21/02/2026

BIZ & FINANCE SATURDAY | FEB 21, 2026

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Malaysia’s 2026 trade off to robust start

Jishan seeks shareholder approval to transfer listing to ACE Market PETALING JAYA: Packaging

Market would mark “another milestone” following its listing on LEAP in February 2021. The board believes an ACE Market listing would enhance the group’s credibility and profile, improve liquidity in its shares and strengthen confidence among customers, suppliers and financial institutions. It says a transfer to the ACE Market would also provide a clearer price discovery mechanism through the proposed public offering, rather than relying solely on thin trading typical of the LEAP Market. By undertaking a public issue as part of the transfer, Jishan expects broader investor participation, including retail investors, which is not available on LEAP as it is confined mainly to sophisticated investors. The group believes this should translate into improved trading liquidity and a more transparent valuation benchmark for the company’s shares over time. The company also frames the move as a strategic step to support its next phase of expansion. An extraordinary general meeting to consider the proposals has been scheduled for March 16 in Nibong Tebal, Penang.

manufacturer Jishan Bhd is seeking shareholder approval to move its listing from Bursa Malaysia’s LEAP Market to the ACE Market, in a corporate exercise that will include a voluntary withdrawal and a preconditional cash exit offer. In a circular filed to Bursa Malaysia, the group said the proposal entails the voluntary withdrawal of its listing from the LEAP Market and the listing and quotation of its entire enlarged issued share capital on the ACE Market. The withdrawal from the LEAP Market is to be accompanied by a cash exit offer from Jishan Capital Sdn Bhd, Ng Eng Siong and Khor Keow Kuang (joint offerors) – for all remaining shares not already held by them. The indicative offer price is 50 sen per share, matching the intended initial public offering (IPO) price under the transfer exercise. According to the circular, the joint offerors currently hold about 56.95% of the company. They are offering to acquire the remaining 43.05%, equivalent to 101.24 million shares. Shareholders who prefer to remain invested may decline the exit offer and continue as share holders if the transfer proceeds, the filing noted. Jishan said the move to the ACE

Yusof said the agency will continue to play a proactive role in enhancing the nation’s global export com petitiveness. He said this can be achieved by implementing exporter development programmes and export promotions to ensure this growth momentum remains sustainable throughout the year. “This includes intensifying efforts to encourage exporters and micro, small, and medium enterprises to utilise 17 FTAs to strengthen market access and global competitiveness. “For 2026, Matrade has outlined 203 high-impact programmes, in cluding trade missions, international business matching sessions and capacity-building initiatives, aimed at empowering over 13,400 Malaysian companies to penetrate and maintain their positions in global markets,” he said. Moving forward, Matrade said the Ministry of Finance’s Economic Outlook 2026 estimates that Malaysia’s export growth will expand by 2.8% for the full year, supported by stable demand in the global technology market, which will act as a primary catalyst for high-value export performance. – Bernama the resilience of I-Bhd’s multi-engine business model and the disciplined execution of our development and investment strategies,” I-Bhd chairman Tan Sri Lim Kim Hong said in a statement. “The pickup in property develop ment billings in the fourth quarter, coupled with stable recurring income from our investment assets and leisure operations, has enabled the group to deliver another solid quarter of profitability.” Lim said the group’s remaining gross development value of about RM5 billion within i-City provides a strong foundation for future growth, with upcoming launches expected to further enhance revenue contribution and earnings momentum. “As we move into the next phase of i-City’s evolution, our focus remains on strengthening recurring income, enhancing asset productivity, and future-proofing the township through technology with artificial intelligence and robotics as key enablers. “Through AI World, Malaysia’s first AI-enabled urban precinct, we are progressively integrating digital infra structure, smart systems and data driven management across the i-City ecosystem to improve operational efficiency, uplift service standards and enhance the performance of our assets. “Importantly, these initiatives are anchored on commercial outcomes, not technology for its own sake. They are part of our long-term strategy to strengthen recurring income streams, raise asset productivity and dif ferentiate i-City as Malaysia’s bench mark for AI-enabled urban living,” he added.

o Up 12.6% year-on-year to RM272.37 billion in January, exports rise for seventh month in a row

KUALA LUMPUR: Malaysia’s trade performance in January 2026 remained robust, rising 12.6% year on-year (y-o-y) to RM272.37 billion, compared to RM241.97 billion in the same period last year, said the Ministry of Investment, Trade and Industry (Miti). In a statement, it said the growth was supported by the seventh consecutive month of export expansion, which recorded double digit growth of 19.6% to RM146.87 billion, while imports edged up by 5.3% to RM125.50 billion. “Trade surplus sustained its positive momentum for the 69th consecutive month since May 2020, totalling RM21.37 billion. “Trade, exports, imports and trade surplus also recorded their highest monthly values ever for January,” it said. PETALING JAYA: I-Berhad (I-Bhd), the master developer of i-City in Shah Alam, posted revenue of RM117.01 million for the fourth quarter ended Dec 31, 2025 (Q4 FY25), a 82.55% increase from RM64.10 million in the corresponding quarter last year, reflecting improved execution mo mentum across its core segments. For Q4 FY25, the group’s property development segment emerged as the primary growth engine, generating RM75.2 million in revenue, up from RM42.1 million in the preceding quarter. The increase was driven by accelerated construction progress and higher progressive billings from ongoing developments within i-City, reflecting improved project execution and operational efficiency. According to a Bursa Malaysia filing, I-Bhd’s net profit increased 60.97% to RM10.83 million in Q4 FY25, compared to RM6.72 million in the same quarter last year. Profit before tax (PBT) stood at RM77.1 million in FY25, a 80% year-on year rise from RM42.8 million in FY24. The strong year-on-year improve ment underscores the group’s streng thened execution capabilities and earnings momentum. Notably, the performance was achieved despite a measured opera tional strategy during the year, demonstrating the group’s ability to generate substantial revenue and profitability from its existing develop ments and recurring income base. Segmental PBT stood at RM13.1 million for the quarter, compared to RM16.1 million in Q3 FY25, where the comparative quarter was boosted by the write-back of earlier project related provisions no longer required

following the completion of con tractual deliverables. The property investment segment delivered stable revenue of RM6.9 million, underpinned by consistent rental contributions from Mercu Maybank, the group’s data centre and car park assets in i-City, and associate income from Central i-City Mall. Segmental PBT stood at RM3.7 million, maintaining a solid recurring income base that continues to provide earnings stability. The leisure and hospitality segment continued its steady upward trajectory, recording revenue of RM33.8 million, up 6% quarter-on-quarter. Segmental PBT improved to RM7 million, supported by sustained visitor footfall and stable operating per formance across i-City’s attractions, reinforcing the segment’s role in sup porting the group’s overall earnings resilience. For FY25, I-Bhd achieved revenue of RM322.6 million and PBT of RM77.1 million, reflecting the effectiveness of its diversified earnings model. Property development contri buted RM172.3 million in revenue and RM39.5 million in PBT, demonstrating the group’s ability to efficiently monetise its existing pipeline. Pro perty investment delivered revenue of RM26.8 million and PBT of RM19.1 million, underscoring the group’s growing recurring income contri bution. The leisure and hospitality segment recorded revenue of RM120.6 million and PBT of RM20.9 million, providing stable cash flow support and enhancing earnings sustainability. “This strong close to FY25 reflects electrical and electronic products, which grew to RM70.53 billion, a surge of 39.5% or almost RM20 billion. Export growth was further supported by higher shipments of optical and scientific equipment as well as machinery, equipment and parts. “In terms of markets, exports to all major trading partners increased, led by strong double-digit growth to China, the United States, Taiwan and the European Union, while exports to Asean grew at a more moderate pace. “Exports to free trade agreement partners also recorded broad-based expansion, particularly to Hong Kong, Korea, Mexico, India, the United Kingdom, the United Arab Emirates and New Zealand, (with) exports to Taiwan and Hong Kong reaching their highest monthly values to date,” it said.

Miti said the impressive monthly export performance was driven mainly by robust demand for manufactured goods, particularly I-Bhd delivers strong fourth-quarter, full-year results for FY25 The exercise remains subject to shareholder approval and regu latory clearances, including from Bursa Malaysia and the Securities Commission Malaysia. In a separate statement, Malaysia External Trade Development Corpo ration (Matrade) CEO Abu Bakar

Lim at AI World Experience Centre, i-City.