04/04/2026

BIZ & FINANCE SATURDAY | APR 4, 2026

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EI Power inks underwriting deal with M&A Securities

KUALA LUMPUR: UEM Edgenta Bhd has moved a step closer to be taken private after receiving shareholders’ approval for the selective capital reduction and repayment exercise (SCR) proposed by UEM Group Bhd. The paragraph 8.29A(1) of Bursa Malaysia’s main market listing requirements stipulates that the special resolution shall be put to vote by poll. During the Extraordinary General Meeting (EGM) held on Thursday, 97.09% in value of the total UEM Edgenta disinterested shares which were casted, voted in favour of the resolution and the voting shares casted against (1.33%) were less than 10% of the voting shares held by non-interested shareholders – meeting the thresholds required for the passing of the resolution. With shareholders’ approval attained, UEM Group will increase its current stake of 69.14% in UEM Edgenta to 100%, effectively making UEM Edgenta its wholly-owned subsidiary. To acquire the remaining 30.86% stake or 257 million shares, UEM Group will purchase UEM Edgenta shares for RM1.10 per ordinary share, with total cash repayment amounting to RM282 million. The proposed SCR will become effective upon lodgement of the sealed order from the High Court of Malaya with the Companies Commission of Malaysia. The delisting of UEM Edgenta from the Main Market of Bursa Malaysia is expected to be completed in early July 2026. UEM Edgenta moves closer to being taken private Malaysia least impacted in Asean by West Asia conflict: RHB KUALA LUMPUR: Malaysia is the Asean economy least negatively impacted by the ongoing West Asia conflict, according to RHB Investment Bank Bhd (RHB IB). In its Global Economics and Market Strategy report yesterday, the investment bank said, however, any prolonged or intensified risks could affect oil prices and Malaysia’s trade prospects, against its current in-house gross domestic product (GDP) growth projection of 4.7%. “Overall, the results suggest that higher oil prices have a nuanced impact on Malaysia’s economy. “While rising energy costs can modestly weigh on growth by increasing production expenses, this effect is partly offset by stronger external trade, particularly through oil and gas exports, which are highly responsive to oil price movements.” As a net energy exporter, Malaysia stands to benefit from higher oil and gas revenues, supporting growth via the trade channel, although elevated prices may also exert moderate upward pressure on inflation and production costs.

allows it to undertake projects with no limit on contract value, and a registered PV service provider with the Sustainable Energy Development Authority, enabling its participation in solar PV projects. In a statement, EIP said, the IPO exercise involves a public issue of 129.5 million new ordinary shares (Issue Shares), representing 18.5% of its enlarged share capital, as well as an offer for sale of 70.0 million existing shares (Offer Shares), accounting for 10.0% of its enlargedshare capital. Of the 129.5 million Issue Shares, 35.0 million Issue Shares will be made available to the Malaysian public via balloting; 17.5 million Issue Shares to its eligible directors, employees and persons who have contributed to the success of the group (Pink Form Allocation); 14.0 million Issue Shares for the entitled shareholders of OCK Group Bhd via restricted offering; while the remaining 63.0 million Issue Shares

The group’s power engineering solutions encompass the design, project management, supply, installation, testing, commissioning and maintenance of diesel generation and fuel distribution systems as well as solar photovoltaic (PV) systems, supporting the continuity of business operations for its customers. Headquartered in Shah Alam, the group has established a track record of some 16 years, serving various built environments ranging from commercial, industrial and residential properties to solar farms and mission critical facilities such as data centres and semiconductor plants. The group’s operations span across Malaysia, with a presence in the central, southern, eastern and northern regions. The group is recognised as a Class A Electrical Contractor by the Energy Commission Malaysia. It is also registered as a Grade G7 Contractor with the Construction Industry Development Board, which

“We are honoured to once again partner with TNB and to contribute to Malaysia’s growing demand for power grid modernisation and asset refurbishment, an area that aligns strongly with our technical expertise and track record. “Looking ahead, we remain committed to strengthening our position in the M&E segment. “We will continue to actively pursue quality opportunities, while maintaining a disciplined and selective approach to project execution to ensure sustainable growth and long-term value creation for our stakeholders.” Separately, the group had also secured two subcontract work at an industrial park in Johor in the previous month, further reinforcing its improving order book visibility and underscoring its ongoing recovery and growth momentum. will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). Meanwhile, of the 70.0 million Offer Shares, 24.5 million Offer Shares will be made available by way of private placement to selected Bumiputera investors approved by the Miti, with the balance 45.5 million Offer Shares to be placed out to selected investors. Pursuant to the underwriting agreement, M&A Securities will underwrite a total of 66.5 million Issue Shares made available to the Malaysian public, Pink Form Allocations, and entitled shareholders of OCK. “The signing of this underwriting agreement with M&A Securities marks a key milestone as we progress towards our upcoming listing on the ACE Market of Bursa Securities,” executive director cum CEO Albert Chang Wan Siong said. “It reflects the progress we have made and positions us to scale our operations, expand our capabilities, and elevate our presence in the market as we enter the next phase of growth. “Proceeds from the IPO will be deployed to support our strategic initiatives, including expanding our operational capacity, enhancing our service offerings, and extending our geographic footprint, including into Thailand. “These plans are aimed at enabling us to better serve our customers, remain competitive in a rapidly evolving market, and capture opportunities arising from increasing need for reliable and efficient power solutions.” EIP is scheduled to be listed on the ACE Market of Bursa Securities by the second quarter of 2026. M&A Securities serves as the adviser, sponsor, underwriter and placement agent for the IPO exercise.

KUALA Power engineering solutions provider, EI Power Bhd (EIP), has entered into an underwriting agreement with M&A Securities Sdn Bhd, a wholly-owned subsidiary of M&A Equity Holdings Bhd, in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd. EIP, through its subsidiaries, provides engineering, procurement, construction, and commissioning (EPCC) of mission critical power solutions, conventional power solutions, and renewable energy power solutions. o Power engineering solutions provider to list on ACE Market of Bursa LUMPUR:

Bintai Kinden secures RM44.65m TNB contract (From left) EIP independent non-executive chairman Datuk Jamaludin Nasir, OCK Group managing director Datuk Wira Sam Ooi Chin Khoon, EIP executive director cum chief operating officer Sharon Mak May Cheng, Chang, M&A Equity Holdings managing director Datuk Bill Tan Choon Peow, corporate finance head Gary Ting Hua Tai and corporate finance deputy head Rachel Ho Seow Leng.

PETALING JAYA: Bintai Kinden Corporation Bhd (BKCB), a mechanical and electrical (M&E) engineering services specialist, construction, medical device manufacturer and facilities operator, has secured a contract from Tenaga Nasional Bhd (TNB) with a total value of RM44.65 million. The contract involves asset replacement and refurbishment for primary and secondary combined equipment, as well as the installation of a New 1X240MVA auto transformer at the PMU 275/133KV Bukit Tengah substation in Penang. The project is expected to be completed within 730 days from the commencement date. This award represents the group’s first contract from TNB following BKCB’s successful upliftment from PN17 status. More importantly, Bintai Kinden

“It reflects not only renewed confidence in Bintai Kinden’s capabilities, but also the resilience and determination demonstrated by the group in overcoming past challenges.” For context, he added, TNB had previously terminated eight ongoing projects awarded to BKCB on June 21, 2023 and a further two projects on July 13, 2023 following the freezing of the group’s banking facilities, which arose from the recall of facilities of another subsidiary within the group. “Over the past three years, we have diligently resolved these issues, rebuilt our financial standing, and strengthened our operational capabilities,”Tay said. “Today, we stand on firmer ground and are fully prepared to deliver with excellence in our core area of specialised M&E works.

said in a statement, the contract award serves as a strong validation of TNB’s continued confidence in the group’s technical expertise, execution capabilities, and strengthened financial position as a trusted M&E engineering partner. With this latest contract win, BKCB’s outstanding order book has strengthened to RM199.0 million, providing robust earnings visibility over the near term. The group’s momentum remains aggressive, with RM2.08 billion worth of active bids currently under evaluation, underscoring a healthy pipeline of opportunities across the M&E and construction sectors. “Securing this contract from TNB marks a significant milestone for the Group, coming on the heels of our successful exit from PN17 status,” BKCB managing director cum CEO Datuk Tay Chor Han said.