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Investment & Market Trends

MMC Port Seeks Bidders For Possible Stake Sale

MMC Port Holdings Sdn Bhd, controlled by Malaysian tycoon Tan Sri Syed Mokhtar Al-Bukhary, is reportedly exploring a potential minority stake sale after postponing its planned initial public offering (IPO) last year. According to sources familiar with the matter, Malaysia’s largest port operator has approached several Asian companies and infrastructure-focused funds to assess early interest in a possible deal. Sources said Syed Mokhtar may seek a valuation of more than US$10 billion (RM40.17 billion) for the entire business. However, discussions are still ongoing, and no final decision has been made regarding the transaction. MMC Port declined to comment on the matter. The company operates seven ports along the Strait of Malacca, one of the world’s busiest shipping routes, as well as three cruise terminals. In October last year, MMC Port postponed what could have been Malaysia’s largest IPO since 2012. Earlier, Global Infrastructure Partners (GIP) — now part of BlackRock Inc — had also shelved plans to acquire up to 49% of the company.

Investment & Market Trends

Steven Sim: RM50 Mil To Help 200 SMEs List On Bursa

The government has allocated RM50 million under the PKS@BURSA Programme to support 200 high-potential small and medium enterprises (SMEs) in pursuing listings on Bursa Malaysia by 2030. Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong said the initiative, led by SME Corp Malaysia, is aimed at strengthening the pipeline of businesses prepared for future public listings. Through the programme, eligible SMEs can apply for financing of between RM2 million and RM5 million under the SME Listing Fund, with a profit rate capped at 5% for up to five years. Participating companies may also qualify for a rebate of up to 20% if they successfully list on Bursa Malaysia within five years, helping to reduce listing-related costs and encourage greater participation in the capital market. Speaking to the media after launching PKS@BURSA and officiating the “Road to IPO” event on Thursday, Sim said the funding can be used for working capital, corporate financing, and expenses linked to IPO preparations. He noted that the programme addresses two key challenges commonly faced by growing businesses — high listing costs and the operational capacity required to enter the capital market. According to Sim, the initiative provides a clearer pathway for SMEs with strong growth potential to expand operations and gain access to financing through Bursa Malaysia. He added that PKS@BURSA aligns with the goals of the 13th Malaysia Plan, which seeks to strengthen the country’s capital market ecosystem and improve access to growth funding for local businesses. “Our aim is not only to create more listed companies, but to develop more companies that are capable of being listed,” he said. Beyond financial support, the programme also focuses on capacity building, helping SMEs improve governance and management practices needed to meet listing requirements. Sim added that SME Corp Malaysia will work with Credit Guarantee Corporation Malaysia Bhd, Bursa Malaysia, and other agencies to provide guidance and support to participating SMEs.

Property

From Products To Possibilities How Leonfast Group Is Building The Future Of Home Living

Malaysia’s home improvement sector has evolved significantly over the past decade. Rising homeownership aspirations, increasing consumer sophistication, and growing demand for quality living environments have transformed what was once a product-driven industry into one where experience, trust, and informed decision-making play an increasingly important role. Against this backdrop, Leonfast Group has built its business around a simple but often overlooked reality: customers are not merely purchasing bathroom fittings, kitchen solutions, or home improvement products—they are making long-term investment decisions that directly impact how they live, work, and experience their homes. Through its portfolio of brands, including Big Bath, the Group has established itself as a trusted player within Malaysia’s home living landscape by focusing not only on product accessibility, but also on customer confidence, education, and experience. Today, Leonfast Group operates across multiple segments within the home and living industry, spanning bathroom, kitchen, water heating, water filtration, and home improvement solutions. Serving homeowners, interior designers, contractors, and commercial projects nationwide, the company continues to expand its footprint while pursuing a broader ambition—to build an integrated ecosystem that simplifies decision-making and enhances the overall home improvement journey. At a time when consumers are increasingly seeking both functionality and value from their living spaces, Leonfast Group has distinguished itself by recognising that the future of home improvement extends beyond products alone. Success lies in creating meaningful experiences, building trust, and helping customers navigate complex purchasing decisions with greater confidence. Mun Phang Yew Sam, CEO, Leonfast Sdn Bhd. For many homeowners, renovation and home improvement projects can be overwhelming. Product choices are vast, technical specifications can be confusing, and the long-term implications of making the wrong decision can be costly. Leonfast Group recognised this challenge early in its growth journey. Rather than simply focusing on selling products, the company positioned itself as a facilitator of informed decision-making. Through brands such as Big Bath, Leonfast invested heavily in creating showroom environments where customers can physically experience products, compare options, seek professional guidance, and better understand what solutions are best suited to their individual lifestyles and requirements. This approach stems from a fundamental belief that customer confidence is one of the most valuable assets any business can build. As consumers become increasingly design-conscious and quality-focused, they are no longer looking solely for products—they are looking for assurance that the decisions they make today will continue to serve them well for years to come. When Leonfast first entered the market, the company identified a gap that many businesses had overlooked. While the industry was largely focused on product transactions, customers often needed something more valuable: education, consultation, comparison, and hands-on experience before making significant home investments. Bathrooms and kitchens are among the most frequently used spaces in any home. Decisions involving fixtures, fittings, water systems, and appliances often remain with homeowners for many years. Recognising this, Leonfast sought to create a more experiential retail environment where customers could make informed decisions rather than rushed purchases. As the industry matured, customer expectations evolved alongside it. Today’s consumers expect greater convenience, transparency, responsiveness, and service quality. In response, Leonfast continuously refined not only its product portfolio but also its operational systems, digital capabilities, customer journey, and showroom experience. This customer-centric philosophy continues to shape the Group’s strategic direction today. At the core of Leonfast’s growth strategy is the ambition to build a stronger ecosystem-driven business. The company has invested significantly in enhancing showroom experiences, accelerating digital transformation initiatives, strengthening collaborations with interior designers and contractors, and improving customer engagement and after-sales support. Digitalisation has become a key component of this strategy. Through enhanced systems and platforms, customers and business partners can access real-time stock availability, filter products based on specific requirements, and generate quotations more efficiently. These improvements streamline decision-making while improving operational efficiency for both retail and B2B customers. However, despite increasing digital adoption across industries, Leonfast remains committed to the importance of physical experiences. The company believes that home improvement remains a category where customers continue to value the ability to see, touch, test, and evaluate products before making purchasing decisions. This balance between technology and physical engagement reflects the Group’s broader philosophy of combining convenience with confidence. When evaluating where to allocate resources and capital, Leonfast consistently returns to a simple question: will this improve customer confidence and strengthen long-term trust? That principle has become a guiding framework for decision-making throughout the organisation. Importantly, Leonfast views growth through a different lens than many businesses. While expansion, revenue growth, and market share remain important metrics, the company believes true growth extends beyond financial performance alone. For Leonfast Group, growth means building stronger systems, developing stronger teams, deepening customer trust, and fostering long-term relationships with both homeowners and business partners. The objective is not simply to increase sales, but to create brands that customers remember for the quality of experience they received and the confidence they gained throughout their journey. Equally significant is what the company chooses not to pursue. Rather than competing solely on price, Leonfast focuses on delivering value through reliability, service, expertise, and customer experience. The Group recognises that home improvement products are long-term investments, and that customers ultimately place greater importance on durability, trust, and support than on short-term cost savings alone. As the organisation continues to scale, new challenges inevitably emerge. Interestingly, Leonfast believes that expanding product categories or opening new locations is often the easier aspect of growth. The more difficult challenge lies in maintaining consistency. Ensuring that customers receive the same level of service, guidance, and experience across multiple locations requires a disciplined approach to leadership and operations. To address this, the company has evolved from relying heavily on individual expertise towards building stronger systems, standard operating procedures, leadership structures, and communication frameworks. Developing future leaders has also become a critical priority. As the organisation grows, Leonfast understands that preserving its culture and customer-centric philosophy requires capable leaders who can carry these values forward across every level of the business. For the leadership team, this represents an important shift—from

ESG

TNB Raises RM4 Bil From First Sustainability Sukuk Issuance

Tenaga Nasional Bhd has raised RM4 billion from its first sustainability sukuk issuance that will finance or refinance eligible transition projects. The sukuk was issued in five tranches with tenures from seven to 25 years, according to a Bursa Malaysia filing by the national electric utility company. Annual distribution rates range from between 3.81% and 4.37%. Tenaga Nasional said the sukuk issuance will increase its consolidated borrowings by RM4 billion, but will not have a material impact on earnings. The sukuk is the first issuance under Tenaga Nasional’s RM10 billion sukuk wakalah programme established in April this year. Under the programme, Tenaga Nasional may issue conventional sukuk as well as sustainability and sustainability-linked sukuk. The company had cash and cash equivalents of RM15.96 billion and total borrowings of RM60.51 billion, translating into a net gearing ratio of 84.8%, as at March 31, 2026. Maybank Investment Bank and CIMB Investment Bank acted as joint principal advisers, joint lead arrangers and joint lead managers for the transaction. Maybank Investment also served as the sustainability framework adviser for the programme. Shares of Tenaga Nasional closed up four sen or 0.3% to RM14.28 on Friday, valuing the company at RM83.24 billion. Over the past one year, the stock has gained 43.5%.

The Executives

Public Bank Appoints Founder’s Daughter Diona Teh As Director

Public Bank Bhd has appointed Diona Teh Li Shian as a non-independent non-executive director, effective June 1. Diona Teh Li Shian (centre) has been appointed Public Bank’s non-independent non-executive director, effective June 1. Li Shian is the youngest daughter of Public Bank founder and chairman emeritus the late Tan Sri Teh Hong Piow. In a statement, the bank said she brings experience from roles in international banking groups, covering areas such as asset management, product development, strategic planning, regulatory compliance, customer experience, and process improvement. The bank said her appointment reflects the continuation of her father’s legacy and the Teh family’s long-standing commitment to Public Bank. She has also been appointed to the bank’s nomination and remuneration committee as well as the risk committee, according to Bursa filings. Li Shian holds a Master’s degree in Business Administration from Macquarie University and a Bachelor’s degree in Business from Queensland University of Technology. Public Bank shares closed down six sen or 1.3% at RM4.71, valuing the group at RM91.4 billion.

Investment & Market Trends

Berjaya Sells REDtone And 7-Eleven Stakes For RM77 Mil

Berjaya Corporation Bhd and its listed subsidiary Berjaya Property Bhd have disposed of stakes in five listed companies, including Berjaya Food Bhd, REDtone Digital Bhd, 7-Eleven Malaysia Holdings Bhd and Salcon Bhd, to related party Detik Ria Sdn Bhd for a total of RM76.79 million in cash. Berjaya Corp said the transactions were carried out via direct business deals on Thursday (May 28). The disposals involved reductions in shareholdings across several companies, including Berjaya Property, Berjaya Food, REDtone, 7-Eleven Malaysia and Salcon. Following the transactions, Berjaya Corp’s stakes were reduced to 74.22% in Berjaya Property, 63.3% in Berjaya Food, 34.06% in REDtone, 12.09% in 7-Eleven Malaysia, and 11.78% in Salcon. The group said the proceeds will be used to repay borrowings and for working capital, including administrative, marketing and operating expenses. Separately, Berjaya Property confirmed that its subsidiary Nural Enterprise Sdn Bhd sold a 1.98% stake (21.93 million shares) in 7-Eleven Malaysia to Detik Ria for RM43.85 million, with proceeds earmarked for ongoing development projects. The transactions were conducted at prevailing market prices, according to the filings. Detik Ria is linked to several key figures within the Berjaya group, including Tan Sri Vincent Tan and Johor princess Tunku Tun Aminah Sultan Ibrahim Ismail, among others. Berjaya Corp shares closed 0.5 sen lower at 24.5 sen, while Berjaya Property rose 0.5 sen to 26.5 sen.

Property

Oriental Holdings Unit In JV To Build Medical Centre In Penang

Oriental Holdings Bhd’s unit, Melaka Straits Medical Centre Sdn Bhd (MSMC), has entered into a joint venture with Ideal Hasrat Bumiraya Sdn Bhd, a company under Ideal Property Group, to develop a tertiary medical centre known as the Ideal Oriental Medical Centre. In a statement on Friday, MSMC said the collaboration formalised on Thursday marks a step towards strengthening healthcare delivery in northern Peninsular Malaysia through an integrated medical ecosystem combining advanced tertiary care, technology-driven services, and urban connectivity. The proposed medical centre will be developed on a 0.7689-hectare site within the Queens Waterfront master plan in Penang and is expected to be completed by end-2030. The facility is intended to serve residents in areas such as Gelugor, Bayan Baru, and Bayan Lepas, as well as the wider industrial workforce in the Bayan Lepas manufacturing corridor. MSMC said the project is also positioned to support Penang’s medical tourism sector, catering to both local and international patients seeking specialised healthcare services. The development is expected to further strengthen Penang’s position as a regional healthcare hub, while contributing to the state’s long-term goals in healthcare excellence, medical tourism, and sustainable urban growth.

The Executives

Sunway Construction Chairman Goh Chye Koon Retires, Kwan Foh Kwai Appointed

Datuk Goh Chye Koon will step down as chairman of Sunway Construction Group Bhd after more than a decade in the role, with Datuk Kwan Foh Kwai appointed as his successor. In a Bursa Malaysia filing, the construction group said Goh, 76, has retired by rotation and will not seek re-election. His retirement took effect at the conclusion of the company’s annual general meeting held on Friday. Goh has served as chairman since 2014, and the group expressed appreciation for his contributions during his tenure. In the same filing, Sunway Construction announced the redesignation of Kwan as its new independent non-executive chairman. Kwan, 74, previously served as Sunway Construction’s senior managing director from 2014 until his retirement in December 2015. He rejoined the board as an independent director in October 2024. The company said Kwan brings more than 40 years of experience in the construction industry, spanning both public and private sectors. He began his career in 1977 as a contract engineer with the Public Works Department before moving into senior roles across several construction firms, including Promet Construction Sdn Bhd, Alam Baru Sdn Bhd, and Taisei (Malaysia) Sdn Bhd. He later joined Sungei Way Construction Bhd in 1996 and was appointed managing director of Sunway Construction in 2001. Kwan also serves as independent non-executive chairman of Luxchem Corp Bhd. Sunway Construction shares closed one sen lower at RM7.49, valuing the group at RM9.96 billion.

Property

IJM To Sell Sandakan Hypermarket Building To Econsave For RM47.5 Mil

IJM Corporation Bhd is selling a hypermarket building in Sandakan, Sabah, to its tenant, supermarket operator Econsave, for RM47.5 million. In a Bursa filing on Friday, IJM said its unit IJM Properties Sdn Bhd has signed a sale and purchase agreement with Coupang Sdn Bhd, the asset-holding company of Econsave Cash & Carry Sdn Bhd, for the disposal of the single-storey hypermarket located on a 2.35-acre site (9,518.4 sq m). The group said the disposal allows it to unlock asset value and optimise capital allocation in line with its strategic objectives. From the proceeds, RM46 million will be used for working capital, while the remainder will cover transaction-related expenses. IJM expects to record a gain of about RM34 million from the disposal, compared with the property’s audited net book value of RM12.02 million as at end-March 2025. The transaction is classified as a related-party deal, as IJM independent non-executive director Tan Ting Min is deemed interested due to her spouse Lai Sia Ling being a major shareholder of Coupang. She has abstained and will continue to abstain from board deliberations and voting on the matter, IJM said. The property is currently leased to supermarket chain Bataras Sdn Bhd, which was acquired by Econsave in May 2025. Econsave is owned by the Lai family, with Lai Sia Ling and his siblings each holding equal stakes. The group expects the disposal to be completed by the third quarter. IJM shares closed nine sen higher at RM2.26, valuing the company at RM8.26 billion.

Energy & Technology

Swift Energy Secures PETRONAS Carigali Contract, Four Purchase Orders

Swift Energy Technology Bhd (KL:SET) has secured five contracts worth RM17.22 million, including a deal linked to PETRONAS Carigali Sdn Bhd’s Sepat Integrated Redevelopment Project offshore Terengganu. In a Bursa filing, the group said the contract for the supply of UPS distribution boards and switchboards/motor control centres for three Sepat wellhead platforms was awarded by Muhibbah Engineering (M) Sdn Bhd, a subsidiary of Muhibbah Engineering (M) Bhd (KL:MUHIBAH). The contract was awarded to its subsidiary Swift Energy Oil & Gas Sdn Bhd, with deliveries scheduled over the next three years. Separately, another subsidiary, Swift Energy Sdn Bhd, secured three purchase orders from Cummins Sales and Service Sdn Bhd, Azimuth Energy Sdn Bhd, and Expet Controls Sdn Bhd for the supply of neutral earthing resistors for projects in Malaysia, including a data centre project. Deliveries are expected by Q4 2026. In addition, Swift Solutions MSC Sdn Bhd received a purchase order from JJ-Lurgi Engineering Sdn Bhd for the supply of a low-voltage switchboard, variable speed drive and soft starter panel, with delivery also expected by the fourth quarter. The group said the contracts are expected to contribute positively to earnings and net assets for the financial years ending FY2026, FY2027 and FY2028. Earlier in January, Swift Energy had also secured purchase orders worth RM17.99 million involving hybrid power systems, generators, battery boxes and power-factor correction panels linked to PETRONAS-related projects in Sabah and Suriname. Shares of Swift Energy Technology closed unchanged at 16 sen, giving the group a market capitalisation of RM160.1 million.

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