08/08/2026

BIZ & FINANCE SATURDAY | AUG 8, 2026

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Vanzo expands regional presence with HK deal

M&A Securities to underwrite 40m new shares in EcoSys IPO

PETALING JAYA: EcoSys (Malaysia) Bhd, an industrial solutions provider serving the pan semiconductor industry, signed an underwriting agreement with M&A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia. According to the prospectus filed with Bursa Malaysia, EcoSys’ IPO comprises a public issue of 145.7 million new shares, representing about 25.5% of the group’s enlarged issued share capital of 571.35 million shares upon listing. There is no offer for sale under the IPO. The share allocation entails the issuance of 28.56 million shares or 5% of the group’s enlarged issued share capital, of which 14.28 million shares will be made available to Bumiputera public investors and the remaining 14.28 million shares to other Malaysian public investors. Further, 11.43 million shares or 2% of the enlarged issued share capital will be allocated to eligible directors and employees of the group, as well as persons who have contributed to its success. In addition, 71.42 million shares or 12.5% of the enlarged issued share capital will be reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry Malaysia (Miti), while 34.28 million shares or 6% of the enlarged issued share capital will be reserved for private placement to selected investors. Under the agreement, M&A Securities will underwrite 40 million new shares, comprising the shares allocated to the Malaysian public and eligible persons who have contributed to the group’s success. The remaining 105.70 million new shares will be placed out to Bumiputera investors approved by Miti and selected investors by M&A Securities in its capacity as placement agent. EcoSys managing director Chan Chee Wei said the signing of the underwriting agreement represents another important milestone in EcoSys’ journey towards becoming a publicly listed company. “Over the years, we have built our capabilities around technically demanding manufacturing processes where reliability, cleanliness, precision and environmental compliance are essential. We are pleased to have M&A Securities alongside us in this process, and we appreciate their confidence in our business model, operational track record and growth prospects.” The gross proceeds of about RM39.34 million to be raised from the public issue will be primarily utilised to support EcoSys’ growth strategy, including the expansion of its abatement segment through the purchase of key components and modules for abatement systems. The proceeds will also be used to repay bank borrowings, enhance operational capabilities through investments in machinery and manpower, expand the group’s presence in the Indian market, fund working capital requirements, and defray the estimated listing expenses. EcoSys obtained Bursa Malaysia’s approval for the listing on the ACE Market on June 8. M&A Securities is the principal adviser, sponsor, underwriter and placement agent for the IPO, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. EcoSys provides two complementary categories of industrial solutions, namely, ultra high purity fabrication of precision engineering components and sub-assembly modules, and the research and development, customisation, assembly, installation, testing, commissioning and maintenance of abatement systems. Its solutions support applications across semiconductor manufacturing equipment, front-end semiconductor production, solar photovoltaic panel manufacturing equipment and industrial gas supply systems.

grances, reed diffusers, smart home diffusers, fragrance oil refills, and selected licensed character collections, including Hello Kitty, Marvel and Disney Princess product series. Established in Hong Kong, Greatmart possesses extensive experience in consumer product distribution and retail channel management. Hong Kong also serves as an important gateway for premium consumer brands in Greater China and Asia, offering a highly developed retail landscape and strong consumer demand for quality lifestyle and fragrance products. Looking ahead, both parties will work closely across channel expansion, retail activation, brand building and consumer engagement initiatives. By combining Vanzo’s product innovation and brand strength with Greatmart’s local market expertise and distribution capa bilities, the collaboration aims to enhance market coverage and establish Vanzo as a leading fragrance and lifestyle brand in Hong Kong. This partnership further reinforces Vanzo’s regional expansion strategy and supports the group’s vision of building a strong international consumer brand presence across Southeast Asia and Greater China. The agreement is expected to contribute positively to Vanzo’s revenue and earnings over the duration of the agreement. It is also expected to strengthen Vanzo’s market positioning and support its long-term growth objectives.

o Greatmart Development appointed exclusive distributor of Malaysian company’s fragrance products in the territory

PETALING JAYA: Vanzo Holdings Bhd, Southeast Asia’s first listed fragrance brand, announced that wholly owned subsidiary Vanzo Hong Kong Ltd signed an agreement appointing Greatmart Development Ltd as the exclusive distributor of Vanzo products in Hong Kong. Under the agreement, Greatmart has been granted exclusive distribution rights for selected Vanzo fragrance and home care products in Hong Kong for an initial term of two years, subject to automatic renewal upon meeting agreed performance targets and compliance requirements. Through the collaboration, Greatmart will be responsible for developing and managing key retail channels in Hong Kong, including Watsons Hong Kong, ParknShop and Fortress, while expanding the availability and visibility of Vanzo products across the territory. The agreement represents a significant milestone in Vanzo’s international growth strategy and demonstrates the group’s continued commitment to strengthening its presence in key regional markets. Vanzo executive director Eddie Ng said the appointment of Greatmart reflects its confidence in Greatmart’s retail expertise, channel This is after AWC, the Main Market-listed leading engineering services group, through wholly owned subsidiary, Qudotech Sdn Bhd, secured a letter of acceptance from a joint venture contractor for the execution and completion of plumbing, silo tank, and internal sanitary works in relation to a data centre project, for a subcontract value of RM23.1 million. The contract is expected to be completed by June 2027 and contribute positively to the group for the financial year ending June 30, 2027 (FY27) until its completion. AWC Group CEO and president Datuk Ahmad Kabeer Mohamed Nagoor said this marks its engineering division’s third data centre contract secured in the past 12 months, and a solid start to FY27. “Achieving three such wins over this period affirms that our presence in this space has evolved from an emerging opportunity into a consistent and growing stream of work. “As demand for data centre infrastructure continues to accelerate, we are increasingly recognised as a trusted partner for complex, mission-critical projects of this nature. “We intend to build on this momentum to establish a deeper and more enduring presence in the sector,“ he said. Ahmad Kabeer said overall, the group’s focus remains on the disciplined execution of a healthy order book, which stood at RM865 million as of end-March 2026, excluding the latest contract win. “The contracts secured in FY26 have

relationships and market execution capabilities. “Hong Kong remains an important strategic market for Vanzo, providing us with a strong platform to further enhance brand awareness and consumer accessibility. “Through this collaboration, we aim to strengthen our retail footprint, accelerate market penetration and create sustainable growth opportunities for the Vanzo brand in the territory,” he said. Vanzo is 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. Under the agreement, Greatmart will actively develop retail distribution channels, execute approved marketing and pro-motional activities, and provide regular market intelligence and sales performance reporting. The partnership is structured to support sustainable long-term brand development while ensuring consistent market repre sentation and customer engagement across Hong Kong. The portfolio covered under the agree ment includes Vanzo’s established range of fragrance products, comprising car fra

AWC set to ride data centre wave: Berjaya Research PETALING JAYA: Berjaya Research Sdn Bhd expects AWC Bhd to continue capitalising on Malaysia’s robust data centre investment cycle by leveraging its established track record to secure additional data centre-related plumbing contracts, following another similar contract secured in early April 2026.

Ahmad Kabeer says contracts secured in FY26 have already begun to contribute positively to the group.

Berjaya Research maintained its earnings forecast and order book replenishment assumption for FY27, as the contract falls within the research firm’s FY27 replenishment assumption. “We maintained our Buy recommendation on AWC with an unchanged target price of RM0.66, derived from FY27’s sum-of-the-parts valuation. We continue to like AWC for riding on the ongoing data centre developments in Malaysia, and its proactive exploration of global business opportunities,“ Berjaya Research said. Key downside risks include receivables impairment risk, rising input costs could impact profit margins, and project delays and execution risk amid the US-Iran conflict.

already begun to contribute positively, as reflected in our Q3 FY26 results, and we expect this to gain further traction as execution progresses,” he added. Berjaya Research believes the latest win further reinforces earnings visibility over the next two to three years, underpinned by an estimated outstanding order book of RM770.0 million as at end-July. “The awarded contract is expected to fetch a profit before tax (PBT) margin of 8%-9%, which is similar to past plumbing works for data centre projects secured by the group, potentially translating to an estimated PBT of RM1.8 million-RM2.1 million over FY27,“ the research firm said in a note.