13/09/2025

BIZ & FINANCE SATURDAY | SEPT 13, 2025

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Malaysian Paper

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Scientex requests Scipack to undertake capital reduction o Entitled shareholders to receive cash repayment of RM1.50 for each share

cyber defences, and industry partnerships, Malaysia can grow its digital economy with confidence. “Let us continue to work hand-in-hand, government, industry and regulators, to protect Malaysians, strengthen resilience, and ensure our digital economy grows on a foundation of trust and security,” he said. The collaboration is aligned with Malaysia’s National Digital Economy Blueprint and reflects ongoing efforts to encourage secure and inclusive digital financial services through stronger identity verification practices. JS Solar IPO oversubscribed 48.32 times KUALA LUMPUR: JS Solar Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 48.32 times ahead of its listing on the ACE Market of Bursa Malaysia, scheduled for Sept 23. In a statement yesterday, the solar photovoltaic company said that upon listing, it will have a market capitalisation of RM100.75 million, based on an enlarged issued share capital of 325 million shares and an IPO price of 31 sen per share. “The IPO exercise entails a public issue of 78 million new ordinary shares, representing 24% of its enlarged issued share capital after the IPO, with RM24.18 million expected to be raised. “In addition, there is an offer for sale of 19.5 million existing shares, representing 6% of the enlarged issued share capital, by way of private placement to selected investors,” it said. Of the 78 million issue shares, it said that 16.25 million were allocated to the Malaysian public, from which the company received 8,567 applications for 801.52 million issue shares valued at approximately RM248.47 million, representing an oversubscription rate of 48.32 times. “The 19.50 million issue shares made available for application by eligible directors and employees, as well as persons who have contributed to the group’s success, were fully subscribed. “The private placement of 42.25 million issue shares and 19.5 million offer shares to selected investors was also fully placed out,” it said. JS Solar managing director Johnson Chai Jeun Sian said that the proceeds will be used to strengthen its presence in Peninsular Malaysia and Sabah, while driving the integration of battery energy storage systems into its solutions. “The industry outlook is optimistic, supported by the government’s commitment to a sustainable economy through a strategic plan and favourable policies such as the National Energy Transition Roadmap,” he added. TA Securities Holdings Bhd serves as the principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser for the IPO. – Bernama

interest in SciPack (excluding treasury shares) upon completion of the proposed SCR, and in turn, SciPack will become a wholly owned subsidiary of the non-entitled shareholder,” it said. Scientex confirmed that the proposed SCR will not fail by reason of insufficient financial capital capability of SciPack and every entitled shareholder will be paid in full by way of cash. Scientex noted that the rationale for the proposed SCR includes the greater flexibility in managing SciPack Group’s business, low trading liquidity of SciPack shares and opportunity for the entitled shareholders to realise their holdings at a premium to the market price of SciPack shares. – Bernama

repayment sum of RM147.82 million. For avoidance of doubt, the non-entitled shareholder will not be entitled to the capital repayment pursuant to the proposed selective capital reduction. It noted that the issued share capital of SciPack will be reduced by way of cancellation of the existing SciPack shares held by the entitled shareholders of 98.55 million SciPack shares. “Accordingly, the issued share capital of SciPack will be reduced by RM147,82 million. The 550,100 treasury shares held by SciPack will be cancelled after the completion of the proposed SCR. “Accordingly, the non-entitled shareholder will own 100% equity

KUALA LUMPUR: Scientex Bhd, the major shareholder of Scientex Packaging (Ayer Keroh) Bhd (SciPack), has served a letter of offer requesting SciPack to undertake a selective capital reduction (SCR) and repayment exercise amounting to RM147.82 million. The company said in a filing with Bursa Malaysia that as at Sept 11, 2025, the latest practicable date (LPD) prior to the date of the letter, SciPack has an issued share capital of RM222.36 million. “This comprises 350.62 million

ordinary shares, of which Scientex holds 252.07 million SciPack shares, representing about 71.89 per cent of the issued shares of SciPack. “As at the LPD, the entitled shareholders collectively hold 99.55 million SciPack shares, representing 28.11% of the total issue shares of SciPack,” it said. It added that pursuant to the proposed SCR, the entitled shareholders will receive a cash repayment of RM1.50 for each SciPack share (SCR offer price), equivalent to a total cash

(From left): CTOS Data Systems chief business officer Tan Li Chin, Loh, Megat Zuhairy, Nik Hisham and MyDigital ID deputy CEO Rita Irina Abd Wahab. CTOS Digital signs MoU with MyDigital ID to strengthen eKYC solutions

KUALA LUMPUR: CTOS Digital Bhd, Malaysia’s leading credit reporting group, has signed a memorandum of understanding (MoU) with MyDigital ID, the government-backed national digital identity platform. The MoU establishes a framework for exploring the use of national digital identity in strengthening electronic Know Your Customer (eKYC) processes. With this agreement, CTOS Digital becomes the first credit reporting agency (CRA) in Malaysia to formalise a collaboration with MyDigital ID. Through this collaboration, CTOS Digital and its subsidiaries, including

“This collaboration will deliver safer transactions, better protection for consumers, and stronger progress towards an inclusive digital economy,” he said. National Cyber Security Agency chief executive Ir Dr Megat Zuhairy Megat Tajuddin said no single agency or organisation can tackle cyber threats alone. “This collaboration between CTOS Digital and MyDigital ID is meaningful and vital. “As we advance towards becoming a digital nation, inclusivity and safety must remain at the centre. “With trusted identities, stronger

with MyDigital ID, we are creating a foundation for future solutions that can enhance security and efficiency, while supporting Malaysia’s move towards a more trusted digital economy,“ he said. My Digital ID Sdn Bhd CEO Nik Hisham Nik Ibrahim stated that MyDigital ID was established as the foundation for secure and trusted digital interactions in Malaysia. “By partnering with CTOS Digital, one of the country’s most established players in financial services, we demonstrate how government and industry can work side by side to strengthen digital trust.

CTOS Data Systems (CDS), will assess how MyDigital ID can be incorporated into existing verification processes. The aim is to establish a foundation for more secure, efficient, and less-frictional eKYC solutions, supporting efforts to reduce fraud risk, enhance compliance, and promote wider digital adoption. CTOS Digital interim group CEO Kevin Loh said this MoU with MyDigital ID marks an important step for CTOS Digital as the company continue to strengthen its eKYC offerings. “As the first CRA to collaborate