(L-R): Mr. Too Wai Loon (涂伟伦), Executive Director of Yes Group Management Berhad; Ms. Angela Mak Shau Kwan (麦秀君), Managing Director of Yes Group Management Berhad; Ms. Lim Chia Wei (林嘉薇), Managing Director of Malacca Securities Sdn. Bhd.; and Mr. Jason Chan (陈启乐), Co-Head of Corporate Finance, Malacca Securities Sdn. Bhd.

KUALA LUMPUR, 22 SEPTEMBER 2026 — Yes Group Management Berhad (“Yes Group”), the operator behind the established “Yes Travel” brand and a specialist in Meetings, Incentives, Conferences, and Exhibitions (MICE) solutions, has signed an underwriting agreement with Malacca Securities Sdn. Bhd. in preparation for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad. Under the agreement, Malacca Securities will underwrite a total of 31.80 million new ordinary shares, comprising 26.50 million shares made available to the Malaysian public and 5.30 million shares allocated to eligible directors, employees, and persons who have contributed to the group’s success via Pink Form allocations.

The upcoming IPO exercise involves a total offering of 137.80 million shares, consisting of a public issue of 91.87 million new shares and an offer for sale of 45.93 million existing shares. Beyond the retail tranche, the public issue includes 60.07 million shares (11.33% of the enlarged share base) reserved for private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI). Concurrently, the offer for sale encompasses 6.18 million shares designated for MITI-approved Bumiputera investors, alongside 39.75 million shares earmarked for private placement to selected investors. Malacca Securities acts as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for the entire listing exercise.

Financially, Yes Group enters the listing process backed by solid operational momentum. The company demonstrated marked financial growth between FYE 2023 and FYE 2025, with revenue surging 82.4% from RM41.39 million to RM75.47 million. Profit after tax (PAT) rose 43.0% over the same period, climbing from RM5.13 million to RM7.34 million. This track record is further underpinned by robust corporate appetite for customized incentive travel, regional air connectivity, and national initiatives promoting Malaysia as a premier business events destination.

Commenting on the milestone, Managing Director of Yes Group, Ms. Angela Mak Shau Kwan, noted that the underwriting signing marks significant progress toward becoming a publicly listed entity, allowing the company to fortify its footprint in corporate incentive travel and scale capabilities for long-term growth. Echoing this outlook, Malacca Securities Managing Director Ms. Lim Chia Wei highlighted that the IPO will grant Yes Group enhanced market visibility and capital flexibility to execute its end-to-end service expansion and capture expanding opportunities across the regional MICE landscape.