13/03/2026

BIZ & FINANCE FRIDAY | MAR 13, 2026

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Malaysian Paper

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Wholesale, retail trade sales rise to RM159.8b in January

SC charges former SCIB managing director cum CEO with furnishing false statement PETALING JAYA: The Securities Commission Malaysia (SC) has charged the former group managing director and CEO of Sarawak Conso lidated Industries Bhd (SCIB), Rosland Othman, at the Kuala Lumpur Sessions Court with furnishing a false statement to Bursa Malaysia. Rosland faces one charge under Section 369(b)(B) of the Capital Markets and Services Act 2007 (CMSA) for causing the furnishing of SCIB’s interim financial report on conso lidated results for the quarter ended June 30, 2021, which contained a revenue figure of RM852.8 million to Bursa Malaysia on Sept 30, 2021. According to the charge, Rosland is deemed to have committed the offence under Section 367(1) of the CMSA in his capacity as director of SCIB at the material time. Rosland claimed trial to the charge and Sessions Court judge Azrul Darus granted Rosland bail of RM500,000 with one local surety. He was ordered by the court to surrender his passport and report to the SC’s investigating officer monthly until the completion of the trial as additional bail conditions. If convicted, Rosland could face imprisonment for a term not exceeding 10 years and also be liable to a fine not exceeding RM3 million. Separately, the SC secured a warrant of arrest against former SCIB chairman and non-executive and non independent director Datuk Dr Mohd Abdul Karim Abdullah. Karim was previously charged with a similar offence by the SC in 2021 for false information in the financial statements of Serba Dinamik Holdings Bhd. The matter was, however, resolved via a compound following the public prosecutor’s decision to accept Karim’s representation, under which he was imposed a compound of RM3 million. Karim, who is currently at large, is wanted for the same offence under Section 369(b)(B) of the CMSA. The public prosecutor has also granted consent to criminal To support the minimum fund raising target, executive director Tay Ben Seng will subscribe to additional shares not taken up by other shareholders, ensuring subscription proceeds of at least RM5.1 million. The remaining RM3.8 million will be covered through an underwriting arrangement, as noted in the Bursa Malaysia filing. Bursa Malaysia has approved the share consolidation, as well as the listing and quotation of the rights shares, Warrants C, and any new shares that may arise from the exercise of the warrants. Shareholders will vote on the proposals at an extraordinary general meeting scheduled for April 7.

capital, RM2 million for capital expenditure and RM1.15 million for proposal-related expenses. The group intends to allocate RM15 million for future business expansion, RM6 million for capital expenditure, RM1 million for software and system upgrades, and about RM6.52 million for working capital. SaudiGold said the fundraising will enable the group to secure the necessary capital without incurring additional borrowing costs. The inclusion of free warrants is also intended to enhance the attractiveness of the rights issue and give shareholders an opportunity to further participate in the company’s equity at a predetermined price. tea, cocoa and other beverages,” Mohd Uzir said. The motor vehicles sub-sector’s strong performance was driven mainly by motor vehicle sales, which reached RM9 billion, a 25.9% y-o-y increase. “The strong performance was partly supported by year-opening promotional campaigns by auto motive dealers and increased consumer demand ahead of the festive season, which traditionally encourages higher vehicle purchases and replacement demand. “This performance is consistent with data from the Malaysian Auto motive Association, which reported 64,298 vehicles sold, while the Road Transport Department Malaysia recorded 67,995 vehicle registrations during the month,” Mohd Uzir said. He added that other groups contributing to the expansion of the sub-sector included sales, main tenance and repair of motorcycles (32.7%); sales of motor vehicle parts and accessories (6.2%); as well as maintenance and repair of motor vehicles (9.3%), reflecting continued demand for vehicle servicing and aftermarket components. Meanwhile, online retail sales continued to grow in January, rising 5.9% y-o-y compared with 8.9% recorded in the previous month. Digital payment activities main tained strong momentum, with e money transactions surging 55.4% year-on-year to RM30.3 billion, while real-time retail payment platform transactions amounted to RM359 billion, recording growth of 23.5%. Financial process exchange transactions expanded 32.6% to RM51.2 billion, while credit and debit card transactions were recorded at RM20.7 billion and RM14.6 billion, respectively. In terms of the volume index, wholesale and retail trade recorded a 5.8% year-on-year increase, driven mainly by the motor vehicles sub sector, which grew 15.9%. However, on a seasonally adjusted basis, the volume index declined by 2.4% month-on-month. – Bernama

materials and hardware, household furniture, as well as household utensils and crockery. Mohd Uzir said wholesale trade maintained steady performance during the month, with the wholesale of household goods expanding by 9.4% to RM15.2 billion. “This increase was mainly attributed to stronger sales of perfumeries, cosmetics, soap and toiletries, stationery, books, magazines and newspapers, as well as jewellery.” Other specialised wholesale activities recorded growth of 4.3% to RM25.7 billion, supported by higher demand for construction materials, fertilisers and agrochemical pro ducts, as well as timber and related products. “Growth was also underpinned by the wholesale of food, beverages and tobacco, which recorded a 5.8% increase, driven by higher sales of rice, other grains, flour and sugars, fish and other seafood, and coffee,

growth of 17.3%. Mohd Uzir said retail trade growth was largely driven by higher sales in non-specialised stores, which rose 7.9% to RM27.5 billion, supported by stronger demand at provision stores, department stores and supermarkets. “The overall improvement in retail activity was mainly attributed to the school holidays, New Year celebrations, the disbursement of Bantuan Awal Persekolahan , as well as early preparations for the Chinese New Year festivities.” Retail sales in specialised stores expanded 5.4% to RM14.7 billion, supported by stronger demand for pharmaceuticals, medical and ortho-paedic goods as well as jewellery. Retail sales of automotive fuels increased 7% to RM6.5 billion, while sales of household equipment rose 3.3% to RM7.8 billion, driven by higher purchases of construction

KUALA LUMPUR: Malaysia’s wholesale and retail trade sales rose 7.3% year-on-year (y-o-y) to RM159.8 billion in January 2026, according to the Department of Statistics Malaysia. In a statement yesterday, Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said retail trade recorded total sales of RM70.2 billion in January, an increase of RM4.1 billion, representing a 6.1% y-o-y growth. Meanwhile, wholesale trade posted sales of RM70.8 billion, rising by RM4 billion or 6% y-o-y. The motor vehicles sub-sector continued to demonstrate notable expansion, registering total sales of RM18.8 billion, an increase of RM2.8 billion, translating into a y-o-y o Increase of 7.3% year-on-year

prosecution against Karim for his involvement in causing SCIB to furnish a false statement to Bursa Malaysia. SaudiGold proposes share consolidation, rights issue with warrants Rretail trade growth was largely driven by higher sales in non-specialised stores, supported by stronger demand at provision stores, department stores and supermarkets. – BERNAMAPIC

PETALING JAYA: SaudiGold Group Bhd has proposed to undertake a share consolidation exercise alongside a renounceable rights issue with free warrants to strengthen its capital structure and raise funds for expansion, capital expenditure and working capital. According to a filing with Bursa Malaysia, the group plans to consolidate every 10 existing shares into one consolidated share. Based on the company’s issued share capital of RM179.46 million, comprising 1.56 billion shares as at Feb 25, 2026, the exercise would reduce the number of shares in circulation to about 156.16 million, excluding treasury shares. In the filing, SaudiGold said the

shares subscribed. The indicative issue price has been set at 9.5 sen per rights share, although the final price and the exercise price of the warrants will be determined later by the board prior to the entitlement date. The group indicated that both prices are expected to be set at a discount of between 8% and 27% to the theoretical ex-all price of the shares. Based on the indicative price, the rights issue is expected to raise a minimum of about RM8.9 million and up to RM29.67 million, depending on the level of subscription. SaudiGold Group will allocate about RM5.75 million for working

consolidation is aimed at improving its share capital structure and po tentially stabilising its share price. “With the stock currently trading at a relatively low level, even small price movements could translate into large percentage swings. The consolidation would reduce the number of shares in the market and may help moderate such volatility,“ the group said in the filing. Following the consolidation, the company intends to undertake a renounceable rights issue of up to 312.33 million shares together with up to 156.16 free detachable Warrants C. The rights shares will be offered on a two-for-one basis for every one consolidated share held, with one warrant attached to every two rights