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Big Caring Group Bhd, Malaysia’s largest pharmacy chain operator and backed by private equity firm Creador, has filed for an initial public offering (IPO) on the Main Market of Bursa Malaysia. According to its draft prospectus posted on the Securities Commission website on Thursday, the group plans to use IPO proceeds to cut debt from recent acquisitions and to finance a new automated distribution centre. The company operates the BIG Pharmacy and CARiNG Pharmacy chains and is led by husband-and-wife founders Lee Meng Chuan (group managing director and CEO) and Lim Sin Yin (executive director). Both are trained pharmacists who opened their first store in Damansara Uptown in 2006. Since then, the group has grown rapidly through organic expansion and strategic acquisitions, including the mergers with RedCap Pharmacy (2018), My Pharmacy (2019), and the acquisition of CARiNG Pharmacy from 7-Eleven Malaysia (2023). Tackling a RM1.3 Billion Debt As of 31 January 2026, Big Caring Group’s borrowings stood at RM1.3 billion, with an average interest cost of 5.2% per annum (as of 30 June 2025). The majority of this debt is a RM831.3 million term loan, used primarily for the RM888.33 million acquisition of Caring Pharmacy Group and the RM249.4 million purchase of an 89.3% stake in Medispec (M) Sdn Bhd, a pharmaceutical distributor. The company also invested RM32.8 million for a 57.1% stake in physiotherapy chain Your Physio Sdn Bhd. The IPO proceeds are expected to reduce revolving credit and term loan facilities, generate interest savings, and strengthen the company’s balance sheet for future growth. Expansion Plans Big Caring Group currently operates 626 outlets across several brands, including BIG Pharmacy, CARiNG Pharmacy, Georgetown Pharmacy, Wellings, and Ting Pharmacy. It aims to open 40–50 new outlets annually over the next three to five years. A new automated distribution centre will support this growth, replacing the existing Bukit Raja facility, which is currently running at 61% capacity and is projected to reach full capacity within five years. The new facility will feature advanced automation for inbound handling and pallet storage. IPO Structure and Shareholding The IPO will include an institutional offering of 1.614 billion shares and a retail offering of 267.64 million shares, with pricing to be announced later. Up to 25.5% of the enlarged share base will be offered, including 17.5% from selling shareholders. Creador, via its special purpose vehicle Iris Pallida Sdn Bhd (IPSB), will reduce its stake from 33.7% to 19.4%, while the founders’ indirect stake will fall from 42.9% to 34.4%. Their direct holdings will also be slightly diluted. Financial Performance For the financial year ended 30 June 2025, Big Caring Group posted a net profit of RM143.02 million on revenue of RM3.41 billion, with same-store sales growth of 9.6%, up from 7.3% in FY2024. The IPO is being managed by Maybank Investment Bank and RHB Investment Bank as joint principal advisers, joint global coordinators, and joint bookrunners. AmInvestment Bank and UBS are also involved as co-managers and underwriters.

Shareholders of UEM Edgenta Bhd have approved the proposed selective capital reduction and repayment (SCR) exercise, clearing the way for UEM Group to take the company private and increase its ownership to 100%. In a statement, UEM Group said the SCR will become effective upon the lodgement of the sealed order from the High Court of Malaya with the Companies Commission of Malaysia. Following this, UEM Edgenta is expected to be delisted from the Main Market of Bursa Malaysia in early July 2026. Under the exercise, UEM Group, which currently holds 69.14% of UEM Edgenta, will acquire the remaining 30.86% stake, equivalent to about 257 million shares, at RM1.10 per share. The transaction will involve a total cash repayment of approximately RM282 million. UEM Group said that once it becomes the sole shareholder, it plans to work closely with UEM Edgenta to refine strategic direction, pursue key initiatives and manage the group’s diversified businesses more effectively. The privatisation is also expected to provide greater flexibility for long-term planning and operational decision-making. At the extraordinary general meeting, disinterested shareholders holding 97.09% of the total value of disinterested shares voted in favour of the resolution. Votes against the proposal stood at 1.33%, below the 10% threshold required to block the exercise, allowing the resolution to pass. UEM Group, a wholly owned subsidiary of Khazanah Nasional Bhd, had first informed the board of UEM Edgenta in November last year of its intention to privatise the company via the SCR mechanism.

The proposed privatisation of DKSH Holdings (M) Bhd (DKSH Malaysia) through a selective capital reduction (SCR) has been aborted after shareholders voted against the plan at an extraordinary general meeting (EGM). In December 2025, DKSH Holding Ltd, via its wholly owned subsidiary DKSH Resources (M) Sdn Bhd, had offered to acquire the remaining 25.7% stake it does not already own, with the intention of delisting DKSH Malaysia from Bursa Malaysia. In a filing with Bursa Malaysia, the company said the special resolution required to proceed with the SCR did not receive sufficient shareholder support at the EGM. Poll results showed that 66.23% of shareholders by number and 87.47% by value voted against the resolution. Additionally, 38.8% of votes attached to shares held by disinterested shareholders were cast against the proposal, exceeding the threshold required to block the resolution. As a result, the special resolution was not passed and the proposed privatisation will not proceed.

Malaysian insurtech PolicyStreet has raised US$21 million (RM85 million) in the first close of its Series C funding round, following a profitable FY2025 in which the company reported over US$1 million in profit. The first close was led by Cool Japan Fund, alongside existing investors Altara Ventures and Gobi Partners, among others. With this round, PolicyStreet is now backed by two sovereign wealth funds, having previously secured funding from Khazanah in a US$15.3 million Series B round in 2023. The fresh capital will support PolicyStreet’s next growth phase, including regional expansion, strengthening technology infrastructure, and deepening partnerships across Asia. Yen Ming Lee, Co-Founder and CEO of PolicyStreet, said:“With Cool Japan Fund joining this round, being backed by two sovereign wealth funds validates our business model and the long-term potential of insurtech in Asia. This milestone reflects our progress in building a sustainable, profitable business, and underscores the growing role of embedded insurance in the region’s digital economy. As we scale, our focus remains on strengthening technology and expanding partnerships to drive long-term growth.” Since its previous fundraising in 2023, PolicyStreet has grown its customer base from 5 million to over 10 million, while its total sum insured rose from US$6 billion to more than US$10 billion. The company has also expanded regionally through partnerships across sectors such as gig work, mobility, travel, logistics, and telecommunications. PolicyStreet continues to engage with additional investors as its Series C round progresses.