Kuala Lumpur News

Adnex Launches IPO Prospectus

Adnex Group Berhad, an interior fit-out services provider, has launched its prospectus ahead of a planned listing on the ACE Market of Bursa Malaysia Securities Berhad.
The company, via its main subsidiary Adnex Interior Solution Sdn. Bhd., provides design realisation, project management and turnkey interior fit-out solutions for corporate offices, F&B outlets and sales galleries, backed by a client base spanning local and multinational firms.
Adnex expects to raise RM18.10 million from the public issue of 90.50 million new shares priced at RM0.20 each, with proceeds allocated to business expansion (RM6.40 million), performance bonds (RM3.00 million), repayment of bank borrowings (RM1.20 million), working capital (RM3.90 million) and listing expenses (RM3.60 million).
Kan Wai Chun, Managing Director of Adnex Group Berhad shared, “The launch of our Prospectus represents an important step forward as we transition into a public listed company and enter a new phase of growth, accountability and opportunity. From a home-grown interior fit-out company into a professionally managed, regionally ambitious organisation, we have built up capabilities in executing interior fit-out works to serve a diverse client base. He further added that, “The IPO will provide us with the financial resources to further strengthen our project delivery capabilities, invest in advanced equipment and digital technologies, and expand our presence into East Malaysia and selected overseas markets. We remain committed to delivering design precision, quality execution and sustainable value to our clients and stakeholders.”

Truecaller Expands Ad Sales

Truecaller has announced a strategic direct sales reseller partnership with AnyMind Group to accelerate the growth of its advertising business across the Middle East & North Africa (MENA) and Southeast Asia (SEA).
Under the agreement, AnyMind Group will act as the exclusive intermediary for Truecaller’s advertising inventory across key markets including Egypt, UAE, Qatar, Saudi Arabia, Israel, Ghana, Nigeria, Morocco, Malaysia, Singapore and Vietnam, enabling brands and agencies to access Truecaller’s premium ad formats.
The collaboration leverages AnyMind Group’s regional presence and advertiser relationships alongside Truecaller’s global scale, proprietary data capabilities and high-engagement user base to deliver targeted, data-driven advertising solutions in high-growth digital markets.
Commenting on the partnership, Hemant Arora, Vice President & Global Head Truecaller Ads Business, said, “As Truecaller continues to expand its global advertising business, partnerships with strong regional players like AnyMind Group are critical to delivering localized expertise and measurable outcomes for advertisers. MENA and Southeast Asia represent high-growth markets with evolving digital maturity, and through this collaboration, we aim to bring brands closer to consumers via trusted and contextual communication experiences on our platform.”
Aditya Aima, Managing Director, Growth Markets; Co-MD, India and MENA from AnyMind Group added, “We are excited to partner with Truecaller to open its inventory to brands across MENA and Southeast Asia. With Truecaller’s scale and trusted user ecosystem, combined with our market depth and networks, we see strong potential to drive more relevant, high-impact advertising outcomes for advertisers looking to deepen engagement in these dynamic markets.”

SumiSaujana Revenue Jumps

SumiSaujana Group Berhad reported a sharp 134.2% year-on-year revenue increase for Q4 FY2025, with quarterly revenue rising to RM65.4 million from RM27.9 million. Profit Before Tax (PBT) grew 14.8% to RM7.0 million, supported by stronger contract fulfilment and improved operational delivery.
Malaysia remained the primary revenue driver, contributing RM38.1 million or 58.3% of total quarterly revenue, largely due to the completion of a major secured contract worth RM28.3 million. Thailand and Indonesia contributed RM11.7 million and RM4.8 million respectively, while RM10.8 million came from other international markets.
Gross profit rose to RM16.5 million, translating into a gross profit margin of 25.3%, slightly lower than the previous year due to a less favourable product mix. The group recorded a net foreign exchange loss of RM1.3 million; excluding this impact, quarterly PBT would have been approximately RM8.3 million. On a quarter-on-quarter basis, revenue climbed 50.0%, with PBT improving significantly from RM0.3 million.
For FY2025, revenue increased 15.8% to RM183.6 million. Despite higher sales, full-year PBT declined to RM12.8 million due to foreign exchange losses and one-off listing expenses. Cash and cash equivalents strengthened to RM90.5 million following the company’s ACE Market listing.
Norazlam Bin Norbi, Executive Director/ Chief Executive Officer of SumiSaujana, commented, “Q4 reflects the strength of our execution capabilities, particularly in Malaysia where contract fulfilment drove substantial revenue growth. While currency volatility and product mix affected margins during the year, our core operations remain resilient. With improved cost discipline, expanded facilities in Puncak Alam and growing international traction, we are positioning the Group to enhance earnings stability and operational resilience going forward.”

Hektar REIT Boosts Occupancy

Hektar Real Estate Investment Trust (Hektar REIT) posted a steady Q4 FY2025 performance, with retail committed occupancy improving to 85.8% and achieving 2.5% positive rental reversion as leasing activity picked up across its mall portfolio.
Quarterly revenue rose 2.4% YoY to RM30.75 million, supported by stronger rental income, while net profit after tax climbed 11.1% YoY to RM5.90 million, aided by a fair value gain on investment properties. For FY2025, revenue was stable at RM124.73 million, though income metrics were weighed down by a one-off RM4.0 million asset enhancement expenditure.
As at 31 December 2025, total assets stood at RM1.46 billion and NAV per unit strengthened to RM1.0497. The REIT declared FY2025 distribution of 2.18 sen per unit, equivalent to a 5.01% yield.
Operationally, the manager continued asset enhancement and tenant remixing initiatives across key malls including Subang Parade, Central Square and Segamat Central, while advancing a rooftop solar initiative across five shopping centres that is expected to be fully operational by Q1 2026 and deliver about RM2 million in annual energy savings.
Zainal Iskandar, Executive Director and Chief Executive Officer of Hektar Asset Management, said, “The fourth quarter closes the year on a steady footing, with revenue growth and improved profitability reflecting the resilience of our retail portfolio. While one-off asset enhancement costs weighed on realised income, the underlying rental momentum and fair value uplift demonstrate improving asset quality. We remain disciplined in capital deployment and focused on strengthening income visibility through proactive asset management and strategic acquisitions.”
The manager said it is also progressing proposed acquisitions—including an industrial asset in Bayan Lepas and education-related land in Melaka—targeted for completion by 1Q26, as it pivots toward a more diversified portfolio amid ongoing global uncertainty.

Ge-Shen Earnings Soar

Ge-Shen Corporation Berhad posted a sharp jump in earnings for Q4 FY2025, driven by stronger contract manufacturing contributions and improved operational throughput across its facilities in Malaysia and Vietnam.
Quarterly revenue rose 80.5% YoY to RM105.10 million, supported by sub-assembly contract manufacturing and continued ramp-up of customer programmes. Profit Before Tax surged 703.2% to RM13.79 million, while Profit After Tax jumped 913.6% to RM10.15 million, aided by higher production volumes, manufacturing efficiency gains, cost optimisation measures, and a gain from the disposal of a factory in Sungai Petani, Kedah.
For FY2025, Ge-Shen recorded revenue of RM364.87 million (+32.6% YoY), with PBT up 140.2% to RM41.04 million and PAT rising 151.0% to RM32.22 million, reflecting sustained demand from key customers and ongoing operational transformation initiatives.
Dr. Adrian Foong Hong Nian, Chief Executive Officer cum Executive Director of Ge-Shen said, “Our strong fourth quarter performance reflects the effectiveness of our operational transformation strategy and our focus on higher value-added contract manufacturing. The continued ramp-up of customer programmes, enhanced production efficiency, and disciplined cost management have significantly strengthened our earnings profile and positioned Ge-Shen for sustainable long-term growth.”
The group also said it is proceeding with a private placement to strengthen its capital base, noting the board fixed the issue price for the second tranche of Private Placement 1 at RM1.52 per share on 23 Feb 2026.
Separately, shareholders approved the acquisition of an additional 40% stake in Local Assembly, raising Ge-Shen’s shareholding to 80%, with the company expecting the move to support future revenue and profitability, including in data centre and AI-related connectors.

SCIB Revenue Update

Sarawak Consolidated Industries Berhad (SCIB) reported RM54.00 million in revenue for the sixth quarter ended 31 December 2025 (Q6 FPE2025), closing its extended 18-month financial period following a change in financial year end.
Revenue was mainly contributed by the Construction and EPCC and Manufacturing segments. During the quarter, the group recognised impairment losses on trade and other receivables as part of a balance sheet strengthening exercise.
The Manufacturing segment, classified as a discontinued operation following a conditional disposal agreement, recorded RM36.02 million in revenue and RM1.14 million in profit before tax for the quarter. Over the 18-month period from 1 July 2024 to 31 December 2025, the segment contributed RM182.06 million in revenue and RM14.56 million in profit before tax.
The Construction and EPCC segment posted RM17.87 million in quarterly revenue, with performance impacted by impairment provisions. Cumulatively, the segment generated RM93.34 million over the extended financial period. Group revenue for the 18-month period totalled RM276.19 million.
SCIB said it has entered into a conditional share sale and purchase agreement to dispose of its entire equity interest in SCIB Concrete Manufacturing Sdn. Bhd. for an indicative RM113.00 million cash consideration. Assets held for sale stood at RM192.82 million as at 31 December 2025.
Datuk Chong Loong Men, Executive Chairman of SCIB, commented, “Q6 FPE2025 marks a transitional milestone for SCIB as we take decisive steps to streamline our business model and reinforce our financial foundation. The impairment provisions recognised reflect a prudent reset as we reposition the Group towards a more focused Construction and EPCC strategy. With the proposed disposal and approved capital initiatives, we are strengthening our balance sheet to better capture infrastructure opportunities across Sarawak and Malaysia.”
The company added that approved capital initiatives — including a renounceable rights issue and share capital reduction — are intended to optimise capital structure and enhance liquidity as SCIB advances its Construction and EPCC-focused strategy.