Kuala Lumpur News

I-City Gains Alrajhi

I-Bhd has signed a sale and purchase agreement with Al Rajhi Banking & Investment Corporation (Malaysia) Bhd for a commercial property in i-City, marking the participation of an international Islamic banking group in the development.
The company said the asset is located opposite its AI Living development and next to Central i-City Mall, reflecting continued institutional interest in i-City’s integrated ecosystem of residential, commercial, hospitality and digital infrastructure.
I-Bhd said the transaction highlights confidence in i-City’s AI-driven urban direction, including its focus on AI-enabled living, robotics and digital infrastructure, while strengthening i-City Finance Avenue’s emergence as a financial and commercial hub in Selangor.
Tan Sri Lim Kim Hong, Chairman of I-Bhd, said: “This development reflects continued institutional confidence in i-City’s long-term vision as an AI-enabled urban platform. The participation of global financial institutions adds an important institutional dimension to our ecosystem, complementing the broader mix of residential, commercial and digital infrastructure within the development.”
He added: “Our focus on AI Living and next-generation urban solutions is beginning to attract like-minded global players who see value in how cities will evolve in the future. Together, the presence of global financial institutions and integrated digital infrastructure positions i-City not just as a place to operate, but as a platform where economic activity and technology converge.”

Golden IPO Demand

Golden Destinations Group Bhd’s initial public offering has been oversubscribed by 2.10 times ahead of its ACE Market debut on Bursa Malaysia on April 16, 2026.
The outbound travel company said it received 3,444 applications for 154,890,300 issue shares worth about RM69.70 million from the Malaysian public for its 50 million public issue shares.
Its IPO involves 200 million new ordinary shares, including 35 million shares reserved for eligible directors, employees and contributors, 90 million shares placed out to institutional and selected investors, and 25 million shares allocated to approved Bumiputera investors.
Golden Destinations said the 35 million shares for eligible persons were fully subscribed, while UOB Kay Hian confirmed the 90 million shares under the institutional and selected investors tranche had also been fully placed out.

EPB Main Move

EPB Group Bhd has proposed transferring its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd, in a move it said reflects the next stage of its growth and corporate maturity.
The food processing and packaging machinery solutions provider said it will also amend its Constitution to align with Main Market Listing Requirements. The changes are mainly technical, including updates to definitions and governance-related provisions.
Among the proposed amendments are provisions on the tenure of independent directors, where service beyond nine years would be capped at 12 years, subject to shareholders’ approval through a two-tier voting process in line with the Malaysian Code on Corporate Governance.
Yeoh Chee Min, Managing Director of EPB Group Berhad, commented, “The Proposed Transfer to the Main Market represents a natural progression for EPB as we continue to scale our business and strengthen our regional presence. These amendments ensure that our governance framework remains aligned with higher regulatory standards, reflecting our commitment to transparency, accountability and long-term value creation.”
The proposed amendments are subject to shareholder approval at an extraordinary general meeting scheduled for April 8, 2026 in Penang, and will take effect only if EPB successfully transfers to the Main Market.

PSP Shell Pact

PSP Energy Bhd has formalised its participation in the Shell Carbon Compensation Programme 2026, in a move aimed at addressing unavoidable fleet emissions linked to its fuel usage.
The commercial fuel, bunkering and lubricants solutions provider said the collaboration supports its broader sustainability efforts, with Shell calculating lifecycle emissions tied to fuel consumption and retiring carbon credits from its global portfolio of nature-based projects. Shell also issues a retirement certificate as proof of compensation.
PSP Energy said the partnership reflects a practical approach to balancing operational needs with environmental responsibility, especially in sectors where diesel remains necessary and is not easily replaced in the near term.
Ong Chee Seng, Group Managing Director of PSP Energy Berhad, stated that the signing represents a significant milestone in the Company’s ongoing sustainability journey. As an organisation operating within essential fuel and marine-related sectors, PSP Energy acknowledges that decarbonisation is a gradual process requiring practical and scalable solutions. Participation in Shell’s Carbon Compensation Programme enables the Company to take a measured and responsible approach in addressing unavoidable emissions, while maintaining operational efficiency and continuing to meet customer needs.
The company said the collaboration builds on its earlier participation in Shell’s programme, under which it received a certificate in January 2024 confirming that 729 carbon credits had been retired against emissions associated with Shell products it purchased in 2023.

Eckem IPO Pact

Eckem Holdings Bhd has signed an underwriting agreement with M & A Securities Sdn Bhd for its proposed ACE Market listing on Bursa Malaysia Securities Bhd.
The specialty industrial chemical solutions provider said its IPO will comprise 125 million new shares and an offer for sale of 62.5 million existing shares, according to its exposed prospectus on Bursa Securities’ website.
M & A Securities will underwrite 62.5 million shares allocated to the Malaysian public and eligible persons, while the remaining shares will be placed out to Bumiputera investors approved by MITI and selected investors via private placements.
Tan Khai Jeik (Jack Tan), Executive Director of Eckem Holdings Berhad, said, “The underwriting agreement marks an important milestone in Eckem Holdings’ corporate journey. We are grateful for the confidence and support shown by M & A Securities for our listing on the ACE Market. The IPO will allow us to strengthen our operational capabilities, increase production capacity, and enhance our ability to customise specialised industrial chemical solutions to meet evolving customer requirements and market demands.”
The company said IPO proceeds will go towards a new corporate office, warehouse and laboratory, a new rubber products production line, repayment of bank borrowings, working capital and listing expenses.

INNO4HER Winners Named

Navo Health and MenSC Labs were named champions at the Alpha Startups INNO4HER 2026 Demo Day held at Microsoft Malaysia’s Kuala Lumpur office on March 31, 2026, while Bosom won the Crowd Favourite title.
The event marked the conclusion of a three-month hybrid accelerator run by 1337 Ventures, featuring its most competitive cohort to date.
Ten finalists from five countries pitched live before regional venture capitalists, angel investors and healthcare leaders, competing for recognition in the women’s health innovation space.

Inspace Signs Underwriting Deal

Inspace Creation Berhad has signed an underwriting agreement with TA Securities Holdings Berhad ahead of its planned ACE Market listing on Bursa Malaysia. The IPO will involve 68.50 million new shares and an offer for sale of 29.30 million existing shares.
The interior fitting-out specialist, which focuses on commercial office properties, has completed more than 100 projects worth about RM150 million to date. Its portfolio includes projects at TRX, Bukit Bintang and other commercial hubs across Selangor and Kuala Lumpur.
Of the 68.50 million new shares, 18.47 million will be offered to the Malaysian public, 8.50 million will be set aside for eligible directors, employees and contributors, while 41.53 million will go to selected investors via private placement. Another 29.30 million existing shares will also be offered to selected investors by way of private placement.
Wong Chong Siong, Executive Director of Inspace Creation Berhad, remarked, “The signing of this underwriting agreement represents another important milestone in Inspace Creation’s journey towards becoming a listed company. Our IPO will provide the necessary financial resources to strengthen our position and enable us to undertake more projects or projects of higher value. This strategic move supports our expansion into new commercial segments and regional markets beyond the Klang Valley.”
TA Securities is acting as the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO.

Inspace IPO move

Inspace Creation Berhad has registered its prospectus for its proposed listing on the ACE Market of Bursa Malaysia Securities, with the IPO expected to open for application on April 13, 2026 and listing targeted for May 8, 2026.
The IPO comprises a public issue of 68.50 million new shares and an offer for sale of 29.30 million existing shares.
The company, which provides interior fitting-out services in Malaysia, posted revenue of RM57.75 million and profit after tax of RM7.05 million for the financial year ended November 30, 2024, up from RM31.20 million in revenue and RM2.48 million in profit after tax a year earlier. As at July 28, 2025, its order book stood at RM21.22 million.
Commenting on the milestone, Executive Director of Inspace Creation Berhad, Wong Chong Siong, said, “The registration of our prospectus marks a meaningful milestone in Inspace Creation’s corporate journey and reflects the progress we have made in building our position in Malaysia’s interior fitting-out industry. Over the years, we have steadily grown our capabilities across project planning, design conceptualisation and build, execution, and maintenance, allowing us to deliver integrated solutions that meet our clients’ functional, aesthetic and operational requirements. As we move closer to our listing, we look forward to strengthening our market presence, enhancing our operational capabilities and positioning the Company for its next phase of growth.”
TA Securities Holdings Berhad is the principal adviser, sponsor, underwriter and placement agent for the IPO. Inspace said the proceeds will be used for capital expenditure, working capital, repayment of bank borrowings and listing expenses, with plans to set up a storage and mock-up space in Klang Valley and invest in technology and systems.

CUCKOO Declares Dividend

CUCKOO Malaysia has declared its maiden dividend since listing, announcing a final single-tier dividend of 1.84 sen per ordinary share for the financial year ended December 31, 2025.
The total payout of RM26.4 million represents about 25.1 per cent of the company’s RM105.2 million profit after tax for FYE2025, exceeding its dividend policy target of at least 20 per cent.
The dividend will be paid on May 15, 2026, to shareholders on record as at April 27, 2026.
Hoe Kian Choon (KC Hoe), CUCKOO Malaysia’s Non-Independent Executive Director and Chief Executive Officer said, “Our focus for FYE2025 has been on the quality of our earnings and the resilience of our cash flow. The strength of our RM105.2 million profit has allowed the Board to propose a distribution that goes beyond our stated dividend policy, returning RM26.4 million to our shareholders. The dividend reflects our commitment to delivering returns to shareholders while maintaining discipline in capital allocation. As we build for the future, we remain focused on balancing shareholder distributions with reinvestment priorities that support our long-term growth as a service-led, rental-based healthy home solutions platform. This approach ensures we deliver tangible value to our shareholders while preserving the agility and financial strength needed to drive long-term value creation and future growth.”