Investment & Market Trends

KUALA LUMPUR (Oct 9): CIMB Group Holdings Bhd has launched the CIMB OCTO Biz app, a new digital banking platform designed specifically for small and medium enterprises (SMEs), alongside the introduction of a revenue-based financing solution, SME FlexiCash/-i. From left: CIMB Group Holdings Bhd co-CEO of group commercial and transaction banking Ahmad Shazli Kamarulzaman, group CEO and ED Novan Amirudin, Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz, CIMB group chairman Datuk Syed Zaid Albar, and co-CEO of group commercial and transaction banking Lawrence Loh. The twin launches, announced at the ASEAN SME Economic Conference on Thursday, mark a major milestone in CIMB’s push to enhance digital banking accessibility and provide more flexible financing options for growing businesses. According to CIMB, the OCTO Biz app integrates essential banking services with business management tools, offering SMEs a single digital hub for real-time cash flow monitoring, trade and foreign exchange (FX) services, and AI-powered financial insights. The app also supports cross-border transactions across ASEAN countries, enabling entrepreneurs to manage multi-market operations seamlessly. Additional features include digital cash flow tracking and access to up to 18 months of transaction history, compared to the standard 12 months available on conventional banking channels. CIMB group chief executive officer Novan Amirudin said the initiative underscores CIMB’s commitment to supporting business transformation and financial inclusion. “We see banking as a strategic enabler of growth and transformation. Our focus is to equip businesses and communities with the tools and insights to thrive in a dynamic economy,” he said. Meanwhile, the newly introduced SME FlexiCash/-i offers SMEs greater flexibility by linking loan repayments to a percentage of their monthly revenue, instead of fixed monthly instalments. Lawrence Loh, CIMB’s co-chief executive officer of group commercial and transaction banking, said the revenue-based approach would benefit SMEs with variable or seasonal income. “This gives customers flexibility compared to the traditional repayment model. It opens up access to financing for many micro and small businesses that might otherwise face challenges in securing credit,” he explained. Eligible businesses with at least six months of banking history with CIMB can access pre-qualified financing directly via the app, with options to customise loan amounts and tenures before confirming the offer. During the launch, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said such initiatives would empower local SMEs to enhance efficiency and competitiveness. “We need SMEs to elevate their processes so they can integrate more seamlessly into global supply chains and strengthen their market presence,” he said. CIMB revealed that more than half of its SME clients are already using OCTO Biz, with over seven million transactions worth RM17 billion recorded so far in 2025. The app’s full suite of features will be made available by the end of the year. As part of its “Kita Bagi Jadi” campaign, CIMB aims to make online account opening fully digital for sole proprietors and SMEs by late 2025, eliminating the need for in-branch visits. Following its rollout in Malaysia, CIMB plans to extend OCTO Biz to Indonesia and Singapore by mid-2026, before introducing it to other ASEAN markets. The launch was officiated by Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick, together with CIMB group chairman Datuk Syed Zaid Albar.

Foundation Healthcare, a Singapore-based medical group backed by Temasek Holdings Pte Ltd, is reportedly weighing plans for an initial public offering (IPO) that could value the company at over US$1 billion (RM4.22 billion), according to people familiar with the discussions. Sources said the healthcare group has begun engaging potential financial advisers to explore the feasibility of a listing, which could take place as early as next year. The IPO could raise as much as US$300 million, though the final valuation, offering size, and timeline remain under review and subject to market conditions. The deliberations are still at an early stage, and details of the proposed offering could change, the sources added, requesting anonymity as the matter is private. Foundation Healthcare, established in 2023, focuses on expanding and operating integrated healthcare services across Asia, including specialty clinics, diagnostic centers, and advanced medical facilities. The company was launched with an initial US$150 million investment from SeaTown Holdings Pte Ltd, an investment firm affiliated with Temasek Holdings. The funding was aimed at accelerating its regional growth through acquisitions and partnerships in key healthcare markets. Both Foundation Healthcare and SeaTown Holdings have declined to comment on the IPO plans. If the listing proceeds, it would mark one of Singapore’s largest healthcare-related IPOs in recent years and reinforce the city-state’s position as a growing hub for healthcare and life sciences investments in Southeast Asia. Singapore’s equity market has seen renewed momentum in 2025. According to Bloomberg data, the country has hosted seven IPOs so far this year, raising around US$1.5 billion, the highest total in at least five years. This represents a sharp rebound from 2024, when only one company went public, raising just US$19.5 million. Analysts said the potential IPO of Foundation Healthcare reflects investor confidence in the region’s healthcare sector, which continues to benefit from rising demand for quality medical services, aging populations, and technological innovation in healthcare delivery. If successful, the listing could also pave the way for other healthcare startups and private groups in Singapore to explore similar routes to access public capital markets.

PETALING JAYA, Sarawak-based tech solutions provider Insights Analytics Bhd plans to raise RM43.6 million from its upcoming ACE Market listing on Bursa Malaysia. From left: M&A Securities Sdn Bhd head of corporate finance Gary Ting, Sarawak Deputy Premier Datuk Amar Professor Dr Sim Kui Hian, Insights Analytics Bhd chairman Datuk Abdul Wahab Aziz, Sarawak Premier Tan Sri Abang Abdul Rahman Zohari Tun Abang Openg, Insights Analytics managing director Frank Wee, M&A Equity Holdings Bhd managing director Datuk Bill Tan and Insights Analytics executive director Bong Joon Fook. In a statement, the company said RM22.2 million (50.9%) of the proceeds will go towards working capital for current and future projects, especially in smart water management and Sarawak’s smart city initiatives. Managing director Frank Wee said the funds will help strengthen liquidity and support business expansion. “Our water technology segment is set to benefit from growing demand for operational efficiency, reduced non-revenue water, and government-backed digitalisation in water resource management,” he said. The funds will cover costs for subcontractors, IoT devices, consumables, and the construction of a water treatment facility. Another RM9 million (20.7%) will go towards investments and acquisitions to expand its core business and enhance its technology capabilities, while RM4.4 million (10.1%) will fund the expansion of its Sarawak corporate office, including a mini data centre. As of Sept 8, the company’s unbilled order book stood at RM35.3 million, expected to be recognised over the next six years. For FY2025, Insights Analytics reported RM49.6 million in revenue and RM19 million in net profit, with strong margins of 59.8% gross and 38.2% net. The IPO comprises 121 million new shares and 27.5 million existing shares for sale, representing 27% of its enlarged share capital. At RM0.36 per share, Insights Analytics will have a market value of RM198 million upon listing on Oct 27. M&A Securities Sdn Bhd is the adviser, sponsor, underwriter, and placement agent for the IPO.

KUALA LUMPUR, MM Computer Systems Bhd, a Malaysian IT services provider, is preparing for a listing on the ACE Market to raise funds for procurement and business expansion. According to its draft prospectus, the company aims to pursue higher-value contracts and broaden its product and service offerings in line with evolving technology trends. These projects often require substantial upfront purchases of hardware and software, as well as significant working capital for tender compliance, technical mobilisation, and project initiation. Based in Kuala Lumpur, MM Computer provides computer infrastructure design, networking, cybersecurity solutions, maintenance, technical support, and hardware and software sales and leasing. Its clients include government-linked companies, corporates, and resellers. The company currently has 120 active contracts with total unrecognised revenue of RM76.55 million and reported a net profit of RM8.7 million on RM73.7 million revenue last year. Proceeds from the IPO, pricing of which is yet to be determined, will fund workforce expansion—including hiring a sales director and 10 technicians—staff training, repayment of bank borrowings, and listing expenses. Part of the funds will also come from the sale of existing shares by CEO Young Yoong Chang, executive director Lee Choon Weng, and head of business development Quah Soo Keat. Malacca Securities serves as principal adviser, sponsor, underwriter, and placement agent for the IPO, while SCS Global Advisory is the corporate finance advisor.

SINGAPORE, Malaysia’s MMC Port Holdings has postponed its planned initial public offering (IPO) to 2026 to include its full-year 2025 financial results, according to two sources familiar with the matter. The IPO, originally scheduled for the fourth quarter of 2025, was expected to raise over US$1.5 billion (RM6.3 billion), potentially becoming the largest Malaysian IPO since IHH Healthcare’s US$2.1 billion debut in 2012 and giving a boost to the domestic capital market. Sources said the company is reviewing the timing of the listing to provide more complete financial disclosures and reflect recent industry and operational developments. A revised timeline will be announced in due course. Despite the delay, investor interest in the offering remains strong, one source noted. MMC Port received regulatory approval for its listing in September. The IPO will involve an offer for sale of up to 4.3 billion existing shares—around 30% of its total 14.2 billion shares—by its sole shareholder, MMC Corp. No new shares will be issued, meaning the port company itself will not receive proceeds from the sale. MMC Corp, which was taken private in 2021 by Tan Sri Syed Mokhtar Al-Bukhary, will retain a 70% stake post-listing. As Malaysia’s largest port operator, MMC Port runs five ports along the Strait of Malacca, three cruise terminals, a solid product jetty terminal, and provides ship-to-ship transfer services. In 2024, the company reported a net profit of RM636.6 million on revenue of RM4.36 billion.

TOKYO, French-Italian eyewear giant EssilorLuxottica has received approval to raise its stake in Japan’s Nikon Corp to as much as 20% under Japan’s Foreign Exchange and Foreign Trade Act, Nikon announced on Monday. EssilorLuxottica, the maker of Ray-Ban sunglasses, has also increased its shareholding to 10.8% from 9.6%, becoming Nikon’s largest shareholder. Nikon — known for its cameras, lenses, and chipmaking equipment — is classified as a “core” company for national security by Japan’s finance ministry. EssilorLuxottica first formed a lens joint venture with Nikon in Tokyo in 2000 and has been gradually increasing its stake since last year, driving a rally in Nikon’s shares, which rose 5% on Monday. The eyewear group is also collaborating with Meta to develop smart glasses, expanding its reach into next-generation wearable technology. The move comes amid rising foreign interest in Japanese tech firms. Recently, Taiwan’s Yageo Corp won approval to acquire thermistor maker Shibaura Electronics after a national security review.

Tata Capital Ltd has begun taking orders for its initial public offering (IPO), which could raise up to 155 billion rupees (US$1.7 billion or RM7.4 billion) — making it India’s largest IPO so far this year and setting the stage for a record month in the country’s IPO market. The financial services arm of the Tata Group is offering shares at between 310 and 326 rupees each until Wednesday, valuing the company at up to 1.4 trillion rupees. Trading is expected to start on Oct 13. At that valuation, Tata Capital would be worth more than twice HDB Financial Services Ltd, which listed earlier this year. The IPO will be followed closely by another billion-dollar listing — LG Electronics Inc’s Indian unit — underscoring growing investor confidence and strong liquidity in India’s capital markets. Together, new listings could push India’s October IPO proceeds beyond US$5 billion. “There is now ample capacity to absorb supply,” said Raghuram K, partner at Uniqus Consultech, citing strong mutual fund inflows that continue to fuel investment appetite. Tata Capital’s offering comprises up to 475.8 million new and existing shares sold by the company, its parent, and International Finance Corp. As of 10.30am Monday in Mumbai, the issue had received bids for 9% of the shares offered, according to BSE data. Ahead of the IPO, Tata Capital raised 46.4 billion rupees from anchor investors including Morgan Stanley, Goldman Sachs, Nomura, and Life Insurance Corp of India. The deal gives investors exposure to the Tata Group’s financial services arm, marking India’s biggest IPO since Hyundai Motor India Ltd’s US$3.3 billion debut last year. Founded in 2007, Tata Capital offers a wide range of financial services to retail, corporate, and institutional clients. As of June 2025, it managed assets worth 2.33 trillion rupees, serving 73 million customers. Analysts at ICICI Direct said Tata Capital’s diversified portfolio and steady growth make it an appealing long-term investment. At the top of the pricing range, Tata Capital would trade at 3.4 times book value — cheaper than rivals such as Bajaj Finance Ltd, Cholamandalam Investment & Finance Co, and HDB Financial Services, according to SBI Securities. India’s IPO boom reflects strong corporate expansion, deep domestic liquidity, and growing retail participation. Despite some cooling in stock market momentum this year, India remains one of the world’s most active IPO markets, ranking fourth globally with US$11.2 billion raised as of the third quarter. JPMorgan, JM Financial, and Kotak Mahindra Capital expect the trend to continue, supported by regulatory easing that encourages large private firms to list and more flexible financing rules for IPO investors.

KUALA LUMPUR, ACE Market-listed HHRG Bhd has proposed a bonus issue of up to 491.68 million warrants, on the basis of two warrants for every five existing shares held. The warrants will be issued at no cost to shareholders and will not raise immediate funds. The amount of funds raised will depend on the number of warrants exercised during the exercise period. According to the biomass company’s filing on Monday, the exercise price and entitlement date will be determined later. Based on an illustrative exercise price of eight sen per warrant, the full exercise could raise up to RM39.33 million, which would be used for working capital purposes. Malacca Securities Sdn Bhd has been appointed as the principal adviser for the exercise, which is expected to be completed by the fourth quarter of 2025. HHRG’s largest shareholder is the Ch’ng family through Cfamillie Holdings Sdn Bhd with a 15.31% stake, followed by GH Consortium Sdn Bhd — linked to former executive chairman Datuk H’ng Choon Seng and Goh Boon Leong — holding 11.94%. In May, HHRG changed its financial year-end from March 31 to Sept 30. It later reported a net loss of RM2.15 million for the three months ended March 31, 2025, compared to a net profit of RM256,000 a year earlier, mainly due to one-off legal and fair value expenses. For the quarter ended June 30, 2025, the group posted a net profit of RM1.73 million, down from RM5.98 million previously, as revenue slipped slightly to RM30.4 million from RM31.03 million. HHRG’s shares closed 1.5 sen lower at 8.5 sen on Monday, valuing the company at RM89.11 million.

KUALA LUMPUR, Lion Industries Corp Bhd said it remains committed to its steel business and is exploring partnerships to revitalise its two Amsteel Mills plants amid a challenging market environment. In a filing with Bursa Malaysia, the group clarified that it has no plans to shut down Amsteel Mills permanently, except for upgrading works to improve efficiency. According to the group, the Bukit Raja plant — which has been operating since 1978 — will undergo upgrades with new machinery and processes to enhance efficiency and competitiveness. Lion Industries is also in discussions with potential strategic partners to bring in advanced technology and expertise. “This will make the plant more efficient, cost-competitive, and better aligned with market demands,” the company said. Meanwhile, operations at its Banting plant have been temporarily suspended due to high operating costs, including a recent rise in electricity tariffs that made production uneconomical. The company is exploring partnerships to introduce new processes and products to restart the facility. An announcement will be made once a suitable partner is identified, it added. Lion Industries, which is also involved in property development and building materials, saw its shares close two sen or 10.26% lower at 17.5 sen on Monday — a two-month low — valuing the company at RM122.49 million. Year to date, the stock has fallen nearly 24%.

KUALA LUMPUR, Cheeding Holdings Bhd, a utilities engineering firm set to debut on Bursa Malaysia’s ACE Market on Tuesday, has secured a RM33.94 million contract from Tenaga Nasional Bhd to build a power supply link for a data centre in Johor. The project, located in Tropicana Development, Gelang Patah, will support a data centre developed by Computility Technology Sdn Bhd, an indirect subsidiary of Beijing-based ZData Technologies Co Ltd. The contract began on Oct 2 and is expected to be completed within 240 days. Cheeding said the deal will positively impact its future earnings. Cheeding’s initial public offering (IPO) — involving 143 million new shares and 65 million offer-for-sale shares at 36 sen each — received strong demand, with public applications oversubscribed by 40.87 times and full subscription from private placements. The IPO will raise RM75 million, with RM51 million going to the company for working capital, loan repayments, and performance bonds. The remainder will go to managing director Ng Kian Chai and his spouse, Tan Sook Hoi, through the sale of their shares. At the issue price of 36 sen per share, Cheeding will debut with a market value of RM287.01 million. Based on its FY2025 net profit of RM26.35 million, the stock is valued at about 10.9 times earnings.