RAMSSOL GROUP BERHAD — M&A Activity 2026

Jun 2, 2026

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RAMSSOL ANNOUNCES STRATEGIC ACQUISITIONS TO BOOST HUMAN CAPITAL TECHNOLOGY ECOSYSTEM

CYBERJAYA, 3 June 2026 - Ramssol Group Berhad ("Ramssol" or the "Group"), a leading people solutions and licensing technology provider, today announced the proposed acquisitions of 60% equity interest in INNIO Holding Sdn Bhd ("INNIO"), the holding company of INNIO Group Sdn Bhd and CariJob Holding Sdn Bhd, and 49% equity interest in Agensi Pekerjaan INNIO Sdn Bhd ("API") for an aggregate purchase consideration of RM14.4 million, to be satisfied in both cash and the issuance of new shares of Ramssol.

The acquiree companies provide licensed talent sourcing, recruitment and manpower outsourcing capabilities that complement Ramssol's existing PeopleTech and digital human resources ("HR") capabilities. The proposed acquisitions will strengthen and complete the Group's human capital ecosystem, positioning Ramssol as a fully integrated workforce solutions provider, spanning talent sourcing, recruitment, manpower outsourcing, payroll, earned wage access, upskilling, and AI-enabled workforce analytics.

The deal comes with profit guarantee of RM3.0 million for the financial year ending 31 December ("FYE") 2026 and RM5.0 million for FYE 2027, representing a strong 67% year-on-year growth trajectory and bringing the cumulative guaranteed profits to RM8.0 million over the two year period. This is underpinned by a healthy RM39.3 million outstanding order book. Based on the average profit guarantee, the acquisitions are priced at an implied price-to-earnings multiple of 6 times.

Commenting on the proposed acquisitions, Datuk Wira Ts. Clément Tan, Group Managing Director of Ramssol, said: "The acquisitions mark a milestone in Ramssol's evolution as we accelerate beyond our PeopleTech roots into a fully integrated, technology driven human capital ecosystem. Over the years, we have built strong capabilities in digital HR solutions, automation, HCM, workforce digitalisation, and AI-powered technologies. With the addition of INNIO and API into our Group, we are now expanding our reach across the entire workforce value chain to include talent sourcing and recruitment to manpower outsourcing using AI-powered workforce analytics."

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"What makes this particularly exciting is the immediate ability to unlock meaningful cross-selling and monetisation opportunities across the acquirees' sizeable workforce base by significantly shortening our time-to-market. Through our solutions such as earned wage access (PaydayNow) and upskilling and compliance (EnGo), we will be able to expand wallet share and accelerate the growth of our recurring income streams across a much larger ecosystem."

"Our pilot programme for PaydayNow has demonstrated strong take up rates, reinforcing our confidence that the market is increasingly demanding earned wage access solutions and validating the strong potential of the platform. We will soon be officially launching PaydayNow, in partnership with an established banking institution. This solution will address the growing demand among wage earners for greater financial flexibility and accessibility."

"Backed by years of presence within the HCM industry, our market intelligence points towards strong and rising demand for both local and foreign workforce, in Malaysia and across the region. The acquisitions are a strategic step towards building a next generation human capital infrastructure platform that is scalable, data driven, AI-enabled and deeply integrated across the entire workforce value chain. It positions the Group to capture the opportunities for integrated workforce solutions in Malaysia while creating a strong foundation for expansion across Southeast Asia."

Datuk Wira Ts. Clement Tan, Group Managing Director / Chief Executive Officer of Ramssol, and Mr Kong Chin Meng, Founder & Chief Executive Officer of INNIO Holding Sdn Bhd, at the signing ceremony for the proposed acquisitions held today

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ABOUT RAMSSOL GROUP BERHAD

Ramssol Group Berhad ("Ramssol" or the "Group") is a homegrown digital solutions provider specialising in human capital management (HCM) and workplace technology. Firmly believing in delivering excellent People Solution, the Group is continuously innovating to create, develop and share that empower organisations with the right tools to drive their daily operations.

With a deep understanding of people management and market-specific needs, Ramssol offers a comprehensive suite of digital platforms and services designed to enhance employee engagement, improve productivity, and support digital transformation journeys.

The Group has growing presence across Southeast Asia including Malaysia, Singapore, Thailand, Vietnam, and Indonesia. Driven by a future-focused mindset, Ramssol continues to expand its portfolio into areas such as artificial intelligence, Earned Wage Access (EWA), and digital workforce solutions, advancing the future of work across the region.

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