21/08/2025

BIZ & FINANCE THURSDAY | AUG 21, 2025

14

Express Powerr aims to raise RM36m from IPO

StashAway Malaysia introduces syariah compliant investing KUALA LUMPUR: StashAway Malaysia, a digital wealth management platform, is targeting RM80 million in investments within the next 12 months through its newly launched syariah global portfolios designed to offer Malaysians globally diversified syariah-compliant investment solutions. Its country manager, Wai Ken Wong, said the company decided to venture into syariah-compliant investing and introduce it to the Malaysian market, given the significance of the segment. “As you can see, the syariah fund management industry accounts for about 20% to 25% of the overall market, valued at RM263 billion. Thus, we have to be part of this demand,” he said at a media briefing in conjunction with the product launch yesterday. Wai noted that syariah global portfolios are also being introduced in Singapore and the United Arab Emirates, in addition to Malaysia, saying that while the take-up rate is still small, it is growing quickly. He added that as a digital fund manager operating under the Securities Commission Malaysia’s digital investment manager licence, the regulator has been highly supportive of all its product offerings. Thus, he said the syariah global portfolios are intended to be mainstream rather than cutting edge, building on the firm’s existing multi-asset global portfolios to provide a yesterday - compliant alternative for investors. In a statement, the company said these syariah-compliant diversified portfolios have delivered back-tested returns of up to 14.4% annually over the past five years. “The portfolios have demonstrated strong five-year annualised historical returns ranging from 7.3% to 14%, positioning the company competitively against conventional investment options,” it said. StashAway’s syariah-compliant offerings have been screened and certified by Masryef Advisory, a syariah advisory firm registered with the Securities Commission. – Bernama PETALING JAYA: George Kent (Malaysia) Bhd’s revenue for the first quarter ended June 30, 2025 (Q1’26) rose 24.4% to RM37.65 million compared to RM30.27 million in the corresponding period last year. However, the group reported a loss before tax of RM9.78 million for Q1’26, mainly attributable to unrealised foreign exchange loss of RM6.86 million arising from foreign currency-deno minated financial assets. The group continues to focus on strengthening and optimising its operations to ensure sustainable growth. The metering division delivered a solid performance with revenue of RM32 million, an increase of 9.9% from RM29.11 million in the corresponding quarter last year. The growth was supported by resilient domestic demand and better contributions from international markets. The engineering division recorded revenue of RM5.65 million in Q1’26, a significant improvement from RM1.16 million a year earlier. Executive chairman Tan Sri Tan Kay Hock said: “Our Q1FY2026 performance reflects the successful execution of our strategic priorities amid ongoing global economic challenges. We remain focused on building long-term values through consistent performance, market diversification, and innovation. He said George Kent remains agile in navigating evolving market conditions, building on its strong business foundations, and seizing opportunities that support its long-term vision for sustained growth and technological leadership. George Kent Q1 impacted by unrealised forex loss

Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

o Company to have market capitalisation of RM186.9m upon listing, at issue price of 20 sen per share

KUALA LUMPUR: Express Powerr Solutions (M) Bhd, a standby power generator rental specialist, is set to debut on the ACE Market of Bursa Malaysia Securities on Sept 24, following the launch of its its initial public offering (IPO) prospectus yesterday. The group aims to raise RM36 million from the IPO, with funds earmarked to expand its generator fleet and strengthen its market presence across Malaysia. The IPO comprises a public issue of 180 million new shares, representing 19.3% of the enlarged share capital and an offer for sale of 65.4 million existing shares or 7%. At the issue price of 20 sen per share, Express Powerr will have a market capitalisation of RM186.9 million upon listing. Of the proceeds from the IPO, RM20.5 million will be allocated for the purchase of new standby generators, RM7.5 million for working capital, RM5 million for repayment of bank borrowings and RM3 million to cover listing expenses. Managing director Lim Cheng Ten said the listing marks a new chapter for the group, positioning it to meet rising demand for standby power solutions driven by rapid industrial and commercial development. He added their goal is to continuously invest in technology and expand their generator fleet so that they can support industries that require reliable and efficient standby power solutions. Lim told the media that Express Powerr has established itself as one of the leading providers of standby power generators in Malaysia, catering to sectors ranging from telecommunications and manufacturing to infrastructure and events. With clients that include major corporations, the group expects its services to remain in demand as the nation KUALA LUMPUR: PropertyGuru Malaysia has introduced the PropertyGuru Verified Badge for property agents on its platform, in partnership with the Board of Valuers, Appraisers, Estate Agents and Property Managers (LPPEH), to curb property scams in the local market. PropertyGuru Malaysia country manager Kenneth Soh said the initiative is tailored for Malaysia, where consumer awareness remains lower compared with its other markets. “This particular push is Malaysia-specific. The badge helps prevent scams by ensuring consumers can easily identify verified professionals with traceable details, giving them recourse if anything goes wrong,” he said at the official launch yesterday. He said Vietnam already has verified agents and listings, while Singapore’s smaller market benefits from stronger consumer awareness, making risks more manageable. In contrast, many Malaysians are still unclear on how to verify an agent’s licence. Soh said this gap has fuelled rental scams, Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

From left: Express Powerr executive director Rosli Jonid, Lim, non-executive chairman Datuk Mohd Redza Shah Abdul Wahid, Mercury Securities director Jamieson Chew and head of corporate finance Eric Chong at the launch of Express Powerr’s IPO prospectus.

platform to meet future demand,” he said. The group’s IPO exercise will also see 46.6 million new shares made available to the Malaysian public, 23.3 million shares to eligible directors, employees and individuals who have contributed to the success of the group, 46.6 million shares placed with selected investors and 63.5 million shares for Bumiputera investors approved by the Investment, Trade and Industry Ministry. Mercury Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.

continues its pace of development. For the financial year ended Sept 30, 2024, Express Powerr posted revenue of RM70.2 million and a net profit of RM16.6 million. In the six months ended March 31, 2025, the company recorded revenue of RM12.9 million with net profit of RM2.9 million. Lim noted that despite a softer performance in the latest financial period, the company remains confident of growth. “The funds from this IPO will enable us to expand our fleet size and strengthen our service capabilities. This will give us a strong

PropertyGuru Verified Badge – tailored for Malaysia – introduced to curb scams

to deceive unsuspecting buyers and tenants. “Public awareness and preventive measures are critical. PDRM welcomes collaborative initiatives such as Property Guru’s Verified Badge, which can help Malaysians make safer property decisions and reduce opportunities for market exploitation,” he said. The PropertyGuru Verified Badge is awarded to registered real estate nego tiators, real estate agents and probationary estate agents with active licences via LPPEH which completes PropertyGuru’s secure verification process. This process involves confirming agents’ identity through eKYC, validating their professional licence details, verifying their registered contact information and ack nowledging the Verified Badge terms. Once completed, the PropertyGuru Verified Badge will appear on the agent or negotiator’s profile, listings, and search results, making it easier for property seekers to engage with legitimate professionals. According to the LPPEH, unlicensed individuals defrauded more than 1,500 victims, resulting in nearly RM60 million in losses between 2019 and 2023.

one of the most common fraud tactics, where conmen pose as agents, show units booked on short-term rental platforms and disappear after collecting deposits. “Scammers are getting more and more creative. By starting from the discovery stage, we want consumers to look for verified agents on PropertyGuru. We have their identify card, licence tag and phone number, so if anything happens, there is recourse. Without verification, consumers are often left with no way to trace the scammer,” he added. Soh said over 100 had already been verified on the day of its soft launch (Monday), and numbers are expected to rise quickly. PropertyGuru currently has close to 10,000 agents in Malaysia. “Our target is to get as close to 100% as possible within the year, depending on submissions from our agent partners and the verification process through eKYC and licence checks,” he said. Kuala Lumpur Criminal Investigation Department head SAC Mohd Razali Mohd Idrus said property-related scams have become increasingly sophisticated, often involving impersonation of licensed agents