Author name: exchangemsia_admin

Supermax Corporation Bhd’s associate company, Supermax Brasil Importadora S/A (Supermax Brasil), plans to establish a medical glove manufacturing facility in Paraná, Brazil, with a total investment commitment of about 250 million Brazilian Real (US$50 million). Supermax said the investment marks a major step in the group’s international expansion strategy and strengthens its presence in the Latin American healthcare and industrial markets. The group noted that Brazil offers strong long-term growth potential due to its expanding healthcare sector, rising regional demand for medical and industrial gloves, strategic access to the Mercosur market, and government initiatives aimed at boosting local manufacturing while reducing reliance on imports. The project will involve the development of an integrated manufacturing facility with flexible production capabilities designed to serve both healthcare and industrial markets across the region. Supermax Brasil is currently working closely with Brazilian authorities and stakeholders to support the project’s implementation and the development of a local manufacturing ecosystem. The company also plans to expand its market reach into Mercosur associate member countries, including Chile, Colombia, Ecuador, Guyana, Panama, Peru and Suriname. Supermax said the investment will be carried out in two phases. The first phase involves an initial investment of about 150 million Brazilian Real (US$30 million), which will be funded through internally generated funds and retained earnings. The second phase will focus on future expansion to support rising regional demand and market growth. Separately, Supermax reported a wider net loss of RM41.14 million for the third quarter ended March 31, 2026, compared with RM23.81 million a year earlier. Revenue declined to RM126.76 million from RM203.67 million, mainly due to the stronger ringgit against the US dollar and lower average selling prices. For the first nine months of the financial year, the group’s net loss widened to RM234.19 million from RM93.35 million previously, while revenue fell to RM519.76 million from RM627.11 million. Despite ongoing cost pressures, Supermax said it remains optimistic about its outlook, supported by resilient healthcare demand and improving overseas market conditions. The group added that it is working towards a turnaround and expects to return to profitability in the second half of 2026.

Mudajaya Group Bhd’s indirect wholly owned subsidiary, Xelmont Ltd, is selling its 45% stake in Real Jade Ltd to Minyi Holdings Ltd (MHL) for HK$234 million (RM118.45 million). In a filing with Bursa Malaysia, Mudajaya said the disposal proceeds will mainly be used to offset debt owed to MHL, which amounted to HK$244.97 million as at April 30, 2026. The group added that the remaining balance of HK$10.97 million, along with the related interest, will be settled in cash. Mudajaya said the disposal allows the group to unlock part of its investment in Real Jade while still retaining a controlling stake in the company. This will enable the group to continue benefiting from any future growth and operational improvements at Real Jade.

Big Caring Group Bhd, Malaysia’s largest pharmacy chain operator, is reportedly seeking to raise up to RM3 billion through a planned initial public offering (IPO), potentially making it one of the country’s largest listings in recent years. According to sources familiar with the matter, the pharmacy retailer is targeting a listing by October this year. Discussions remain ongoing and details, including the IPO size and timeline, could still change. Backed by private equity firm Creador Sdn Bhd, Big Caring plans to offer up to 25.5% of its enlarged share capital in the listing. Part of the proceeds raised is expected to be used for debt repayment. The planned IPO comes amid a strong year for Malaysia’s capital market, with around RM5.6 billion raised through IPOs so far in 2026. Among the largest listings this year was Sunway Healthcare Holdings Bhd, which raised RM3.3 billion in March after exercising its over-allotment option. Big Caring currently operates several well-known pharmacy brands, including Big Pharmacy and Caring Pharmacy, with a combined network of 626 outlets nationwide, according to its prospectus. The company also plans to expand aggressively by opening around 40 to 50 new outlets annually over the next three to five years. Creador, which invested in the company in 2015, currently owns about 34% of Big Caring and is expected to sell up to 14.8% of its stake through the IPO exercise. The company was founded by Lee Meng Chuan and Lim Sin Yin, who remain significant shareholders in the business. Big Caring did not respond to requests for comment on the proposed listing.

Billionaire Tan Sri Vincent Tan is reportedly considering selling his remaining 30% stake in Prudential Assurance Malaysia Bhd, according to people familiar with the matter. Tan is said to be in discussions with advisers regarding a potential divestment following the earlier disposal of a 19% stake in the insurer this year. Sources indicated that the stake sale could value Prudential Malaysia at more than RM20 billion, although discussions remain at an early stage and may not necessarily lead to a transaction. The proposed valuation could also change as deliberations continue, the sources added. Tan’s investment vehicle, Detik Ria Sdn Bhd, which is also linked to the Johor royal family, previously resolved a long-standing legal dispute with Prudential Plc last year. The settlement resulted in Prudential acquiring a 19% stake in the Malaysian insurer. The deal at the time valued Prudential Assurance Malaysia at approximately RM8 billion, leaving Detik Ria with a 30% holding while Prudential Plc retained a 70% stake, which is the maximum foreign ownership permitted under Malaysian insurance regulations. Any potential buyer for Tan’s remaining stake would need to be Malaysian due to local ownership rules governing the insurance sector. Tan declined to comment on the matter, while Prudential and its Malaysian unit did not respond to requests for comment.

Aquawalk Group Berhad (“Aquawalk” or “the Group”), whose subsidiaries develop and operate several world-class aquaria including Aquaria KLCC, has today announced that its wholly-owned subsidiary, Aquawalk (Indonesia) Sdn Bhd (“AQWID”), has entered into a Shareholders cum Joint Venture Agreement (“SJVA”) with PT Maju Batu Bersama (“PTMBB”) to jointly undertake the development, ownership and operation of a new oceanarium in East Java, Indonesia (“Project”). This is Aquawalk’s second venture in the Indonesian market, the other being Jakarta AQuarium Safari. The Project will be undertaken through a newly incorporated joint venture company (“JVCo”) in Indonesia, with Aquawalk holding a 60% equity stake and PTMBB holding the remaining 40%. Group Executive Chairman of Aquawalk, Dato’ Simon Foong (拿督冯重兴) said, “This joint venture marks another important milestone in our growth journey. Indonesia remains a key market for us, supported by strong domestic consumption, favourable demographics, and a growing tourism sector. Our collaboration with PTMBB allows us to combine our technical and operational expertise with local market knowledge to deliver a compelling oceanarium in East Java.” The new oceanarium, to be branded “Aquaria Java Timur Park” will be developed within Jawa Timur Park 3 in Batu, East Java, an existing and operational integrated tourism and leisure development by the Jawa Timur Park Group. This family-oriented destination is already an established attraction in East Java, comprising a range of themed attractions, educational and entertainment facilities, as well as retail and supporting amenities. A lease agreement is expected to be executed between PTMBB and the JVCo, for a minimum term of ten years, with an option to renew for a further ten years, in respect to the development and operation of the Project. The total initial investment for the project is estimated at approximately IDR110 billion (approximately RM24.6 million), to be funded proportionately by the joint venture partners. Aquawalk’s share of the investment amounts to approximately IDR66 billion (approximately RM14.8 million), which will be funded by the Group’s initial public offering proceeds allocated for expansion. Under the terms of the SJVA, Aquawalk will take on the role of design, development, construction, and operations of the oceanarium, leveraging its track record in delivering world-class marine attractions, while PTMBB will support the project through local coordination including liaison with the master developer, landowner, and relevant authorities, as well as ensuring regulatory compliance through securing necessary approvals, licenses, and permits. Dato’ Simon added, “A key advantage of this project is that we are not building a destination from scratch. Jawa Timur Park 3 is already a well-established tourism destination with a steady visitor base, which gives the new oceanarium an immediate platform on opening and shortens the typical ramp-up curve for a new attraction. We aim to deliver an attraction that contributes to tourism in the region and supports marine education and conservation.”