Investment & Market Trends

Crewstone International Sdn Bhd, a licensed and regulated private equity and private credit manager, today announced the completion of a structured financing transaction with Evergreen Vanilla Sdn Bhd, marking another capital deployment under Crewstone’s segment-focused growth investment strategy. Agriculture remains a resilient pillar of Malaysia’s economy, rebounding to 5.1% growth in Q4 2025 from marginal growth of 0.4% in the preceding quarter. As the country works to reduce a RM 78.8 billion food import bill under the National Agrofood Policy 2.0, private investment in high-value segments like natural vanilla which valued at USD 32.7 billion locally in 2024 and projected to grow at a 5.4% CAGR through 2032 and is increasingly vital for national food security and export competitiveness. The partnership reflects Crewstone International’s disciplined approach to deploying capital into asset-backed operating platforms with clear execution pathways. The success of this transaction underscores Crewstone’s ability to structure and deploy capital into real-economy operating businesses anchored by land, crop-bearing assets, and repeatable production cycles, where output is built over time and demand remains resilient even through economic downturns. This deployment extends Crewstone’s expertise beyond real estate and financial services into another real-economy vertical, while maintaining the same structure-first discipline. Evergreen operates one of Malaysia’s largest vanilla cultivation platforms, spanning approximately 350 acres in Lojing, Kelantan, and is building an integrated operation across cultivation, processing, and export-oriented supply. With the planned operational enhancements, the platform is expected to increase yield efficiency by 35.2%, support margin expansion through downstream processing, and expand customer capacity by more than five times as it scales into international food, fragrance, and pharmaceutical end-markets. The structured financing will support Evergreen’s next phase of operational build-out, including infrastructure development and production optimisation, as the company progresses from cultivation into scaled commercial operations. The investment also supports local economic activity by expanding plantation and processing operations and increasing demand across supporting services such as logistics, maintenance, and local procurement as the project moves into steady-state production. “This transaction reflects how we work with operating businesses where capital needs to be structured around assets, capacity build-out, and measured scale,” said Izmir Mujab, Managing Director and CEO of Crewstone International. “We focus on structure, execution readiness, and alignment. The sector is secondary. What matters is whether the business can scale responsibly with the right capital framework in place.” “Crewstone’s underwriting process is rigorous and detail-driven, and that discipline carries through beyond deployment,” said Jason Teo Giin Liang, Founder and Chief Executive Officer of Evergreen Vanilla. “Working with a partner that is structured, commercially demanding, and closely engaged has sharpened our internal decision-making and kept us focused on building the business the right way as we scale into international markets.”

Branding and marketing firm SBS Nexus Bhd ended its ACE Market debut on Tuesday (Jan 20) below its IPO price, closing at 24 sen — one sen under the issue price of 25 sen. The stock opened unchanged before sliding to an intraday low of 23 sen and briefly touching a high of 26 sen. It finished the session down 4%, making SBS Nexus the second most actively traded counter on the exchange, with 76.2 million shares changing hands. The company now carries a market capitalisation of RM117.6 million. The soft debut came despite strong demand for its initial public offering. Applications from the Malaysian public exceeded the available shares by more than 22 times, with the Bumiputera tranche oversubscribed 23 times and the non-Bumiputera portion 21 times. All shares allocated to eligible persons were fully subscribed, while the private placement to selected and Bumiputera investors, as well as the offer for sale of existing shares to selected investors, were also fully taken up. Through the listing, SBS Nexus raised RM30.6 million in IPO proceeds, which will be mainly used for business expansion and working capital needs. Meanwhile, RM12.25 million from the offer for sale accrued to chief operating officer Warren Cheng, head of digital Lai Kian Chuan and chief business officer Lim Cheng Yong. SBS Nexus provides branding and marketing services, including content creation and digital billboard advertising. M&A Securities Sdn Bhd acted as the sole adviser, sponsor, underwriter and placement agent for the IPO.

Hong Kong conglomerate CK Hutchison Holdings is considering listing its global telecommunications business in London and Hong Kong as soon as the third quarter, following a planned spin-off from the group, according to sources familiar with the matter. Preparations for the spin-off began early last year after CK Hutchison secured regulatory approval for a US$19 billion (RM77 billion) deal to merge its UK assets with Vodafone. The company is reportedly looking at London for the primary listing and Hong Kong as a secondary venue, valuing its European, Hong Kong, and Southeast Asian telecoms operations at around US$20 billion. If listed, the telco unit could quickly join London’s FTSE100 index. However, a potential merger of its Italian unit Wind Tre with France’s Iliad could delay the spin-off, insiders said. CK Hutchison is working with Goldman Sachs, Citigroup, and Deutsche Bank on the listing, though plans remain fluid and timing may change. The company declined to comment. The move follows CK Hutchison’s recent focus on improving returns, including the planned sale of most of its global ports business, valued at US$22.8 billion, to a BlackRock-led consortium—a process slowed by regulatory approvals and China’s push to include a domestic investor.

MyDCD Bhd, an engineering services firm focused on mechanical, electrical, plumbing and fire protection (MEPF) integration for mission-critical facilities such as data centres, is planning to list on the ACE Market of Bursa Malaysia. The company has yet to set its IPO price or indicate its expected market capitalisation. In its draft prospectus, MyDCD said proceeds from the listing will be used to support business expansion, including the recruitment and training of 25 additional project management and engineering staff, as well as the rental of extra office space. Funds will also be allocated for working capital, IT system enhancements and listing-related expenses. MyDCD currently operates from a 22,900 sq ft headquarters in Cyberjaya and employs 47 technical personnel. Under the proposed public issue, MyDCD plans to issue 89.7 million new shares to the Malaysian public, 36 million shares to eligible persons, 50.7 million shares via private placement to investors, and 158.59 million shares to Bumiputera investors through private placement. The IPO will also include an offer for sale of 145 million existing shares, with all substantial shareholders selling part of their stakes. Following the listing, the company’s largest shareholders — Ng Kok Hoong, Yew Kim Keong, Ng Gek Khoon and Datin Kwan Siew Peng — will collectively hold 61.16% of the enlarged share capital and will be subject to a six-month moratorium. Another group of shareholders, comprising Khairil Husni, Ngooi Siew Luan, Hon Mau Hoong and Wong Yoke Fang, who will collectively own 12.08%, have also voluntarily agreed not to dispose of their shares for six months. Post-listing, Kok Hoong’s shareholding will be reduced from 27.49% to 20.14%, while Khairil Husni’s stake will fall from 5% to 3.66%. MyDCD was incorporated in 2025 and later converted into a public company. Its operating business originates from DCD Technology, established in 2010, which MyDCD fully acquired in November 2025 via a conditional share sale agreement. The company has secured several sizeable contracts in 2025, including RM184 million worth of jobs from Binastra Builders Sdn Bhd, a wholly owned subsidiary of Binastra Corp Bhd, for MEPF integration works at a new data centre in Cyberjaya. It is also involved in a Huawei-branded data centre project with a contract value of RM20.92 million. For the financial year ended June 30, 2025, MyDCD reported revenue of RM372 million and a net profit of RM39.5 million, with Binastra Builders contributing about two-thirds of total revenue. Gek Khoon holds an 11% stake in ITP Cjaya Sdn Bhd, one of MyDCD’s top five revenue contributors during the year. TA Securities Holdings Bhd is acting as principal adviser, sponsor, underwriter and placement agent for the proposed IPO.

Guan Huat Seng Holdings Bhd, which is set to make its debut on Bursa Malaysia’s ACE Market on January 22, has posted a net profit of RM1.51 million and revenue of RM20.14 million for its first financial quarter ending October 31, 2025. This marks the company’s first interim financial report, so no prior period comparisons were available. The Melaka-based frozen food distributor reported a gross profit of RM5.18 million, representing a gross margin of 25.7%, while its net profit margin stood at 7.51%, highlighting a healthy start ahead of its market listing. In a filing with Bursa Malaysia, the company expressed optimism about its prospects, citing Malaysia’s resilient economy, rising household incomes, expanding industrial activities, and growing tourism as factors expected to support sustainable growth in the food and beverage sector as well as the retail market throughout 2026. Founded in 1979, Guan Huat Seng specializes in distributing halal-certified frozen and shelf-stable food products locally and exporting to international markets. The company’s product portfolio is aimed at serving both retail and wholesale customers, tapping into Malaysia’s growing consumer demand and export opportunities. The retail portion of the company’s initial public offering (IPO) was oversubscribed by 4.78 times, reflecting strong investor interest. The IPO involves the issuance of 120 million new shares at 25 sen each, raising up to RM30 million, while selling shareholders will receive RM5.25 million from the offer for sale. Proceeds from the IPO will be allocated to partially fund the construction of new facilities in Melaka, including an integrated complex in Batu Berendam and a manufacturing facility in Krubong. Additional funds will be used to support working capital needs and marketing initiatives to further expand the company’s market presence. Upon listing, Guan Huat Seng is expected to have a market capitalisation of RM118.38 million, positioning it as a growing player in Malaysia’s food and beverage distribution sector, ready to leverage both domestic and international opportunities.

Gold and silver surged to fresh record highs as escalating geopolitical tensions linked to US President Donald Trump’s renewed push to take control of Greenland rattled markets and fuelled safe-haven demand. Spot gold climbed to around US$4,660 an ounce, while silver jumped as much as 4.4%, supported by a weaker US dollar and heightened investor appetite for defensive assets. Market jitters intensified after the United States announced plans to impose tariffs on eight European countries — including France, Germany and the United Kingdom — that oppose the Greenland move. Initial levies of 10% are set to take effect on Feb 1, rising to 25% by June. European leaders are expected to convene emergency talks in the coming days to discuss possible countermeasures. Options under consideration include retaliatory tariffs on up to €93 billion (US$108 billion) worth of US goods, according to sources familiar with the discussions. French President Emmanuel Macron may also push for the activation of the European Union’s anti-coercion instrument, one of the bloc’s strongest trade retaliation tools. Analysts said the current tensions represent a deeper geopolitical rift compared with previous trade disputes. “Using tariff threats within alliances creates a trust shock that leaves a lasting risk premium,” said Charu Chanana, chief investment strategist at Saxo Markets in Singapore. Precious metals have extended their strong rally this year, building on sharp gains in 2025, amid rising geopolitical risks, renewed pressure on the US Federal Reserve, and concerns over the independence of the central bank. These factors have strengthened the so-called debasement trade, as investors move away from currencies and government bonds. Demand has also been boosted by increased buying from China and a broader rotation into metals. Gold-backed exchange-traded fund holdings rose 0.9% last week, the largest weekly increase since September, and have expanded in seven of the past eight weeks. Bullish forecasts remain intact, with Citigroup Inc recently projecting gold prices could reach US$5,000 an ounce within three months, while silver may climb to US$100. “Geopolitical risks are intensifying, trade uncertainty is undermining growth, and confidence in the US dollar is weakening,” said Kyle Rodda, an analyst at Capital.com in Melbourne. “It’s an ideal environment for gold and silver.” In Asian trading, spot gold rose 1.4% to US$4,658.31 an ounce after touching an intraday high of US$4,690.59. Silver gained 3% to US$92.84, after hitting a peak of US$94.12. Platinum edged higher, palladium slipped, and the Bloomberg Dollar Spot Index fell 0.1%. Investors are also watching closely an upcoming US Supreme Court hearing on Trump’s bid to remove Federal Reserve governor Lisa Cook, which could have significant implications for the central bank’s independence.

Mitsubishi Corp has agreed to acquire Aethon Energy Management LLC’s US natural gas and pipeline assets in a US$5.2 billion (RM21.1 billion) deal, marking the largest investment by a Japanese firm in the American shale sector. The acquisition covers Aethon III LLC, Aethon United LP, and associated entities and interests, the company said on Friday. Negotiations for the deal have been ongoing since mid-2025. Including Aethon’s US$2.33 billion debt, the total enterprise value of the transaction reaches US$7.5 billion. Under the agreement, Aethon retains the right to repurchase up to 25% of its upstream and midstream assets. The move reflects Japanese energy firms’ growing interest in the US oil and gas sector, supported by incentives from the Trump administration to boost investment in North America. Mitsubishi, which counts Berkshire Hathaway as a major shareholder, is strengthening its position in one of its most profitable sectors—natural gas. “The US gas market is the world’s largest in terms of domestic demand, production, and exports, and demand is expected to rise further due to increasing power needs from AI and data centres,” Mitsubishi said. Aethon, based in Dallas, operates extensively in the Haynesville shale basin across eastern Texas and northern Louisiana, near key LNG export terminals. Founder Albert Huddleston and his family stand to gain substantially from the deal. Mitsubishi already holds stakes in US LNG export facilities, and the acquisition aligns with Japan’s push to secure energy supply amid expected growth in electricity demand driven by AI and digital infrastructure. Other Japanese energy companies have made similar moves in recent years, including Tokyo Gas Co’s US$2.7 billion purchase of Rockcliff Energy II LLC in 2023 and Jera Co’s recent shale gas investment in western Louisiana.

YTL Cement Bhd, the largest shareholder of Malayan Cement Bhd, is set to raise up to RM755 million by selling a 7.2% stake in the company through a secondary placement of up to 100 million shares. The shares are priced at RM7.55 each, representing a discount of 3.58% to the last closing price of RM7.83. The placement includes a base tranche of 65 million shares (4.7% of Malayan Cement’s existing share capital) and an upsized option for an additional 35 million shares, if fully exercised. The bookbuilding for the placement closed on Thursday, with payment and share allocation scheduled for Jan 20. YTL Cement currently holds a 65.4% stake in Malayan Cement, with Prudential plc as the second-largest shareholder at 8.43%. Over the past year, Malayan Cement’s shares have surged over 60% to a high of RM8.10, their highest since January 2017. At the time of writing, the stock was at RM7.70, giving the company a market capitalisation of RM10.64 billion.

Pestec International Bhd has announced that its wholly owned subsidiary, Pestech Sdn Bhd (PSB), has been served with a winding-up petition over an alleged debt of US$2.39 million (approximately RM9.69 million). The petition was filed by Pestech Engineering Technology (China) Co Ltd (PETC), a separate entity that is not affiliated with Pestec, despite the similarity in names, the company clarified in a filing to Bursa Malaysia. PSB, which specialises in high-voltage electrical systems, is now facing legal proceedings as a result of the petition. Pestec said it has sought legal advice and is taking all necessary measures to address the matter. The company also stressed that it does not anticipate any significant financial or operational impact from the petition. The court has set the first case management for April 6, 2026, marking the start of the legal process. Pestec’s shares last closed at 11 sen, giving the company a market capitalisation of RM268.52 million. The stock has declined roughly 40% over the past year, reflecting market pressures and investor caution amid the legal development. The company reassured shareholders that it remains committed to monitoring the situation closely and will provide updates as the case progresses.