Kuala Lumpur News

MN Holdings secures RM122.31m TNB contract

MN Holdings Berhad’s wholly-owned subsidiary, MN Utilities Engineering, has secured a RM122.31 million contract from Tenaga Nasional Berhad, in a joint venture with Pembinaan Tajri, to install a new Double Circuit 132kV underground cable from PMU Tasek Gelugor to PMU Bertam.
Under the arrangement, MN Utilities Engineering will handle 80% of the scope of works, with Pembinaan Tajri responsible for the remaining 20%. The project covers engineering, design, supply and installation of the cable system, along with associated permitting and site restoration works. It takes effect from 10 August 2026 and is expected to be completed within 450 days.
Datuk Clement Toh, Managing Director of MN Holdings, said the contract reinforces the group’s role in supporting Malaysia’s power transmission infrastructure and reflects confidence in its technical and execution capabilities. He added that the award also underscores the company’s ability to win infrastructure work beyond the data centre segment.

BMS Holdings Breaks Ground on Seremban 2 Showroom

BMS Holdings Berhad has broken ground on a new flagship showroom in Seremban 2, Negeri Sembilan, expanding its Jubin BMS retail network. The purpose-built development will span more than 37,000 sq ft, housing showroom space, storage and warehousing, offices and support facilities, and is due for completion by December 2027.
Built on land acquired by the Group rather than leased, the site sits near AEON Mall Seremban 2 and is positioned to serve the township’s established residential base as well as ongoing new housing development in the area. It is expected to become Jubin BMS’ largest showroom in Seremban, offering an expanded range of tiles, stone surfaces, sanitary ware and other home-finishing products.
The project forms part of BMS Holdings’ wider push to build out larger-format showrooms in key growth areas across Malaysia, reflecting the importance of in-person viewing and design consultation in the tiles and sanitary ware business.

MN Holdings Moves to Main Market

MN Holdings Berhad has completed its transfer from the ACE Market to the Main Market of Bursa Malaysia Securities, marking a key milestone since its ACE Market listing. The move reflects the infrastructure utilities construction and engineering solutions specialist’s strengthened financial performance, expanded operational scale, and growing capabilities in delivering power and utilities infrastructure projects.
The Main Market listing is expected to raise MN Holdings’ corporate profile, boost investor confidence, and widen its visibility among institutional and retail investors, giving the Company a stronger platform as it continues to take part in Malaysia’s infrastructure, power, energy and utilities development.
Going forward, the Group plans to expand its footprint across Malaysia’s infrastructure, power, energy and utilities sectors, pursuing opportunities aligned with its technical expertise while focusing on sustainable growth and long-term shareholder value.

Tex Cycle Q2 Revenue Jumps 180%

Tex Cycle Technology (M) Berhad reported revenue of RM24.1 million for the second quarter ended 30 June 2026, up 180% from RM8.6 million a year earlier. Profit before tax rose 25% to RM4.3 million, while profit for the period stood at RM3.1 million, with basic earnings per share of 1.16 sen. Growth was driven by stronger demand in the recovery and recycling division and contributions from Meridian World Sdn. Bhd.
The recovery and recycling division remained the Group’s main growth engine, with revenue up 322% year-on-year to RM22.4 million, while the renewable energy division brought in RM1.2 million from its solar Feed-in-Tariff plant and Corporate Renewable Energy Power Purchase Agreement projects.
For the first half of FY2026, revenue climbed about 155% to RM44.8 million, with profit before tax up 38% to RM8.2 million and profit for the period rising to RM6.6 million.
The Group is expanding into high-value waste by-product processing through Meridian, BiobiN and compost production, and oil and gas waste treatment at its Telok Gong facility. On 7 July 2026, subsidiary Tex Cycle (P2) Sdn. Bhd. entered a Collaboration Agreement with Anggun Kitar Resources Sdn. Bhd. to jointly manage a broader range of scheduled wastes under the Environmental Quality (Scheduled Wastes) Regulations 2005.

Malaysia, Hong Kong Strengthen Business Ties

Perth, Aug 12: Malaysia and Hong Kong are strengthening economic ties, with about 1,600 business leaders gathering in Kuala Lumpur for the Hong Kong Trade Development Council’s (HKTDC) Think Business, Think Hong Kong symposium.
The event connected Malaysian companies with Hong Kong investors, government representatives, entrepreneurs and professional service providers, with more than 300 business matching meetings arranged. Ten memoranda of understanding were also signed, highlighting growing cooperation between the two markets.
Discussions focused on opportunities for Malaysian businesses to use Hong Kong as a gateway to the Chinese Mainland and international markets, particularly in areas including trade and investment, green finance, technology, healthcare and regional expansion.
HKTDC Chairman Prof Frederick Ma said: “Especially at times like these – when businesses are navigating geopolitical uncertainty, evolving supply chains and rapid advances in technology – trusted connections and strong networks are more valuable than ever.”
Hong Kong Secretary for Commerce and Economic Development Algernon Yau highlighted Hong Kong’s role in helping Malaysian companies enter the Chinese Mainland market, while Malaysia’s Transport Minister Loke Siew Fook pointed to the strong transport and logistics links between the two economies.
“If your business depends on moving a product from a Malaysian factory to a customer anywhere in Asia, Europe or North America quickly and with the documentation in order, this is a corridor you should be examining closely,” Loke said.
The symposium also featured sessions covering renminbi opportunities, sustainable finance, regional business resilience, and the international expansion of life and health technologies

Crowe Malaysia Hosts Mandarin IPO Conference

Perth, Aug 12: Crowe Malaysia has hosted the inaugural Mandarin edition of its flagship IPO Conference in Kuala Lumpur, bringing together more than 90 business leaders, capital market professionals and industry specialists.
Themed “Unlocking the Secrets of a Successful IPO”, the conference was aimed at Malaysia’s Mandarin-speaking business community and covered IPO readiness, listing requirements, financial reporting, governance and the transition from private ownership to becoming a publicly listed company.
Bursa Malaysia Assistant Vice President of IPO Marketing Lee Shee Nah delivered the keynote address on Malaysia’s evolving IPO landscape. The event also featured Oriental Kopi Holdings Berhad Founder and Managing Director Dato’ Calvin Chan and MN Holdings Berhad Managing Director Dato’ Clement Toh, who shared their experiences of taking their companies public.
Crowe Malaysia Audit Partner Piong Yew Peng said: “Malaysia’s Mandarin-speaking business community has played a significant role in the country’s entrepreneurial success. Through our first Mandarin edition of the IPO Conference, we hope to make practical IPO insights and professional expertise more accessible to founders and business leaders preparing for their next stage of growth. As Malaysia’s capital market continues to evolve, we believe that greater access to knowledge and guidance can help more businesses make informed decisions about their listing journey.”
Crowe Malaysia said the conference forms part of its efforts to support businesses considering public listings as Malaysia’s capital market continues to develop.

DPS Plans 89MW Data Centre

Perth, Aug 12: DPS Resources Berhad’s wholly owned subsidiary Shantawood Sdn Bhd (SSB) has signed a memorandum of understanding with BBSB Holdings Sdn Bhd for a proposed data centre development in Malaysia with capacity of up to 89 megawatts (MW).
The proposed collaboration could eventually expand to as much as 400MW, subject to technical feasibility, regulatory approvals, infrastructure availability, commercial terms and definitive agreements.
Under the proposed phased development, 20MW is targeted for delivery in 2027, followed by 20MW in 2028, another 20MW in 2029 and 29MW in 2030. BBSB may participate as a strategic partner and support the identification and coordination of potential users, tenants and capacity requirements.
SSB owns the relevant land and existing factory rights and plans to convert the proposed facility into a high-specification data centre.
DPS Resources Group Chairman and Founder Tan Sri Dato’ Sri Dr. Sow Chin Chuan said, “This MOU marks another meaningful step in DPS’ strategy to advance our data centre development pipeline in Melaka. Through the proposed collaboration with BBSB, we aim to explore a phased approach to data centre capacity development, beginning with up to 89MW and with the potential to scale further, subject to the relevant approvals, feasibility assessments and definitive agreements. As a landowner with existing factory rights and infrastructure development capabilities, DPS is focused on unlocking the long-term value of our assets through high-specification digital infrastructure.”
DPS said previous consultations and assessments had indicated power capacity availability for its data centre initiatives, while water supply availability has also been validated. SSB has received a letter of support from the Chief Minister of Melaka and submitted relevant documents to the Data Centre Task Force for consideration and approval.

Pioneer Heat Launches RM21.68m IPO

Perth, Aug 12: Pioneer Heat Holdings Berhad has launched its prospectus for an initial public offering (IPO) on Bursa Malaysia’s ACE Market, seeking to raise RM21.68 million to fund expansion and strengthen its mechanical engineering operations.
The IPO comprises a public issue of 86.70 million new shares and an offer for sale of 17.35 million existing shares at RM0.25 each.
Of the proceeds, RM4 million will be used to establish a new headquarters in Sendayan, while RM2.07 million will fund a new Sarawak office. Another RM4.01 million has been allocated for machinery and equipment, RM7.90 million for working capital and RM3.70 million for listing expenses.
Pioneer Heat provides mechanical engineering services including piping system engineering, heat treatment, flange management and non-destructive testing. The group primarily serves the oil and gas, petrochemical, utility and manufacturing industries.
The company plans to use the IPO to expand its operational capacity and regional presence. Its new Sendayan headquarters will include administrative, warehouse and workshop facilities, while the planned Sarawak office is expected to support larger mechanical engineering projects and strengthen its presence in East Malaysia.
Applications for the IPO opened on August 12 and will close on September 3. Pioneer Heat is scheduled to list on the ACE Market on September 17, 2026.
Malacca Securities Sdn. Bhd. is the principal adviser, sponsor, underwriter and placement agent for the IPO.