Investment & Market Trends

Ecobuilt Holdings Bhd (KL:ECOHLDS) has proposed to diversify its business into property development and the trading of building materials, as part of efforts to strengthen its earnings base. The group expects these new segments to contribute at least 25% of its net profit going forward. UOB Kay Hian Securities has been appointed as the adviser for the proposed diversification exercise. In a filing with Bursa Malaysia, Ecobuilt said it plans to set up new subsidiaries to undertake the respective businesses, subject to shareholders’ approval. The group noted that the move will allow it to leverage its existing experience, industry knowledge and network within the construction sector, while providing greater flexibility to tap into opportunities across different stages of the construction and property value chain. Ecobuilt added that the diversification is expected to complement its current construction activities and reduce reliance on a single business segment. However, the company highlighted that both property development and construction-related activities are subject to various regulatory requirements imposed by authorities. Similarly, the building materials trading segment may face compliance obligations, including business registrations, import or distribution approvals, and product standards. As at present, Ecobuilt has an outstanding unbilled order book of approximately RM196.8 million. This includes the Riveria Phase 2 project in Brickfields valued at RM165.07 million, and the Seiring – Block D project in Shah Alam worth RM31.73 million. Financially, the group remains in a net debt position of RM2.03 million as at Nov 30, 2025, with total borrowings of RM3.37 million exceeding its cash and cash equivalents of RM1.35 million. The company has also been loss-making since the financial year 2022. On the market front, Ecobuilt shares closed unchanged at 5.5 sen on Friday, giving the group a market capitalisation of RM23.1 million.

IOI Properties Group Bhd has announced plans to establish and list a real estate investment trust (REIT) comprising a portfolio of retail, office and hotel assets with a total value of RM7.58 billion. In a filing with Bursa Malaysia, the group said it intends to inject several Malaysian properties — including IOI City Mall and IOI City Park — into the proposed trust, to be known as IOIPG Malaysia REIT (IOIPG REIT). The REIT is expected to be listed on the Main Market of Bursa Malaysia with an initial fund size of 5.5 billion units. The move follows earlier reports in June 2025 that IOI Properties was exploring a REIT listing as part of efforts to manage debt arising from past acquisitions. In August last year, the group had also set up IOIPG REIT Management Sdn Bhd to act as the REIT manager. IOI Properties said the proposed listing is targeted for completion by the fourth quarter of 2026, subject to approvals from the Securities Commission Malaysia, Bursa Malaysia, the Ministry of Investment, Trade and Industry (Miti), and shareholders. The REIT will be established under a trust deed lodged with the Securities Commission and will focus on income-generating assets across retail, commercial, office and hospitality segments, in line with REIT guidelines. Under the proposed structure, the asset injection will be satisfied through the issuance of 5.5 billion units at an indicative price of 90 sen per unit, along with a cash component of RM2.65 billion. The cash portion will be funded through borrowings raised at the REIT level via a medium-term note programme. Following the injection, IOI Properties plans to offer up to 2.2 billion units, or 40% of the REIT, to investors through a combination of retail and institutional placements. Based on the indicative pricing, the exercise could raise approximately RM2 billion, while the REIT will also assume RM2.65 billion in debt as part of the transaction structure. The retail offering will include allocations for existing shareholders, employees and the public, including a Bumiputera portion. Meanwhile, the institutional tranche will be offered to selected investors, including Bumiputera investors approved by Miti. Final pricing will be determined closer to listing via a bookbuilding process, with the retail price set at the lower end of the institutional price range. Several hotel assets within the portfolio are expected to be leased back to IOI Properties-related companies under long-term arrangements upon completion of the exercise. Proceeds raised are expected to be channelled to IOI Properties and will primarily be used to repay borrowings, fund ongoing development and investment activities, as well as cover transaction-related expenses. Maybank Investment Bank Bhd and AmInvestment Bank Bhd have been appointed as joint principal advisers, global coordinators, bookrunners, managing underwriters and underwriters for the exercise. DBS Bank Ltd is also acting as joint global coordinator and bookrunner, while Knight Frank has been appointed as the independent property valuer. The REIT manager, IOIPG REIT Management, has an issued share capital of RM1 million. Its board includes IOI Properties group CEO Datuk Lee Yeow Seng and Datuk Ong Eng Bin. MTrustee Bhd has been proposed as trustee, with Rockwills International Bhd as its ultimate holding company, while Henry Butcher Malaysia (Mont Kiara) Sdn Bhd is expected to serve as property manager for the retail and office assets. Financially, IOI Properties reported a strong performance for the second quarter ended Dec 31, 2025, with net profit rising significantly to RM708.84 million from RM94.78 million a year earlier. Revenue also increased to RM1.04 billion from RM729 million. On the market front, IOI Properties shares rose 21 sen, or 6.14%, to close at RM3.63 on Friday, giving the group a market capitalisation of nearly RM20 billion. Over the past year, the stock has gained 108.9%.

Favelle Favco Bhd has announced the completion of its acquisition of French crane manufacturer Seram Industries SAS. The group had previously agreed to acquire Seram for a cash consideration ranging between €7.5 million and €10 million (approximately RM35.6 million to RM47.5 million), marking a strategic move to expand its international footprint. Seram is a wholly owned subsidiary of Marec Industrie SAS, which is controlled by its directors Joaquin Semis and Andrée Nee Vinas Semis. The company specialises in hydraulic balancing crane systems that are designed to enhance energy efficiency and improve lifting performance. Its solutions primarily cater to the industrial waste and recycling sector, while it also undertakes installation and maintenance of cranes and conveyor systems used in waste treatment facilities. For the financial year ended Dec 31, 2024, Seram reported a net profit of €1.76 million on revenue of €18.75 million, reflecting a stable performance within its niche segment. Previously, Favelle Favco noted that the acquisition is expected to broaden its product portfolio and support its strategic push into more automated and specialised heavy lifting equipment. The group also anticipates that the deal will strengthen its technical expertise while creating cross-selling opportunities across its global operations. The acquisition was fully funded through internally generated funds. As at Sept 30, 2025, Favelle Favco maintained a strong balance sheet, with cash reserves of RM219.92 million compared to borrowings of RM107.34 million. According to AskEdge data, Favelle Favco is currently trading at a price-to-earnings (P/E) ratio of 7.6 times, the lowest among its peers where comparisons are applicable. This valuation sits at the lower end of its historical range in recent years. In addition, the group’s price-to-net-asset (P/NAV) ratio stands at 0.5 times, which is below the peer average and also at its lowest level in recent years, indicating a relatively undervalued position. On the trading front, Favelle Favco shares closed unchanged at RM1.60 on Friday, giving the group a market capitalisation of approximately RM379.5 million.

Energy services provider KJTS Group Bhd has announced the completion of its acquisition of a 70.67% stake in specialist engineering firm iHandal Holdings Sdn Bhd. The acquisition, valued at RM10.1 million in cash, was first announced on March 5 and has now been finalised as part of KJTS’ strategic expansion plans. iHandal is known for its focus on energy efficiency solutions, particularly through its proprietary Heatfuse™ technology. The system is designed to capture and recycle waste heat generated from industrial processes, helping clients improve energy usage and reduce operational costs. The company serves a diverse portfolio of commercial and industrial clients, including hotels, hospitals, and manufacturing facilities. Its operations extend across multiple regions, namely Southeast Asia, South Asia, Oceania, and North America, positioning it as a growing player in the energy optimisation space. In an earlier filing, KJTS highlighted that the acquisition is expected to complement and strengthen its existing core businesses in cooling energy management and building support services. At the same time, it will enhance the group’s capabilities in delivering integrated energy optimisation solutions to its clients. KJTS also noted that the acquisition was fully funded through internally generated funds and will not result in any changes to its share capital or major shareholding structure. On the market front, KJTS shares closed two sen, or 2.6%, higher at 80 sen on Friday, giving the group a market capitalisation of approximately RM552.5 million.

Property group Ideal Capital Bhd has proposed a bonus issue of up to one billion shares on the basis of two new shares for every one existing share held. The entitlement date will be announced after all necessary approvals are obtained, the company said in a filing with Bursa Malaysia on Thursday. The exercise is aimed at increasing shareholder participation in the company’s equity while improving trading liquidity and marketability of its shares. For illustration, the theoretical ex-bonus price is estimated at RM1.1420 based on the five-day volume-weighted average market price (VWAMP), and RM1.1267 based on the lowest daily VWAMP over the three-month period up to April 8. Formerly known as Ideal United Bintang International Bhd, Ideal Capital is controlled by executive chairman Tan Sri Alex Ooi Kee Liang, who holds about 56% of the company together with his wife, executive director Puan Sri Phor Li Wei, via ICT Innotech Sdn Bhd. The company’s issued share capital currently stands at RM543.46 million, comprising 500 million shares. M&A Securities Sdn Bhd has been appointed as principal adviser for the bonus issue, which is expected to be completed by the third quarter of 2026. For the financial year ended Dec 31, 2025, Ideal Capital posted a 74.8% increase in net profit to RM158.43 million, while revenue rose 33.2% to RM1.24 billion. Shares of Ideal Capital last traded at RM3.50, valuing the group at RM1.75 billion.

Velesto Energy Bhd announced a series of board changes on Thursday, including the resignation of non-independent and non-executive director Fadzihan Abbas Mohamed Ramlee. In a filing with Bursa Malaysia, the group said the resignation was made in line with changes to Permodalan Nasional Bhd’s (PNB) nominee representation on the board. In a separate filing, Nadzrin Alia Md Aziz, who had served as alternate director to Fadzihan since her appointment in September 2023, has been appointed as a non-independent and non-executive director of the oil and gas company. Nadzrin, 36, is currently assistant vice-president of strategic investment at PNB, while Fadzihan serves as group chief sales and distribution officer at the fund. Following the changes, the board’s strategic committee comprises chairman Dr Mohd Shahreen Zainooreen Madros, along with members Haida Shenny Hazri, Alan Hamzah Sendut, and Ainul Azhar Ainul Jamal. Velesto shares closed up one sen or 2.9% at 35 sen on Thursday, valuing the group at RM2.88 billion.

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.