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KUALA LUMPUR, Express Powerr Solutions (M) Bhd, a generator rental services provider, is set to debut on the ACE Market of Bursa Malaysia on Sept 24, 2025, with plans to raise RM36 million from its initial public offering (IPO). Priced at 20 sen per share, the listing will give the company a market capitalisation of RM186.9 million, based on its enlarged issued share capital of 934.4 million shares. From left: Express Powerr Solutions (M) Bhd non-independent executive director Rosli Jonid, Express Powerr managing director Lim Cheng Ten, Express Powerr independent non-executive chairman Datuk Mohd Redza Shah Abdul Wahid, Mercury Securities Sdn Bhd director Jamieson Chew Yen Loong and Mercury Securities head of corporate finance Eric Chong Soo Keng. Managing director Lim Cheng Ten said the funds raised will be used to expand the company’s generator fleet by at least 36 units and acquire medium- and high-voltage equipment to support growth over the next three years. He added that while Tenaga Nasional Bhd remains the company’s largest revenue source, its contribution has fallen to 60% in 2024 from 95% previously. With 27 oil and gas projects worth RM4.46 billion approved in the first nine months of 2024, Express Powerr expects stronger demand for generator sets in exploration and drilling activities. To reward investors, the company has introduced a dividend policy of distributing 30% to 50% of net profit. Lim noted that while Express Powerr has ventured into solar, it remains at an early stage and is not a near-term focus. The IPO will comprise 180 million new shares, representing 19.3% of the enlarged share capital, along with an offer for sale of 65.4 million existing shares.

KUALA LUMPUR, Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat) has signed a Memorandum of Understanding (MoU) with PT Bathi Rakyat Abadi to expand Shariah-compliant financial solutions—particularly Ar-Rahnu (Islamic pawn broking)—and to support the growth of halal-based businesses in Indonesia. Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick said the partnership reflects the shared commitment of Malaysia and Indonesia to empower communities, enhance financial inclusion, and strengthen the cooperative movement across borders. “This collaboration is a meaningful step towards building inclusive financial systems that encourage responsible development and create opportunities for communities in both nations,” he said. Bank Rakyat chairman Datuk Mohd Irwan Mohd Mubarak said the alliance highlights the bank’s ambition to expand internationally and reinforce its role in cooperative finance. “This partnership opens up significant opportunities, especially in Ar-Rahnu services. Bank Rakyat will share its expertise in Shariah-compliant operations while supporting the halal business sector in Indonesia,” he said, adding that the bank remains committed to strengthening its regional presence and promoting sustainable solutions that uplift communities and enterprises alike.

SINGAPORE, China International Capital Corp (CICC) and China Galaxy Securities, two state-backed investment banks, plan to launch investment funds worth over $1 billion in Southeast Asia as part of a push to tap the region’s fast-growing market and reduce risks from U.S. tariff tensions. The move marks a shift for the banks, which usually focus on China’s domestic market. It also aligns with Beijing’s call for financial institutions to expand overseas investments and strengthen regional economic ties. Units of CICC and China Galaxy are expected to roll out the funds within the next 12 to 18 months, according to company executives and sources. “As Chinese companies adopt the ‘China plus N’ strategy to diversify supply chains and operations outside China, they need strong local partners in Southeast Asia,” said Carol Fong, CEO of CGS International, a China Galaxy subsidiary. “This regional knowledge will support expansion in supply chain, distribution, and other industries.” CICC Capital, the private equity arm of CICC, is also working with Malaysia Digital Economy Corp to launch a $100 million fund focused on Malaysia’s gaming industry, according to an official from Malaysia’s digital ministry. Meanwhile, CGS International is partnering with Fullgoal Asset Management Hong Kong and Bursa Malaysia to simplify the listing of foreign ETFs in Malaysia, particularly those linked to Chinese assets. The first listings could take place within 12–18 months, pending regulatory approval. China remains Southeast Asia’s largest trading partner, with two-way trade rising 12% to $982 billion in 2024, official data shows.

HONG KONG, Shein has long been seen as a master of reinvention. In 2022, the fast-fashion giant shifted its headquarters and key trademarks from China to Singapore in a bid to appear more global. The move initially paid off, with booming U.S. and international sales propelling its valuation to $100 billion — ahead of rivals such as H&M. Yet, the retailer’s repeatedly delayed initial public offering and mounting setbacks highlight the limits of such makeovers. Executive Chairman Donald Tang first aimed to take Shein public in New York in 2022, but U.S. lawmakers raised concerns over its supply chain practices in China. The company has maintained it enforces a strict zero-tolerance policy against forced and child labour. A subsequent listing attempt in London also collapsed after failing to secure approval from the China Securities Regulatory Commission, which requires companies with substantial ties to China to obtain clearance before going public. Shein’s third effort, this time in Hong Kong, now appears shaky. Bloomberg reported this week that the company has been exploring the creation of a mainland parent entity to strengthen its case — a move that would effectively restore its Chinese identity. While the reasons behind Beijing’s hesitation remain unclear, paying local taxes could help sway regulators. The drawn-out listing saga has proven costly. More urgent challenges loom: in its largest markets, the U.S. has ended duty-free treatment for shipments under $800, while Europe is introducing a €2 levy on low-value e-commerce packages. At the same time, intensifying competition from Temu — owned by $169 billion PDD — is pressuring margins. Financially, Shein is also under strain. The Financial Times reported earlier this year that net profit in 2024 fell nearly 40% to $1 billion, despite revenue growing by 20%. Investors, eager for liquidity, have since pushed the company to accept a sharply reduced valuation, with Bloomberg citing figures as low as $30 billion. Shein’s struggles carry a broader warning for other Chinese firms attempting global reinventions. PDD, listed in New York but incorporated in the Cayman Islands, shifted its headquarters to Ireland in 2023, while ByteDance spreads operations across Singapore and California. Shein’s experience shows that corporate reshuffling has limits — and can even backfire.