Investment & Market Trends

Seni Jaya Corporation Bhd has seen the emergence of two new substantial shareholders following the completion of its acquisition of outdoor advertising company Vision OOH Sdn Bhd. Lawrence John Cannard was issued 43.55 million new shares in Seni Jaya, representing a 16.03% stake, while Chong Yan Moy received 14.52 million shares, or a 5.35% stake. The Vision OOH acquisition, first announced in February last year, was fully settled through the issuance of new shares at 31.6 sen each, valuing the deal at RM18.35 million. In a separate development, Seni Jaya said it has mutually agreed with vendors to extend the deadline for fulfilling conditions precedent for its proposed acquisition of Unilink Outdoor Sdn Bhd to June 19. The Unilink deal is valued at RM39.5 million, to be satisfied through RM11.85 million in cash and the remainder via share issuance at 31.6 sen per share. Unilink is owned by Seni Jaya’s major shareholder and executive director Ong Kah Hoe. Based on the company’s circular, Ong’s stake is expected to increase to 23.61% from 6.23% upon completion of the acquisitions and a private placement exercise. Following the corporate exercises, Cannard’s stake is expected to be diluted to 10.29%, while Chong’s holding is projected to fall to 3.43%. Meanwhile, Seni Jaya’s largest shareholder, Datin Lee Nai Yee, is expected to see her stake reduced to 6.05% from 11.98% after completion of the exercises. The company’s financial performance has continued to improve. For the six months ended Dec 31, 2025, Seni Jaya posted revenue of RM44.9 million, up 22% year-on-year from RM36.8 million, while profit before tax rose 18% to RM10.6 million. The stronger performance was driven by higher billboard occupancy rates, disciplined cost control and improved execution across its asset base. The group said it remains focused on strengthening its market position through portfolio expansion and integration. The planned acquisitions of Unilink Group, Vision OOH and Ganad Media are expected to expand its nationwide footprint, enhance its premium inventory and create operational synergies for long-term growth. Seni Jaya shares closed down 0.5 sen, or 0.9%, at 54.5 sen on Thursday, valuing the group at RM116.38 million. The stock has gained 75.8% over the past year.

Tanco Holdings Bhd has revised the structure of its proposed smart AI container port in Port Dickson, replacing an earlier long-term lease arrangement with a port development concession (PDC) model. The new structure formalises the project under a concession framework while maintaining the original payment terms and tenure of up to 98 years. In a Bursa Malaysia filing on Thursday, the property developer said its 79%-owned subsidiary Midports Holdings Sdn Bhd (MHSB) and 80%-owned unit MBINS Ventures Sdn Bhd (MVSB) have signed a supplemental heads of agreement with Menteri Besar Negeri Sembilan (Pemerbadanan) (MBINS), amending terms from the original agreement signed in November last year. The project involves developing a smart container port on about 180 acres of submerged land in Dickson Bay, Negeri Sembilan. The broader Midport development spans a 480-acre land bank owned by Tanco, with natural deepwater access of more than 21 metres, capable of accommodating some of the world’s largest container vessels. The proposed port is positioned as an AI-driven and automated logistics hub, featuring smart cargo handling systems, green port technologies, and supporting logistics and industrial activities. Under the original structure, MVSB was to lease the land to MHSB for 98 years at a base rental of RM5 million per month, with payments starting three years after the agreement date or upon completion and commencement of port operations, whichever is later. This has now been replaced with a PDC structure, under which MVSB grants MHSB concession rights over the land for an initial 33 years, with two renewal options of 33 years and 32 years. The base concession fee remains RM5 million per month, payable in advance and subject to a 5% increase every five years. Payments will begin three years from the date of the supplemental agreement or upon completion and commencement of port operations, whichever comes later. As before, RM1 million from each monthly payment will be channelled directly to MBINS as its entitlement under the joint venture structure. Tanco said the revisions are not expected to have any material impact on earnings for the financial year ending June 30, 2026. In December, the company named CCCC Dredging Southeast Asia Sdn Bhd, a unit of China Communications Construction Company, as the proposed engineering, procurement, construction and commissioning contractor for the seaport component, with a package valued at up to RM3.53 billion. Construction is expected to take about three and a half years once it begins. Later that month, Hong Kong-based Ocean Bridge International Ports Management Co Ltd was appointed to operate the terminal and deploy AI and automation technologies across cargo handling, storage, logistics transport and related services. However, ownership and ultimate disposal rights of the terminal assets will remain with MHSB, which will also bear all profits and losses from port operations. Tanco shares slipped two sen, or 1.22%, to RM1.62 on Thursday, valuing the group at about RM9.94 billion. The stock has gained more than 37% year to date.

Tealive has shelved its initial public offering (IPO) plan for a second time due to weaker financial performance and rising competition in the beverage industry, including increased pressure from Chinese brands. The company said its latest full-year results fell below expectations. Founder and CEO Bryan Loo Woi Lip said the IPO plan remains on track and the group’s long-term strategy has not changed, describing the delay as a “timing issue” as the company focuses on improving performance and creating long-term shareholder value. Earlier on June 5, 2025, Tealive’s operating company Loob Holding filed a prospectus exposure with the Securities Commission Malaysia for a planned listing on Bursa Malaysia’s Main Market. Loob Holding had first considered an IPO in 2020, targeting up to RM300 million, but postponed the plan due to weak market conditions during the Covid-19 pandemic. The group operates more than 950 Tealive outlets and 140 Bask Bear stores across Malaysia and other markets, supported by a workforce of about 4,500 employees. Its portfolio also includes brands such as Croissant Taiyaki, Gindaco, Tearush, Wonderbrew and SodaXpress. The IPO delay comes as the company continues to expand its food and beverage footprint while navigating a more competitive market landscape.

Hata has raised a US$8 million (about RM31.6 million) Series A funding round led by Bybit, together with several global family offices, on April 20, 2026. The round also follows Bybit’s earlier participation in Hata’s US$4.2 million seed funding. Bybit co-founder and CEO Ben Zhou said the partnership aims to combine Hata’s local market strength with Bybit’s global expertise in technology and product innovation to grow Malaysia’s digital asset and tokenised real-world asset ecosystem. Hata said the new funding will be used to improve liquidity on its platform, expand its user base through marketing and ecosystem initiatives, and co-develop digital asset products tailored for Malaysian users with Bybit. Hata co-founder and CEO David Low said the collaboration will strengthen its local platform while leveraging Bybit’s global capabilities to expand opportunities for users in Malaysia. The funding round also included participation from global family offices focused on Southeast Asia’s technology and financial markets. Hata is a dual-licensed digital asset exchange regulated by the Securities Commission Malaysia and the Labuan Financial Services Authority. It competes with other local exchanges including Luno, MX Global and SINEGY.

JAG Capital Bhd (formerly KUB Malaysia Bhd) is selling its entire 30% stake in Sarawak-based oil palm company Sinong Sepadu Sdn Bhd for RM44.3 million, citing strategic differences with its joint venture partner. In a Bursa Malaysia filing, the group said its indirect subsidiary KUB Agro Holdings Sdn Bhd has signed a share purchase agreement with Sinong Enterprise Sdn Bhd, which holds the remaining 70% stake. Sinong Sepadu operates two oil palm estates in the Oya-Dalat Land District in Mukah, Sarawak, covering about 4,614.5 hectares. The deal values the company at about RM147.67 million, or roughly RM32,000 per hectare, and reflects a premium of 23.1% over the assessed value of JAG Capital’s stake based on an independent valuation. The group expects to record a pro-forma gain of about RM17.42 million from the disposal, which will strengthen its net assets and earnings position. JAG Capital said it decided to exit the investment due to its non-controlling stake and differing strategic priorities with its partner. Proceeds from the sale will be used for working capital and may also be placed in short-term investments while the group explores new opportunities. The transaction is expected to be completed by the third quarter of 2026, subject to approvals and conditions. JAG Capital, which has interests in LPG, cables, building materials and ICT, closed unchanged at 98.5 sen on Wednesday.

Steel products manufacturer Leform Bhd has signed a memorandum of understanding (MOU) with Japan’s Nippon Steel Trading Corporation (NSTC) to strengthen steel supply and support future business growth. In a filing with Bursa Malaysia, Leform said the collaboration will allow the company to increase its purchase of steel materials from NSTC and prioritise sourcing from NSTC and its Malaysian unit, NST Trading Malaysia Sdn Bhd. The group said both parties will also explore joint projects, while Leform may consult NSTC on procurement matters for future factory developments. Leform managing director Law Kok Thye said the partnership will strengthen the company’s strategic position and create new growth opportunities. He added that leveraging NSTC’s expertise and network would help improve operational efficiency and support long-term value creation. Under the agreement, Leform will also assist NST Trading Malaysia in engaging local steel suppliers and mills for commercial negotiations and export opportunities. Meanwhile, Nippon Steel and its Malaysian subsidiary will provide technical expertise to help Leform improve efficiency, profitability and safety across its operations. Leform said the partnership is expected to create a more stable supply chain, especially in managing raw material price volatility and supply shortages. The MOU follows NSTC’s RM25 million investment in Leform earlier this year for a 10% stake in the company.

Kumpulan Jetson Bhd is disposing of its adhesives and healthcare trading businesses for RM15.8 million as part of its plan to streamline operations and focus on its core automotive anti-vibration parts business. In a filing with Bursa Malaysia, the group said it has signed a share sale agreement with THH Electrical Engineering Sdn Bhd to sell its entire stake in wholly-owned subsidiary GRP Holdings Sdn Bhd. GRP Holdings owns businesses involved in adhesives, sealants, pharmaceutical products and medical devices. Kumpulan Jetson said the disposal is part of its efforts to become a more focused, agile and financially resilient company. The latest deal comes after an earlier RM14.8 million sale of GRP Sdn Bhd was terminated in March after conditions were not met. The group also cited a fire incident that damaged key factory assets and affected the earlier transaction. Under the new sale, RM3 million will be paid in cash, while the remaining RM12.8 million will be settled through the assumption of debts and intercompany loans. The cash proceeds will be used for working capital, including raw materials, production costs, staff expenses, utilities and logistics for its manufacturing units.

MTR Corp Ltd has raised HK$18.9 billion (US$2.4 billion or RM9.5 billion) through its first-ever public Hong Kong dollar bond issuance, as more borrowers tap into the city’s funding market. The Hong Kong government–backed public transport operator and property developer priced five-, 10- and 30-year green notes to finance or refinance eligible projects, according to a person familiar with the matter. The combined order book exceeded HK$60 billion. Historically, most Hong Kong dollar bond issuances have been private placements or unlisted deals, and MTR’s previous issuances in the currency were also unlisted. However, more issuers have recently turned to the public bond market as demand for Hong Kong dollar assets rises, supported by its perceived safe-haven status amid global geopolitical tensions. According to data compiled by Bloomberg, corporate and government issuers have raised HK$34.1 billion from publicly announced Hong Kong dollar bond deals so far this year, a record for the period. Market participants said the shift is being driven by lower funding costs compared to US dollar markets and strong investor demand for high-quality assets. Analysts noted that Hong Kong dollar investments have traditionally been dominated by private placements and certificates of deposit, which tend to be held to maturity. A rise in high-quality issuers could improve market liquidity and broaden investor participation. Recent issuances in the market include bonds from Germany’s KfW development bank, the Asian Infrastructure Investment Bank, and the African Development Bank.

Malaysia has introduced a RM5 billion loan facility to assist small and medium enterprises (SMEs) and other affected sectors facing pressure from the global energy crisis. Prime Minister Datuk Seri Anwar Ibrahim announced the special relief facility after chairing a roundtable discussion with financial institutions on Tuesday. He said further details of the financing programme will be announced by Bank Negara Malaysia (BNM) soon. The new loan facility, together with an additional RM5 billion in financing guarantees under Syarikat Jaminan Pembiayaan Perniagaan (SJPP), forms part of broader government efforts to support micro, small and medium enterprises (MSMEs). Anwar said the total SJPP guarantee allocation has now been increased to RM10 billion. Guarantee coverage has also been raised from 70% to 80%, while the repayment period has been extended from seven years to 10 years. He said the measures are aimed at reducing the impact of global uncertainties, including geopolitical tensions, while supporting continued economic growth. Priority will be given to SMEs in sectors such as logistics, agriculture and construction. Support will also be extended to micro-entrepreneurs, including small traders, farmers and food operators. Anwar also called for faster approval processes under existing financing schemes, including SJPP, to ensure businesses receive assistance without delay. Earlier this week, the government also announced a one-year postponement of e-invoicing implementation for businesses with annual sales between RM1 million and RM5 million, extending the deadline to Dec 31, 2027. In addition, temporary import duty and sales tax exemptions will be given until year-end for Malaysian goods reimported due to supply chain disruptions linked to the Middle East conflict. Separately, Anwar said the government will soon unveil additional measures to improve job opportunities, especially for graduates and job seekers. He added that Malaysia’s economic fundamentals remain strong, with growth projected at 4% to 5% this year despite global challenges. He also highlighted continued investment momentum in sectors such as electrical and electronics (E&E), data centres and artificial intelligence (AI).

A unit of Sinopec has sold 8.5 million Hong Kong-listed shares in Chinese battery giant CATL for about US$770 million, according to a term sheet released on Wednesday. The move allows Sinopec to capitalise on CATL’s strong stock market performance. The shares were sold through an accelerated bookbuild at HK$708 each, representing a discount of about 3.8% from CATL’s Tuesday closing price of HK$736. Goldman Sachs acted as the sole placing agent for the transaction. Following the sale, Sinopec (Hong Kong) also agreed to a 90-day lock-up period on its remaining CATL stake. Based on market data, Sinopec previously held about a 9.45% stake in CATL’s Hong Kong share capital. The 8.5 million shares sold account for around 5.5% of CATL’s Hong Kong-listed shares in issue. The selldown comes after CATL’s Hong Kong-listed stock nearly tripled from its May 2025 listing price of HK$263. Shares have also risen 46.9% so far this year, giving the company a market capitalisation of around US$304 billion. CATL is one of the world’s largest electric vehicle battery manufacturers, supplying major automakers such as Tesla, BMW, Volkswagen, Xiaomi and Nio. The company raised about US$4.6 billion in its Hong Kong listing, the largest IPO globally that year, with most proceeds earmarked for a new battery plant in Hungary as part of its international expansion plans. Earlier this year, CATL reported fourth-quarter and full-year 2025 profits that exceeded market expectations. Reuters also reported that the company is exploring another Hong Kong equity fundraising exercise that could raise around US$5 billion, although details remain under review.