Investment & Market Trends

KUALA LUMPUR, MMC Port Holdings Bhd (MMC Ports) has received approval from the Securities Commission Malaysia (SC) to proceed with its listing on the Main Market of Bursa Malaysia Securities Bhd. As part of its initial public offering (IPO), MMC Ports will offer up to 4.3 billion shares, representing around 30% of its issued share capital of 14.2 billion shares. Of this, 284.8 million shares will be allocated to the Malaysian public, while 1.3 million shares will be reserved for the company’s directors and key senior management. The balance of up to four billion shares will be offered to Malaysian and foreign institutional investors as well as selected investors. Malaysia’s largest container port operator said the listing marks a natural step forward in strengthening its corporate profile and increasing visibility within the investment community. Chief executive officer Datuk Azman Shah Mohd Yusof said, “We look forward to entering this new phase of our journey. Beyond strengthening our market presence, we are also exploring strategic partnerships and expansion opportunities to leverage the growth in global trade, the relocation of manufacturing activities, and the reorganisation of global supply chains.” CIMB Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner, sole managing underwriter and joint underwriter for the IPO. The Hongkong and Shanghai Banking Corporation Ltd (HSBC) Singapore Branch will also act as joint global coordinator and joint bookrunner. Other joint bookrunners include AmInvestment Bank Bhd, Bank Muamalat Malaysia Bhd, CGS International Securities Malaysia Sdn Bhd, CLSA Ltd, CLSA Securities Malaysia Sdn Bhd, Jefferies Singapore Ltd, Kenanga Investment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd.

KUALA LUMPUR, JF Technology Bhd (JF Tech), through its 75%-owned indirect subsidiary ATS Technology Services Sdn Bhd (ATSSB), has signed a shareholders’ agreement to acquire a 13% stake in California-based ATS Technology Services Inc (ATSI) for US$1.3 million (RM5.46 million). In a filing with Bursa Malaysia, JF Tech said the investment is aimed at setting up a semiconductor automatic test equipment (ATE) test cell business in the United States. “The proposed investment will create strong synergies for JF Tech, especially in its test engineering solutions segment. Alongside our recent acquisition of Q3 Probe Pte Ltd, which specialises in front-end wafer testing, the new test cell venture will strengthen our semiconductor value chain and extend our footprint in the US market,” the group said. Upon completion, ATSI will be owned 87% by Paul Anthony Emmett and Susan Emmett, with the remaining 13% held by ATSSB. Under the arrangement, ATSSB will manage procurement and logistics for semiconductor test parts and components, while ATSI will work directly with US clients, offering product adoption, support and troubleshooting. JF Tech added that the investment will be financed through internally generated funds and inter-company borrowings from its wholly-owned subsidiary, JF International Sdn Bhd. The group noted that the exercise will not affect its share capital or major shareholders’ equity and is not expected to have a material impact on its net assets per share or earnings per share for the financial year ending June 30, 2026.

KUALA LUMPUR, The Singapore Exchange (SGX) has rolled out two new indexes as part of its efforts to enhance market offerings and stimulate stronger investor participation. The exchange said the new benchmarks are aimed at meeting rising demand from both institutional and retail investors seeking diversified exposure to Asia’s fast-evolving markets. The indexes will serve as performance trackers for specific market segments and are expected to support the development of new financial products, including exchange-traded funds (ETFs) and other structured instruments. In a statement, SGX said the move underscores its commitment to innovation and to providing investors with relevant tools for portfolio diversification. “By introducing these new indexes, SGX is not only broadening its suite of investment benchmarks, but also creating opportunities for more trading activity and product development in the region,” the bourse noted. Market analysts believe the launch could attract stronger participation from fund managers and product issuers, potentially deepening liquidity and reinforcing Singapore’s position as a regional financial hub. The two new indexes are now available for benchmarking and investment product creation.

PETALING JAYA, QL Resources Bhd is expected to face a challenging outlook for its financial year ending March 31, 2026 (FY26), as headwinds in its integrated livestock farming and convenience store segments weigh on earnings growth, according to analysts. Maybank Investment Bank Research (Maybank IB) said the group’s second-quarter performance will likely show weaker profit before tax margins from its livestock segment, following the full removal of egg subsidies on Aug 1. The subsidies, previously set at 10 sen per egg, were halved on May 1 and removed entirely in August. “So far, the group has only been able to raise average egg prices by five sen each. However, tight industry supply has prevented a decline in volumes,” Maybank IB said. The research house noted that a stronger ringgit against the US dollar and stable feed prices for corn and soybean may help cushion costs in the livestock business. Meanwhile, QL’s marine products manufacturing segment is expected to remain the key earnings driver in FY26. Despite challenges from weak fish landings and soft fishmeal demand, demand and pricing for surimi and frozen surimi-based products should stay steady. Its Indonesian surimi plant, currently running at around 20% utilisation, is also expected to ramp up sales through expanded marketing efforts. On the other hand, the convenience store business faces continued pressure, with low sales per outlet compounded by higher costs from the minimum wage hike, the sales and service tax on leases, and rising utility bills. In the palm oil and clean-energy division, growth is set to come mainly from renewable energy via its stake in BM Greentech Bhd, driven by new solar and other clean-energy projects. QL also intends to exit the plantation sector by disposing of its last palm oil mill and estate in Sabah. Looking ahead, Maybank IB said potential upside could come from faster-than-expected capacity growth in surimi or egg production, stronger domestic consumer spending, or higher export demand for marine products.

KUALA LUMPUR, Powertechnic Group Bhd has signed an underwriting agreement with TA Securities Holdings Bhd ahead of its planned initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. The crane, hoist, and elevator systems provider said the IPO will comprise a public issue of 63 million new ordinary shares — equivalent to 20.3% of its enlarged issued share capital — along with an offer for sale of 21 million existing shares, or 6.77% of the enlarged share base. From left: Powertechnic Group Bhd executive director Choo Chee Yong, Powertechnic managing director Ivan Na Keh Chai, TA Securities Holdings Bhd executive director – operation Tah Heong Beng and TA Securities head of corporate finance Ku Mun Fong. Of the 63 million new shares, 15.6 million will be allocated to the Malaysian public, 10 million to eligible directors, employees and contributors, and 19.6 million through private placement to selected investors. Meanwhile, the 21 million existing shares will be offered via private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). Under the agreement, TA Securities will underwrite the 15.6 million new shares reserved for the Malaysian public and pink form applications. It will also serve as the principal adviser, sponsor, underwriter and placement agent for the IPO. Powertechnic Group managing director Ivan Na Keh Chai said proceeds from the listing will be channelled into automation for fabrication processes, as well as the establishment of new product showrooms and sales offices with storage facilities in Penang and Sarawak. “These initiatives will help us strengthen our brand presence in key markets such as northern Peninsular Malaysia, East Malaysia, Singapore and Indonesia, ensuring we continue to provide reliable lifting solutions to customers,” he said.

KUALA LUMPUR, Cambrian Fund, backed by the founders of ViTrox Corp Bhd, has made its first investment in Nvsion Sdn Bhd, a Malaysian startup specialising in artificial intelligence (AI)-driven automated optical inspection (AOI) solutions. In a statement, Nvsion announced it has closed a multi-million ringgit funding round with Cambrian Fund as the sole investor. The Cambrian Fund also lists Khazanah Nasional Bhd as its investor through its RM1 billion Dana Impak. Launched in July, Cambrian Fund was established by Penang-based ViTrox’s founders in partnership with regional SME-focused private equity firm Southern Capital Group. The fund is managed by Southern Capital and also counts Khazanah Nasional Bhd as an investor via its RM1 billion Dana Impak programme. Nvsion develops advanced AOI solutions designed to deliver high precision, better quality control, and improved efficiency for the outsourced semiconductor assembly and test (OSAT) and electronics manufacturing services (EMS) sectors. The company also sees opportunities in advanced electronics, automotive, and medical device manufacturing. Its proprietary Synthia Vision AI Platform combines AI with rule-based algorithms to power high-speed industrial applications. The fresh capital will be used to scale Nvsion’s growth in product development, talent recruitment, and customer expansion. “Securing this first round of funding is a defining milestone for Nvsion,” said managing director and founder Jeffrey Chung. “With Cambrian Fund’s support, we are confident in delivering stronger innovation, expanding our global customer base, and contributing to Malaysia’s role in advanced manufacturing.” Southern Capital CEO Kenneth Tan added that Nvsion’s software-first approach to machine vision is well-positioned to drive impact in the fast-growing Industrial 4.0 space. “We are confident in their potential to scale into a market leader and look forward to supporting their journey,” he said.

KUALA LUMPUR, AEON Credit Service (M) Bhd has successfully completed the issuance of its 10th senior sukuk worth RM600 million, marking another milestone under its sukuk wakalah programme. The issuance carries a tenure of seven years. In its filing with Bursa Malaysia, the company said the sukuk proceeds will be channelled primarily towards financing disbursements that comply with Shariah principles, reflecting AEON Credit’s continued commitment to Islamic financing solutions. The fresh funds will also be utilised to refinance existing borrowings, including earlier loans and previously issued sukuk, in line with its capital management strategy. AEON Credit highlighted that all proceeds raised under the sukuk wakalah programme are required to adhere strictly to Shariah compliance, ensuring that its funding framework remains aligned with Islamic financial standards. “The successful issuance of this sukuk underscores investor confidence in AEON Credit’s financial strength and long-term growth potential. It also provides us with the liquidity to support our financing portfolio and expand our range of shariah-compliant offerings,” the company said. The latest issuance is part of AEON Credit’s broader funding initiatives aimed at strengthening its balance sheet, optimising its capital structure, and supporting sustainable growth in Malaysia’s competitive consumer and SME financing markets.

KUALA LUMPUR, Bilateral trade between Malaysia and Kazakhstan is projected to climb to US$1 billion annually within the next three to four years, driven by robust growth and expanding cooperation across multiple sectors. Kazakhstan’s Minister of Trade and Integration, Arman Shakkaliev, said trade turnover in the first half of 2025 surged nearly 46 per cent year-on-year to US$98.9 million. During the period, Kazakhstan’s exports to Malaysia more than tripled to US$2.8 million, while imports grew to US$96.1 million. “These figures highlight the strong interest of our business communities and the vast potential for further collaboration,” he told Bernama at the Malaysia International Halal Showcase (MIHAS) 2025. He said Kazakhstan traditionally exports ores, metals, coal, and agro-industrial products, while Malaysia’s main exports to Kazakhstan include palm oil, coffee and tea extracts, household appliances, and electronics. “This shows broad opportunities to diversify and deepen cooperation. Kazakhstan has the capacity to increase supplies of non-resource goods to Malaysia, with high potential in metallurgy, food, engineering, chemicals, transport, and construction materials. Our export potential to Malaysia alone exceeds US$30 million,” Shakkaliev added. He stressed that Malaysia is a key partner for Kazakhstan in Southeast Asia, serving as a vital gateway to ASEAN. For the first time, Kazakhstan has sent a trade and economic mission to MIHAS, comprising 20 companies showcasing products such as meat, honey, flour, pasta, vegetable oils, powdered camel milk, beverages, cosmetics, personal care items, and textiles. “This reflects Kazakhstan’s focus on expanding non-resource exports and offering high-quality, value-added products that meet global demand for environmentally friendly goods,” he said. At MIHAS 2025, Kazakhstan also set up a national pavilion to highlight its competitive products and strengthen partnerships with Malaysian importers, distributors, and retailers. Meanwhile, Malaysia External Trade Development Corporation (MATRADE) chairman Datuk Seri Reezal Merican Naina Merican said bilateral trade hit US$142 million in 2024, up 35.7 per cent from the previous year. Malaysia’s exports grew 13.4 per cent to US$116.2 million, while imports from Kazakhstan jumped more than tenfold to US$25.8 million. “Within Central Asia, Kazakhstan stands as Malaysia’s top trading partner, leading export destination, and largest import source—underscoring its central role in our regional trade ties,” Reezal Merican noted. He added that nine Kazakh firms joined the International Sourcing Programme (INSP) at MIHAS 2025, alongside 19 exhibitors, showing Kazakhstan’s determination to tap into new opportunities in Malaysia’s dynamic market. The event also saw the signing of a memorandum of understanding (MoU) between MATRADE and QazTrade, Kazakhstan’s national development institute for non-resource exports. The agreement will enhance trade facilitation, market intelligence sharing, and business collaboration between both countries.

KUALA LUMPUR, Sunsuria Bhd has established a sukuk programme of up to RM500 million to strengthen its funding base and support future business expansion. In a filing with Bursa Malaysia, the property developer said the Islamic medium-term notes programme (Sukuk Wakalah) has a tenure of 30 years from the date of first issuance. The sukuk will be issued from time to time, subject to market conditions, and the proceeds will be utilised to refinance existing borrowings, fund working capital, and finance new projects in line with the group’s growth strategy. “The establishment of this sukuk programme provides Sunsuria with greater financial flexibility, diversification of funding sources, and the ability to better match long-term funding requirements with the group’s development pipeline,” it said. The sukuk has been assigned a preliminary rating of A+IS by Malaysian Rating Corporation Bhd (MARC Ratings), reflecting the group’s credit profile and project delivery track record. Analysts said the sukuk issuance is timely, as Sunsuria continues to pursue township developments and niche property projects while seeking to enhance recurring income streams. Sunsuria added that the programme will not have any immediate material effect on its earnings or net assets but is expected to contribute positively over the medium to long term.

KUALA LUMPUR, Pipe manufacturer YLI Holdings Bhd (KL:YLI) has announced plans to dispose of an industrial land parcel in Prai, Penang, together with a factory building, for RM18 million in cash as part of efforts to strengthen its working capital and pare down borrowings. In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary, Yew Lean Foundry & Co Sdn Bhd, has signed a sale and purchase agreement with Hong Kuan Metals Recycle Sdn Bhd for the disposal. Hong Kuan Metals Recycle, established in 2005, is involved in metal recycling, refining and manufacturing, as well as transport and machinery rental. The company is controlled by directors and shareholders Ng Boon Pin and Ng Kok Keong. The property, which measures 12,226 sq m, is currently utilised for storage and office operations. An independent valuation carried out on March 28 this year placed the property’s worth at RM14 million — RM7.4 million for the land and RM6.6 million for the building. YLI originally acquired the asset at a cost of RM4.6 million. From the disposal, YLI expects to record a net gain of about RM1.5 million after deducting real property gains tax and related expenses. Proceeds will be allocated to meet working capital requirements and reduce borrowings, which the group said would improve its reserves and overall financial position. As of June 30, 2025, YLI carried total borrowings of RM25.61 million, comprising RM15.65 million in long-term debt and RM10 million in short-term obligations. Its gearing ratio stood at 0.18 times, based on total equity of RM155.69 million. Barring unforeseen circumstances, the group expects the disposal to be completed by the first quarter of 2026. YLI’s shares were unchanged on Wednesday, last closing at 29 sen, valuing the group at RM32.76 million.