21/05/2026

BIZ & FINANCE THURSDAY | MAY 21, 2026

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Foundryx, Coohom, Homag launch digital home platform

Feytech records RM6.07m profit before tax PETALING JAYA: Feytech Holdings Bhd has recorded a 129% year-on-year increase in profit before tax (PBT) to RM6.07 million for the first quarter ended March 31, 2026 (Q1’26). The group’s revenue grew 32% to RM38.93 million, resulting from the group’s focus on higher-value product mix and operating leverage. The automotive seat segment was the primary growth driver, expanding 68.9% or RM23.57 million year-on-year. It’s gross profit margins strengthened to 27.2% from 20% in Q1’25 reflecting improved cost absorption, operational efficiencies, and a more favourable product mix across the group’s manufacturing operations. “The first quarter result demonstrates the strength of Feytech’s manufacturing core and our ability to execute on the right product decisions. We have improved our margin profile significantly while securing new projects that will underpin multi year revenue visibility. The foundation we are building now is designed to deliver durable, not just immediate, value,” said Feytech CEO Connie Go. During the quarter, Feytech secured a new seat cover supply contract with Proton for an upcoming model. The 84-month contract is expected to generate about RM96.83 million in total revenue, averaging RM13.8 million annually and further reinforces the group’s long-term order book visibility with its key OEM customers. The group also secured OEM contracts with Chery and Hyundai through the Completely Knocked Down (CKD) assembly channel, broadening its base of relationships with major international automotive brands. Feytech has extended the timeline for utilising RM51.5 million in IPO proceeds earmarked for the construction of its new corporate office with manufacturing plant and warehouse as well as Kulim Plant 2. The group’s strong cash position, with deposits, cash and bank balances of RM39.28 million and other investments of RM130.26 million as at March 31, 2026, affords it the discipline to ensure every ringgit is deployed to maximise shareholder value. “Our strong cash position gives us the discipline to deploy capital where and when it creates the most value. We are not in a hurry to spend for the sake of spending. Every commitment we make is measured against the quality of returns it delivers for our shareholders,” Go said. Expecting a structural shift in the automotive industry, Go said the group remains cautiously optimistic this year, as the Ministry of Investment, Trade and Industry’s recent move to tighten EV import conditions is expected to drive foreign manufacturers towards local CKD assembly, directly benefiting local parts suppliers such as Feytech.

KUALA LUMPUR: Malaysia’s home and living industry is set for a major digital transformation as Foundryx Malaysia signed a tripartite memorandum of understanding (MoU) with Coohom from China and Homag from Germany to launch the country’s first integrated digital ecosystem connecting design, sales, manufacturing and installation into one seamless workflow. The collaboration brings together complementary strengths to address long-standing inefficiencies caused by fragmented systems, manual coordination and disconnected workflows across the industry. Foundryx’s EcoHub SaaS platform acts as the digital workflow backbone, integrating Coohom’s AI-powered 3D

o Malaysia-China-Germany partnership integrates design, manufacturing and installation into one seamless ecosystem

“This transaction is aligned with that direction and reinforces our commitment to growing MNRB as a stronger and more resilient reinsurance and retakaful group,” he said. The proposed acquisition involves the purchase of 120 million ordinary shares in Labuan Re, representing the remaining 80% equity interest, from a consortium of Malaysian financial institutions and government-linked entities. The purchase consideration will be satisfied in cash and funded through a combination of internally generated funds and external borrowings. The transaction is subject to customary conditions, including approvals from the relevant regulatory authorities and MNRB’s non-interested shareholders, and is expected to be completed by the fourth quarter of 2026. expectations for faster delivery, greater design personalisation and improved project transparency, while businesses face increasing pressure to digitalise operations and improve sustainability practices. “Coohom’s technology enables designers, retailers and customers to visualise spaces with greater speed and clarity. Our cloud-based AI design platform allows high-quality 3D renders and design proposals to be generated quickly, helping customers make more confident decisions while allowing businesses to shorten the sales and design approval cycle,” said Coohom country manager Ivy Wang Xiaodi. Meanwhile, Homag’s role is to bridge the gap between approved design and manufacturing. Through AI-powered automation, the ecosystem is also able to eliminate errors automatically and optimise material usage before production begins. The automated optimisation significantly improves material efficiency and reduces industrial waste. “Through our manufacturing integration capabilities, design data can be translated into production ready manufacturing data – reducing manual redraws, improving accuracy, and supporting more efficient machine utilisation and material usage on the factory floor,” said Homag digital director Lorenz Mannl. Foundryx Malaysia is currently onboarding early adopters across Malaysia, particularly SME interior design firms, contractors and supplier brands, with plans to expand into neighbouring Southeast Asian markets including Singapore, Thailand and Indonesia.

deployment of capital across its reinsurance and retakaful operations. The transaction is also being undertaken at what MNRB considers to be an attractive and disciplined valuation, with the purchase consideration representing about 0.88 times Labuan Re’s adjusted tangible net asset value as at Dec 31, 2024. MNRB chairman Datuk Sulaiman Mohd Tahir said: “This proposed acquisition is a meaningful step in MNRB’s growth journey and reflects our confidence in the long-term potential of Labuan Re as part of the group. Labuan Re has built a credible presence in the international reinsurance market, and we believe that bringing it fully within MNRB will create a stronger platform for future growth.” As a group, he added, they remain industry continues to rely on fragmented manual workflows, creating inefficiencies, delays and excess costs across the project lifecycle. At the core of this ecosystem is the Foundryx EcoHub SaaS platform, which benefits multiple stakeholders across the industry including interior designers, retailers, manufacturers, suppliers, contractors and end customers through faster turnaround times, improved coordination, reduced wastage and greater overall efficiency. “For many SMEs in the home and living sector, digital transformation is often seen as expensive and fragmented. Foundryx EcoHub simplifies this by bringing design, workflow, manufacturing, and support into one connected ecosystem,” said Foundryx Malaysia founder and CEO Kay Choon Yip. “Built with a UX-first approach and integrated AI, the platform helps businesses onboard faster, operate efficiently, and scale confidently. It incorporates industry-first AI powered analytics to seamlessly integrate AI into everyday business processes,” he added. By mid-July 2026, he said, the Foundryx EcoHub SaaS model will officially open for industry-wide subscription. The MoU coincided with the official launch of Modura, Dee Noon Corporation’s new home cabinetry and lifestyle brand, which serves as one of the first real-world adopters of the Foundryx EcoHub ecosystem. The launch comes at a time when Malaysia’s renovation and interior solutions market is undergoing rapid change, driven by rising consumer

design and visualisation capabilities, and Homag’s advanced manufacturing integration. Together, the three partners aim to connect the entire customer journey, from initial engagement to after-sales support within a single, unified digital environment. Malaysia’s cabinet industry is valued at over tens of billion annually, with increasing demand driven by urbanisation, property development and changing homeowner expectations. However, much of the

Representatives from Foundryx Malaysia, Coohom and Homag at the launch of Malaysia’s first integrated digital ecosystem for the home and living industry.

MNRB to fully acquire Labuan Re to boost regional presence KUALA LUMPUR: MNRB Holdings Bhd has entered into a conditional share purchase agreement to acquire the remaining 80% equity interest in Labuan Reinsurance (L) Ltd (Labuan Re) for a total cash consideration of approximately US$100.69 million (RM400.49 million). general retakaful business across multiple markets. MNRB will be better positioned to align the business more closely with the group’s broader direction and growth trajectory, enhance its competitiveness across international markets, and optimise the focused on building scale responsibly, strengthening their regional relevance and ensuring that their capital is deployed in a manner that supports sustainable value creation.

Through its wholly owned subsidiary Labuan Re Underwriting Ltd (LRUL), Labuan Re also participates in the Lloyd’s market, providing access to broader and more specialised underwriting opportunities and international risk pools. Labuan Re’s business is supported by three primary income streams: underwriting reinsurance and retakaful business, participation in Lloyd’s through LRUL, and investment income. For the latest audited financial year ended Dec 31, 2024, Labuan Re recorded a profit after tax of about US$26.66 million or RM121.59 million and net assets of approximately US$197.54 million or RM884.09 million, reflecting a stable earnings profile and sizeable asset base. The proposed acquisition is expected to strengthen MNRB’s reinsurance focus and support its next phase of international growth. By taking full ownership of Labuan Re,

Labuan Re is currently an associate company of Malaysian Reinsurance Bhd (Malaysian Re), MNRB’s wholly owned subsidiary, which holds a 20% stake. Upon completion, Malaysian Re will retain its existing 20% interest in Labuan Re, while MNRB will hold the remaining 80% directly, making Labuan Re a wholly owned subsidiary of MNRB. The proposed acquisition builds on MNRB’s existing relationship with Labuan Re and marks a significant step in strengthening the international reinsurance presence of MNRB and its subsidiaries. Labuan Re is an offshore reinsurer based in the Labuan International Business and Financial Centre and underwrites general reinsurance and