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Malayan Banking Bhd (Maybank) has received approval from Bank Negara Malaysia (BNM) to acquire the remaining 30.95% stake in Maybank Ageas Holdings Bhd, the holding company of Etiqa’s insurance and takaful businesses, for RM4.83 billion. Following BNM’s approval on 1 September 2026, Maybank announced that it had signed an unconditional share purchase agreement with Belgian insurance group Ageas to complete the acquisition. The deal, first announced on 3 August 2026, will be fully financed using Maybank’s internally generated funds. Maybank currently owns 69.05% of Maybank Ageas through its subsidiary, Etiqa International Holdings Sdn Bhd. Once the acquisition is completed, Maybank Ageas will become a wholly-owned subsidiary of the banking group. Maybank Ageas oversees Etiqa’s insurance and takaful operations in Malaysia and Singapore, offering life and general insurance, as well as family and general takaful products. Maybank said gaining full ownership would provide greater flexibility to strengthen its insurance and takaful businesses. The acquisition is expected to support faster product development, expand bancassurance services, strengthen takaful offerings and improve operational efficiency. The RM4.83 billion purchase price includes adjustments relating to an RM800 million dividend that Maybank Ageas will distribute upon completion of the transaction. Of this amount, Ageas will receive RM248 million, while Maybank will receive RM552 million. According to Maybank, the acquisition values Maybank Ageas at 1.98 times its book value and 15.3 times its earnings. The transaction was expected to be completed on 11 September 2026. Following the acquisition, Maybank’s net assets per share are projected to decrease from RM7.73 to RM7.19, based on its financial position at the end of December 2025. The group’s total borrowings are expected to increase from RM44.24 billion to RM45.54 billion, while its gearing ratio is projected to rise from 0.47 times to 0.52 times. Meanwhile, Maybank shares declined two sen, or 0.19%, to RM10.56 during Tuesday’s midday trading session, giving the banking group a market capitalisation of approximately RM127.73 billion. The acquisition represents a significant step in Maybank’s strategy to strengthen its insurance and takaful operations, allowing the group to exercise full control over Etiqa’s future business development and expansion.

Private equity firm Navis Capital Partners has completed the sale of The Food Purveyor Sdn Bhd, the company behind Malaysia’s Village Grocer supermarket chain, to Thai retail group CP Axtra Public Company Ltd. Although the final transaction value was not disclosed, CP Axtra previously estimated the deal to be worth approximately RM1.66 billion when it announced the acquisition in March 2026. CP Axtra is the retail arm of Thailand’s CP Group, one of the country’s largest multinational conglomerates. Navis Capital Partners managing partner Rodney Muse said CP Group’s extensive experience in food retailing would help strengthen The Food Purveyor’s product offerings, logistics operations, technology capabilities and international expansion opportunities. The Food Purveyor operates several well-known supermarket brands in Malaysia, including Village Grocer, Ben’s Independent Grocer, BSC Fine Foods, Pasaraya OTK and The Food Merchant. The company was founded by the Ong family, which opened its first premium Village Grocer supermarket in Bangsar in 2004. Navis first invested in The Food Purveyor in 2014, supporting its growth and expansion across Peninsular Malaysia. Since then, the supermarket operator has expanded its network to 55 stores, strengthening its presence in Malaysia’s premium grocery retail market. Following the completion of the acquisition, The Food Purveyor has become an indirect subsidiary of CP Axtra through Lotus’s Stores (Malaysia) Sdn Bhd, which operates the Lotus’s hypermarket chain in Malaysia. The acquisition brings The Food Purveyor’s premium supermarket brands under the same retail group as Lotus’s, creating opportunities for stronger operational collaboration and business growth. Navis was advised by Rothschild, Wong & Partners and PricewaterhouseCoopers throughout the transaction. The completed sale marks a significant ownership change for The Food Purveyor as it enters its next phase of growth under CP Axtra.

TRC Synergy Bhd has secured a RM149.98 million subcontract from Gamuda Engineering Sdn Bhd for underground infrastructure works at a hyperscale data centre project. In a filing with Bursa Malaysia on 8 September 2026, the construction company announced that the contract was awarded to its wholly-owned subsidiary, TRC Construction Sdn Bhd. The project commenced on 14 August 2026 and is scheduled for completion on 25 November 2026. TRC Synergy said the contract is expected to contribute positively to the group’s earnings and net assets per share during the project period. This marks the company’s second contract win in 2026. Earlier in January, TRC Synergy secured a RM249 million contract to construct new complex buildings in Precinct 5, Putrajaya. The project was awarded to its wholly-owned subsidiary, Trans Resources Corporation Sdn Bhd, by Gilang Cendana Sdn Bhd, a subsidiary of Putrajaya Holdings Sdn Bhd. In December 2025, the group also secured a RM550.8 million contract from SRS Consortium Sdn Bhd, a Gamuda-led joint venture, for construction works related to Penang’s Mutiara Light Rail Transit (LRT) Line. According to its financial results for the second quarter ended 30 June 2026, TRC Synergy has participated in tenders worth more than RM3.7 billion over the past two quarters. These tenders cover several sectors, including data centres, the Mutiara LRT project, government buildings, schools and other infrastructure developments. The company is actively pursuing new projects to strengthen its existing order book, which currently stands at approximately RM1.2 billion. TRC Synergy expressed confidence in securing additional contracts before the end of 2026. Meanwhile, the company’s shares closed unchanged at 26.5 sen, giving it a market capitalisation of approximately RM127.3 million. The latest contract further expands TRC Synergy’s involvement in Malaysia’s growing data centre and infrastructure construction sectors.

Favelle Favco Bhd has secured four new contracts worth a combined RM131.7 million to supply tower and offshore cranes. In a filing with Bursa Malaysia on 8 September 2026, the crane manufacturer announced that its wholly-owned subsidiaries, Favelle Favco Cranes (M) Sdn Bhd and Favelle Favco Cranes Pty Ltd, will each supply one tower crane. Both tower cranes are expected to be delivered by the end of 2026. Meanwhile, Favelle Favco Cranes (M) Sdn Bhd will also supply two offshore cranes. The first is scheduled for delivery by mid-2027, while the second will be delivered in stages between the second and third quarters of 2027. The company said the newly secured contracts are expected to contribute positively to its earnings and net assets for the financial year ending 31 December 2026 and subsequent financial years. Favelle Favco also confirmed that the contracts will not affect its share capital or shareholding structure. Following the announcement, Favelle Favco shares closed unchanged at RM1.56 on Tuesday, giving the company a market capitalisation of approximately RM373.31 million. The latest contract wins add to Favelle Favco’s crane supply business, with deliveries scheduled across 2026 and 2027.

Public Bank Bhd has proposed to take its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL), private by purchasing the remaining shares it does not already own for HK$2.50 (RM1.29) per share. Public Bank currently holds a 73.23% stake in PFHL and plans to acquire the remaining 26.77%, representing approximately 293.9 million shares, for a total of HK$734.75 million. According to a filing with Bursa Malaysia, the bank confirmed that the offer price is final and will not be increased. The proposed privatisation will be carried out through a court-approved arrangement, under which shares held by minority shareholders will be cancelled and replaced with new shares issued to Public Bank. Once completed, PFHL will become a wholly-owned subsidiary of Public Bank. The HK$2.50 offer represents a 61.29% premium over PFHL’s last traded share price of HK$1.55 on 19 August 2026. It is also 83.82% higher than the company’s average closing price of HK$1.44 over the previous 360 trading days. However, the offer price is 64.64% below PFHL’s unaudited net asset value of HK$7.08 per share as of 30 June 2026. Trading in PFHL shares has been suspended since 20 August, pending the announcement. PFHL operates several financial businesses, including banking, stockbroking, investment property leasing and vehicle financing. Its banking operations cover 29 branches in Hong Kong and one branch in China. Public Bank said the proposal provides minority shareholders with an opportunity to sell their shares at a premium, particularly as PFHL’s shares have historically traded at significant discounts to their book value. The bank added that taking PFHL private would help reduce listing expenses, simplify the group’s corporate structure and allow greater focus on its core banking operations. It also expects the move to contribute positively to future earnings. For the first six months ended 30 June 2026, PFHL recorded a net profit of HK$25.19 million, compared with HK$2.57 million during the same period last year. Operating income increased slightly to HK$692.22 million from HK$685.16 million. For the financial year ended 31 December 2025, PFHL returned to profitability with a net profit of HK$79.65 million, reversing a net loss of HK$999.39 million in 2024. The proposed privatisation remains subject to several conditions, including approval from at least 75% of the votes cast by eligible minority shareholders at a court-convened meeting. Meanwhile, Public Bank shares closed unchanged at RM5, valuing the banking group at approximately RM97.05 billion. The proposed acquisition is expected to strengthen Public Bank’s control over its Hong Kong operations while supporting its long-term business growth and operational efficiency.