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Frozen food processor and trader PT Resources Holdings Bhd is strengthening its push into the China market through a new strategic collaboration with the Export-Import Bank of Malaysia Bhd (Exim Bank), aimed at supporting the group’s overseas expansion and enhancing its international trade capabilities. In a filing with Bursa Malaysia, PT Resources said it has entered into a memorandum of understanding (MOU) with Exim Bank that outlines areas of cooperation in trade financing, export facilitation, and strategic support for its overseas ventures. These include its ongoing coconut processing operations in Fuqing City, Fujian Province, a key initiative under the group’s expansion plan in China. “The MOU serves as a framework for collaboration to strengthen PT Resources’ trade and export operations while enhancing its ability to expand into new and emerging markets,” the group said. “Through this partnership, we aim to build a more resilient and efficient supply chain network that supports our long-term vision of becoming a regional leader in sustainable food solutions.” The collaboration, valid for two years from the signing date, may be extended upon mutual agreement between both parties. PT Resources added that while the MOU does not create any immediate legal obligations, it marks an important step toward forming formal agreements that will underpin future trade and financing activities. Exim Bank, a government-owned development financial institution, focuses on facilitating Malaysia’s international trade through credit facilities, export insurance, takaful, and guarantee services — particularly targeting non-traditional and emerging markets. Its partnership with PT Resources underscores Malaysia’s commitment to promoting local businesses’ global competitiveness, especially within the halal and agri-food sectors. The MOU exchange took place during the Malaysia International Halal Showcase (MIHAS) Shanghai 2025, held alongside the China International Import Expo (CIIE) in Shanghai, China. The signing ceremony was witnessed by Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, underscoring government support for Malaysian companies expanding abroad. PT Resources said the collaboration aligns with its strategic goal of growing its presence in China — one of the world’s largest markets for frozen and processed food — while exploring new opportunities in regional halal food exports. Shares in PT Resources closed one sen or 3.23% lower at 30 sen on Thursday, valuing the group at RM160.51 million. Year to date, the stock has fallen more than 30%, amid broader market volatility and higher operational costs in the food processing sector.

Oil and gas services and equipment provider, Steel Hawk Berhad (stock code: 0320) and its subsidiaries (“Steel Hawk” or the “Group”) is optimistic about its prospects beyond the oil and gas sector after securing shareholders’ approval at an Extraordinary General Meeting (“EGM”) held today for its diversification into the Expanded Engineering, Procurement, Construction and Commissioning (“Expanded EPCC”) Segment (“Proposed Diversification”). The Proposed Diversification represents a strategic expansion of Steel Hawk’s existing business into the Expanded EPCC Segment, enabling the Group to leverage on its engineering and project delivery strengths beyond the oil and gas (“O&G”) sector. This positions the Group to capture opportunities in high-potential sectors, including amongst others, utilities and power, industrial manufacturing, healthcare, defence, telecommunications, and large-scale commercial projects. With shareholders’ approval secured, Steel Hawk is poised to broaden its earnings base, reduce reliance on the O&G sector, and build a more resilient business model that will sustain long-term growth and capture new opportunities in Malaysia’s expanding infrastructure and energy development landscape. Malaysia’s utilities and infrastructure sectors are experiencing robust growth, supported by sustained energy demand, large-scale renewable initiatives such as the upcoming LSS 6 solar programme, which is projected to generate around RM18 billion in EPCC opportunities for industry players, and the rapid development of data centres across the country. This positive industry outlook reinforces Steel Hawk’s decision to expand into the Expanded EPCC Segment, positioning the Group to participate in the next wave of energy, infrastructure, and digital development projects nationwide. Commenting on the outcome, Dato’ Sharman K. Michael, Deputy Chairman and Executive Director of Steel Hawk, said “With today’s approvals, the Group is well-positioned to leverage its core engineering strengths to capture opportunities in sectors driven by ongoing infrastructure and energy development. Diversifying into areas such as utilities and power, transportation, and public infrastructure will not only broaden our revenue base but also enhance long-term business resilience.” Steel Hawk’s diversification will be anchored by its first venture outside the O&G segment, a Collaboration Agreement with Ibrahim & Sons Engineering Sdn Bhd (“IBSE”) to jointly undertake subcontract works for TNB involving the installation, testing and commissioning of 11kV and 33kV underground aluminium cross-linked polyethylene (“XLPE”) power cables and accessories, with a combined contract value of approximately RM92.66 million. In addition, the Group has secured eight contracts from Sega Elektrik Sdn. Bhd. (“Sega”), as subcontractor for the installation, testing and commissioning of 415 voltage or below underground cables, overhead system, jointing & termination and accessories for TNB’s asset development distribution network. These contracts, cumulatively valued at RM61.0 million, have commenced on 23 October 2025 and will run for one year. Riding on this strong momentum, the Group is expanding its reach by actively engaging with multinational corporations (“MNCs”), government-linked companies (“GLCs”) and government-linked investment companies (“GLICs”) across various sectors to register as a potential vendor and/or contractor. These efforts are expected to create a robust project pipeline that will accelerate the growth of the Expanded EPCC Segment and position it as a significant revenue contributor. “The Board believes these developments will enhance Steel Hawk’s earnings visibility and reinforce our position as a reliable engineering partner in Malaysia’s conventional energy, and infrastructure sectors. This diversification lays the groundwork for sustainable value creation and long-term shareholder returns as we expand into new markets,” he concluded. In addition, shareholders approved the proposed variation in the utilisation of proceeds from the Initial Public Offering (“IPO”), which involves reallocating RM7.0 million, initially designated for the construction of the Proposed Teluk Kalung Facility 2, towards the Group’s working capital. This strategic reallocation will enhance Steel Hawk’s liquidity and flexibility to fund ongoing and recently secured projects, including the Remote Operations and Splash Zone contracts for PETRONAS Carigali Sdn Bhd, the scaffolding services project for EPOMS Sdn Bhd, the construction & modification works for Petroliam Nasional Berhad (“PETRONAS”) and 27 of its downstream operating plant units, and the TNB subcontract works under the IBSE collaboration. Shareholders also approved a proposed special issue of up to 70,000,000 new ordinary shares in Steel Hawk to be placed with Bumiputera investors to be identified and approved by the Ministry of Investment, Trade and Industry (“MITI”). This represents approximately 12.50% of the enlarged share capital of the Group. The proposed special issue aims to raise funds for the repayment of bank borrowings, general working capital, and defrayment of estimated expenses associated with the issuance. This will also enable the Group to comply with the Bumiputera Equity Condition imposed by MITI in conjunction with Steel Hawk’s listing on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). Under this condition, the Group is required to allocate at least 12.50% of its enlarged issued share capital to Bumiputera investors approved by MITI within one year after achieving the profit requirements for listing on the Main Market of Bursa Securities, or within five years after its ACE Market listing, whichever is earlier.

Merchantrade Asia Sdn. Bhd. a leading provider of money services and digital financial solutions, today announced its entry into the Automated Teller Machine (ATM) business with the ongoing strategic enablement of over 1,000 cash access points across Malaysia following a recent approval from regulators to operate as an ATM acquirer. This massive expansion is underpinned by its long-standing partnership with Visa and security services, Safeguards. This venture is a direct move to expand cash access where conventional financial services are lacking, especially in rural and underserved markets. The new infrastructure is projected to at once improve cash access for millions, including Malaysia’s population of migrant workers and various local communities. Merchantrade’s ATM coverage follows a two-pronged strategy. The first is the Visa Sponsor BIN, where Merchantrade provides crucial sponsorship for Safeguards’ 1,000-plus ATMs nationwide, enabling them to accept Visa-enabled cards and immediately allowing Visa customers, travelers, credit, debit, and prepaid card holders, to perform cash withdrawals. The second is the Brown Label ATM Model. Merchantrade is the first operator in the country to adopt this approach which leverages Safeguards’ existing infrastructure, including MEPS functionality, enhanced with the Merchantrade brand and Visa platform. Currently Merchantrade has deployed more than 12 machines under this brown label at its own branches and targets to roll out over 200 machines, which is expected to significantly increase the company’s brand presence throughout the country. Merchantrade’s own branded ATMs allow for both withdrawals and crucial cash deposits using MEPS and accepts all Visa enabled cards, including its flagship Merchantrade Money prepaid Visa card. A feature which is often unavailable at non-bank ATMs, providing convenience for traders and small businesses who frequently need to manage daily cash earnings for which the company targets for the machines to be placed at any premises such as grocery shops, factory areas, communal spaces, etc. Ramasamy K. Veeran, Founder & Managing Director, Merchantrade Asia, remarked, “The extensive reach and new facilities this network brings are critical for our customers. By embracing this two-pronged strategy, we are not just installing machines; we are expanding the financial landscape. This makes it easier for individuals, like foreign workers and small businesses, to access funds, deposit cash securely, and manage their finances where they live, work and do business. This significant investment solidifies our commitment to financial services in Malaysia.” Previn Pillay, Country Manager, Visa Malaysia, adds, “We’re proud to build on our partnership with Merchantrade, in collaboration with Safeguards, to broaden the availability of secure, convenient cash access for Visa cardholders across Malaysia. While digital payments are growing, ATMs often represent a first touchpoint with digital payments for many consumers — particularly in rural and underserved areas. By making cash withdrawals more accessible, we’re supporting financial inclusion for workers, small businesses and local communities, helping ensure that everyone has reliable access to the funds they need — delivered on the strength and reliability of the Visa network.” Darmendran Kunaretnam, Group CEO, Safeguards Corporation, remarked, “Entering collaboration with Merchantrade came in as the most important juncture, as the Merchantrade brand is most widely accepted within the underserved community, especially migrant workers. Merchantrade’s branded ATM machines and Visa Sponsor will be able to expand our presence as a non-bank ATM operator.” This strategic ATM rollout firmly establishes Merchantrade as a key non-bank provider in the country’s financial ecosystem, dedicated to ensuring that reliable cash access and integrated card services are within reach for all.