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Allianz Global Investors (AllianzGI) is reportedly in exclusive negotiations to acquire the asset management business of Singapore-based United Overseas Bank Ltd (UOB), according to sources familiar with the matter. The investment manager is understood to have emerged as the leading bidder after outpacing several competing suitors, with discussions now focused on finalising the terms of a transaction that could value UOB Asset Management (UOBAM) at as much as S$600 million (US$467 million). While negotiations are said to be progressing, the sources noted that no definitive agreement has been reached and the deal remains subject to ongoing discussions. A spokesperson for AllianzGI declined to comment on the matter. UOB also refrained from commenting on the reported talks, stating only that it remains focused on creating long-term value for shareholders and meeting the needs of its customers. Reports of a potential sale follow earlier indications that UOB had been exploring strategic options for its asset management arm as part of efforts to streamline its business portfolio. Industry sources previously identified several interested parties, including Amundi SA, KKR & Co, and Seviora, an asset management group backed by Temasek Holdings. One of the key considerations in the sale process has been the extent to which UOB’s extensive distribution network across Southeast Asia would be included in any transaction, given its strategic importance in driving regional fund sales and client acquisition. Established in 1986, UOB Asset Management is a wholly owned subsidiary of UOB and manages more than S$41 billion in assets. The firm has built a regional presence with operations in Singapore, Brunei, Indonesia, Japan, Malaysia, Thailand and Vietnam. For AllianzGI, the acquisition would further strengthen its footprint in Asia and expand its access to one of Southeast Asia’s largest banking distribution networks. As of the end of March, AllianzGI managed nearly €600 billion (US$697 billion) in assets across a broad range of investment strategies, including equities, fixed income, private markets and multi-asset solutions. AllianzGI is part of Allianz SE, the German financial services group that also owns global fixed-income investment manager Pacific Investment Management Co (PIMCO).

Sapura Industrial Bhd is disposing of a 2.163-hectare parcel of vacant leasehold land in Ayer Keroh, Melaka, to Loongsen Plastics (M) Sdn Bhd for RM10.48 million as part of its efforts to unlock value from non-core assets and strengthen its financial position. In a filing with Bursa Malaysia, the automotive components manufacturer said the property carries a 99-year leasehold tenure that is set to expire on Oct 22, 2073. The land is currently occupied by a tenant and generates a monthly rental income of RM2,940. According to the company, the disposal presents an opportunity to realise the capital appreciation of the asset after holding it for approximately 25 years. Sapura Industrial noted that the land was originally acquired to support the expansion of its manufacturing operations in Melaka. However, changing business requirements and evolving operational priorities have prompted the group to reassess the strategic value of the property within its portfolio. The board said that while the site had been earmarked for future expansion, the company is now focusing on growth opportunities in locations that are closer to its existing customers and those of its subsidiaries. This shift is expected to enhance operational efficiency, improve logistics management and better support customer demand. “Having held the asset as an investment for 25 years and having considered the need for expansion of plant facilities in other areas that are in closer proximity to the company’s or its subsidiaries’ customers, the board believes that the proposed disposal is timely,” the company said. Sapura Industrial added that the transaction will enable the group to unlock the value embedded in the property and convert it into liquid funds that can be redeployed towards more productive uses. The proceeds from the disposal are expected to support the group’s operational requirements, strengthen its cash position and provide additional flexibility to pursue future expansion and investment opportunities aligned with its long-term business strategy. The company said the disposal reflects its ongoing efforts to optimise asset utilisation and focus resources on areas that offer stronger strategic and operational benefits, while continuing to support its growth ambitions in the automotive and industrial sectors.

Malakoff Corporation Bhd’s wholly owned subsidiary, Malakoff Technical Solutions Sdn Bhd (MTSSB), has signed a memorandum of understanding (MoU) with TNB Repair and Maintenance Sdn Bhd (TNB REMACO), a subsidiary of TNB Power Generation Sdn Bhd under Tenaga Nasional Bhd. The partnership aims to explore opportunities in maintenance, repair and overhaul (MRO) services for power plants, while also focusing on workforce training and competency development initiatives. According to Malakoff, the collaboration will seek to identify potential third-party MRO projects, enabling both parties to leverage their combined technical expertise and industry networks beyond their existing operations. Malakoff Group Chief Executive Officer Syahrunizam Samsudin said the partnership reflects a shared commitment to enhancing power plant reliability through effective maintenance, skilled talent and continuous improvement. “Both organisations bring decades of experience in Malaysia’s power sector. Through this collaboration, we are creating a platform to exchange knowledge, strengthen capabilities and elevate maintenance and operational standards across the industry,” he said. Syahrunizam added that MTSSB and TNB REMACO are well-positioned to jointly pursue third-party MRO opportunities, creating new growth avenues beyond their current asset portfolios. He noted that the collaboration aligns with Malakoff’s strategy to optimise the performance of its existing thermal power assets while nurturing the next generation of engineering and technical professionals. “As electricity demand continues to grow and energy security becomes increasingly important, strengthening operational reliability and workforce capability remains a key priority,” he said. Moving forward, Malakoff said it will continue to focus on enhancing operational performance across its energy and environmental solutions businesses, supported by its long-term commitment to delivering reliable energy and sustainable services.

Pictured at the signing ceremony are Keng Fai Wong, Chief Executive Officer of Crewstone International, and Piremnat Alagendran, Co-Founder and Chairman of MG Gold, alongside members from respective teams, marking Crewstone’s strategic investment in MG Gold. Crewstone International Sdn Bhd (Crewstone), a licensed and regulated private equity and private credit manager, has made an initial RM12 million investment into MG Gold and Bullions (MG Gold) as part of a broader RM50 million growth plan that goes beyond capital alone, combining funding with a clearer operating roadmap, stronger commercial discipline and the institutional build-out required to support a targeted five-year path towards an IPO. Crewstone’s investment also reflects a constructive view on gold as an asset class at a time when macroeconomic uncertainty, inflation sensitivity and reserve diversification continue to support demand for the metal globally. In 2025, total gold demand reached record levels of more than 5,000 tonnes, the gold price recorded 53 all-time highs, and the annual average price rose to US$3,431 per ounce, up 44% year-on-year.  Against that backdrop, Crewstone sees the stronger opportunities not in passive commodity exposure alone, but in backing operators that can convert that tailwind into repeatable commercial returns through disciplined execution across merchandising, distribution and inventory turnover. Beginning its business journey in 2017 and shaped by family ownership, MG Gold has grown to become a differentiated gold retail and trading platform with more than 100 Business-to-Business (B2B) customers, operating across 2 commercial hubs with 40 designers and staff. In 2025, the business generated approximately RM115 million in revenue across Malaysia and Singapore, comprising RM85 million from Malaysia and RM30 million from Singapore. In Malaysia, revenue was driven by approximately RM60 million from wholesale and trade sales, with the remaining RM25 million coming from retail. The company expects total revenue across Malaysia and Singapore to grow to RM165 million in 2026, representing a projected year-on-year growth of 43%, driven by its proven Singapore operations, wholesale expansion, retail growth and the planned launch of its digital initiatives. Underpinning that commercial momentum is a product platform shaped over time through family ownership, accumulated market knowledge and long-standing familiarity with customer demand, with more than 1,500 in-house jewellery SKUs developed to date, of which more than 500 remain active in production today. That positioning is especially relevant in a market long shaped by familiar incumbent players whose product ranges are often narrower and less responsive to current demand. That heritage has given management a closer read on what customers are actually buying, how preferences are shifting, and where conventional players are leaving demand underserved. MG Gold differentiates itself through deliberate sourcing and sharp merchandising judgement. The company sources through more than 30 suppliers, travelling to markets such as the Middle East to identify commercially validated SKUs and bring a broader, more current assortment back into Malaysia.  That model gives both trade buyers and end-customers access to greater variety than the market has typically offered, while allowing the platform to monetise demand across both direct purchase and downstream resale. The result is a platform that spans wholesale and retail across Malaysia and Singapore, with principal products such as gold bullion, gold jewellery and used gold, and a digital gold ecosystem in development. In 2025, MG Gold refined more than 75kg of gold materials and tested more than 1,000 assay samples, giving a clearer picture of throughput, product integrity and the internal capabilities required to scale responsibly. That operating base is matched by a control environment suited to a high-value inventory business, with no material incidents of theft, robbery, internal pilferage or substantiated customer privacy complaints disclosed during the period. With its proven operational foundation, MG Gold is expected to accelerate its growth through digital platforms and expand its presence in South East Asia, building on its established position in Singapore. Its digital growth roadmap will begin with the planned Q3 2026 launch of its technology-enabled digital gold platform, designed to improve customer access to physical gold through a more transparent and accessible digital experience.  This will be followed by the planned Q4 2026 launch of its direct-to-consumer gold jewellery e-commerce platform with global shipping capabilities, supporting MG Gold’s transition into a regional digital gold ecosystem spanning wholesale, retail, e-commerce and future digital gold services. “Our focus is to translate this growth plan into disciplined execution across operations, sourcing, product development, digital channels and regional expansion. With an established wholesale base, Singapore operations and upcoming digital launches, MG Gold is well positioned to strengthen customer reach and build a more scalable platform over the next phase of growth,” said Sharrvindren Alagendran, Chief Executive Officer of MG Gold. The investment highlights Crewstone’s strength in identifying where category tailwinds and operator quality intersect.  In gold, the firm sees scope for attractive returns not from commodity exposure in isolation, but from backing businesses that can capture value through sourcing judgement, inventory velocity, channel development and disciplined execution. “There is a clear commercial gap in this space. Customer choice in this category remains limited, operators with the judgement to source and commercialise winning SKUs are not easily replicated, and MG Gold is already showing that it can serve both resellers and end-buyers through the same platform,” said Keng Fai Wong, Chief Executive Officer of Crewstone International. “That gives the business a more credible growth path than a conventional single-channel jeweller, and a stronger foundation from which to scale into its next phase.” “We started MG Gold in 2017 as a small trading business, and over the years the company has grown into a broader gold platform serving wholesale, trade, retail and jewellery customers. With our Singapore operations already active, the next phase is about scaling more systematically across Southeast Asia, launching our technology-enabled digital gold platform, expanding into global digital commerce and building the foundation for a regional digital gold ecosystem. Crewstone’s support gives us the institutional backing and strategic discipline to execute this transition properly and prepare the business for long-term IPO readiness,” said Piremnat Alagendran, Co-Founder and Chairman of MG

Japan’s Yamada Holdings and Edion said they are planning a merger that could create a major consumer electronics retailer with combined sales of around US$16 billion. Both companies said their boards will meet on Friday to review the proposal, though details of the merger terms have not been disclosed. If completed, the deal would strengthen Yamada’s position as Japan’s largest electronics retailer, as the industry faces growing pressure from e-commerce competition and a declining population. Following the announcement, Edion shares jumped 11%, while Yamada rose 3.5% in Tokyo morning trading. Japanese electronics retailers are known for their large stores offering a wide range of products, including smartphones, gaming devices, home appliances, and stationery, often paired with customer reward points. According to the Nikkei newspaper, the companies are considering establishing a holding company structure, under which both brands would operate. The move is expected to improve product offerings and strengthen their private-label businesses through greater scale. However, the merger may face antitrust scrutiny, especially in western Japan, where both retailers have overlapping store networks. If successful, the deal would mark the biggest restructuring in Japan’s electronics retail industry since 2012, when Yamada Denki took control of Best Denki, and Bic Camera acquired Kojima. In the latest financial year, Yamada reported a 45% drop in net profit to 14.8 billion yen, despite sales of 1.7 trillion yen. Meanwhile, Edion posted a 9.5% rise in profit to 15.5 billion yen.

A takeover offer for Maxim Global Bhd from its managing director Tan Sri Gan Seong Liam is not fair and not reasonable, said the deal’s independent adviser. Maxim Global is worth RM656 million, or 89 sen per share, based on its revalued net asset value, sharply higher than the offer price of 24 sen per share, according to MainStreet Adviser Sdn Bhd. The offer also undervalues the property developer’s estimated net asset of 76 sen per share, the firm said. The offer is also not reasonable as Gan and his connected parties aim to maintain the listing of Maxim Global, providing an avenue for minority shareholders to sell their shares, MainStreet said. “Accordingly, we recommend that the holders reject the offer,” the adviser concluded. The mandatory takeover offer was triggered after Gan bought the equivalent of a 15.54% stake in Maxim Global from executive director Chai Chang Guan and her brother Chai Seong Min for RM27.42 million. The acquisition raised Gan’s direct interest to 37.33%. Gan and the people connected to him, including children Gan Kuok Chyuan and Gan Kuok Wei, together now own 60.37% in Maxim Global. His two children are also executive directors in the company. Minority shareholders have until June 15 to accept the offer. The offer price was already at a discount to the stock’s last levels before the takeover was launched on May 4. Maxim Global returned to the black in the financial year ended Dec 31, 2021 (FY2021). For FY2025, it posted a net profit of RM33.44 million on revenue of RM443.78 million. Shares of Maxim Global were unchanged at 26.5 sen on Thursday, valuing the company at RM195 million.