KUALA LUMPUR (Sept 14): Travel agency Yes Group Management Bhd said on Monday it has secured approval for its ACE Market listing.

Timeline for the initial public offering (IPO) was not disclosed in the statement announcing the approval, though a company would have six months from Bursa Malaysia’s greenlight to complete the listing.

“This is a meaningful step forward for Yes Group as we continue to build on our track record in delivering customised incentive travel and event solutions for corporate customers,” said managing director Angela Mak Shau Kwan.

Yes Group mainly serves corporate clients in various industries and provides customised incentive travel and event planning services.

The company also holds a licence under the Malaysia My Second Home (MM2H) programme — a long-term residency scheme administered by the Securities Commission Malaysia that allows foreigners to reside in Malaysia under certain financial and eligibility criteria.

Mak, 41, founded Yes Group less than two decades ago, and the company made a net profit of RM7 million on revenue of RM75 million for the financial year ended June 30, 2025.

“The proposed listing will provide us with a stronger platform to enhance our visibility, expand our capabilities and pursue our next phase of growth,” she said.

Proceeds from the IPO have been earmarked for the expansion of ground transportation services in Europe and the establishment of a regional office in the UK and the establishment of Yes Academy to develop tour leaders and tour managers.

The rest will go towards general working capital and to cover estimated listing expenses.

The IPO also includes an offer for sale of existing shares by Mak, which will cut her stake to 74% from 100% pre-IPO.

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.