Kuala Lumpur News

GHS Holdings IPO

Kuala Lumpur, Jan 5: Guan Huat Seng Holdings Berhad (“GHS Holdings”), a Melaka-based distributor and retailer of food products and manufacturer of flavouring products, has launched its IPO prospectus ahead of a planned listing on the ACE Market of Bursa Malaysia Securities Berhad.
The Group’s “Guan Huat Seng” brand traces back to the 1930s. It has since grown into a diversified distributor and retailer of shelf-stable and frozen seafood, flavouring products, dried food and snacks and general grocery items, supported by in-house Halal-certified manufacturing of sauces, pastes and seasoning powders with HACCP and MeSTI certifications.
Following the IPO, GHS Holdings aims to raise RM30 million via a public issue of 120 million new shares at RM0.25 per share. Proceeds will be used to part finance a new integrated complex, develop a new Krubong facility, fund working capital, cover marketing costs and pay listing expenses.
Malaysia’s distributive trade of F&B products recorded a CAGR of 7.6 per cent between 2022 and 2024, with growth in 2026 projected at five per cent, supported by tourism and retail activity including the Visit Malaysia 2026 campaign.
Applications for the public issue are open from 5 January 2026 to 9 January 2026. GHS Holdings is scheduled to list on 22 January 2026 with an expected market capitalisation of about RM118.38 million based on the issue price and an enlarged share capital of 473,500,100 shares. TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.

MSB Global JV

Kuala Lumpur, Jan 5: MSB Global Group Berhad has signed a joint venture agreement via its wholly-owned subsidiary, MSB Machinery Corporation (Malaysia) Sdn Bhd, with Thai Sin Anant Rubber Factory (2516) Co., Ltd. (TSAR) to establish a new JV company in Thailand as part of its regional expansion strategy.
TSAR, founded in 1973, is an established Thai manufacturer of power transmission belts for automotive, industrial and agricultural applications, serving OEM, OES and aftermarket customers. Its long operating track record and strong local presence make it a complementary partner for MSB Global’s entry into Thailand’s aftermarket automotive sector.
The new JV will be the sole distributor of automotive parts under the “Gold Series” brand in Thailand, focusing on the import, distribution and sale of suspension components, shock absorbers and related parts. The company will have a paid-up capital of THB5.0 million, with TSAR holding 81% and MSB Machinery 19%, and a three-member board with representation from both sides.
For MSB Global, the collaboration extends its aftermarket automotive model beyond Malaysia, leveraging Thailand’s mature automotive ecosystem and sizeable replacement parts market to scale the “Gold Series” brand in Southeast Asia. The JV is expected to contribute positively to earnings over time but will not have an immediate material impact on share capital or net assets. The agreement was entered into in the ordinary course of business and does not require shareholder or regulatory approvals.
Datuk Ow Kee Foo, Managing Director of MSB Global Group Berhad, commented, “This joint venture reflects MSB Global’s disciplined approach to regional expansion. By partnering with a reputable local manufacturer with deep market knowledge, we are able to enter Thailand in a capital-efficient manner while retaining strategic exposure to growth in one of ASEAN’s largest automotive markets.”
He added, “The ‘Gold Series’ brand has been well received in our existing markets, and this collaboration allows us to replicate our distribution-led model in Thailand with the right local execution capabilities. Importantly, the structure of the joint venture ensures operational focus while aligning long-term interests between both parties.”

SCIB Plans Bintulu Project

Kuching, Jan 6: Sarawak Consolidated Industries Berhad (SCIB) has signed a development agreement to jointly develop a mixed-use project on a 11.1-hectare vacant land parcel at Sungai Sibiau, Bintulu, Sarawak.
The project, to be undertaken via wholly-owned subsidiary SCIB Development Sdn Bhd together with the registered landowners of Lot 88, Kemena Land District, will comprise residential and commercial components to be rolled out in three phases, starting with housing.
SCIB Development will serve as project developer, handling planning, approvals and execution, while the landowners are entitled to 23 per cent of the project’s gross development value under mutually agreed terms. SCIB said the overall development value and financial impact have yet to be determined as the project is still at the planning stage.
Datuk Chong Loong Men, Executive Chairman of SCIB, said the agreement aligns with the Group’s longer-term strategy to broaden its business base. “This project allows us to extend our footprint into property development while building on our established engineering and construction capabilities. Bintulu remains a strategic location, and we believe this collaboration positions the Group for sustainable growth over the medium to long term,” he said.
SCIB added that the project forms part of its efforts to build a more diversified and resilient business platform by combining its construction expertise with selective property development opportunities, with the development expected to support long-term growth and create value for the local community in Bintulu.

Senheng Launches Point Economy

Kuala Lumpur, Jan 6: Senheng New Retail Berhad (“Senheng”), one of Malaysia’s largest consumer electronics retailers, has launched its 9th Transformation – the Point-Based Economy Business Model (“PBE”) – positioning its S-Coin reward currency as a core engine for customer engagement and growth. Announced at a media briefing at Grand Senheng Pandan Jaya, the move aims to tackle sector challenges such as softer revenue, intense competition, underperforming e-commerce and margin pressure.
The PBE underpins Senheng’s Flywheel 2.0 Business Direction 2026, which comprises six interlinked dimensions and 30 initiatives to rebuild demand, drive revenue, deepen loyalty, enhance margin quality and boost operational efficiency. Key efforts include accelerating S-Coin issuance, higher-impact “Untung Gila” campaigns, stronger Super Store activation, and expanding chat commerce and affiliate channels to drive repeat purchases and omnichannel engagement.
On the digital side, Senheng is targeting better conversion and reliability through improved fulfilment readiness, data-driven initiatives and tighter integration across its omnichannel ecosystem, alongside optimising underperforming stores, scaling direct distribution brands and expanding into higher-margin categories.
Speaking at the event, Lim Kim Heng, Managing Director of Senheng New Retail Berhad, said: “Point-Based Economy Business Model marks a pivotal step in Senheng’s next transformation and reflects our belief that this model can reshape how Malaysia’s consumer electronics retail industry creates and sustains value. It is a disciplined, structured approach to rebuilding demand, strengthening our value proposition, and improving earnings quality, all while maintaining a clear focus on long-term sustainability.”
Meanwhile, Lim Yau Young, Corporate Strategy Officer of Senheng New Retail Berhad, added: “The PBE Business Model plays a central role in Flywheel 2.0. By improving customer lifetime value, lowering acquisition costs and strengthening margin resilience, we are laying a stronger foundation for future growth while navigating a challenging retail landscape. Overall, our goal is to deliver the highest level of customer satisfaction with every shopping experience.”
Senheng said PBE and Flywheel 2.0 are intended to reinforce its market position by integrating data, technology and customer-centric initiatives into a more agile and resilient operating model, while continuing to deliver value to customers and shareholders.

Master Tec Wins Option

Melaka, Jan 6: Master Tec Group Berhad (“Master Tec”), a leading manufacturer and distributor of power, control and instrumentation cables, has secured an Optional Value award of RM32.86 million from Tenaga Nasional Berhad (“TNB”) under Contract TNB104/2025 for the supply and delivery of underground cables and conductors for TNB’s distribution network. With the Optional Value exercised, the total contract value rises to RM142.40 million from the original RM109.54 million, governed by specific performance and quality criteria within the existing contractual framework.
The contract, which covers underground cables and conductors of various sizes, further strengthens Master Tec’s role as a trusted supplier to Malaysia’s national utility in grid reinforcement, underground cabling and distribution network upgrade projects. Mr. Tee Kok Hwa, Chief Executive Officer of Master Tec Group commented, “The award of this Optional Value by TNB underscores the strength of our execution capabilities and the consistency of our product quality. It further validates our long-standing relationship with TNB and highlights Master Tec’s role in supporting Malaysia’s power distribution infrastructure. We view this as a strong endorsement of our manufacturing platform and operational discipline.”
Master Tec recently posted another record quarter for Q3 FY2025, with revenue rising 32.2% to RM115.83 million from RM87.63 million in Q3 FY2024, reflecting sustained demand for its cable products and infrastructure solutions. The Group said it remains focused on high execution standards, quality assurance and timely delivery, while strengthening manufacturing capabilities and efficiency to meet the evolving needs of Malaysia’s power distribution network. As at 5.00 p.m. on 6 January 2026, Master Tec’s share price closed at RM1.13, valuing the Group at RM1.15 billion.