Investment & Market Trends

CapBay and CGC Digital have partnered to launch a Digital Guarantee Scheme aimed at improving financing access for underserved MSMEs in Malaysia. The scheme combines CGC Digital’s credit guarantee capabilities with CapBay’s supply chain finance and peer-to-peer (P2P) platform, creating a risk-sharing structure that enables lenders to offer more competitive financing while supporting businesses without traditional collateral. CapBay’s AI-driven credit assessment is designed to speed up approvals and improve access to funding. The programme offers both Islamic and conventional financing options — its first dual-facility rollout — targeting MSMEs with at least 51% Malaysian ownership. Financing ranges from RM50,000 to RM500,000, with tenures of up to 60 months. To date, CapBay has facilitated over RM5.4 billion in financing to more than 2,500 SMEs. Under the partnership, CGC Digital’s guarantee enhances the credit profile of participating businesses, helping attract institutional and retail investors while supporting lower financing costs. Ang Xing Xian said the collaboration aims to make financing more accessible to SMEs that face challenges with traditional approval processes, leveraging AI to deliver faster and more seamless funding. Meanwhile, Yushida Husin said the initiative uses data-driven insights to bridge financing gaps, while offering both Shariah-compliant and conventional options to broaden access and provide greater assurance to financiers. The initiative supports broader efforts to enhance financial inclusion and drive MSME growth in Malaysia.

Bank Muamalat Malaysia Bhd is offering targeted financial assistance to customers facing temporary financial strain amid global uncertainties, including developments in West Asia. The initiative, introduced under its “Program Bantuan Ketahanan Kewangan Sementara”, aims to support individuals experiencing short-term income disruptions while remaining financially viable in the long term. The bank said the programme provides flexible and tailored solutions, including payment rescheduling, revised instalment plans, financing tenure extensions and restructuring options based on customers’ financial capacity. President and CEO Khairul Kamarudin said the move reflects the bank’s proactive approach to safeguarding customer wellbeing while maintaining prudent financial practices. He added that the initiative is not only intended to provide temporary relief but also to help customers achieve sustainable financial stability, in line with the bank’s guiding principles of “Amanah” and “Ihsan”. The programme also includes personalised financial advisory services and encourages early engagement to identify suitable solutions. It is open to individual customers facing temporary financial difficulties, subject to eligibility criteria. Applications can be made via email or at Bank Muamalat branches nationwide.

Weststar Aviation Services Sdn Bhd has secured a RM2 billion financing facility from AMMB Holdings Bhd (AmBank Group) to support its expansion plans. Executive director Syed Muhammad Azni Syed Azman said the syndicated facility will fund fleet expansion, strengthen working capital and support foreign exchange management. Front row (from left): Datuk William Koh, Head, WBC Large Corporate 5, AmBank, Datuk Mohd Wazeer Nawawi, CFO, Weststar Group, and Yeoh Teik Leng, Head, Debt Markets, AmBank Second row (from left): Eqhwan Mokhzanee, CEO, AmBank Islamic, Datuk Jamzidi Khalid, MD, Wholesale Banking, AmBank, Datuk Mohamed Rafique Merican Mohd Wahiduddin Merican, Chairman, AmBank Islamic, Tan Sri Syed Azman Syed Ibrahim, Group MD of The Weststar Group, Syed Muhammad Azni Syed Azman, Director, Weststar Aviation Services Sdn Bhd, and Datuk Wan Hasmar Azim Wan Hassan, CEO. He said the partnership will enable the company to grow its helicopter fleet, enhance operations and continue supporting key sectors such as offshore oil and gas, defence and emergency services. With the financing in place, Weststar aims to double its fleet from 32 to 64 aircraft within two years. The facility was arranged with support from AmInvestment Bank Bhd as lead coordinator and joint mandated lead arranger, while AmBank Islamic Bhd is among the financiers. AmBank managing director of wholesale banking Jamzidi Khalid said the financing marks the next phase of Weststar’s growth, enabling it to scale operations and expand its presence both regionally and globally. The agreement builds on a longstanding 15-year partnership between the two groups, supporting Weststar’s continued growth and transformation.

Meiji Seika Pharma Co Ltd said its subsidiary, Meiji Pharma Asia Pte Ltd, began operations in Singapore on April 1, marking a strategic step to expand its presence in ASEAN. The company said the new unit will handle the commercialisation, marketing and distribution of pharmaceuticals, including vaccines, across the region. Singapore will serve as a regional hub to drive business strategy and accelerate growth in ASEAN markets. Established on Dec 10, 2025, Meiji Pharma Asia will focus on treatments for infectious diseases, haematologic cancers and lifestyle-related conditions, while supporting reliable supply and contributing to public health. The move aligns with Meiji Seika Pharma’s “Meiji Group 2026 Vision” to become a leading player in Asia’s infectious diseases segment, building on decades of experience in Thailand and Indonesia.

Mitsubishi Motors Malaysia is targeting sales of up to 800 units of its newly launched Mitsubishi Xforce this month, with a longer-term goal of averaging 500 units monthly. Chief executive officer Takashi Sakamaki said the company has already received 2,600 bookings and is confident of exceeding 3,000, surpassing its initial target of 2,000. The Xforce is offered in two variants — Urban, priced at RM109,980, and Ultimate, priced at RM119,980. Early buyers are eligible for a RM5,000 cash rebate, free labour for three services, and entry into a promotional “Buy 1 Free 1” contest. On market conditions, Takashi said rising global oil prices due to tensions in West Asia have not significantly impacted demand for petrol vehicles in Malaysia, supported by the stable RON95 fuel price of RM1.99 per litre. However, he noted that higher diesel prices — now around RM6.00 per litre — are expected to affect demand for diesel-powered vehicles, particularly pickup trucks, in Peninsular Malaysia, while demand in East Malaysia remains more stable.

Hibiscus Petroleum Bhd said Mettiz Capital Sdn Bhd has ceased to be a substantial shareholder after selling part of its stake. In a filing with Bursa Malaysia, the group said Mettiz disposed of 1.12 million shares on April 2 and 540,000 shares on April 3, reducing its holdings to 35.27 million shares—below the 5% threshold required for substantial shareholder status. The disposals were worth an estimated RM3.71 million based on closing prices on the respective days. Mettiz first became a substantial shareholder in 2016 after subscribing to a private placement. Its exit marks a notable change in Hibiscus’ shareholder base. Mettiz is founded by Michael Tang Vee Mun, who remains Hibiscus’ largest shareholder through indirect stakes held via Polo Investments Ltd and Mettiz, with a combined 12.32% interest. Hibiscus shares closed down seven sen, or 3.1%, at RM2.17 on Monday, giving the company a market capitalisation of about RM1.6 billion. Separately, the group said in November it was in talks with three potential strategic investors, including two oil companies, for a possible long-term investment involving shares, convertible securities, and the injection of producing oil and gas assets alongside cash.

Nextgreen Global Bhd (NGGB) has accepted a RM50 million working capital financing-i (WCF-i) facility from Bank Kerjasama Rakyat Malaysia Bhd (Bank Rakyat), the company said in a filing with Bursa Malaysia. The financing, based on the Shariah Tawarruq principle, will be used to support the group’s general working capital needs related to its business operations. Each disbursement under the facility carries a 12-month revolving tenure, with an overall facility term of up to five years from the date it is made available or the first disbursement, subject to the bank’s discretion and periodic review. NGGB said the loan will not affect the company’s issued and paid-up capital or the shareholdings of substantial shareholders. It is also not expected to have any immediate impact on the company’s net assets or earnings per share.

Bank Negara Malaysia (BNM) has approved Affin Bank Bhd’s proposed acquisition of 100% equity interest in Pheim Asset Management Sdn Bhd for RM50 million in cash, according to a bourse filing. The approval, granted via a letter dated April 2, is subject to conditions including post-completion reviews of certain operational processes and an independent external assessment prior to system integration. As at June 30, 2025, Pheim Asset Management managed approximately RM876 million in assets under management (AUM). For the financial year ended Dec 31, 2024, the company recorded profit after tax of RM1.58 million, net assets of RM25.61 million, and RM21.60 million in cash and fixed deposits. Affin Bank has previously indicated plans to scale up its AUM rapidly following the acquisition, with a long-term target of RM6 billion. The bank is expected to tap funding from sources including the Sarawak Sovereign Wealth Future Fund, external investment managers, and high-net-worth clients from its premium and private banking segments. It may also deploy treasury funds into fixed income strategies managed under the platform. The RM50 million purchase price implies a price-to-AUM ratio of 5.7%, higher than the 3.08% valuation seen when Affin sold Affin Hwang Asset Management to CVC Capital Partners in 2022. The deal also reflects a price-to-book multiple of two times and a price-earnings ratio of about 30 times. Affin exited the asset management business in July 2022 after disposing of its 63% stake in Affin Hwang Asset Management for RM1.42 billion. Analysts estimate that every RM1 billion in AUM could generate around RM2 million to RM2.5 million in fee income, highlighting the potential earnings contribution from the acquisition. Shares in Affin Bank closed one sen lower at RM2.45, giving the bank a market capitalisation of RM6.21 billion. The stock has declined 6.8% over the past year.

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.