

For issuers, the challenge is not simply raising money.

Panellists repeatedly returned to governance, reporting and accountability.

Goh said some SME founders did not initially understand their responsibilities towards investors, while Lockman stressed that money raised from investors was not simply the founders’ own money.

“It’s this hard-earned income of other people’s money that you have to give a return,” she said.

The panel argued that companies need to treat fundraising as part of their broader business strategy rather than something they turn to only when cash runs short.

For companies hoping eventually to move towards an IPO, governance, internal controls, reporting and shareholder responsibilities become even more important.

Goh described efforts by his platform to encourage issuers to participate in CEO roundtables and regular sessions on compliance, internal controls and other aspects of running a company.

Building a Capital Stack

The discussion also highlighted a more mature view of alternative financing: ECF and P2P do not necessarily have to compete with venture capital, private equity or bank financing.

Instead, different forms of capital can work together.

P2P financing, for example, can provide working capital without requiring founders to dilute their equity, while ECF can provide equity capital for longer-term growth.

Vincent Soh said P2P financing could potentially serve a much larger portion of Malaysia’s alternative-debt market, while institutional investors were increasingly participating in the space.

The panellists also highlighted growing cooperation across different parts of the capital stack.

Rather than seeing ECF, P2P, venture capital and private equity as isolated channels, participants said greater collaboration could help fill financing gaps and create a more robust funding ecosystem.

From One-Off Fundraising to the Next Round

Another emerging theme was repeat capital.

Companies that raise money through ECF need to plan beyond their first fundraising round, particularly if they intend to scale.

Goh said his platform had companies that had raised at least twice, with several raising three times, while stressing that issuers should plan for two or three fundraising rounds rather than assuming one campaign would be sufficient.

But repeated fundraising also brings another issue: valuation.

The moderator warned that a high valuation at one stage is meaningless if the company cannot sustain it. A subsequent “down round” can create significant problems for both founders and investors.

The ultimate objective, Goh suggested, should be to build towards a credible destination — potentially an IPO — with valuations and growth expectations grounded in realistic benchmarks.

Taken together, the two afternoon discussions pointed to a common theme.

Whether the investment is driven by impact outcomes or alternative financing, the industry is moving beyond simply asking whether capital can be raised.

The harder questions are becoming: What does the capital achieve? Can those outcomes be measured? Can the business grow? Can investors ultimately realise a return? And can the company become strong enough to attract the next round of capital?

For Malaysia’s evolving private-capital ecosystem, those may be the questions that matter most. – NMH

The post Beyond ESG: Impact Investing Is About Better Business, Not Lower Returns first appeared on NMH.

KUALA LUMPUR, 03 September 2026 — The Malaysia private capital landscape has an opportunity to play a greater role in accelerating the country’s economic transformation by turning emerging challenges into solutions — and, crucially, into investable opportunities, Deputy Finance Minister Liew Chin Tong said today.

Speaking at the opening of the Malaysia Private Capital Forum 2026 at Menara AFFIN @ TRX, Liew said the global economy was undergoing a fundamental shift from an era focused on efficiency towards one increasingly shaped by resilience.

Malaysia Private Capital at an Inflection Point

He described the current environment as an opportunity for Malaysia to “leapfrog” economically, while noting that the country must be prepared to tackle the challenges accompanying a changing global order.

The forum, organised by the Malaysian Private Capital Association (MPCA) under the theme “Malaysia Forward: Rewiring Capital Flows in an Ascending World”, brought together investors, fund managers, entrepreneurs, policymakers and other players in the private-capital ecosystem.

Liew’s keynote followed opening remarks by MPCA Organising Chairman Dr Chris Daniel Wong and MPCA Chairman Ng Sai Kit. The programme then moved into a series of discussions on private credit, institutional investors, venture capital, impact investing and Malaysia’s position as a regional private-capital hub.

From Efficiency to Resilience

Liew’s central argument was that the post-pandemic world is no longer organised around the same assumptions of global efficiency that dominated the previous era.

The move towards resilience, driven partly by geopolitical tensions and more fragmented global supply chains, could create openings for Malaysia.

He pointed to the country’s relatively strong economic performance as evidence of that resilience, with GDP expanding 6% in the second quarter of 2026 and first-half growth reaching 5.7%.

Among the areas contributing to growth, he highlighted Malaysia’s participation in the global artificial intelligence boom, particularly through semiconductors and data centres, alongside palm oil, oil and gas, tourism and services.

But for Liew, the opportunity is not simply to attract more investment into existing industries.

It is to move Malaysia further up the value chain.

From Trading Nation to Technology Nation

Liew said Malaysia needs to continue its transition from a trading nation towards becoming a technology nation.

That means strengthening the country’s position across the semiconductor ecosystem, including outsourced semiconductor assembly and testing (OSAT), advanced packaging, integrated circuit design and semiconductor equipment.

Malaysia’s position as a middle power could also become an advantage as geopolitical tensions increasingly divide the global technology landscape.

Liew described Malaysia as occupying an “indispensable middle” in the global technology and tax landscape, suggesting that the country could serve as a bridge between different economic and technology ecosystems.

Investment Opportunities Beyond Kuala Lumpur

Another theme in Liew’s address was the need to look beyond Kuala Lumpur when considering Malaysia’s next phase of growth.

He identified urban revitalisation as one potential investment opportunity, arguing that instead of continually expanding cities outward, Malaysia should look at rebuilding inner-city areas, repurposing vacant buildings and creating mixed-use urban spaces.

He cited the changing landscape of Kuala Lumpur itself, where the relocation of some financial institutions to newer centres such as Merdeka 118 and Tun Razak Exchange has contributed to vacant buildings in parts of the city. Rather than viewing this solely as a problem, he suggested it could create opportunities for redevelopment.

Liew also called for greater decentralisation of financial expertise.

Penang and Kulim, for example, could develop deeper financial capabilities around technology and semiconductors, while Sarawak’s economic opportunities are closely linked to energy. Johor, meanwhile, has the potential to become a hub for cross-border supply-chain integration with Singapore.

The idea is to bring capital and financial expertise closer to the industries and regions where new opportunities are emerging.

Malaysia’s ASEAN Opportunity

Liew also sees Malaysia’s existing financial infrastructure as an important advantage in the competition for regional capital.

In particular, he pointed to the country’s Islamic finance ecosystem and private-capital networks as platforms that could be leveraged to facilitate regional transactions and investments.

That would position Malaysia not merely as a domestic investment destination, but as a base from which capital can flow into the wider ASEAN market.

The emphasis on regional connectivity also echoed the broader objectives of the forum, where participants examined how Malaysia could strengthen its position within Southeast Asia’s increasingly competitive private-capital landscape.

Demographics: Challenge and Opportunity

Liew also highlighted demographic change as an area where a significant challenge could become an investment opportunity.

Malaysia remains relatively young, with a median age of around 31, but the country is simultaneously moving towards an ageing society.

He offered an unusually simple illustration of the trend: a local factory supplying Malaysia and neighbouring countries is now producing fewer baby diapers and more adult diapers.

For Liew, such changes point towards growing opportunities in healthcare, aged care and public-private investment in services for older Malaysians.

The broader point was that demographic changes should not simply be viewed as future policy burdens. They can also signal where new markets, businesses and investment opportunities will emerge.

From Challenges to Capital

Liew’s message to the private-capital community was ultimately about recognising where Malaysia’s next opportunities may lie — and having the ambition to convert them into investable propositions.

But as the forum’s subsequent sessions would demonstrate, identifying opportunities is only one part of the equation.

MPCA chairman Ng Sai Kit, in his opening remarks, stressed that global capital remains available but has become “more concentrated, more selective and more demanding.” He argued that Malaysia needs not only more deals, but stronger capital formation, credible exit pathways and the ability to return capital to investors.

That sets up perhaps the more difficult question for Malaysia’s private-capital ecosystem: can the opportunities identified today be translated into businesses that can scale, generate returns and ultimately give investors a credible route to exit?

It was a question that would run through many of the discussions that followed. – NMH

The post Malaysia Private Capital: Liew Urges Turning Economic Challenges Into Investable Opportunities first appeared on NMH.

Selama hampir tujuh tahun, Datin Seri Rosmah Mansor bukan sahaja berdepan proses mahkamah.

Beliau turut berdepan “mahkamah masyarakat” — dan di media sosial, hukuman sudah lama dijatuhkan.

Pelbagai cerita diulang sehingga menjadi “fakta” bagi ramai orang. Antaranya, dakwaan bahawa wang projek solar hibrid RM1.25 bilion itu ialah wang untuk anak-anak sekolah di pedalaman Sarawak yang akhirnya digunakan untuk kepentingan peribadi.

Tetapi hari ini, Mahkamah Rayuan membuka satu lagi ruang untuk bukti diuji.

Panel tiga hakim yang dipengerusikan Datuk Azhahari Kamal Ramli, bersama Datuk Dr Choo Kah Sing dan Datuk Muniandy a/l Kannyappan, membenarkan Rosmah mengemukakan keterangan tambahan, termasuk keterangan baharu daripada saksi pendakwaan ke-16, Rayyan Radzwill Abdullah.

Ini bukan bermakna Rosmah sudah bebas.

Mahkamah juga belum memutuskan bahawa keterangan baharu itu benar.

Tetapi mahkamah memutuskan ia cukup penting untuk didengar dan diuji.

Persoalan Yang Sejak Dulu Mengganggu

Saya mengikuti perbicaraan ini dan berada di mahkamah ketika banyak perkara berlaku.

Sejak awal, saya tertanya-tanya tentang kedudukan Rizal Mansor — yang pada mulanya didakwa bersama Rosmah sebelum menjadi saksi pendakwaan.

Saya juga tertanya-tanya mengenai persoalan asas: siapa sebenarnya melihat wang itu diserahkan kepada Rosmah?

Keterangan baharu Rayyan kini menimbulkan persoalan bahawa beliau sendiri tidak melihat Rizal menyerahkan atau mengenal pasti beg wang kepada Rosmah, dan pengetahuannya mengenai perkara itu datang daripada orang lain.

Begitu juga dakwaan bahawa arahan dan komunikasi berkaitan bayaran disampaikan melalui Rizal, bukan secara langsung daripada Rosmah.

Ini bukan bermakna dakwaan baharu itu sudah terbukti.

Tetapi bukankah persoalan-persoalan sebegini patut diuji di mahkamah, bukan dihukum di media sosial?

“Today Justice Has Been Served”

Selepas keputusan itu, peguam utama Rosmah, Datuk Amer Hamzah Arshad, berkata:

“Today justice has been served.”

Beliau juga berkata mengenai keterangan baharu itu:

“We want it to be tested.”

Dan saya rasa di situlah letaknya makna keputusan hari ini.

Rosmah belum menang.

Sabitannya belum diketepikan.

Tetapi selepas tujuh tahun, dia akhirnya mendapat peluang untuk membawa persoalan-persoalan itu kembali ke tempat yang sepatutnya.

Bukan Facebook.
Bukan TikTok.
Bukan netizen.

Mahkamah.

Dan bagi seseorang yang telah bertahun-tahun dihukum, dicaci dan dilabel oleh masyarakat, saya rasa sedikit kelegaan itu memang wajar.

Tujuh tahun dihukum. Hari ini, akhirnya didengar. – NMH

The post Rosmah Mansor: Tujuh Tahun Dihukum, Hari Ini Akhirnya Didengar first appeared on NMH.