24/06/2026

BIZ & FINANCE WEDNESDAY | JUNE 24, 2026

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Vanzo to distribute China’s Liby brand in Malaysia

Kerjaya Prospek lands Penang job worth RM488m PETALING JAYA: Kerjaya Prospek Group Bhd has secured a building contract worth RM488.4 million on Penang island, the latest in a string of jobs the construction outfit has won from companies linked to its own chairman. In a filing to Bursa Malaysia, Kerjaya Prospek said its wholly owned Kerjaya Prospek (M) Sdn Bhd (KPSB), has accepted a letter of award from Persada Mentari Sdn Bhd for the works at Seksyen 2, Tanjung Pinang, Northeast District. The project runs in two phases, each anchored by a 46-storey block of serviced apartments with 540 units, for 1,080 homes in all. The first phase carries the bulk of the supporting infrastructure: a basement car park, podium park ing levels, commercial space, and recreational and facility floors. The second phase repeats the resi dential tower. Work is due to start on July 1 and should take 42 months to finish. According to the filing, Persada Mentari is an indirect subsidiary of Eastern & Oriental Bhd (E&O), the property developer chaired by Datuk Seri Tee Eng Ho, who is also the non-independent non-executive chair-man of Kerjaya Prospek. His wife, Datin Seri Toh Siew Chuon, and his brother, Datuk Tee Eng Seng, are executive directors at Kerjaya Prospek and hold interests in both companies. A third brother, Tee Eng Tiong, is the group’s CEO. Because of the overlapping interests, the contract is classed as a recurrent related-party transaction. Kerjaya Prospek said share holders gave the mandate for such dealings at the company’s annual general meeting on June 12. The contract, it said in the filing, “is in the ordinary course of business of KPSB and is under taken based on normal com mercial terms which are not more favourable than those generally available to the public”. For Kerjaya Prospek, the contract brings a larger order book and a new revenue stream span ning the next three years. The group expects the job to lift earnings and net assets per share for the financial years from 2026 through 2029. It will have no bearing on the company’s share capital. Tee said the group is honoured to continue its longstanding part nership with E&O through the landmark development on Anda man Island. “As one of Penang’s most prominent waterfront develop ments, Andaman Island represents a transformative project for the state, and we are proud to contribute to bringing this vision to life. This latest award marks our eighth contract win in 2026, bringing our year-to date FY26 new contract wins to RM2.1 billion, surpassing our initial target for the year. “Together with our outstanding order book of RM5 billion, the group remains well-positioned with strong earnings visibility and a healthy pipeline of construction projects over the coming years.”

Meanwhile, Vanzo has in recent years pursued brand upgrading and business diversification, expanding into household care, personal care and consumer product segments, while deepening its strategic foot print across Southeast Asia. Looking ahead, both parties will collaborate across multiple areas, including product development, market expansion, channel building, brand promotion and regional growth, with the aim of fully inte grating their strengths in branding, product, supply chain and distri bution to capture the strong growth opportunities arising from rising consumer demand and the fast growing household care market in Southeast Asia. The agreement is expected to contribute positively to Vanzo’s revenue and earnings for the financial year ending Sept 30, 2026. Vanzo is principally involved in the design, marketing and sale of air fragrance and fragrance-related products, including car and indoor fragrances, as well as personal and household care products.

build a nationwide network for the Liby products. Leadsun International is authorised by Guangzhou Liby Enterprise Group Co Ltd. Liby Group is one of China’s leading fast-moving consumer goods companies. Established in 1994 and headquartered in Guangzhou, China, it is among the nation’s leading detergent manufacturers, ranking No. 1 in China and No. 4 globally in detergent sales volume. Liby has established a strong market leadership position across laundry care, household cleaning and personal care segments, sup ported by an extensive distribution network spanning both domestic and international markets. As a leading player in China’s household and personal care industry, Liby Group has built a strong reputation backed by its robust research and development capabilities, integrated supply chain and powerful brand equity, position ing itself as one of the most pro minent domestic consumer brands in China.

authorised to expand nationwide distribution channels, including appointing sub-distributors, retailers and other sales networks. The agreement also includes safeguards to ensure that customers and channels developed by Vanzo Asia are protected from direct bypass by the supplier. The agreement has an initial term of one year and is subject to auto matic renewal upon expiry. Vanzo Asia will lead customer development and channel expansion in Malaysia, supported by mecha nisms to safeguard its market development efforts. The collaboration marks an important milestone in both parties’ expansion in the household care segment and represents a key step in Vanzo’s transformation from a fra grance-focused brand into a broader consumer products platform. Vanzo executive director Eddie Ng said the collaboration is expected to enhance the group’s product offer ings beyond its existing fragrance products, while leveraging its esta blished distribution capabilities to

PETALING JAYA: Vanzo Holdings Bhd, Southeast Asia’s first listed fragrance brand, has entered into a distribution agreement with Leadsun International Ltd to undertake all channel sales, brand promotion, media and digital communications for the Liby brand in Malaysia. Vanzo’s wholly owned subsidiary, Vanzo Asia Sdn Bhd, has been appointed as the non-exclusive importer and distributor of Liby branded products in Malaysia. Under the agreement, Vanzo Asia will be responsible for the im portation, marketing, distribution and sale of the products, and is marketing and sale of the consumer products o Company enters into agreement with Leadsun International on importation,

Feytech, CAuto to strengthen EV talent pipeline KUALA LUMPUR: Feytech Holdings Bhd has signed a memorandum of understanding with the Consortium Automotive of Malaysian Universities (CAuto) to establish an industry-first, multi-university internship pipeline aimed at strengthening Malaysia’s electric vehicle (EV) talent ecosystem. In a statement, the Malaysian Investment Development Authority (Mida) said the agreement links five major public technical universities with the automotive manufacturing industry as Malaysia accelerates its transition towards EVs and smart manufacturing.

CAuto’s five-member universities are Universiti Malaysia Pahang Al Sultan Abdullah (Umpsa), Universiti Tun Hussein Onn Malaysia, Universiti Teknikal Malaysia Melaka, Universiti Malaysia Perlis and Universiti Teknologi Malaysia. Under the joint Ministry of Higher Education Research and Industry Infused Incubator (MRI3) framework, Feytech will provide work-based learning, industrial training and final year project opportunities, in addition to offering competitive internship allowances and fully sponsoring selected student projects. Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the partnership came at an opportune time and would help empower local public technical institutions to align more closely with the needs of next generation automotive ecosystems. “Malaysia’s ability to attract and sustain high-quality investments depends on the strengths of its talent pipeline. As the automotive industry undergoes rapid transformation driven by electrification, automation and digitalisation, closer collaboration

From left: Mida executive director, investment facilitation, Mohd Riduan Abd Rahman, Progressive Impact Corp Bhd chairman Datuk Syed Hisham Syed Wazir, Yatimah, Bermaz Auto executive chairman Tan Sri Ben Yeoh, Sikh Shamsul Ibrahim, Go and Feytech Holdings independent non-executive chairman Datuk Mazlan Mohamad.

between industry and academia has become more important than ever,”he said in the statement. He added that the collaboration goes beyond internships and in dustrial training by exposing students to real manufacturing environments, production technologies and industry challenges, while enabling them to contribute to innovation even before graduating. Sikh Shamsul Ibrahim said the initiative would also support the development of local capabilities and talent required to strengthen supply chain localisation, enhance competi

tiveness, and increase the parti cipation of Malaysian companies in higher value-added activities within the automotive ecosystem. Meanwhile, Feytech CEO Connie Go stressed the importance of talent development and technological advancement as the country transitions rapidly towards EV adoption. “While the government continues to support the industry through progressive policies, industry players must play their part by creating opportunities for students, de veloping future-ready talent and supporting technology transfer.

“This partnership with CAuto ensures we’re not just meeting today’s workforce needs but preparing students for the AI-integrated smart factories and EV production environ ments of tomorrow,” she said. CAauto chairman and Umpsa vice chancellor Prof Dr Yatimah Alias said the partnership would bring universities and industry closer together, providing students from the five public universities with greater access to industry exposure and practical experience in the EV and automotive manufacturing sectors. – Bernama