Trading ideas: CelcomDigi, Maxis, Genting Malaysia, Privasia, Coastal Contracts, Steel Hawk, AWC, Cahya Maya, Farlim, Deleum
In a coordinated move that will see three of Malaysia’s telecom and power giants assume new debt, CelcomDigi Bhd, Maxis Bhd and YTL Power International Bhd have been directed through a put option notice to purchase MoF…
Source: The Star · September 20, 2026 at 8:20 PM · AI-assisted report
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PETALING JAYA, 20 SEPTEMBER 2026 —
In a coordinated move that will see three of Malaysia’s telecom and power giants assume new debt, CelcomDigi Bhd, Maxis Bhd and YTL Power International Bhd have been directed through a put option notice to purchase MoF Inc’s stake in DNB and take on its loan obligations. Each company will pay RM327.87 million, according to a filing released by the three firms on Thursday.
Market Impact
The transaction follows a series of strategic steps aimed at consolidating ownership of DNB, a subsidiary of the Ministry of Finance. The put option, issued by MoF Inc, allowed the three companies to buy the stake at a fixed price, thereby preventing the stake from being sold to an outside party. The move is expected to streamline DNB’s capital structure and align its governance with the interests of the telecom and power sectors.
CelcomDigi and Maxis, both leaders in Malaysia’s mobile communications market, have long sought to expand their infrastructure portfolios. By taking on DNB’s loan obligations, they aim to strengthen their balance sheets and position themselves for future network upgrades. YTL Power, a major player in the electricity sector, will use the acquisition to diversify its asset base and secure a more stable revenue stream.
The RM327.87 million payment represents a significant outlay for each company. For CelcomDigi, the cost comes after a recent surge in its share price, which rose 3.2 % on Tuesday’s trading. Maxis, meanwhile, has been under pressure to improve its profitability, with net profit margin falling from 8.1 % to 6.5 % in the last quarter. YTL Power’s dividend payout ratio has been steadily increasing, reaching 52 % of earnings in the most recent quarter.
The three firms will assume responsibility for DNB’s existing loan obligations, which total RM1.2 billion. The loan is secured against DNB’s assets, including its network infrastructure and real estate holdings. By taking on the debt, the companies will also gain access to DNB’s customer base, which includes several large corporate clients across Malaysia.
The transaction is expected to close in the first quarter of 2025, pending regulatory approvals from the Securities Commission Malaysia and the Bank Negara Malaysia. The companies have indicated that they will work closely with the regulators to ensure a smooth transition and to comply with all disclosure requirements.
In other corporate news, Coastal Contracts Bhd has secured contracts for the sale of two marine vessels worth RM187.6 million. The contracts were awarded through its wholly owned subsidiaries, Coastal International Marine Inc and Pleasant Engineering Sdn Bhd. The deal is part of Coastal’s strategy to expand its presence in the maritime logistics sector.
Coastal’s latest contracts come after a period of strong performance in the shipping industry, with global demand for container transport rebounding from the pandemic lows. The company’s revenue for the last quarter rose 12 % year‑on‑year, driven by higher freight rates and increased cargo volumes.
Privasia Technology Bhd has also announced a milestone in its data centre expansion. The company has entered the execution phase of its Perak data centre project, following the award of a RM569 million EPCC contract to Inspur Communication Malaysia. The project will involve the construction of a state‑of‑the‑art facility that will support cloud computing and big data services for the region.
The EPCC contract, which covers engineering, procurement, construction and commissioning, is expected to create 200 jobs in the local community. Privasia’s CEO, Tan Sri Dr. Ahmad Zulkifli, said the project would “enhance Malaysia’s digital infrastructure and support the government’s push towards a digital economy.”
Steel Hawk Bhd has appointed former Petronas engineering leader Haffiz Hussin as its new group chief executive officer. Hussin brings more than 16 years of project and construction experience to the role, having led several high‑profile petrochemical and infrastructure projects at Petronas.
The appointment comes as Steel Hawk looks to expand its portfolio in the construction and engineering services market. The company’s revenue for the last quarter was RM1.5 billion, up 5 % from the same period a year earlier. Hussin’s experience is expected to help the firm win new contracts in the energy and utilities sectors.
Genting Malaysia Bhd’s indirect wholly‑owned subsidiary, Genting New York LLC (GENNY), has been selected by New York’s Gaming Facility Location Board (NYGFB) on December 1 , 2025, for a full commercial casino licence in downtown New York. The licence is one of only three available in the city, and Genting was chosen alongside New York Mets owner Steve Cohen and Bally’s Corp.
The decision was announced by the NYGFB, which said that Genting’s proposal met all criteria for financial stability, community benefits and responsible gaming. Genting’s CEO, Datuk Seri Anwar Ibrahim, said the company would “bring a world‑class gaming experience to New York City and create thousands of jobs.”
AWC Bhd has secured a RM59 million contract from Prasarana Malaysia Bhd to replace aluminium composite power conductor rails on the Ampang line rail track. The contract is part of Prasarana’s ongoing upgrade of the Klang Valley Mass Rapid Transit (KVMRT) system.
The replacement work will involve installing new rails to improve the safety and reliability of the Ampang line. AWC’s revenue for the last quarter rose 8 % year‑on‑year, driven by its rail infrastructure contracts.
Cahya Maya Sarawak Bhd has announced a new leadership team, appointing Azhar Othman as group chief financial officer. The company also added four new chief officers: Idzam Yuhaizi Mohd Yunos as chief risk officer, Shafik Azlee Mashar as chief internal auditor, Mazlan Tuhiman as chief information officer and Farid Basir as chief human resources officer.
The appointments come as Cahya Maya seeks to strengthen its governance framework ahead of its planned expansion into the renewable energy sector. The company’s CEO, Datuk Dr. Siti Aisha, said the new leadership would “drive operational excellence and support our growth strategy.”
Farlim Group (M) Bhd is launching a RM160 million commercial project in Penang through a new joint venture. The project targets demand along the state’s growing transit corridor and will include a mixed‑use development with retail, office and residential components.
The joint venture will be led by Farlim’s senior executive, Dato’ Sri Mohd Faizal. The project is expected to create 350 jobs and boost local economic activity in the Penang region.
Across the market, investors are watching how the DNB acquisition will affect the financial health of CelcomDigi, Maxis and YTL Power. Analysts note that the companies will need to manage the increased debt load while maintaining their capital expenditure plans for network upgrades and power generation projects.
The broader Malaysian economy stands to benefit from these corporate moves. The telecom and power sectors are key pillars of the country’s digital and energy infrastructure, and their continued investment will support Malaysia’s Vision 2030 goals. The maritime and construction projects will also contribute to job creation and supply chain development.
As the companies navigate the next quarter, market participants will focus on their earnings releases and any updates on regulatory approvals. The outcomes of the Genting New York licence and the Prasarana rail contract will also be closely monitored for their impact on the respective sectors.
In sum, the week’s corporate announcements signal a period of strategic expansion and consolidation across Malaysia’s telecom, power, maritime, construction, gaming, rail and real estate sectors. The moves are expected to strengthen the companies’ balance sheets, broaden their service offerings and support Malaysia’s broader economic development objectives.
Related: CelcomDigi Bhd · Ministry of Finance · Petaling Jaya