Malaysia

TNG Digital has officially launched its Business Account offering, a fully digital financial solution tailored to the unique needs of micro, small and medium enterprises (MSMEs) and gig economy participants. The launch event was held at the Hilton Petaling Jaya and was officiated by Deputy Minister of Domestic Trade and Cost of Living, YB Senator Dr Hajah Fuziah Binti Salleh, alongside TNG Digital Chief Executive Officer Alan Ni. The TNG Digital Business Account is hosted within the TNG eWallet app and provides a streamlined, paperless onboarding experience, requiring no fees or minimum balance. Account registration can be completed in approximately 30 minutes, significantly reducing administrative friction for business owners. While available to all types of enterprises, the solution has been purpose-built to cater to informal merchants, hawkers, and gig workers—segments traditionally underserved by conventional financial institutions. A key feature of the Business Account is its differentiated wallet size, offering a limit of up to RM60,000 for individual traders and a substantially higher ceiling of RM500,000 for businesses registered with the Companies Commission of Malaysia (SSM). This flexibility is designed to accommodate a wide spectrum of operational needs. Beyond basic financial management, users benefit from real-time settlement capabilities and integrated merchant support tools. These include the Near Me feature to enhance discoverability, as well as marketing incentives such as GOyang-GOyang cashback and voucher campaigns to stimulate customer engagement. The platform also incorporates robust security measures, including a dedicated PIN, a kill switch, and round-the-clock fraud monitoring. Future enhancements to the Business Account are already in the pipeline, with planned additions such as micro-lending, savings products, and protection services. Commenting on the launch, Alan Ni stated that the initiative was developed in response to a clear gap in the market for accessible digital tools that enable micro and small enterprises to thrive in today’s digital economy. He emphasised that the solution enables businesses to receive funds in real time and perform bank transfers without incurring any costs, marking a significant step forward in financial inclusivity and operational efficiency. -Lowyat.Net

PETALING JAYA : MN Holdings Bhd (MNH) is poised for strong near-term performance, driven by a robust project pipeline and its deepening involvement in Malaysia’s rapidly expanding data centre (DC) infrastructure sector. According to Hong Leong Investment Bank (HLIB) Research, the company’s outstanding order book stands at RM1.13 billion, with nearly 90% attributed to substation engineering contracts. MNH is actively bidding for a further RM1.85 billion in projects, predominantly in the DC and Tenaga Nasional Bhd (TNB)-related infrastructure space. MNH remains selective in its tender participation, prioritising high-margin projects and those which enhance its operational track record. HLIB noted that job availability remains strong, although competition is constrained by a limited pool of qualified contractors, particularly with growing demand from both TNB and the private sector. The group is also targeting interconnection facility works under the upcoming fifth large-scale solar programme (LSS5). With LSS5, LSS5+ and LSS6 collectively expected to unlock approximately 6 GW of new power infrastructure opportunities in the coming years, capitalised mechanical and electrical players such as MNH are well-positioned to capture a significant share. In a notable development, MNH recently secured a RM39.5 million contract from an unnamed client, referred to as Customer A, for a consumer landing station project in Johor. HLIB Research sees this win as a testament to the group’s execution capabilities, with the potential to secure an additional RM130 million in packages at the same location. As a result, HLIB revised its FY2026 and FY2027 earnings forecasts upwards by 6.8% and 7.5% respectively, while reiterating a “buy” recommendation and raising its target price to RM1.88. Maybank Investment Bank Research (Maybank IB) has also maintained its “buy” call, with a target price of RM1.69, citing the Johor contract with Customer A as a significant growth catalyst. While the contract was within the research house’s expectations, it reinforced MNH’s strengthening position in DC infrastructure, now a key component of both its confirmed and prospective contracts. Maybank IB projects sustained demand in the DC space over the next three years, anticipating RM500 million in annual job wins between FY2025 and FY2027. Further reinforcing investor confidence, Phillip Capital Research highlighted a recent RM40 million substation extension project, which has lifted MNH’s total order book to RM1.1 billion — equivalent to 4.5 times its FY2024 revenue. The project is expected to contribute RM4 million to FY2026 earnings. Phillip Capital also pointed to a prospective RM250 million pipeline from Customer A, noting MNH’s strategic position with first right of refusal. It maintained a “buy” rating with a target price of RM1.72, citing the group’s strong client retention and advantageous exposure to Malaysia’s fast-growing data centre segment. -The Star

PETALING JAYA : PMCK Bhd, a well-established private healthcare provider operating in northern Malaysia, is preparing to list on the ACE Market of Bursa Malaysia, with ambitions to solidify its regional presence and enhance long-term shareholder value. As part of its post-listing strategy, PMCK has pledged to distribute a minimum of 20% of its net profit as dividends. According to TA Research, dividend payouts are projected to range between 20% and 44% across the financial years 2025 (FY25) to 2027 (FY27), with forward yields estimated at 1.3% to 2.1%. At its initial public offering (IPO) price of RM0.22 per share, PMCK is valued at a trailing price-to-earnings (PE) ratio of 15.9 times based on FY24 earnings per share (EPS). TA Research has set a fair value of RM0.23 per share, derived from a target PE of 16 times FY26 EPS. PMCK currently operates the Putra Medical Centre in Alor Setar, Kedah. With over three decades in the healthcare industry, the centre is supported by 40 consultants across 17 medical specialisations. Through its IPO, the group aims to raise RM60 million, earmarked for expansion efforts focused on strengthening its foothold in northern Malaysia—a region that continues to face limited access to private healthcare services. Kedah, in particular, has one of the lowest private hospital bed densities in the country. A cornerstone of this expansion is the upcoming PMC Kulim facility, a 12-storey private medical centre slated to begin operations in the first quarter of FY28. The development includes a seven-storey adjoining complex featuring a four-storey hotel, a two-storey food court and dedicated parking facilities. PMCK also plans to integrate RYM DX Laboratory Sdn Bhd, its diagnostics subsidiary, into PMC Kulim to meet rising demand for medical testing services. Concurrently, it will upgrade the medical laboratory and radiology facilities at its existing PMC Kedah site to improve service delivery. Despite its long-term growth outlook, PMCK is expected to experience a near-term dip in earnings. TA Research anticipates a 24.8% contraction in net profit to RM11.3 million in FY25, primarily due to a projected 20% decline in patient volume. The reduction is attributed to severe flooding in Alor Setar and its surrounding areas between September and December 2024, which impeded patient access. Consequently, the profit after tax margin is forecast to fall to 12.1%, down from 14.4% in FY24, also weighed by increased administrative costs incurred during continued facility operations amidst the floods. -The Star

KUALA LUMPUR : Farm Fresh Berhad has announced that it will not raise the prices of its products despite the upcoming revision and expansion of the Sales and Services Tax (SST) scheduled for implementation on 1 July. The company’s Managing Director, Loi Tuan Ee, confirmed that the SST impact on its core product line is minimal and will not warrant any adjustments in pricing. Mr Loi stated that only a limited selection of products, such as chocolate milk, will fall within the scope of the revised SST. The majority of Farm Fresh’s offerings, including its flagship fresh milk and dairy beverages, will remain unaffected. “We expect the impact to be very small. For now, the cost increase is still under control and we have no plans to increase prices,” said Mr Loi, speaking on the sidelines of the International Social Wellbeing Conference (ISWC) 2025, organised by the Employees Provident Fund (EPF). He noted that Farm Fresh has maintained stable pricing for the past two years and intends to do so for a third consecutive year, underscoring the company’s commitment to affordability and value. The last price increase occurred during the global supply disruptions triggered by the Russia-Ukraine conflict and foreign exchange volatility, which had a knock-on effect on input costs. Since then, Farm Fresh has taken proactive measures to mitigate such risks, including scaling up production, enhancing operational efficiencies, and optimising logistics. “We continue to look for ways to sustain our operations, including improving performance at both the farm and production levels to ensure we can maintain prices for consumers,” Mr Loi added. Addressing broader geopolitical concerns, Mr Loi remarked on the ongoing tensions in West Asia, particularly between Israel and Iran, expressing hope that the situation does not escalate to a point where it disrupts global supply chains. While there is currently no direct impact on Farm Fresh’s operations, the company is closely monitoring developments. Looking ahead, Farm Fresh remains optimistic about the local dairy sector’s growth prospects. The company is on track to surpass RM1 billion in sales, with confidence bolstered by strong consumer demand, ongoing product innovation, and continued brand loyalty. “Demand remains strong because our products are daily necessities. Even as consumers tighten spending in other areas, such as dining out, milk remains an essential item — especially for families with young children,” Mr Loi said. He also revealed plans to diversify the company’s product range by introducing dairy-based offerings tailored for the elderly by next year, in a move to cater to a broader demographic. “This is part of our strategy to meet the evolving needs of consumers of all ages, not just children and young families, but also seniors,” he concluded. -Berita Harian

KUALA LUMPUR: Advancecon Holdings Bhd received unanimous approval from its shareholders for all resolutions tabled during its 18th Annual General Meeting (AGM), held today. The strong show of support reflects the confidence investors have in the company’s strategic direction and leadership. During the meeting, shareholders endorsed the audited financial statements for the financial year ending 31 December 2024, along with the approval of Directors’ fees and benefits for the period until the next AGM. The re-election of two retiring directors, Yeoh Chong Keat and Tung Kai Hung, was also confirmed in accordance with the company’s Constitution, ensuring leadership continuity at the board level. The AGM also saw the reappointment of Messrs. UHY Malaysia PLT as external auditors, with authority granted to the Board of Directors to determine their remuneration. In a move to enhance financial agility, shareholders approved the mandate for the board to issue and allocate new shares under Sections 75 and 76 of the Companies Act 2016. They also approved a waiver of statutory pre-emptive rights under Section 85. Additionally, the renewal of the share buyback authority was granted, enabling Advancecon to repurchase up to 10 percent of its issued share capital. This initiative underscores the company’s proactive approach in managing its capital structure to optimise shareholder value. Group Chief Executive Officer, Dato’ Phum Ang Kia, conveyed his appreciation to shareholders for their continued confidence in the company’s growth trajectory. He noted that the unified support from shareholders aligns with Advancecon’s strategic pivot towards infrastructure development, green energy and digital transformation. “The strong support from shareholders reflects their confidence in our growth plan. As we move into a new phase driven by infrastructure, green energy and digital transformation, we remain committed to delivering sustainable value that connects communities and transforms lives,” he said. Dato’ Phum highlighted recent milestones, including the construction of the Gerbil Data Centre in Port Dickson and the development of the Lagong Mas township in Selangor. These projects have contributed significantly to the Group’s order book, which now exceeds RM801 million, a clear indication of execution strength in both conventional and next-generation infrastructure segments. The Board of Directors and senior management reiterated their commitment to robust corporate governance, fiscal discipline and timely project delivery, all of which are fundamental to the company’s mission. Advancecon is well-positioned to play a strategic role in Malaysia’s economic advancement and support the national energy transition, reinforcing its contribution towards the country’s long-term sustainable development goals. -Berita Harian