20/04/2026

BIZ & FINANCE MONDAY | APR 20, 2026

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Aizo’s proposals to bolster balance sheet, support growth get Bursa approval

PETALING JAYA: Aizo Group Bhd has received approval from Bursa Malaysia for a series of corporate exercises aimed at strengthening its balance sheet and supporting future growth initiatives. The approved proposals include private placement, rights issue with free warrants, and share capital reduction, as well as allocations to investors and key management, forming a comprehensive capital restructuring and fundraising exercise. With Bursa Malaysia’s approval now in hand and pending the agreement from Aizo’s share holders at a special meeting, the group can now explore various funding options, including issuing up to 763.9 million placement shares and over 3.31 billion rights shares, along with free warrants, allowing them to raise money while involving more shareholders. The proposals also include allocations to strategic and internal stakeholders, aligning key parties with the group’s long-term growth trajectory. The proceeds raised from the proposed private placement are intended to be primarily used for the group’s capital injection into the Large Scale Solar 5 (LSS5) project, which was announced on April 28, 2025, following the formalisation of the power purchase agreement with Tenaga Nasional Bhd. This represents a key milestone in Aizo’s expansion into the renewable energy sector. Barring unforeseen circum stances, the LSS5 project is expected to contribute to future earnings visibility for AIZO and its group of companies moving forward. Aizo executive chairman Datuk Abang Abdillah Izzarim said the approval from Bursa Malaysia marks a step forward in executing the group’s capital strategy. “These proposals are designed not only to strengthen our balance

a rough week, recording the worst weekly performance since late February. The share price finished at RM5.57, 4.3% lower w-o-w, which is in line with the week’s decline in global oil prices. PCHEM-C1Z with an exercise price of RM4.88, saw RM14.9 million value traded as the bid price of call warrant fell 8.2% w-o-w to RM0.225. To view the full list of structured warrants available on Bursa Malaysia, visit malaysiawarrants.com.my. Provided for Malaysian residents’ information only. This commentary has not been reviewed by the Securities Commission Malaysia. It is not an offer or recommendation to trade and is not research material. Past performance is not indicative of future performance. You should make your own assessment and seek professional advice. The warrants will not be offered to any US persons. sheet but also to equip AIZO with the financial flexibility required to support our next phase of growth. “As we expand our presence in areas such as renewable energy and infrastructure, having the right capital structure is critical. “The LSS5 project is a key growth driver for the company, and this fundraising exercise will enable us to execute it effectively while positioning Aizo for sustainable long-term value creation.” This development comes at a pivotal time, as Aizo accelerates its expansion across infrastructure, renewable energy, and emerging business segments. The LSS5 project represents a key strategic initiative for the group, supporting its expansion into the renewable energy sector while providing long-term earnings visibility. The capital exercises are expected to provide the group with the financial capacity to fund its ongoing projects, with a key focus on advancing the LSS5 project, and strengthening the company’s financial flexibility and capital structure. The inclusion of warrants in the rights issue provides an added incentive to the entitled share holders to subscribe to the rights shares, while the share capital reduction exercise is intended to rationalise the group’s capital base. Upon completion, the proposals are expected to enhance Aizo’s capital position and support its transition towards more sus tainable and scalable earnings streams. The implementation of the proposals remains subject to shareholders’ approval and compliance with relevant regu latory requirements. Looking ahead, Aizo remains focused on executing its strategic priorities while strengthening its financial foundation to support long-term value creation.

SC goes to China to explore opportunities o Focus on accelerating bilateral capital SC managing director Datin Paduka Azalina Adham (centre), Sheng (fifth from left) and members of the SC management with senior representatives from China Galaxy Securities and China Southern Asset Management in Beijing recently.

LAST week, the Malaysia warrants market saw a 17.1% surge in turnover to RM585.6 million, from RM499.9 million in the prior week. Warrants over the Hang Seng Index (HSI) in particular saw the highest jump in investors’ interest. Week-on-week (w-o-w), the turnover of HSI warrants soared 54.6% from RM161.5 million to RM249.8 million. However, warrants over Malaysian stocks continued to dominate the warrants space with RM316.8 to RM585.6 million traded, which made up more than 54% of the total warrants turnover. With developments between the US and Iran, the HSI had a volatile start last Monday, opening high but finished in red daily through Wednesday. The trend reversed on Thursday, its best trading day last PETALING JAYA: The Securities Commission Malaysia (SC) recently undertook a visit to China to further the ambitions of the new Capital Market Masterplan 2026-2030 (CMP) to seek more diverse investors and to create more oppor tunities for Malaysian investors. Conducted alongside repre sentatives from Bank Negara Malaysia (BNM) and Bursa Malaysia Bhd, the visit reflects a coordinated national effort under the fourth pillar of the CMP to deepen international connectivity, broaden investor participation and position Malaysia as a preferred investment destination, the SC said in a statement. The engagements focused on accelerating capital market linkages between Malaysia and China, with an emphasis on unlocking new investment flows, strengthening institutional partnerships and ex panding avenues for cross-border capital-raising. High-level meetings were held with key Chinese regulators, including the China Securities Regulatory Commission and the State Administration of Foreign Exchange, underscoring a shared commitment to advancing regulatory cooperation and market connectivity.

market linkages, unlocking new investments, strengthening partnerships and expanding avenues for capital-raising.

enhanced Chinese participation in cross-border exchange-traded funds, potential dual listings and the expansion of Islamic capital market offerings such as sukuk. These initiatives are aimed at broadening the range of investment channels available to global investors while reinforcing Malaysia’s leadership in sustainable and Islamic finance. The Malaysian delegation was led by SC chairman Datuk Mohammad Faiz Azmi, BNM Beijing office chief representative Faizal Fathil, Bursa Malaysia CEO Datuk Fad’l Mohamed and SC Capital Market Advisory Committee member Tan Sri Andrew Sheng. China was selected as the first destination for CMP-related regional engagements, reflecting the depth of bilateral economic ties and the significant opportunities to further scale investment connectivity between the two markets.

week, where the HSI finished over 446 points or 1.72% higher as geopolitical tensions eased and falling oil prices boosted risk appetite. On Friday, the HSI erased some gains yet finished the week in the positive territory, up 1% w-o-w. Demand for HSI calls was higher than for puts last week, with three call warrants on the top five traded HSI warrants list. HSI-CWOK and HSI CWO9 stole the limelight with RM29 million and RM17.9 million traded, respectively. Comparing these two warrants, HSI-CWO9 has higher exercise level and longer time to expiry. With all factors kept constant, warrants with longer time to expiry generally experience a slower rate of time decay as compared to shorter dated warrants. Meanwhile, put warrants HSI PWP6 and HSI-PWRK were the most popular among bearish investors, with RM14.7 million and RM11.9 The delegation also engaged with leading Chinese institutional investors, including China Investment Corpo ration, as well as major fund management firms, such as China Asset Management Company, E Fund Management, Harvest Fund Management, Yinhua AMC and China Southern Asset Management. These engagements are expected to catalyse greater investor interest in Malaysia’s capital market and facilitate more sustained partici pation from one of the world’s largest pools of institutional capital. Building long-standing insti tutional ties, discussions also advanced cooperation in key areas such as enforcement, investigation and market surveillance to create a more integrated and resilient cross border investment ecosystem. Participants further explored opportunities in product innovation and market development, including

Demand for Hang Seng Index issues jumps more than 54% WARRANTS WATCH

Overall top traded HSI warrants by value: Warrant Value Issuer Exercise Expiry date name (RM mil) level HSI-CWOK 29.0 Kenanga 27,000 29 Apr 2026 HSI-CWO9 17.9 Macquarie 29,000 28 May 2026 HSI-PWP6 14.7 Macquarie 24,000 28 May 2026 HSI-CWQV 13.2 Maybank 24,000 30 Jul 2026 HSI-PWRK 11.9 Macquarie 23,000 29 Jun 2026

were pressure throughout last week, falling 3.2% w o-w. Bullish investors took opportunity of the share price weakness to accumulate, and traded over RM10.7 million and RM8.6 million in SUNMED-CB and SUNMED CA, respectively. Meanwhile investors who prefer call warrants with a relatively low absolute price traded SUNMED-CJ which closed at a bid price of RM0.060 on Friday. Malaysia’s largest integrated chemicals producer PChem also had under selling

million in turnover, respectively. Put warrants are designed to move in the opposite direction to the underlying stock or futures. Therefore, the value of put warrants will increase when the underlying stock of futures falls or decline, and vice versa. On the local front, warrants over Sunway Healthcare (SunMed) and Petronas Chemicals (PChem) saw the highest trading interest, with RM30.8 million and RM30.4 million changing hands, respectively. SunMed shares