Investment & Market Trends

MMC Port Holdings Sdn Bhd, controlled by Malaysian tycoon Tan Sri Syed Mokhtar Al-Bukhary, is reportedly exploring a potential minority stake sale after postponing its planned initial public offering (IPO) last year. According to sources familiar with the matter, Malaysia’s largest port operator has approached several Asian companies and infrastructure-focused funds to assess early interest in a possible deal. Sources said Syed Mokhtar may seek a valuation of more than US$10 billion (RM40.17 billion) for the entire business. However, discussions are still ongoing, and no final decision has been made regarding the transaction. MMC Port declined to comment on the matter. The company operates seven ports along the Strait of Malacca, one of the world’s busiest shipping routes, as well as three cruise terminals. In October last year, MMC Port postponed what could have been Malaysia’s largest IPO since 2012. Earlier, Global Infrastructure Partners (GIP) — now part of BlackRock Inc — had also shelved plans to acquire up to 49% of the company.

The government has allocated RM50 million under the PKS@BURSA Programme to support 200 high-potential small and medium enterprises (SMEs) in pursuing listings on Bursa Malaysia by 2030. Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong said the initiative, led by SME Corp Malaysia, is aimed at strengthening the pipeline of businesses prepared for future public listings. Through the programme, eligible SMEs can apply for financing of between RM2 million and RM5 million under the SME Listing Fund, with a profit rate capped at 5% for up to five years. Participating companies may also qualify for a rebate of up to 20% if they successfully list on Bursa Malaysia within five years, helping to reduce listing-related costs and encourage greater participation in the capital market. Speaking to the media after launching PKS@BURSA and officiating the “Road to IPO” event on Thursday, Sim said the funding can be used for working capital, corporate financing, and expenses linked to IPO preparations. He noted that the programme addresses two key challenges commonly faced by growing businesses — high listing costs and the operational capacity required to enter the capital market. According to Sim, the initiative provides a clearer pathway for SMEs with strong growth potential to expand operations and gain access to financing through Bursa Malaysia. He added that PKS@BURSA aligns with the goals of the 13th Malaysia Plan, which seeks to strengthen the country’s capital market ecosystem and improve access to growth funding for local businesses. “Our aim is not only to create more listed companies, but to develop more companies that are capable of being listed,” he said. Beyond financial support, the programme also focuses on capacity building, helping SMEs improve governance and management practices needed to meet listing requirements. Sim added that SME Corp Malaysia will work with Credit Guarantee Corporation Malaysia Bhd, Bursa Malaysia, and other agencies to provide guidance and support to participating SMEs.

Berjaya Corporation Bhd and its listed subsidiary Berjaya Property Bhd have disposed of stakes in five listed companies, including Berjaya Food Bhd, REDtone Digital Bhd, 7-Eleven Malaysia Holdings Bhd and Salcon Bhd, to related party Detik Ria Sdn Bhd for a total of RM76.79 million in cash. Berjaya Corp said the transactions were carried out via direct business deals on Thursday (May 28). The disposals involved reductions in shareholdings across several companies, including Berjaya Property, Berjaya Food, REDtone, 7-Eleven Malaysia and Salcon. Following the transactions, Berjaya Corp’s stakes were reduced to 74.22% in Berjaya Property, 63.3% in Berjaya Food, 34.06% in REDtone, 12.09% in 7-Eleven Malaysia, and 11.78% in Salcon. The group said the proceeds will be used to repay borrowings and for working capital, including administrative, marketing and operating expenses. Separately, Berjaya Property confirmed that its subsidiary Nural Enterprise Sdn Bhd sold a 1.98% stake (21.93 million shares) in 7-Eleven Malaysia to Detik Ria for RM43.85 million, with proceeds earmarked for ongoing development projects. The transactions were conducted at prevailing market prices, according to the filings. Detik Ria is linked to several key figures within the Berjaya group, including Tan Sri Vincent Tan and Johor princess Tunku Tun Aminah Sultan Ibrahim Ismail, among others. Berjaya Corp shares closed 0.5 sen lower at 24.5 sen, while Berjaya Property rose 0.5 sen to 26.5 sen.

Bank Rakyat has successfully issued RM2.0 billion Islamic Medium-Term Notes (IMTN) Sukuk Wakalah through its special purpose vehicle, Imtiaz Sukuk II Bhd, under its Senior Sukuk Wakalah Programme of up to RM10 billion. In a statement, the bank said the issuance was carried out through a book-building exercise on April 28, 2026, with the programme receiving an AA2 rating from RAM Rating Services Bhd, reflecting its strong credit standing. The sukuk issuance comprised five tranches with maturities ranging between three and seven years, providing investors with a range of tenure options aligned with different risk and return preferences. According to Bank Rakyat, strong investor appetite led to the issuance being upsized to RM2.0 billion, supported by healthy participation from institutional investors. The bank said the Senior Sukuk Wakalah programme recorded encouraging demand, achieving a final bid-to-cover ratio of 1.16 times the total issue size, signalling continued confidence in Bank Rakyat’s financial position and Islamic financing instruments. “The issuance received overwhelming investor demand, resulting in the upsizing of the programme to RM2.0 billion,” the bank said. Bank Rakyat noted that proceeds raised from the sukuk issuance will be utilised for Shariah-compliant purposes, including working capital requirements, capital expenditure, financing activities, general investments, and other corporate purposes. The bank said the issuance forms part of its broader strategy to strengthen funding capabilities and support ongoing business growth while maintaining compliance with Islamic finance principles. Bank Rakyat also announced that Bank Muamalat Malaysia Bhd, CIMB Investment Bank Bhd, Maybank Investment Bank Bhd, and RHB Investment Bank Bhd were appointed as joint lead managers for the Sukuk Wakalah programme. The issuance reinforces Bank Rakyat’s position in the Islamic capital market and highlights continued investor interest in sukuk instruments amid evolving market conditions.

Solar photovoltaic (PV) specialist Solarvest Holdings Bhd and Norway’s central bank, Norges Bank, have emerged as shareholders in Sarawak-based construction company Hartanah Kenyalang Bhd following the completion of a private placement involving 62 million shares, equivalent to a 10 per cent stake in the company. In a statement, Hartanah said Solarvest subscribed to 45 million shares, representing a 6.6 per cent stake, while Norges Bank, which manages Norway’s Government Pension Fund Global, acquired the remaining 17 million shares, representing a 2.5 per cent stake. Hartanah said Solarvest’s strategic investment is expected to create collaboration opportunities in the renewable energy sector in Sarawak, leveraging the company’s regional expertise in clean energy. The announcement follows Hartanah’s disclosure of an issue price of 27.5 sen per share for the placement exercise, which is expected to raise approximately RM17.05 million. The proceeds will primarily be used as working capital for the company’s Sarawak Stadium project, secured in January 2026. Listed in June 2025, Hartanah has secured four new contracts worth RM511.4 million, boosting its outstanding order book to RM551.2 million as at April 23, 2026, up from RM142.5 million as at March 31, 2025. Funds raised from Hartanah’s initial public offering (IPO), amounting to RM19.34 million, were allocated as working capital for six construction projects. On Friday, Hartanah Kenyalang shares rose 1.5 sen, or 3.49 per cent, to 44.5 sen, giving the company a market capitalisation of RM303 million. The stock has nearly tripled from its IPO price of 16 sen. Meanwhile, Solarvest shares gained three sen, or 1.06 per cent, to RM2.85, valuing the group at approximately RM2.73 billion.

Sarawak-based diversified group W T K Holdings Berhad (“WTK” or “the Group”) has announced that its wholly owned subsidiaries, Biogrow City Sdn Bhd (“BCSB”) and Bioworld Synergies Sdn Bhd (“BSSB”), have entered into conditional share sale agreements for the proposed disposal of their respective interests in Biogrow City Plantations Sdn Bhd (“BCPSB”) to Rimbun Temasek Sdn Bhd for a total cash consideration of RM90.0 million (“Proposed Disposals”). BCPSB is principally involved in the planting and management of an oil palm plantation, as well as the operation and management of a palm oil mill in Limbang, Sarawak. Its assets comprise five parcels of plantation land measuring 3,487 hectares, of which approximately 1,314 hectares are planted, and one 30 metric tonnes (MT) per hour crude palm oil mill. The Proposed Disposals comprise: the disposal by BCSB of 8.5 million ordinary shares, representing an 85.0% equity interest in BCPSB, for a consideration of RM65.6 million; and the disposal by BSSB of 24.4 million redeemable preference shares in BCPSB, for a consideration of RM24.4 million. The Proposed Disposals are expected to result in an estimated gain of RM72.7 million to the Group. The Proposed Disposals form part of WTK’s ongoing efforts to unlock value and enhance its asset portfolio, improving resource allocation across the Group. Biogrow’s plantation and mill are located far from WTK’s main plantation operations in Miri and Bintulu, resulting in lower economies of scale, higher transportation costs, and difficulties in recruiting manpower for the estate. In addition, the plantation’s steep and challenging terrain contributed to low tree standing and subpar fresh fruit bunch yields. Meanwhile, the palm oil mill has also been operating below capacity. Executive Director of WTK, Francis Lai, said: “The Proposed Disposals provide the Group with an opportunity to unlock value from underperforming assets that are also geographically distant from our main plantation clusters. “For clarity, plantation remains a key business segment for WTK. However, Biogrow’s plantation assets have been challenging to optimise due to its location, terrain, and limited availability of surrounding third-party fresh crops to support mill utilisation.” “Hence, the Proposed Disposals will allow us to further enhance our plantation portfolio performance, especially following the earlier addition of two oil palm plantations and one palm oil mill in April 2026 that have better yields and production output. “The RM90.0 million cash proceeds will strengthen our balance sheet, improve our financial flexibility, and provide additional working capital as we continue to build a more resilient and sustainable earnings base,” he added. “As we move forward, we continually assess our asset base with the aim to unlock value from non-core or sub-optimal assets while seeking out earnings-accretive acquisition targets. “With concerted efforts to optimise our plantation portfolio, coupled with the good progress from our food and tapes segments, we are confident of building a stronger, more resilient Group capable of delivering consistent returns to shareholders,” Francis Lai concluded. The Proposed Disposals are not subject to the approval of WTK’s shareholders. Barring any unforeseen circumstances and subject to the fulfilment of the relevant conditions, the transaction is expected to be completed in the fourth quarter of 2026.

Supermax Corporation Bhd’s associate company, Supermax Brasil Importadora S/A (Supermax Brasil), plans to establish a medical glove manufacturing facility in Paraná, Brazil, with a total investment commitment of about 250 million Brazilian Real (US$50 million). Supermax said the investment marks a major step in the group’s international expansion strategy and strengthens its presence in the Latin American healthcare and industrial markets. The group noted that Brazil offers strong long-term growth potential due to its expanding healthcare sector, rising regional demand for medical and industrial gloves, strategic access to the Mercosur market, and government initiatives aimed at boosting local manufacturing while reducing reliance on imports. The project will involve the development of an integrated manufacturing facility with flexible production capabilities designed to serve both healthcare and industrial markets across the region. Supermax Brasil is currently working closely with Brazilian authorities and stakeholders to support the project’s implementation and the development of a local manufacturing ecosystem. The company also plans to expand its market reach into Mercosur associate member countries, including Chile, Colombia, Ecuador, Guyana, Panama, Peru and Suriname. Supermax said the investment will be carried out in two phases. The first phase involves an initial investment of about 150 million Brazilian Real (US$30 million), which will be funded through internally generated funds and retained earnings. The second phase will focus on future expansion to support rising regional demand and market growth. Separately, Supermax reported a wider net loss of RM41.14 million for the third quarter ended March 31, 2026, compared with RM23.81 million a year earlier. Revenue declined to RM126.76 million from RM203.67 million, mainly due to the stronger ringgit against the US dollar and lower average selling prices. For the first nine months of the financial year, the group’s net loss widened to RM234.19 million from RM93.35 million previously, while revenue fell to RM519.76 million from RM627.11 million. Despite ongoing cost pressures, Supermax said it remains optimistic about its outlook, supported by resilient healthcare demand and improving overseas market conditions. The group added that it is working towards a turnaround and expects to return to profitability in the second half of 2026.

Mudajaya Group Bhd’s indirect wholly owned subsidiary, Xelmont Ltd, is selling its 45% stake in Real Jade Ltd to Minyi Holdings Ltd (MHL) for HK$234 million (RM118.45 million). In a filing with Bursa Malaysia, Mudajaya said the disposal proceeds will mainly be used to offset debt owed to MHL, which amounted to HK$244.97 million as at April 30, 2026. The group added that the remaining balance of HK$10.97 million, along with the related interest, will be settled in cash. Mudajaya said the disposal allows the group to unlock part of its investment in Real Jade while still retaining a controlling stake in the company. This will enable the group to continue benefiting from any future growth and operational improvements at Real Jade.

Big Caring Group Bhd, Malaysia’s largest pharmacy chain operator, is reportedly seeking to raise up to RM3 billion through a planned initial public offering (IPO), potentially making it one of the country’s largest listings in recent years. According to sources familiar with the matter, the pharmacy retailer is targeting a listing by October this year. Discussions remain ongoing and details, including the IPO size and timeline, could still change. Backed by private equity firm Creador Sdn Bhd, Big Caring plans to offer up to 25.5% of its enlarged share capital in the listing. Part of the proceeds raised is expected to be used for debt repayment. The planned IPO comes amid a strong year for Malaysia’s capital market, with around RM5.6 billion raised through IPOs so far in 2026. Among the largest listings this year was Sunway Healthcare Holdings Bhd, which raised RM3.3 billion in March after exercising its over-allotment option. Big Caring currently operates several well-known pharmacy brands, including Big Pharmacy and Caring Pharmacy, with a combined network of 626 outlets nationwide, according to its prospectus. The company also plans to expand aggressively by opening around 40 to 50 new outlets annually over the next three to five years. Creador, which invested in the company in 2015, currently owns about 34% of Big Caring and is expected to sell up to 14.8% of its stake through the IPO exercise. The company was founded by Lee Meng Chuan and Lim Sin Yin, who remain significant shareholders in the business. Big Caring did not respond to requests for comment on the proposed listing.

Billionaire Tan Sri Vincent Tan is reportedly considering selling his remaining 30% stake in Prudential Assurance Malaysia Bhd, according to people familiar with the matter. Tan is said to be in discussions with advisers regarding a potential divestment following the earlier disposal of a 19% stake in the insurer this year. Sources indicated that the stake sale could value Prudential Malaysia at more than RM20 billion, although discussions remain at an early stage and may not necessarily lead to a transaction. The proposed valuation could also change as deliberations continue, the sources added. Tan’s investment vehicle, Detik Ria Sdn Bhd, which is also linked to the Johor royal family, previously resolved a long-standing legal dispute with Prudential Plc last year. The settlement resulted in Prudential acquiring a 19% stake in the Malaysian insurer. The deal at the time valued Prudential Assurance Malaysia at approximately RM8 billion, leaving Detik Ria with a 30% holding while Prudential Plc retained a 70% stake, which is the maximum foreign ownership permitted under Malaysian insurance regulations. Any potential buyer for Tan’s remaining stake would need to be Malaysian due to local ownership rules governing the insurance sector. Tan declined to comment on the matter, while Prudential and its Malaysian unit did not respond to requests for comment.