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MTT Shipping and Logistics Bhd is looking to raise up to RM652 million through an initial public offering (IPO) on the Main Market of Bursa Malaysia, potentially marking the largest fundraising exercise in Malaysia’s transportation and logistics sector in more than a decade. MTT Shipping and Logistics Bhd executive chairman Datuk Seri Ong Kean Lee (centre) with other representatives at the group’s prospectus launch. The Malaysia-based container liner operator has opened applications for both retail and institutional investors at an IPO price of RM1.03 per share. The retail portion will close on April 3, followed by the institutional offering on April 6, ahead of its planned listing on April 21. If fully subscribed, the listing would be the biggest logistics-related IPO on Bursa Malaysia since 2013, when AirAsia X Bhd raised RM987.7 million and Westports Holdings Bhd raised RM2.03 billion. MTT Shipping is principally engaged in container liner shipping, vessel chartering, container storage and related logistics services. The group operates across key regional markets including Brunei, China, India, Indonesia, Thailand and Singapore. It also owns the largest fleet of Malaysian-flagged containerships, with an average age of 6.7 years as at Sept 1, 2025, making it the youngest fleet among local operators. Based on an enlarged issued share capital of 2.50 billion shares and the IPO price, the group is expected to command a market capitalisation of approximately RM2.6 billion upon listing. Executive chairman Datuk Seri Ong Kean Lee said the timing of the listing is aligned with evolving regional trade dynamics and continued demand for reliable shipping capacity across domestic and regional routes. The IPO will involve the issuance of 633.5 million new shares, comprising 571 million shares for institutional investors and 62.5 million shares for retail investors. There will be no offer for sale, and the listing will offer investors up to a 25.3% stake in the company. For the financial year ended Dec 31, 2024, MTT Shipping recorded a profit after tax of RM253.6 million on revenue of RM1.20 billion. About 95.7% of the IPO proceeds will be used to acquire at least 12 new container vessels as part of the group’s expansion strategy, with the balance allocated for listing-related expenses. The company has also outlined a dividend policy targeting a minimum payout of 50% of annual net profit, subject to working capital requirements and capital expenditure plans. CIMB Investment Bank Bhd has been appointed as principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter. CLSA Ltd and CLSA Securities Malaysia Sdn Bhd are acting as joint global coordinators and bookrunners, while Affin Hwang Investment Bank Bhd is serving as joint bookrunner and underwriter.

Putrajaya may need to tighten the RON95 petrol subsidy, either by reducing the current 300-litre monthly quota or raising the pump price back to RM2.05 per litre, analysts say. Both measures are being considered as realistic options if crude oil prices remain high, placing greater strain on government finances. CGS International Research (CGSI Research) noted that cutting the subsidised quota could allow the government to target support more efficiently toward lower-income households while limiting the immediate impact on the consumer price index (CPI). The research house highlighted that rising geopolitical tensions in the Middle East have pushed crude oil prices above US$100 per barrel, increasing the likelihood of renewed price pressures. Hong Leong Investment Bank Research similarly pointed out that the conflict has tilted Malaysia’s inflation risks upward. “For now, we maintain our 2026 CPI forecast at 1.7% year-on-year, but we are monitoring global energy prices and government policy responses closely. A potential RON95 price reversion to RM2.05 per litre may occur if the Middle East conflict persists,” it said. CGSI Research added that higher oil prices would first affect transport costs, with knock-on effects across other CPI segments. Their calculations suggest that every US$10 increase in average oil prices could push Malaysia’s annual CPI up by around seven basis points, assuming no policy changes. Rising fuel costs would also increase the fiscal burden of the current subsidy programme, potentially prompting a retail price adjustment or a reduction of the 300-litre allocation. Looking ahead, the research house warned of upside risks to its CPI forecast if Middle Eastern oil supply disruptions keep global prices elevated. For now, CGSI maintains its 2026 CPI projection at 1.5%, following a moderation to 1.4% y-o-y in February 2026, compared with 1.6% in January. Apex Securities Research noted that headline inflation averaged 1.5% in the first two months of 2026, below the 10-year average of 1.8%. However, rising geopolitical tensions could increase costs for logistics, utilities, and raw materials, gradually feeding into consumer prices. Fuel prices remain the main domestic risk, as RON95 accounts for 5.7% of the CPI basket. Under a scenario where Brent crude remains around US$101 per barrel and subsidised RON95 rises to RM2.40 per litre or higher, Apex said headline inflation could exceed 3%, potentially prompting a rate hike by Bank Negara Malaysia. However, the research house considers this a low-probability scenario, noting that the highest subsidised RON95 price to date was RM2.38 per litre in November 2017. “Monetary tightening may not be ideal in a cost-push environment, as it could weigh on household spending and business financing,” Apex added, suggesting that the government is unlikely to implement a sharp fuel price increase that would significantly raise living costs.

RHB Trustees Bhd has emerged as a substantial shareholder of Omesti Bhd after acquiring an 8.7% stake in the ICT company. In a Bursa Malaysia filing, the trustee disclosed that it purchased 201.92 million shares on March 18. The transaction price was not revealed. The filing noted that the shares are held on behalf of the Kenanga Islamic Absolute Return Fund, which is managed by Kenanga Investors Bhd. Although the seller was not identified, the block size closely matches shares disposed of by Kenanga Yield Enhancement Fund on March 13. Following the disposal, the fund now holds about eight million shares, representing a 0.34% stake in Omesti. Teguh Sedaya Sdn Bhd remains Omesti’s largest shareholder with a 22.57% stake. The investment vehicle is linked to Datin Seri Yasmin Hanim Arbee Mohammed Isa Arbee and Nur Atisya Mohd Yunus. Executive director Monteiro Gerard Clair is another substantial shareholder, holding a 5.384% direct stake and a 2.865% indirect interest in the company. Shares in Omesti rose 0.5 sen, or 6.7%, to close at eight sen on Tuesday, giving the company a market capitalisation of RM175.47 million.

Alam Maritim Resources Bhd’s head of global subsea business, Alvin Ch’ng Yi Ming, has become a substantial shareholder in the company after acquiring an 8.91% stake. According to a Bursa Malaysia filing, Ch’ng purchased 39.7 million shares on March 19. While the transaction value was not disclosed, the shares would be worth roughly RM10.72 million based on the closing price of 27 sen on the same day. Ch’ng’s stake follows Maybank Banking Bhd’s exit from Alam Maritim. Maybank sold its entire direct stake of 5.67 million shares (1.249%) and its indirect holding of 79.81 million shares (17.91%) through Maybank Islamic Bhd on March 19. Maybank had acquired a 19.16% stake in the company in September last year under a scheme of arrangement, paying 27.83 sen per share, or RM23.76 million in total, with warrants issued on a one-for-four basis. In a separate filing, Alam Maritim revealed that two other substantial shareholders also increased their stakes. Datuk Aloysius Albert Michael, CEO of the company’s global subsea business, raised his holding to 55.51 million shares, representing 12.436% of the company, up from 7.626%. Saujana Holdings Sdn Bhd increased its stake to 66.92 million shares, or 15.019%, from 10.65%, acquiring 19.46 million shares between March 17 and March 24. Alam Maritim’s scheme of arrangement was part of a broader plan to exit its PN17 status. The plan also included a share capital reduction, share consolidation, and a rights issue with warrants. The company entered PN17 status in 2022 after its auditor, Baker Tilly Monteiro Heng PLT, issued a disclaimer of opinion for the 18-month period ending June 30, 2022, citing a net loss of RM209.5 million, current liabilities exceeding current assets, and negative operating cash flows. Alam Maritim closed unchanged at 27 sen on Tuesday, giving it a market capitalisation of RM120 million.