Shuangdeng to Form Wholly-Owned Malaysian Unit for Lithium-ion Battery Plant

Bulletin Express03-31

Shuangdeng Group Co., Ltd. announced board approval to set up a wholly-owned subsidiary in Malaysia, positioning the new entity as the Group’s principal operating arm in the country. The move aligns with the company’s previously disclosed plan—outlined in its August 2025 prospectus—to build a lithium-ion battery production facility in Southeast Asia.

The Group is currently assessing suitable sites and equipment for the Malaysian plant and must complete all relevant domestic and overseas filing and approval procedures before commencement. As of 31 March 2026, no IPO proceeds have been allocated to the Southeast Asian project.

Management cited strong regional fundamentals as the strategic rationale. Southeast Asian GDP expanded at a 6.90% CAGR between 2020 and 2024 and is forecast to rise from USD3.50 trillion in 2025 to USD4.60 trillion by 2029, implying a 6.80% CAGR. Rising population and expenditures are driving demand for energy-storage batteries, while Malaysia offers comparatively lower labour and logistics costs.

The board believes the Malaysian subsidiary will broaden Shuangdeng’s industrial footprint, enhance cost competitiveness and support long-term growth objectives. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

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