XL Holdings Bhd has agreed to acquire 34 Giant Mini outlets in the Klang Valley for RM15 million, marking its entry into the convenience retail sector.
Its wholly-owned subsidiary, XL Retail Sdn Bhd, signed the asset purchase agreement with Jutaria Gemilang Sdn Bhd.
In a filing with Bursa Malaysia, the company said the acquisition is part of its strategy to diversify into retail. It said the move will provide an additional income stream, reduce reliance on its core businesses, and serve as a platform for future expansion.
The deal is expected to be completed by May 31 and is anticipated to contribute positively to future earnings.
The purchase will be funded internally, with payment made in stages: RM1 million upfront, RM2 million upon signing, RM8.6 million by May 20, and the remaining RM3.4 million upon completion.
XL Holdings is mainly involved in breeding Asian arowana, stingrays and other ornamental fish, as well as trading aquarium products and edible bird’s nest.
For the nine months ended Jan 31, 2026, the company’s net profit fell 17.63% to RM5.95 million, while revenue rose 2.73% to RM93.68 million.
Its shares closed 0.5 sen lower at 67.5 sen on Monday, giving it a market value of RM325.58 million.
