MONEY MASTER

Malaysia’s corporate landscape saw a mix of  fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring  dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA  strengthened its renewable energy ambitions after its subsidiary issued  RM1.05 billion in Asean Green SRI Sukuk  to finance a  500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for  green financing  and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY  raised  RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...

Empire Premium Food Bhd , the operator of the  Empire Sushi chain , has launched its  Main Market IPO , aiming to raise  RM254 million  to fund aggressive expansion across Malaysia. IPO Details and Valuation The offering is  indicatively priced at 70 sen per share , implying a  market capitalisation of RM770 million  and a valuation of  20.3 times FY2025 earnings . RM152.6 million  will go to the company RM96.3 million  will be raised by existing shareholders (founders) Listing is scheduled for  April 17 , with pricing on  April 7 For FY2025, the group reported: Net profit:  RM37.9 million Revenue:  RM235.6 million Expansion Strategy Drives Growth Story A key IPO driver is Empire’s  aggressive outlet expansion plan . The group aims to open  56 new outlets over the next three years , focusing on  high-traffic locations  such as: Shopping malls Airports Transit hubs More than  51% of IPO proceed...

Malaysia’s IPO market just received a major catalyst. Sunway Healthcare Holdings Bhd  has begun bookbuilding for a  RM2.86 billion (US$734 million)  IPO, potentially the country’s largest listing since 2017. The company plans to list on March 18 at  RM1.45 per share , implying a  RM16.7 billion valuation . That would make it the second-largest listed healthcare provider in Malaysia after  IHH Healthcare Bhd . Deal Snapshot Shares offered: 1.97 billion IPO price: RM1.45 Market cap: RM16.7 billion Proceeds use: Hospital expansion New hospital construction Redemption of Islamic medium-term notes Cornerstone investors include: JPMorgan Asset Management Eastspring Investments RBC Global Asset Management Parent company:  Sunway Bhd Existing listed carve-outs include  Sunway Construction Group Bhd  and  Sunway Real Estate Investment Trust . Money Master Take This IPO matters for three reasons beyond the headline size. 1️⃣ A Healthcare Growth Pl...

Quick Summary Bursa Malaysia says lower free float approvals for large IPOs follow clear, rule-based criteria No concerns raised by MSCI  over Malaysia’s index standing Indonesia’s MSCI warning is country-specific , not a regional issue Bursa plans to  boost market quality, disclosures and investor confidence What Bursa Malaysia Said Bursa Malaysia Bhd  clarified that approvals for  large IPOs with free float below 25%  are governed by  transparent regulatory parameters  and  have not triggered concerns from  MSCI Inc. . CEO  Datuk Fad’l Mohamed  stressed that such approvals are  selective and uncommon , typically granted to  mega-listings where liquidity remains sufficient . Recent Examples of Lower Free Float IPOs Sunway Healthcare Holdings Bhd  – approved with  18% free float Other mega IPOs previously granted flexibility: MR DIY Group (M) Bhd 99 Speed Mart Holdings Bhd Eco-Shop Marketing Bhd Key point:  ...

Based on Bloomberg reporting , Chinese snack retailer  Busy Ming Group Co  surged as much as  88%  in its Hong Kong trading debut after raising  HK$3.67bn (US$470m) , underscoring renewed risk appetite for  China consumer and growth listings  at the start of 2026. Shares jumped to  HK$445  from an offer price of  HK$236.60 , with retail investors subscribing nearly  1,900 times  — a level that signals more than just deal-specific enthusiasm. Why This IPO Matters for Investors This debut is being read by markets as a  sentiment signal  for Hong Kong equities: January IPO proceeds are on track for the  strongest first-month start on record Activity is being driven by  AI-linked names and scalable consumer brands Retail participation has returned aggressively after years of caution Business Model: Value Consumption at Scale Busy Ming’s appeal lies in its  deflation-resistant, mass-market positioning : Over...

Hong Kong’s banking sector is poised for a  meaningful wealth-management windfall in 2026 , with fee income expected to surge well above market expectations, according to Bloomberg Intelligence (BI). Banks such as  HSBC Holdings PLC  and  BOC Hong Kong Holdings Ltd  could see  wealth fees grow by more than 20% this year , driven by stronger fund sales, brokerage activity and bancassurance demand. What’s Driving the Fee Surge Bloomberg Intelligence highlights several tailwinds supporting wealth fee growth: Improving global risk sentiment , underpinned by optimism around artificial intelligence investments Favourable market conditions  across equities, fixed income and precious metals Expectations of further US rate cuts , keeping risk appetite firm These factors are encouraging clients to deploy capital more actively, lifting transactional and advisory income for banks. China Flows & IPO Activity Add Momentum Wealth demand is also being supported by...

Hong Kong’s stock market revival is gaining momentum, with  more than 200 companies  preparing to go public, according to  Financial Secretary Paul Chan . The surge underscores the city’s renewed role as Asia’s leading capital-raising hub following years of subdued activity. Strong IPO Pipeline Reflects Renewed Confidence In an interview with Bloomberg Television from New York, Chan described the  initial public offering (IPO) pipeline  as “very strong.” “For mainland companies going global, using Hong Kong as a platform to raise funds and employ talent for overseas expansion is a very good business proposition,” he said. The robust pipeline comes as  Chinese firms increasingly turn to Hong Kong  for listings amid improving market sentiment and policy support from Beijing. 2025: Hong Kong’s Best Year for Equity Sales Since 2021 According to Bloomberg data,  equity sales — including IPOs, primary placements, and block trades — raised the most in fo...

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 in...

LG Electronics India ’s long-awaited  US$1.3 billion (RM5.5 billion)  initial public offering drew strong demand, with the issue  fully subscribed within hours  of launch on Tuesday — reflecting solid investor confidence in India’s fast-growing consumer appliance market. At the upper end of its price band, the IPO values the company at  US$8.7 billion , positioning it among India’s largest listings this year. The offering saw total bids of  ₹84.9 billion , or  1.04 times covered , on the first day of its three-day subscription period. Breakdown of Subscription Non-institutional investors:  2.3x subscribed Retail investors:  81% subscribed Institutional investors:  49% subscribed (as of 4:51pm IST) The IPO closes  Thursday (Oct 9) , with trading expected to commence  Oct 14 . Market Context The listing comes amid a busy IPO season in India, with total 2025 fundraising projected to reach  US$8 billion . Recent reforms in Ind...

Key Takeaway:  Malaysia’s largest container port operator,  MMC Port Holdings Bhd , has received regulatory approval for a Main Market listing that could raise around  RM8.5 billion . The IPO will involve up to  30% of existing shares , with proceeds going to parent company MMC Corporation. MMC Port Holdings Bhd , the country’s biggest container port operator, has secured approval to proceed with its highly anticipated initial public offering (IPO) on Bursa Malaysia’s Main Market. The proposed listing, which must be completed within six months of approval, will involve a sale of up to  30% of existing shares . Importantly, all shares offered will come from parent company  MMC Corporation Bhd , which is controlled by  Tan Sri Syed Mokhtar Al-Bukhary . As a result, MMC Port itself will not receive any of the IPO proceeds. According to Bloomberg, the offering could raise as much as  US$2 billion (RM8.5 billion) , making it one of the largest Malaysia...

 Key Takeaways Deal Size:  Chery Automobile targets up to  HK$9.15 billion (US$1.2 billion)  in Hong Kong IPO, the city’s biggest listing this year. Pricing & Timeline:  Offering 297.4m shares at HK$27.75–HK$30.75; final pricing Sept 24, trading to start Sept 25. Investor Backing:  Cornerstone investors committed up to  US$587m , boosting confidence in demand. Use of Proceeds:  35% allocated to  R&D  across passenger vehicle models; 25% to develop  next-gen vehicles within 3 years. Strategic Expansion:  Chery accelerating entry into Europe, with new SUV launches in the UK under Chery, Omoda, and Jaecoo brands. IPO Context The deal marks Hong Kong’s largest IPO in 2025, standing out in a subdued capital-raising year dominated by secondary listings. By comparison, battery giant CATL’s May offering raised US$4.6b, setting the regional benchmark. Strategic Growth Plans Chery is positioning itself as a rising player in the...

  Key Takeaways: Klarna priced its US IPO at  US$40 per share , raising  US$1.37 billion , above the expected range. The deal values the Swedish BNPL firm at  US$15.1 billion , well below its 2021 peak of US$45 billion but above its 2022 low of US$6.7 billion. The offering was oversubscribed  25 times , underscoring revived investor appetite for fintech listings despite tariff-driven market volatility. Market Reaction Klarna’s IPO comes amid a broader rebound in equity markets and strong demand for new listings, following recent blockbuster debuts in both fintech and crypto sectors. The deal highlights investor willingness to back high-growth but unprofitable fintechs in a more selective macro backdrop. Klarna’s debut on the NYSE under ticker  KLAR  will be closely watched as a bellwether for BNPL adoption and fintech valuations more broadly. Financial Performance & Challenges Revenue:  Rose to US$823 million in Q2 2025, up from US$682 million...

 Key Highlights Listing timeline:  Early 2026 on Bursa Malaysia Structure:  IPO of up to 1.97B shares (new + existing) Dividend-in-specie:  1 Sunway Healthcare Holdings (SHH) share for every 10 Sunway shares Ownership post-listing:  Sunway to retain  69.5% stake  in SHH Scale:  5 hospitals, 1,662 beds; targeted capacity of 3,400 beds by 2032 Corporate Restructuring & Shareholder Benefit Sunway Bhd (KL:SUNWAY) has unveiled long-awaited plans to list its healthcare subsidiary,  Sunway Healthcare Holdings Bhd (SHH) , by early 2026. Ahead of the IPO, SHH will execute a  1-for-9 share split , increasing its share base from 1.2B to 10.9B, without altering its RM2.2B valuation. SunCity, Sunway’s wholly-owned unit, will distribute SHH shares to Sunway as a  special dividend , which will then be passed on to Sunway shareholders. Each shareholder will receive  1 SHH share for every 10 Sunway shares held , effectively giving investors...

 IPO Plans in Motion Klook , the Hong Kong-based travel booking platform, has tapped  Goldman Sachs, Morgan Stanley, and JPMorgan  to arrange a potential  U.S. initial public offering (IPO) , according to sources familiar with the matter. The IPO could raise about  $500 million  and may launch as early as  this year , though the final timing and size will depend on market conditions. It remains unclear if the offering will involve  new shares, investor sell-downs, or a mix of both . Market Backdrop: IPO Window Reopening The U.S. IPO market is showing renewed strength, supported by: Robust tech earnings Easing trade tensions  between the U.S. and key partners Recent high-profile listings, including  crypto exchange Bullish  and  design software maker Figma , which signal stronger investor appetite. This is a sharp turnaround from earlier in the year, when  uncertainty over Trump’s tariff policies  weighed on equity iss...