Investment & Market Trends

KUALA LUMPUR, Sakura Ferroalloys Sdn Bhd has announced a RM487.5 million investment to build a new sinter plant under its latest expansion initiative, Project Salamander. The project, aimed at strengthening the company’s production efficiency and competitiveness, will support the company’s long-term growth strategy in the ferroalloys industry. According to Sakura, the sinter plant will play a crucial role in optimising raw material usage, reducing overall production costs, and improving sustainability outcomes in line with global environmental standards. “Project Salamander marks a significant milestone in our journey to enhance operational capabilities and to future-proof our business,” the company said in a statement. The investment reflects confidence in Malaysia’s industrial ecosystem and is expected to generate new opportunities within the supply chain. Once operational, the plant is projected to create high-value employment and reinforce Sakura’s position as a leading ferroalloys producer in the region. Industry observers noted that this development comes amid increasing demand for ferroalloys driven by the global steel sector, and Sakura’s move is seen as a timely response to evolving market trends. The sinter plant, expected to be completed within the next few years, will also contribute to the company’s ongoing efforts to integrate more sustainable practices into its operations.

KUALA LUMPUR, X-Fab, a global leader in analogue, mixed-signal and speciality semiconductor manufacturing, has announced a RM3 billion expansion of its facility in Sarawak, further solidifying Malaysia’s role in the global semiconductor supply chain. According to a joint statement from the Malaysia Investment Development Authority (MIDA) and X-Fab, the upgraded facility will boost wafer production capacity from 30,000 to 40,000 units per month, with the new line focusing on advanced chips for automotive, medical, and industrial applications. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the expansion reflects continued foreign investor confidence in Malaysia’s long-term industrial reform strategy and supports the government’s ambition to position the country as a hub for advanced manufacturing. “This milestone aligns with the New Industrial Master Plan 2030, the 13th Malaysia Plan, and the National Semiconductor Strategy. It strengthens Malaysia’s aspiration to achieve high-value, high-income nation status,” he said. MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid added that the investment will act as a catalyst for socio-economic growth in Sarawak, creating high-value jobs, nurturing skilled talent, and empowering local businesses in the supply chain. “This is the very essence of our national strategy — ensuring every investment drives inclusive growth and shared prosperity,” he said. X-Fab group CEO Rudi De Winter highlighted that the company produces chips critical to sectors such as ultrasound technology, electric vehicles, and charging infrastructure. “This expansion not only increases Sarawak’s overall capacity by 10,000 wafers per month but also more than doubles production of our widely used 180nm BCD-on-SOI technology, essential for these applications,” he said. With the new manufacturing line already operational, X-Fab will now serve a wider base of global customers in the automotive, medical and industrial sectors, further enhancing Malaysia’s value proposition in advanced manufacturing.

KUALA LUMPUR, KLK LAND, a wholly owned subsidiary of Kuala Lumpur Kepong Bhd (KL:KLK), has officially launched KLK TechPark, a 1,500-acre integrated industrial hub in Tanjong Malim, with Chinese automotive giant BYD confirmed as the anchor investor for Phase 1. (From left) Kuala Lumpur Kepong Bhd (KLK) executive chairman Tan Sri Lee Oi Hian, Perak Menteri Besar Datuk Seri Saarani Mohamad, Minister of Science, Technology and Innovation Chang Lih Kang, and Perak State Tourism, Industry, Investment and Corridor Development Committee chairman Loh Sze Yee at the launch of KLK TechPark. The launch was officiated by Perak Menteri Besar Datuk Seri Saarani Mohamad, alongside Minister of Science, Technology and Innovation Chang Lih Kang, Perak executive councillor for industry Loh Sze Yee, and KLK executive chairman Tan Sri Lee Oi Hian. Situated near the Automotive High-Tech Valley (AHTV), KLK TechPark comprises 1,300 acres for industrial development and 200 acres for residential support, with phased development planned from 2025 to 2035. The project is expected to deliver a gross development value (GDV) of RM3.5 billion over the next decade. Phase 1 will feature BYD’s 150-acre facility, with infrastructure works targeted for completion by end-2026. Phase 2, scheduled for launch by end-2025, will include a 200-acre vendor park catering to automotive and manufacturing players. KLK TechPark will offer build-to-suit solutions, industrial plots, and ready-built factories, supported by key infrastructure and direct access to the North-South Expressway, just minutes from Tanjong Malim town and Behrang toll. Perak’s state government said the project will contribute to GDP growth, create thousands of jobs, and strengthen a high-tech supply chain ecosystem. Saarani noted that KLK TechPark, anchored by BYD, supports the state’s goal to transform Tanjong Malim into a global hub for automotive and advanced technology, particularly in new energy vehicles, backed by manufacturing, R&D, supply chains, and talent development. KLK executive chairman Tan Sri Lee Oi Hian added that the project aligns with Perak’s long-term industrial ambitions, creating opportunities for businesses and communities while fostering a sustainable, competitive ecosystem.

KUALA LUMPUR, Power tool and industrial equipment maker Jasa Kita Bhd has received an unconditional takeover offer at 38 sen per share from its new controlling shareholder, Abd Azis Mohamad and his company Kintan Prima Sdn Bhd, for all remaining shares they do not already own. The move follows Abd Azis – an oil and gas veteran – together with his wife Datuk Yasmin Mahmood (former CEO of MDEC) and brother-in-law Datuk Iskandar Mizal Mahmood (Boustead Holdings director), acquiring a 40.33% stake from former major shareholders Robert Tan Hua Choon (the “Casio King”) and his son Tan Han Chuan for RM68.9 million. The deal was conditional on selling four industrial land parcels in Gombak to Tan’s company Logik Damai Sdn Bhd for RM38 million. With this acquisition, Abd Azis and his group now hold a 50.19% stake in Jasa Kita and intend to keep the company listed on Bursa Malaysia. Jasa Kita had earlier declared a special dividend of 12 sen per share from the land sale. Under the takeover terms, if the dividend is distributed before the offer closes, shareholders will receive an adjusted offer price of 26 sen per share (38 sen minus 12 sen). If it is paid after, shareholders will still get the full 38 sen per share. The company, which manufactures and trades power tools, electric motors, hand tools, and industrial equipment, posted a 98% drop in net profit to RM604,000 for the first quarter ended June 30, 2025, as last year’s results were boosted by a one-off RM37.9 million land sale gain. However, revenue improved 3.7% to RM5.02 million on stronger trading and sales. Shares of Jasa Kita touched a record high of 38.5 sen before easing to 37.5 sen at market close, just half a sen below the offer price. This gives the company a market value of RM168.6 million. So far in 2025, the stock has surged over 120%.

KUALA LUMPUR, Solar photovoltaic system provider JS Solar Holdings Bhd announced that its initial public offering (IPO) has been oversubscribed by 48.32 times, ahead of its debut on the ACE Market of Bursa Malaysia scheduled for Sept 23, 2025. The IPO comprises a public issue of 78 million new shares at 31 sen per share, representing 24 per cent of the company’s enlarged share capital. The exercise is expected to raise RM24.18 million. According to its filing with Bursa Malaysia, JS Solar received 8,567 applications for a total of 801 million shares, with an aggregate value of RM248.47 million, reflecting overwhelming demand. For the bumiputera public portion, 4,324 applications were submitted for 385.26 million shares, translating into a 46.42 times oversubscription rate. Meanwhile, the non-bumiputera portion saw 4,243 applications for 416.26 million shares, equivalent to a 50.23 times oversubscription. In addition, all 19.5 million issue shares allocated for eligible persons were fully subscribed. TA Securities Holdings Bhd is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO, with Eco Asia Capital Advisory Sdn Bhd serving as the financial adviser.

KUALA LUMPUR, The International Islamic Liquidity Management Corporation (IILM) has successfully reissued a total of US$960 million (US$1=RM4.21) in short-term sukuk across three tenors — one, three, and six months. According to a statement, the one-month sukuk worth US$260 million was priced at 4.30 per cent, the three-month tranche of US$550 million at 4.20 per cent, and the six-month issuance of US$150 million at 4.12 per cent. This latest exercise marks IILM’s 16th sukuk auction so far this year, bringing cumulative issuances to US$16.61 billion across 49 series of varying maturities. The issuance comes shortly after last week’s US$1.285 billion offering and drew strong interest from IILM’s network of primary dealers and a diverse pool of global investors, garnering total bids of US$2.3 billion. It achieved an average bid-to-cover ratio of 2.4 times, reaffirming the role of IILM sukuk as a key high-quality liquidity management tool for Islamic finance markets.

KUALA LUMPUR, Samsung Life Insurance has agreed to acquire a minority stake in Hayfin Capital Management, joining Mubadala Investment Co and AXA IM Prime as shareholders in the London-based private credit firm following a management buyout earlier this year. The deal marks the final stage in a long-term plan to replace British Columbia Investment Management Corp as Hayfin’s controlling shareholder, co-CEO Tim Flynn said. Arctos Partners, which helped finance the buyout, is distributing part of its stake to Samsung Life, having previously done so for Mubadala and AXA IM Prime. Flynn said Hayfin deliberately sought out strategic investors with strong reputations, cultural alignment, and exposure to key markets such as South Korea, the UAE, and Europe. “These were our top three choices from the outset,” he noted. Hayfin, managing about €34 billion (RM168 billion) in assets, ranks among Europe’s largest private credit lenders. Its recent transactions include loans to Belgian drugmaker SERB Pharmaceuticals and online used-car platform Constellation Automotive Group. The US$1.7 trillion (RM7.17 trillion) private credit market continues to expand as institutional investors channel more capital into the sector, which rivals high-yield bonds and leveraged loans. Hayfin also invests in liquid credit and private equity secondaries. Samsung Life’s investment underscores a broader trend of insurers entering private credit. Earlier this year, Legal & General partnered with Blackstone in a deal targeting up to US$20 billion over five years.

NEW DELHI, Urban Co, the Indian home services technology startup known for offerings ranging from plumbing and cleaning to massage therapy, saw its initial public offering (IPO) oversubscribed more than three times on the first day of book-building, buoyed by strong demand from retail and high-net-worth investors. Exchange data showed that retail investors bid for nearly seven times their allotted shares, while the high-net-worth individual quota was subscribed four times. Institutional investors accounted for 1.3 times demand. The IPO, which closes on Sept 12, aims to raise 19 billion rupees (RM910 million) through a combination of fresh share issuance and sales by existing shareholders. Investor appetite was particularly strong in the retail and employee tranches, which were fully booked within the first hour of trading. The enthusiastic response echoes the IPO frenzy of 2021, when Indian startups such as quick-commerce player Eternal Ltd and Paytm operator One 97 Communications Ltd attracted overwhelming investor interest. It also highlights renewed optimism for consumer-focused firms expected to benefit from recent government tax incentives designed to boost household spending. “Urban has redefined home services by transforming what was once a discretionary luxury into a lifestyle essential,” said Hariprasad K, founder of Livelong Wealth. “That cultural shift remains its strongest moat.” Founded in 2014, Urban operates in 47 cities across India and has expanded internationally to the United Arab Emirates and Singapore. Ahead of its listing, the company secured US$97 million in anchor investment from global funds managed by Norges Bank Investment Management, Fidelity, Nomura Holdings Inc, and Amundi SA. For the financial year ended March, Urban posted a net income of 2.4 billion rupees. Analysts expect sustained growth momentum, supported by an expanding customer base and the rollout of new service verticals.

KUALA LUMPUR, Oceancash Pacific Bhd (OPB) has signed a conditional share sale agreement (SSA) with Paragon Union Bhd to acquire Paragon Car Carpets & Components Sdn Bhd (PCCCSB) for RM13.42 million. In its filing with Bursa Malaysia today, OPB said the proposed acquisition entails the purchase of 22.75 million ordinary shares, representing a 100 per cent stake in PCCCSB, to be fully settled in cash. “Upon completion, PCCCSB will become a wholly-owned subsidiary of OPB,” the company said. According to OPB, the acquisition will strengthen its presence in the automotive sector by broadening its customer base and providing direct access to several end-clients, including automotive manufacturers currently served by PCCCSB. “The acquisition will also allow the group to move into downstream activities of the car carpet supply chain and further expand its reach within the automotive industry. We will leverage PCCCSB’s established business relationships with its customers and create opportunities for cross-selling within the enlarged group, thereby enhancing our competitiveness and positioning in the automotive parts and components market,” OPB added. The group further noted that the acquisition will not impact its issued share capital or shareholdings of substantial shareholders, as no new ordinary shares will be issued under the deal.

KUALA LUMPUR, AmBank Group has reaffirmed its commitment to deepening strategic partnerships with major Chinese banks, including China Construction Bank (CCB), Industrial and Commercial Bank of China (ICBC), and Bank of China, as well as other leading Chinese corporations, to facilitate the inflow of foreign direct investment (FDI) into Malaysia. AmBank Group’s chairman emeritus and honorary advisor, Tan Sri Azman Hashim, said the bank’s collaboration with Huawei on environmental, social and governance (ESG) initiatives and digital transformation further reflects its shared vision of building a sustainable and innovative future. “Together with these banks, AmBank is helping Chinese investors connect with industrial park developers, enabling them to set up operations in Malaysia. We hope this strategy will not only strengthen Malaysia’s economic growth but also further enhance ties with China,” he said at AmBank Group’s 50th anniversary gala dinner. Prime Minister Datuk Seri Anwar Ibrahim attended the celebration as the guest of honour. As part of its golden jubilee milestone, AmBank also unveiled an updated version of its camel mascot, Aman, which first appeared during the 68th National Merdeka Parade. The refreshed mascot symbolises unity, progress, and national pride.