22/01/2026

BIZ & FINANCE THURSDAY | JAN 22, 2026

14

MMC Ports targets consolidation, modernisation

Court approves Capital A capital reduction KUALA LUMPUR: Capital A Bhd has received the High Court of Malaya’s approval on capital reduction of RM5,507,594,000 yesterday, marking the completion of all major steps required under Capital A’s regularisation plan. The regularisation plan will be completed upon lodgement of the High Court sealed order with the Registrar of Companies by next week. Yesterday’s High Court approval follows recent end-phase milestones, including the completion of the aviation business disposal (AirAsia Bhd and AirAsia Aviation Group Ltd) to AirAsia X Bhd (AAX) on Jan 16, 2026 and the listing and distribution of AAX shares to entitled Capital A shareholders on Jan 19, 2026. The remaining non-aviation businesses under Capital A have been consistently profitable for the past four quarters (Q4 2024 to Q3 2025). Upon completion of the regularisation plan, Capital A’s shareholders’ funds will turn positive. With the above, Capital A would have addressed all the PN17 criteria, while the uplift remains subject to regulatory approval. Capital A Group chief financial officer Teh Mun Hui said: “This order is the final court step in our PN17 journey. We set out to fix the fundamentals and we followed through on every step – completing the aviation business disposal, distributing AAX shares to our shareholders, and securing the approvals needed to clean up the balance sheet. “We are now working towards the upliftment of PN17 status.” Post-regularisation, Capital A will operate as a group focused around five businesses: Asia Digital Engineering (MRO), Teleport (logistics), AirAsia MOVE (travel platform), AirAsia Next (brand & IP) and Santan (F&B). Binastra secures another building works contract KUALA LUMPUR: Binastra Corporation Bhd continued to build on its strong momentum in Johor Bahru, securing another major contract for the main building works of The Address @ Taman Pelangi, a landmark high-rise development in the city. This RM742.9 million contract was awarded to Binastra’s wholly-owned subsidiary, Binastra Builders Sdn Bhd, by Maxim Pelangi Sdn Bhd. It involves the construction of a 72-storey serviced apartment comprising 3 residential towers with a total of 2,743 units. The project will feature multi-level podiums with parking facilities, retail components, and lifestyle amenities designed to meet the needs of modern urban living. Construction is scheduled to commence on March 5 with completion targeted within 38 months. Managing director Datuk Jackson Tan Kak Seng commented: “We are thrilled to secure another significant project win as we approach the close of FY2026. “Being entrusted with nearly RM2 billion worth of projects in Johor Bahru within 2 weeks reflects the synergistic, long standing relationships we have built with our clients and reinforces our position as a trusted builder even in Johor Bahru. This represents a strong vote of confidence in our execution capabilities, quality and proven track record.”

6.7% year-on-year (y-o-y). SIPG, which exclusively operates all public terminals at the Port of Shanghai, is the largest port operator in mainland China and among the world’s largest listed port operators. Shanghai’s Yangshan Deep Water Port led the record performance, handling 26.25 million TEUs in the first 11 months, up 9.7% y-o-y, with full-year volumes expected to exceed 29 million, driven by technology-led industrial upgrading and automation that enhanced efficiency and capacity. The scale of SIPG’s operations highlights the advanced environment that MMC Ports is creating to align with global best practices in port management. Elaborating on the synergies of ports under the MMC umbrella, he said, initiatives such as the group level dashboard and digital twin are intended to provide holistic, real time visibility across the entire portfolio. “Ultimately, these tools enable the management team to make faster, informed decisions based on a unified and comprehensive operational view. “The use of artificial intelligence in operations, particularly yard planning and equipment deployment, is the game-changer we are working towards,” said Azman Shah. He emphasised that as MMC

Ports expands its operations, standardising performance metrics is critical to ensuring reliable, world class service standards across every touchpoint in the network. “This commitment to transparency and operational discipline positions MMC Ports not only to navigate market complexities but also to deliver sustained long-term value to our shareholders and partners,” said Azman Shah, reflecting increasing expectations from global stakeholders in the infrastructure sector. In 2025, MMC Ports’ network achieved its strongest performance to date by surpassing 20 million TEUs in container throughput. The milestone was driven by Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), which exceeded the 13 million and 14 million TEUs mark, becoming the first single Malaysian port to do so. This was followed by Northport (Malaysia) Bhd, which posted its highest annual container throughput of 3.80 million TEUs and its highest conventional cargo throughput at 12.90 million freight weight tonnes. Beyond the two main container hubs, Johor Port Bhd recorded its highest annual container volume of 1.08 million TEUs, while Penang Port Sdn Bhd saw ferry passenger ridership rise to 3.13 million in 2025, up from 2.87 million in 2024.

o Port operator outline initiatives under five-year Digital Blueprint Roadmap

KUALA LUMPUR: MMC Ports Holdings Bhd, Malaysia’s largest port operator and manager of key transshipment hubs, will focus on executing targeted infrastructure upgrades and equipment enhancement programmes in 2026. The initiatives, under its five-year Digital Blueprint Roadmap, include a comprehensive status quo assessment of infrastructure, systems, terminal layouts, automation, and data lifecycle management across all MMC Ports’ operating companies, marking 2026 as a strategic year for consolidation and modernisation. The roadmap was crafted following its collaboration agreement with NIZE Technology Co. Ltd, the technology arm of Shanghai International Port Group (SIPG), in December 2025. It aims for a comprehensive digital and smart port transformation, resulting in a unified digital foundation across the board. MMC Ports CEO Datuk Azman Shah Mohd Yusof said the target is to ensure all terminals, both container and conventional, align on a common technological baseline to create a seamless, interconnected PETALING JAYA: Ambest Group Bhd, an engineering support services provider specialising in precision machining, aims to raise approximately RM27.5 million through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd on Feb 6, 2026. The IPO involves the issuance of 110 million new shares at an issue price of 25 sen per share. Of the total proceeds, Ambest said approximately RM12.0 million will be used to repay bank borrowings, primarily for the acquisition of its Factory 42A in Bayan Lepas, Penang. A further RM3.9 million will be allocated for the purchase of new machinery, while about RM6.8 million has been earmarked for working capital requirements. The remaining RM4.8 million will be used to cover listing-related expenses. Managing director Tan Beng Beng said the company will continue to focus on its core precision machining business after listing, particularly in serving customers in the semiconductor industry. “We will also continue to upgrade our quality standards, which have always been emphasised by our management, and this listing marks the beginning of our next chapter,” he told a press conference held in conjunction with the launch of the company’s prospectus here yesterday. Tan said Ambest’s expansion

ecosystem that supports the data driven decision-making required for the next phase of MMC Ports’ growth. “This focus on system-wide efficiency is already translating into measurable operating outcomes,” he said, adding that the move is expected to strengthen operational efficiency and resilience, which is vital to maintain competitiveness amid shifting global trade dynamics. “This ensures we remain a competitive, preferred logistics hub in the region capable of absorbing the shifting tides of global trade dynamics,” Azman Shah told Bernama. In an environment where scale, speed and resilience increasingly define port competitiveness, MMC Ports is aligning its systems with operating models already tested at global megahubs, he said. The MMC Ports–NIZE Technology partnership signals MMC Ports’ adoption of the architectural framework that powers SIPG’s operations, a company whose Shanghai Port handled 50.56 million twenty-foot equivalent units (TEUs) in the first 11 months of 2025, up

AmBest aims to raise RM27.5 million from IPO

Tan (second from left) during a press conference after officiating the Ambest prospectus launch. – BERNAMAPIC

control machine – which are expected to increase overall production capacity by about 4%. The public issue portion of the IPO will close on Monday, Jan 27, 2026, at 5pm. Malacca Securities is the principal adviser, sponsor, underwriter and placement agent for Ambest’s IPO, while WYNCORP Advisory Sdn Bhd serves as the corporate finance adviser for the exercise. – Bernama

additional certifications to prepare for its entry into more regulated industries. “Currently certified under ISO 9001 and ISO 14001, the group is working towards further certifications, including ISO 13485, as part of its longer-term strategy,” he said. Tan added that Ambest plans to acquire two additional advanced machines – a five-axis machine and a horizontal computer numerical

plans are anchored by Factory 42A, the group’s newly acquired production facility. “This factory is intended to support new orders from new customers, as well as additional orders from our existing customers,” he said. On the company’s next phase of growth, he said, Ambest will focus on strengthening its internal capabilities, including obtaining