30/09/2025

BIZ & FINANCE TUESDAY | SEPT 30, 2025

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THMY launches prospectus, expects to raise RM44.6m

PETALING JAYA: Bursa Malaysia Securities-listed Haily Group Bhd, a construction group in Johor, an nounced that its wholly owned subsidiary, Haily Construction Sdn Bhd, has secured contracts with a combined value of RM197.55 million from Connoisseur Properties Sdn Bhd. The awards cover the main building works for a major mixed development project in Johor Bahru, comprising a 45-storey service apart ment block with 748 units, supported by a one-storey service plant at sub basement level, podium car parks, public facilities at Level 10, and associated facilities; and five shop units at Level 1, two shop units at Level 10, and a one-storey car park at Level 2 within the same development pre cinct. The works are scheduled to commence tomorrow with a com pletion timeline of 40 months, targeted for Jan 31, 2029. With this RM197.55 million award, Haily’s cumulative secured contracts now stand at approximately RM 265.22 million for the current year, while its cumulative value has expanded to RM 1.20 billion across 26 ongoing projects. The project, strategically located in central Johor Bahru, reinforces Haily’s position in a state experiencing rapid development. Johor’s construction sector continues to be supported by catalytic projects such as the Johor Singapore Special Economic Zone (JS SEZ) and the Johor Bahru–Singapore Rapid Transit System (RTS), both expected to spur demand for residential and mixed-use developments. The contracts are expected to contribute positively to Haily’s financial performance for the financial years ending 2025 through 2029. Johor-based Haily Group wins contracts worth RM197.55m Average rate hike of 5.9% from Jan 1: DHL Express PETALING JAYA: DHL Express, an international express services pro vider, yesterday announced a 5.9% average increase in price adjustments in Malaysia, effective Jan 1, 2026. “We remain committed to helping our customers navigate the com plexities of the current global trade landscape, which has been signi ficantly impacted by recent geo political shifts,” said DHL Express Malaysia and Brunei managing director Julian Neo. He added that with this annual price adjustment, they can continue to enhance their network’s resilience and adaptability, ensuring consistent support for their customers’ busi nesses irrespective of external factors. DHL Express adjusts prices annually, taking into consideration inflation and currency dynamics, as well as administrative costs related to regulatory and security measures. National and international authorities regularly update these measures in approximately 220 countries and territories that DHL Express serves. Depending on local conditions, price adjustments will vary by country.

related expenses. Managing director Lim Tzer Haur said they plan to strengthen their market presence through new branch offices in Malacca, Kuantan and Ipoh, expand through strategic investments as well as mergers and acquisitions, and enhance their digital infrastructure, including their Enterprise Resource Planning and Customer Relationship Management systems as well as the Verdant Home App. Applications for Verdant Solar’s IPO will close on Oct 7 at 5pm. Mercury Securities Sdn Bhd is the IPO’s principal adviser, sponsor, sole underwriter and sole placement agent. FY2025). This milestone reflects the dedication of our entire team and our shared vision to empower our customers with testing excellence.” “With the RM44.6 million raised through this IPO, THMY is stra tegically positioned to fuel our next phase of growth whilst aligning with the 13th Malaysia Plan target of RM1 trillion E&E product exports by 2030. The proceeds will drive the establishment of a new factory, acquisition of new machinery and equipment, and enhanced D&D and R&D capa bility. This in turn will strengthen our foundation to deliver on our promise of being ‘Your Worldwide Partner for All Your Testing Excellence’. As we stand at the forefront of the rapidly evolving E&E industry, powered by mega trends like AI, datacentres, 5G, and semiconductors, we are com mitted to contributing to Malaysia’s economic aspirations while con tinuing to innovate for the next 17 years and beyond.” Application for the public issue will close at 5pm on Oct 9. Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO. critical. Whether it’s targeted grants and subsidies for artificial intelligence and cloud adoption, public-private partnerships to deliver skills training, or practical cybersecurity guidance designed for different business sizes – support must meet SMEs where they are. With SMEs representing 97% of Malaysia’s businesses, their potential to power long-term national growth is extraordinary. Budget 2026 is a chance to build confidence in digital adoption, equip SMEs with the tools to innovate, and ensure they remain the heartbeat of Malaysia’s economy for generations to come.

equipment manufacturer (OEM), being multinational corporations (MNC) across the America, Europe and Asia-Pacific continents. THMY has recorded strong financial performance over the years, from FY2022 to FY2025, the group’s compound annual growth rate for profit after tax was 96.6%, from RM1.3 million to RM10 million. Executive director/CEO Ooi Can Nix said, “Today’s IPO prospectus launch is a defining moment for THMY Holdings, marking the culmination of 17 years of hard work, innovation, and an un wavering commitment to excellence

o Bulk of IPO proceeds will be used to build factory, reduce bank borrowings and purchase equipment and machinery

PETALING JAYA: Verdant Solar Holdings Bhd yesterday launched its initial public offering (IPO) pros pectus for its propoed listing on the ACE Market of Bursa Malaysia Securities on Oct 22. Verdant Solar, which provides engineering, procurement, con struction and commissioning and operations and maintenance ser vices for solar photovoltaic systems in Malaysia, aims to raise an estimated RM44.02 million through the issuance of 142 million new ordinary shares at an IPO price of 31 sen per share. Based on the enlarged issued share capital of 817,618,243 shares The group intends to allocate 58.1% of the proceeds towards the construction of a new factory while 11.7% will be used to pare down its bank borrowings. Additionally, 8.3% will be earmarked for the acqui sition of new machinery and equipment, 6.9% will be for working capital requirements while 4.3% will be used for design and development (D&D) as well as research and PETALING JAYA: THMY Holdings Bhd, a provider of automated test solutions for electrical and electronics (E&E) products, has unveiled the prospectus for its initial public offering (IPO) in conjunction with its listing on the ACE Market of Bursa Malaysia Securities, sche duled for Oct 23. Arising from the IPO exercise, THMY is expected to raise about RM44.6 million through the public issue of 143.9 million new ordinary shares at an issue price of 31 sen per share.

development (R&D) expenditure. The balance will be for listing related expenses. THMY started in 2008, securing its first local sale in Malaysia from an electronic manufacturing service (EMS) company. Over the past 17 years, the group has evolved in the automated test solutions industry.

The automated test solutions (in circuit test and functional circuit test) that the group offers comprise design, development (software), fabrication (hardware), assembly and installation of test fixtures and/or tester platforms. Its customers are primarily EMS and original

as we prepare to list on the ACE Market of Bursa Securities. From our humble beginning in a small office in Perai, Penang, we have grown into a trusted global partner of automated test solutions, evidenced by the number of MNCs that we have served (40 MNC customers in

Verdant Solar to issue 142m new shares at 31 sen each

and the IPO price, Verdant Solar’s market capitalisation will be about RM253.46 million. Proceeds from the IPO will be channelled towards supporting Verdant Solar’s business expansion. Of the total, 31.8% has been earmarked to finance the esta blishment of branch offices to better serve its customers; 22.72% will be allocated for expansion through strategic investments, mergers and acquisition opportunities; and 8.63% will be utilised to enhance the Company’s digital infrastructure to strengthen operational excellence. The balance will be applied towards general working capital and listing THE 13th Malaysia Plan, which was announced on July 31, lays out an ambitious but inspiring goal – for SMEs to raise their contribution from 39.5% of Malaysia’s gross domestic product in 2024 to half by 2030. Reaching this milestone will take more than vision – it requires the right policies, incentives and support structures that empower small businesses to thrive. With Budget 2026 on the horizon, there is a real opportunity to accelerate this journey by helping SMEs strengthen their digital capabilities and grow sustainably. At Xero, we see firsthand the impact that digital and cloud-based tools can have – making businesses more

More than a vision needed to raise M’sian SMEs’ GDP contribution to 50% by 2030

efficient, productive, and innovative. Yet while many SMEs are eager to reap these benefits, too many still find digitalisation challenging. Earlier this year, our research into e-invoicing readiness among Malaysian SMEs revealed a familiar pattern of obstacles: gaps in understanding, limited resources, lack of technical expertise, and concerns about data security. These challenges are not unique to e invoicing – they reflect the broader hurdles many businesses encounter on their digital transformation path. It’s also clear that SMEs aren’t a one size-fits-all group. Larger SMEs often wrestle with scale and complexity, while smaller businesses worry about affordability and technical know-how. That’s why tailored solutions are so

This article is contributed by Xero Asia managing director Koren Wines (pic).