26/03/2026

BIZ & FINANCE THURSDAY | MAR 26, 2026

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KUALA LUMPUR: About 30% of Malaysian public-listed companies assessed in LGMS Bhd’s latest study have shown a “cyber risk posture associated with a high likelihood of being hacked if specifically targeted”. “This underscored the need for greater urgency among Malaysian PLCs to strengthen their cyber defences,” it said in a statement yesterday. LGMS is a Malaysian cybersecurity consulting firm established in 2005 to provide independent assessments, penetration testing, compliance audits and advisory services. LGMS’s finding was based on 54 companies that received an ‘F’ rating from a sample of 186 assessed. It said the study was based on a non-intrusive, outside-in assessment of 186 listed companies selected by top revenue sizes within their KUALA LUMPUR: Empire Premium Food Bhd is doubling down on expansion and operational efficiency as it prepares for its debut on the Main Market of Bursa Malaysia Securities, banking on fast outlet payback and resilient consumer demand to drive post-listing growth. The group, which operates the Empire Sushi chain, plans to open 56 new outlets over the next three years, with funding largely from RM152.6 million it aims to raise through its initial public offering (IPO). CEO Nicole Lim said the company’s expansion strategy is underpinned by disciplined site selection and a proven business model that delivers quick returns. “The average payback period is nine months for each outlet,” she told reporters after the prospectus launch yesterday. Empire Premium Food currently operates 143 outlets nationwide, and Lim said the group will continue to expand opportunistically rather than focusing on specific regions. “We are covering all regions. We will look at prime locations and opportunities instead of targeting a specific area.” The group operates two main formats – grab-and-go kiosks and quick-dining-in outlets, each with a different cost structure. Quick dine-in outlets typically cost between RM900,000 and RM1 million to set up, while smaller formats require RM550,000 to RM600,000. Despite aggressive expansion in recent years, Empire Premium Food has closed only one outlet, which Lim attributed to careful planning and location strategy. On same-store sales growth, the company expects a stronger performance in the second half of the financial year, supported by festive demand. “We are still targeting same store sales growth of 3% to 5%,” Lim said. While cost pressures remain a concern across the food and beverage sector, she said the group has developed internal strategies to protect margins, including frequent menu optimisation. “Every quarter, we will replace underperforming items with new ones, including higher-margin products to encourage customer purchases.” This approach, she noted, has Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

Empire Premium Food banks on fast payback, resilient demand

respective industry sectors. It used publicly available commercial and open source internet data to evaluate each company’s visible cyber posture from a hacker’s perspective. LGMS’s score summary showed that only 26 companies received an ‘A’ rating and 46 a ‘B’ rating, while 33 were rated ‘C’, 27 ‘D’, and 54 ‘F’. In total, 114 of the 186 listed companies assessed fell below the top two rating bands, pointing to a broad room for improvement in terms of external cyber resilience. Companies rated‘A’were described as having relatively limited visible exposure, while ‘F’-rated entities were described as having a very large attack surface and a high likelihood of suffering successful unauthorised access if specifically targeted. “F-rated entities are 13.8 times more likely to be breached compared helped the group navigate rising costs over the past decade. Empire Premium Food also maintains tight operational controls, including managing food wastage at around 7%, which Lim described as an optimal level. “If we reduce wastage too much, it means staff will prepare less sushi, especially in the evening, which can affect sales. So we balance between wastage and revenue,” she explained. As for expansion strategy, the group will continue to focus on high traffic locations such as shopping malls, airport retail areas and transit hubs, while maintaining its core positioning in the affordable sushi segment. Lim said that more than 90% of outlets are halal-certified, with the remainder in the process of obtaining certification, thereby ensuring broad accessibility for Malaysian consumers. Addressing concerns about competition and pricing pressures, she emphasised that product quality remains the key differentiator. “Malaysian consumers don’t only look at price. If the taste is not good, even if it is cheap, they won’t buy.” Looking ahead, Lim identified talent development as one of the biggest operational challenges as the company scales. “For sushi, we need skilled workers. We need to train them in cutting and preparation. For me, the biggest challenge is attracting and retaining people.” o Operator of Empire Sushi chain plans to open 56 more outlets in next three years, funded largely by IPO proceeds

Lim (sixth, left) and Maybank Investment Bank CEO Michael Oh-Lau (seventh, left) with directors and senior management from Empire Premium Food and the bank at the prospectus launch.

billion and US$70 billion by 2030, Cybozu’s investment serves as a critical engine for this national growth,” it said. The group said Southeast Asia is the group’s fastest-growing market, recording a 13.4% y-o-y increase in subscribing companies. “Beyond mature hubs like Singapore, we see the highest potential for returns in Malaysia and Thailand, where the appetite for digital transformation is strong while our resources are in a high-return environment that allows for scalable growth,” said Cybozu Inc chief executive officer Yoshihisa Aono. “Growth is particularly evident in hyper-local markets such as Malaysia and Thailand, where the latter achieved 300% y-o-y growth in 2025 compared to 2024 in its customer base,” the statement said. – Bernama Application for the IPO is open and will close on March 31, with listing scheduled for April 17. Upon listing, Empire Premium Food is expected to have a market capitalisation of about RM770 million. Maybank Investment Bank is the principal adviser, sole placement agent, sole bookrunner and sole bookrunner and sole underwriter for the IPO. Lim said that the group, as it embarks on this next phase, remains focused on its original vision of making sushi accessible to the mass market. “We will continue to develop high-quality and tasty sushi that remains affordable, staying true to our mission of bringing sushi into everyday life.”

KUALA LUMPUR: Japan’s provider of cloud-based solutions Cybozu Inc is injecting an initial US$6.4 million (RM25 million) into its Malaysia operations as part of its intensified focus on Southeast Asia as its most promising region for global investment. “This strategic commitment places Malaysia, its Southeast Asia head quarters, at the centre of the group’s regional expansion, with plans to accelerate digital transformation for the small and medium enterprise (SME) sector across the territory,” the company said in a statement yesterday. “Building on this global momentum, Cybozu aims to champion Malaysia’s digital potential in alignment with the 13th Malaysia Plan. “As Malaysia’s digital economy is projected to reach between US$45 reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti), and 155.5 million more shares – comprising 7.5 million existing shares and 148 million new shares – allocated to institutional and selected investors other than Miti-approved Bumiputera investors. For the retail portion, 70 million new shares are set aside, of which 55 million will be offered to the Malaysian public through a balloting process. Within this, 27.5 million shares are reserved for Bumiputera individuals and institutions. The remaining 15 million new shares will be allocated to directors, eligible employees and individuals who have contributed to the group’s growth.

with A-rated entities,” LGMS said. “The comparable multiples were 2.9 times for B-rated entities, 5.4 times for C-rated entities, and 9.2 times for D-rated entities.” LGMS noted that many of the visible findings in the lower-rated group appeared to stem from websites and servers, indicating that internet-facing systems remain a significant point of weakness for many organisations. “The findings indicate that a sizeable portion of Malaysia’s listed companies may still have a visible attack surface that could be exploited if left unaddressed.” “Hence, the responsible course is to identify those weaknesses early, reduce unnecessary exposure and strengthen safeguards before hackers take advantage of them,” it added – Bernama She added that the company is not planning to adopt a franchise model, preferring to maintain control over quality and operations. “If we wanted to franchise, we would have done it from the begin ning,” Lim said. On the rationale for listing, she said the IPO is not driven by immediate funding needs alone, but also by the need to attract professional talent and support long term growth. “I want more resources for the people. To sustain the brand long term, you must have pro fessional people.” Of the 363 million shares on offer, 293 million are earmarked for the institutional tranche. This includes 137.5 million shares

LGMS study: 30% of local public-listed firms face high likelihood of being hacked

Japan’s Cybozu injects US$6.4m into M’sian operations, eyes SE Asia growth