229 Capital L.P. (“229 Capital”), a licensed Labuan fund specializing in IPO and capital market advisory, today announced the signing of a Memorandum of Understanding (MoU) with Permodalan Kedah Berhad (PKB), a Kedah State Government-Linked Company. The MoU, signed on 10 September 2025, marks a strategic collaboration to strengthen IPO readiness and unlock cross-border opportunities for Malaysian businesses.
The partnership will combine PKB’s strong client network and state-level reach with 229 Capital’s proven expertise in structuring and executing IPOs on global exchanges such as the Nasdaq Stock Market and the New York Stock Exchange (NYSE).
The collaboration is designed to:
dentify and prepare high-potential companies in PKB’s network for IPOs in the U.S. and other international markets.
Leverage 229 Capital’s end-to-end IPO advisory, including deal structuring, regulatory coordination, and investor engagement.
Connect international investors to investment opportunities in Malaysia.
Strengthen Kedah’s role as a hub for capital market growth and global expansion.
Ming Wong, General Partner of 229 Capital, said:
“This partnership with PKB reflects our vision to transform Malaysian businesses into globally listed champions. By combining PKB’s local reach with our IPO execution expertise, we are opening the door for more Malaysian companies to step onto the world stage.”
Mohd Azad Bin Jasmi, Group Chief Executive Officer of PKB, added:
“PKB is committed to fostering growth for Kedah and Malaysian companies. Through this collaboration with 229 Capital, we can create new opportunities for local businesses to access international capital markets, scale globally, and attract foreign investment.”
This alliance underscores both parties’ commitment to building a pipeline of IPO-ready companies and strengthening Malaysia’s role in the global capital markets.
Copyright from : MalaysiaKini
