23/10/2025

BIZ & FINANCE THURSDAY | OCT 23, 2025

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Malaysian Paper

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Alliance Islamic Bank is underwriter for BMS’s IPO

KUALA LUMPUR: BMS Holdings Bhd, a deep-rooted Malaysian retailer and distributor specialising in tiles, stone surfaces, bathware and kitchenware, yesterday entered into an underwriting agreement with Alliance Islamic Bank Bhd (AIS) in preparation for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities. Since its establishment in 1993, BMS Holdings, through its subsidiaries, has built a reputation in offering an extensive portfolio of products that cater to diverse customer preferences. The well-established range of own brands includes BMS Porcelain, Marmo Grande, Rubino, Batu Gergasi, Moderica Surfaces and Brelife Coverings for its tiles and stone surfaces as well as eurano and U+BMS brands for its bathware and kitchenware. The IPO will comprise a public issue of 364.00 million new ordinary shares (Issue Shares) and an offer for sale of 156.00 million existing shares (Offer Shares), collectively representing approximately 33.77% of BMS Holdings’ enlarged number of issued shares of 1,540.00 million upon listing. The allocation 77.00 million Issue Shares or 5.00% of the enlarged number of issued shares will be made available for application by the Malaysian public; 61.60 million Issue Shares or 4.00% of the enlarged number of issued shares will be allocated to eligible directors, employees, and persons who have contributed to the success of the group; 188.90 million Issue Shares or 12.27% of the enlarged number of issued shares will be made available by way of private placement to selected investors; 36.50 million Issue Shares or 2.37% of the enlarged number of issued shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry of Malaysia (Miti) and156 million Offer Shares or 10.13% of the enlarged number of issued shares will be offered by way of private placement to Bumiputera investors approved by the Miti. As part of the underwriting arrangement,

138.60 million Issue Shares out of the enlarged number of issued shares of 1,540 million will be underwritten by AIS, ensuring that this portion of the IPO will be fully taken up and providing additional confidence in the success of the public offering. BMS Holdings managing director Ang Kwee Peng said: “This underwriting agreement marks a key step towards our listing journey. With Alliance Islamic Bank’s support, we are confident of executing a successful IPO that will enable us to scale our operations and facilities, strengthen our nationwide retail network, and further diversify our product offerings to meet evolving customer needs.” “The proceeds from the IPO will be channelled towards expanding our retail showroom footprint, establishing a new regional distribution centre, upgrading our existing operational facilities and ICT/ digital technology, as well as marketing activities and working capital requirements. “These investments are integral to reinforcing our leadership position and driving sustainable long-term growth.” o Listing proceeds to be used to expand tile, stone and sanitary ware specialist’s retail footprint

(From left) BMS Holdings executive director Lee Kok Chuan, Ang, Alliance Islamic Bank CEO Rizal IL-Ehzan Fadil Azim and group chief corporate & institutional banking officer Teoh Chu Lin.

exclusive discounts, redeemable rewards and technical support. This broad customer reach reflects BMS Holdings’ ability to cater to diverse market segments and sustain recurring demand across its retail, wholesale and project sales segments. Alliance Islamic Bank is the principal adviser, sponsor, sole underwriter and placement agent for BMS Holdings’s IPO.

BMS Holdings’ growth is underpinned by a large and active customer base of approximately 49,700 customers as at FY2024. This includes around 40,700 end-users, 8,500 tradespeople and professionals, 200 building contractors and property developers, as well as 300 resellers nationwide. The group also engages its customers through an established loyalty programme with over 31,500 active members, offering

Verdant Solar’s shares rise 19% on trading debut KUALA LUMPUR: Verdant Solar Holdings Bhd, premiered on the ACE Market of Bursa Malaysia Securities Bhd yesterday, starting at RM0.37 per share on its trading debut, representing a RM0.06 or 19.35% increase over its Initial Public Offering (IPO) price of RM0.31 per share. At the opening bell, a total of 14,409,300 shares were traded. demand for solar PV systems and EPCC services is set to grow, creating greater opportunities for the company. “Backed by strong fundamentals, growth potential in the residential property market, and government-initiated solar programmes such as the upcoming ATAP programme, we are confident that today’s listing marks the beginning of a bright future for Verdant. price of RM0.31 per share, the company’s total market capitalisation is approximately RM253.46 million.

Maxis and Globe Teleservices to offer AI-powered firewall

With the total gross proceeds raised from the IPO, Verdant will utilise 31.80% to finance the establishment of branch offices in Kuantan, Malacca, and Ipoh 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 remaining proceeds will be utilised for general working capital and listing-related expenses. Mercury Securities Sdn Bhd is the IPO’s principal adviser, sponsor, underwriter and sole placement agent.

PETALING JAYA: Maxis has partnered with global telecom solutions provider Globe Teleservices Pte Ltd (GTS) to deploy an integrated AI-powered firewall for messaging and voice traffic across the Maxis network in Malaysia. This fully managed, end-to-end service is designed to enhance network security and quality for millions of Maxis subscribers while improving the integrity of international messaging traffic delivered into the country. Under this initiative, Maxis and GTS will define and enforce firewall policies for international messaging and voice traffic terminating on the Maxis network. Powered by advanced AI and machine learning (ML) that leverages aggregated global traffic, GTS’s Armour firewall provides rapid fraud mitigation with 24/7 monitoring and continual testing. It is designed to block spam and international message bypass attempts coming from unofficial channels (grey routes) and large-scale fraudulent operations like SIM farms. The result is stronger network protection and uninterrupted communication for Maxis users. Maxis chief enterprise business officer Prateek Pashine said this partnership with GTS reinforces their international message and voice defences, deploying AI-powered controls and continuous monitoring to ensure that essential messages reach subscribers quickly and securely. Globe Teleservices Group CEO Ashutosh Agrawal said their AIenabled Armour firewall combines intelligent threat detection with global delivery expertise to protect networks, enhancing customer experience and value that is often lost to fraud and bypass.

Managing director, Lim Tzer Haur said: “Today marks a major milestone as we debut on the ACE Market of Bursa Malaysia Securities Bhd. This listing represents a significant step forward for Verdant as one of Malaysia’s top residential solar EPCC contractors. “With the country intensifying its efforts to diversify electricity generation through renewable and sustainable sources, the

“We are excited by the encouraging response to our IPO, which was oversubscribed by almost 40 times. “With this support, we have raised RM44.02 million to help the company strengthen our market presence and further expand our business.” Based on Verdant’s enlarged issued share capital of 817,618,243 shares and the IPO

Management staff of Verdant and Mercury Securities at the Listing Gallery of Bursa Malaysia yesterday.