Amova Asset Management has agreed to acquire a controlling stake in AHAM Asset Management, raising its ownership to 97.7%, to enhance its presence in the Malaysian asset management market.

Information on the Target

Amova Asset Management Co., Ltd. (formerly known as Nikko Asset Management Co., Ltd., hereinafter referred to as "Amova AM") has signed a conditional share purchase agreement to acquire a controlling interest in AHAM Asset Management Berhad ("AHAM Capital"). This acquisition will increase Amova AM's ownership from 20% to 97.7%, pending regulatory approvals and customary closing conditions. Established in 2001, AHAM Capital, along with its wholly-owned Islamic fund management subsidiary, AIIMAN Asset Management Sdn. Bhd., has surpassed RM100 billion in assets under management ("AUM") as of November 30, 2025. AHAM Capital serves a diverse client base that includes retail and mass affluent investors, government-linked companies, corporate clients, and institutional investors, making it one of the top three asset managers in Malaysia.

Industry Overview in Malaysia

The asset management industry in Malaysia has shown significant growth over the past years, driven by increasing demand for investment products tailored for local preferences. The robust regulatory framework and the presence of vital investment vehicles have provided a conducive environment for both domestic and foreign asset managers. Malaysia's diverse economy and commitment to Islamic finance further enhance its attractiveness as a destination for asset management activities.

Moreover, Malaysia is strategically positioned in Southeast Asia, offering asset managers access to a growing pool of capital and investment opportunities throughout the region. The gove