KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Mr DIY’s founders are going public again — this time in Thailand.
Malaysian brothers Tan Yu Yeh and Tan Yu Wei, the self-made billionaires behind the Mr DIY home improvement retail empire, are taking their Thai operations to the Stock Exchange of Thailand (SET) through an initial public offering (IPO) that could raise more than RM730 million in total.
IPO Details: Dual Fundraising for Growth and Shareholders
According to the company’s prospectus, MR DIY Holding (Thailand) PCL will raise up to RM470 million to fund store expansion, working capital, and debt repayment.
An additional RM263 million will be raised for existing shareholder MDIH Singapore Pte Ltd, which is divesting part of its stake through the offering.
The IPO is priced between 8.30 baht (RM1.08) and 8.60 baht per share, with public subscription running from October 27 to October 29, offering investors up to 10.89% of the company.
Separate Yet Familiar: Not Part of MR DIY Malaysia
While the Thai entity shares the same major shareholders, it is operationally independent from MR DIY Group (M) Bhd (KL:MRDIY) — the Malaysia-listed parent.
MR DIY Thailand currently operates over 1,000 outlets nationwide, making it one of the country’s largest home improvement chains. The group plans to open 200 more stores in 2025 and another 210 in 2026, signaling aggressive growth ambitions in Southeast Asia’s second-largest economy.
Founders’ Billionaire Journey
The Tan brothers’ entrepreneurial journey began in 2005, with a small hardware shop in Jalan Tuanku Abdul Rahman, Kuala Lumpur. Two decades later, the brand has expanded to over 5,000 stores spanning Asia, Europe, and Africa, offering everything from hardware tools to home décor.
Their success has earned them a combined net worth of US$2.15 billion (RM9.09 billion), ranking them as Malaysia’s 12th richest individuals, according to Forbes.
The Thailand IPO follows the duo’s previous listing of their Indonesian business PT Daya Intiguna Yasa Tbk in Jakarta last year — part of their broader strategy to localize ownership structures while expanding the Mr DIY brand globally.
Strategic Significance and Market Impact
The Thai listing strengthens Mr DIY’s regional brand presence and funding flexibility as it pursues rapid store rollouts and potential supply-chain efficiencies across ASEAN.
Analysts view the move as a strategic diversification of capital markets exposure and a signal of confidence in Thailand’s consumer retail sector, which has rebounded strongly amid stable inflation and rising household spending.
For Malaysian investors, the IPO also showcases the Tan brothers’ multinational growth play, expanding the brand’s footprint while keeping MR DIY Malaysia focused on domestic and online expansion.
Investor Takeaway
Mr DIY’s Thailand IPO highlights a textbook case of regional scaling via market-specific listings — a strategy increasingly favored by Southeast Asian consumer groups seeking local capital access and brand strength.
With continued growth momentum in Thailand and beyond, investors will be watching closely whether the Tan brothers’ global DIY empire can replicate the strong margins and scale that made MR DIY Malaysia a local success story.
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