Corporate Updates - Bursa Malaysia - Insights

Date	Company	Event Details	Sector	Event Summary
19 Jun, 2026	George Kent (Malaysia) Bhd	George Kent (Malaysia) Berhad entered into a share purchase agreement on 19 June 2026 to acquire a 76% equity interest in Techkem Group Sdn Bhd for RM2.0 million from Datuk Ng Kam Meng and Datin Wong Chang Hoa. The acquisition includes Techkem’s three wholly owned subsidiaries involved in EPCC, O&M, DBOT projects and specialty chemical distribution for water and wastewater industries, with completion targeted by Q3 2026 subject to conditions precedent.	CONSTRUCTION	Merger & Acquisition
19 Jun, 2026	Eastern & Oriental Bhd	Eastern & Oriental Berhad’s subsidiary, KCB Holdings Sdn Bhd, has entered into a conditional joint venture with Cengild Medical Berhad and Skyspring Sdn Bhd to develop and operate a RM350 million multidisciplinary tertiary private hospital on Andaman Island, Penang. The joint venture will be owned 30% by KCB, 25% by Cengild Medical and 45% by Skyspring, with the project planned in two phases and a capacity of 240 beds, targeted for completion by the fourth quarter of 2029. KCB will contribute RM105 million and oversee land acquisition and construction, while funding will be sourced through equity contributions and bank borrowings.	PROPERTY	Business Venture
19 Jun, 2026	Bank Rakyat	Bank Kerjasama Rakyat Malaysia Berhad has issued RM300 million of Tier-2 subordinated Sukuk Murabahah through special purpose vehicle Mumtaz Rakyat Sukuk Bhd under its RM5 billion Sukuk Murabahah programme, which is rated AA3 by RAM Rating Services. The 10-year tranche qualifies as Tier-2 capital under Bank Negara Malaysia’s capital adequacy framework for Islamic banks, with proceeds earmarked for shariah-compliant purposes including working capital, capital expenditure, investments, financing activities and general corporate purposes. Maybank Investment Bank Berhad and AmInvestment Bank Berhad acted as joint lead managers for the issuance.	BANKING	Fund Raising
19 Jun, 2026	Aizo Group Bhd	Aizo Group Berhad’s wholly owned subsidiary, Wawasan Demi Sdn Bhd, has secured Islamic financing facilities of up to RM346.19 million from Bank Pembangunan Malaysia Berhad to support the development of a large-scale solar photovoltaic plant in Kampar, Perak. The facilities comprise a RM256.0 million Tawarruq asset financing facility to fund up to 80% of the project’s engineering, procurement, construction and commissioning costs, as well as RM90.19 million in bank guarantee facilities to support obligations under the power purchase agreement with Tenaga Nasional Berhad. The project is expected to generate recurring income upon completion through long-term power generation arrangements.	BUILDING MATERIALS	Fund Raising
19 Jun, 2026	Ocean Vantage Holdings Bhd	Ocean Vantage Holdings Berhad has proposed to acquire 100% of Bina Gemilang Bersatu Sdn Bhd, a Sarawak-based Grade G7 construction contractor, for RM10 million through the issuance of up to 50 million new shares at 20 sen each. The related-party acquisition involves Ocean Vantage managing director Kenny Ronald Ngalin, who owns 50% of BGB, with the consideration payable in two tranches, including an earn-out mechanism tied to BGB achieving at least RM2 million profit after tax for the financial year ending 31 December 2026. The acquisition is intended to diversify Ocean Vantage’s earnings base beyond its declining oil and gas support services business, with BGB currently holding an outstanding order book of RM63.97 million and ongoing projects worth RM71.35 million.	ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES	Merger & Acquisition
19 Jun, 2026	iCents Group Holdings Bhd	iCents Group Holdings Berhad’s wholly-owned subsidiary, VC Engineering Sdn Bhd, entered into a supplier agreement with an Indonesia-based construction company on 19 June 2026 to supply and deliver data centre products in Indonesia. The contract is valued at IDR30,269,546,707.45 (approximately RM6.95 million) and runs from 17 June 2026 until project completion.	INDUSTRIAL SERVICES	Contract Awarded
19 Jun, 2026	AEON Co (M) Bhd	AEON Co. (M) Bhd. has completed its third issuance of RM250.0 million in Islamic Medium-Term Notes with a five-year tenure under its Sukuk Wakalah Programmes on 19 June 2026. The proceeds will be used for refinancing existing conventional borrowings, corporate bonds and Islamic financing facilities, as well as funding working capital, capital expenditure, investments, general corporate purposes and issuance-related expenses.	RETAILERS	Fund Raising
19 Jun, 2026	Vestland Bhd	Vestland Bhd’s wholly owned subsidiary, Vestland Infra Sdn Bhd, secured a RM65 million contract from Scanwolf Trading & Construction Sdn Bhd to undertake piling and substructure works for a 74-storey serviced apartment project at Jalan Pavilion, Kuala Lumpur. The two-year contract covers foundation, basement, car park, shop lots and related works, and is expected to contribute positively to earnings and net assets over the project duration.	CONSTRUCTION	Contract Awarded
19 Jun, 2026	TWL Holdings Bhd	TWL Holdings Bhd, through its wholly owned subsidiary TWL Builders Sdn Bhd, acquired a 45% equity stake in Fairise Odyssey (M) Sdn Bhd from Lam Boon Ling for RM42 million. The acquisition, funded entirely via internally generated funds, involves a Malaysia-based property investment company and is not expected to materially impact earnings or net assets for the financial year ending 30 June 2026.	AGRICULTURAL PRODUCTS	Merger & Acquisition
18 Jun, 2026	KHPT Holdings Bhd	KHPT Holdings Bhd, through its wholly owned subsidiary Automev Global Sdn Bhd, expects to generate RM155 million in revenue from a contract awarded by Perusahaan Otomobil Nasional Sdn Bhd to supply structural components for an upcoming Proton model. The agreement, dependent on the model’s production lifecycle, will be fulfilled at KHPT’s Telok Panglima Garang facility in Selangor.	AUTO PARTS	Contract Awarded

19 Jun, 2026

George Kent (Malaysia) Bhd

George Kent (Malaysia) Berhad entered into a share purchase agreement on 19 June 2026 to acquire a 76% equity interest in Techkem Group Sdn Bhd for RM2.0 million from Datuk Ng Kam Meng and Datin Wong Chang Hoa. The acquisition includes Techkem’s three wholly owned subsidiaries involved in EPCC, O&M, DBOT projects and specialty chemical distribution for water and wastewater industries, with completion targeted by Q3 2026 subject to conditions precedent.

CONSTRUCTION

Merger & Acquisition

19 Jun, 2026

Eastern & Oriental Bhd

Eastern & Oriental Berhad’s subsidiary, KCB Holdings Sdn Bhd, has entered into a conditional joint venture with Cengild Medical Berhad and Skyspring Sdn Bhd to develop and operate a RM350 million multidisciplinary tertiary private hospital on Andaman Island, Penang. The joint venture will be owned 30% by KCB, 25% by Cengild Medical and 45% by Skyspring, with the project planned in two phases and a capacity of 240 beds, targeted for completion by the fourth quarter of 2029. KCB will contribute RM105 million and oversee land acquisition and construction, while funding will be sourced through equity contributions and bank borrowings.

PROPERTY

Business Venture

19 Jun, 2026

Bank Rakyat

Bank Kerjasama Rakyat Malaysia Berhad has issued RM300 million of Tier-2 subordinated Sukuk Murabahah through special purpose vehicle Mumtaz Rakyat Sukuk Bhd under its RM5 billion Sukuk Murabahah programme, which is rated AA3 by RAM Rating Services. The 10-year tranche qualifies as Tier-2 capital under Bank Negara Malaysia’s capital adequacy framework for Islamic banks, with proceeds earmarked for shariah-compliant purposes including working capital, capital expenditure, investments, financing activities and general corporate purposes. Maybank Investment Bank Berhad and AmInvestment Bank Berhad acted as joint lead managers for the issuance.

BANKING

Fund Raising

19 Jun, 2026

Aizo Group Bhd

Aizo Group Berhad’s wholly owned subsidiary, Wawasan Demi Sdn Bhd, has secured Islamic financing facilities of up to RM346.19 million from Bank Pembangunan Malaysia Berhad to support the development of a large-scale solar photovoltaic plant in Kampar, Perak. The facilities comprise a RM256.0 million Tawarruq asset financing facility to fund up to 80% of the project’s engineering, procurement, construction and commissioning costs, as well as RM90.19 million in bank guarantee facilities to support obligations under the power purchase agreement with Tenaga Nasional Berhad. The project is expected to generate recurring income upon completion through long-term power generation arrangements.

BUILDING MATERIALS

Fund Raising

19 Jun, 2026

Ocean Vantage Holdings Bhd

Ocean Vantage Holdings Berhad has proposed to acquire 100% of Bina Gemilang Bersatu Sdn Bhd, a Sarawak-based Grade G7 construction contractor, for RM10 million through the issuance of up to 50 million new shares at 20 sen each. The related-party acquisition involves Ocean Vantage managing director Kenny Ronald Ngalin, who owns 50% of BGB, with the consideration payable in two tranches, including an earn-out mechanism tied to BGB achieving at least RM2 million profit after tax for the financial year ending 31 December 2026. The acquisition is intended to diversify Ocean Vantage’s earnings base beyond its declining oil and gas support services business, with BGB currently holding an outstanding order book of RM63.97 million and ongoing projects worth RM71.35 million.

ENERGY INFRASTRUCTURE, EQUIPMENT & SERVICES

Merger & Acquisition

19 Jun, 2026

iCents Group Holdings Bhd

iCents Group Holdings Berhad’s wholly-owned subsidiary, VC Engineering Sdn Bhd, entered into a supplier agreement with an Indonesia-based construction company on 19 June 2026 to supply and deliver data centre products in Indonesia. The contract is valued at IDR30,269,546,707.45 (approximately RM6.95 million) and runs from 17 June 2026 until project completion.

INDUSTRIAL SERVICES

Contract Awarded

19 Jun, 2026

AEON Co (M) Bhd

AEON Co. (M) Bhd. has completed its third issuance of RM250.0 million in Islamic Medium-Term Notes with a five-year tenure under its Sukuk Wakalah Programmes on 19 June 2026. The proceeds will be used for refinancing existing conventional borrowings, corporate bonds and Islamic financing facilities, as well as funding working capital, capital expenditure, investments, general corporate purposes and issuance-related expenses.

RETAILERS

Fund Raising

19 Jun, 2026

Vestland Bhd

Vestland Bhd’s wholly owned subsidiary, Vestland Infra Sdn Bhd, secured a RM65 million contract from Scanwolf Trading & Construction Sdn Bhd to undertake piling and substructure works for a 74-storey serviced apartment project at Jalan Pavilion, Kuala Lumpur. The two-year contract covers foundation, basement, car park, shop lots and related works, and is expected to contribute positively to earnings and net assets over the project duration.

CONSTRUCTION

Contract Awarded

19 Jun, 2026

TWL Holdings Bhd

TWL Holdings Bhd, through its wholly owned subsidiary TWL Builders Sdn Bhd, acquired a 45% equity stake in Fairise Odyssey (M) Sdn Bhd from Lam Boon Ling for RM42 million. The acquisition, funded entirely via internally generated funds, involves a Malaysia-based property investment company and is not expected to materially impact earnings or net assets for the financial year ending 30 June 2026.

AGRICULTURAL PRODUCTS

Merger & Acquisition

18 Jun, 2026

KHPT Holdings Bhd

KHPT Holdings Bhd, through its wholly owned subsidiary Automev Global Sdn Bhd, expects to generate RM155 million in revenue from a contract awarded by Perusahaan Otomobil Nasional Sdn Bhd to supply structural components for an upcoming Proton model. The agreement, dependent on the model’s production lifecycle, will be fulfilled at KHPT’s Telok Panglima Garang facility in Selangor.

AUTO PARTS

Contract Awarded