Prime Minister Anwar Ibrahim’s ruling coalition suffered a blow in Sabah’s state election, highlighting the bloc’s continued struggle to gain a foothold in East Malaysia.

UEM Group Bhd., the infrastructure arm of Malaysian sovereign wealth fund Khazanah Nasional Bhd., made a 282 million ringgit ($68 million) takeover bid to privatize its asset management subsidiary UEM Edgenta Bhd. via a selective capital reduction and repayment exercise.

Malaysian Prime Minister Anwar Ibrahim is under mounting pressure to return a bigger share of federal revenue to Sabah as he leads his coalition into state elections in Borneo, where mistrust of peninsular-based parties runs deep.

A top aide to Malaysian Prime Minister Anwar Ibrahim resigned after facing criticism for a letter that allegedly sought to influence a decision on a hospital contract, adding pressure on the premier to show he’s taking action on graft.

Malaysia’s Armed Forces Pension Fund will lower its exposure to Affin Bank Bhd. to 9% of its asset under management as it seeks to reduce holdings in strategic assets and invest the proceeds in fixed income, Defense Minister Mohamed Khaled Nordin said.

The operator of Starbucks in Malaysia says business is gradually recovering after the Gaza conflict-triggered boycotts led to store closures and steep losses.

YTL Power International is exploring building data centers and becoming a power producer in South Africa, according to local media.

Malaysia’s largest dairy producer Farm Fresh Bhd. is stepping up its expansion across Southeast Asia to grab a bigger slice of the region’s more than half a billion consumers.