KUALA LUMPUR: Shifts in the nation’s demographic, life expectancy, family support structures and healthcare costs are making the need for retirement planning expertise increasingly crucial in the coming decade, says managing director and founder of Whitman Holdings Bhd Yap Ming Hui.
“Malaysia is becoming an ageing society and we need to prepare ourselves well,” Yap told a press conference following Whitman’s listing on the LEAP Market of Bursa Malaysia here yesterday.
He added that many Malaysians operated under an often-false assumption that the Employees Provident Fund would be sufficient for their retirement.
“The money will typically not be enough and people need to be aware of this fact so that they become more proactive when it comes to retirement planning.
“More education, as well as having a licensed financial adviser are equally important to help individuals make the right financial decisions.”
Whitman is principally involved in the provision of holistic financial planning solutions with a focus on retirement advisory.
Its advisory and consultation services, offered through its wholly-owned subsidiary, Whitman Independent Advisors Sdn Bhd, include unit trust schemes and private retirement schemes, as well as complementary insurance consulting and will-writing services.
Whitman made a solid debut, opening at 12.5 sen, which represents a 25% premium from its issue price of 10 sen per share.
At 5pm, the company closed up 50%, or five sen to 15 sen with 60,000 shares traded.
The company entered the LEAP Market with a market capitalisation of RM20mil, based on an enlarged issued share capital of 200 million ordinary shares.
The listing was implemented by way of introduction and did not involve any fund-raising exercise.
Prior to the listing, on Dec 18, 2025, the company completed a private placement of 24.3 million new shares at 10 sen per share, raising gross proceeds of RM2.43mil.
Yap said the company planned to put its funds towards the renovation of its new office to house more employees, recruiting talent to support its operations and service, and enhancing its marketing, branding and awareness efforts.
“Our next chapter will focus on strengthening our advisory framework through artificial intelligence (AI) technology, developing the next generation of retirement advisers, expanding structured retirement solutions for small and medium enterprises and professionals, and elevating retirement literacy nationwide,” he said.
“We seek to attract like-minded advisers who share our mission to come and grow together with us,” he added.
The company planned to be a shaping force in the nation’s retirement advisory landscape moving forward.
“Listing subjects us to greater transparency, higher accountability, stronger governance. We welcome that, because trust is the currency of our industry,” Yap said.
On the prospects of the financial planning and advisory industry, he opines that the market is growing as the number of working adults in Malaysia is rising.
“Despite this, the product design in financial services offered today is still very fragmented,” he said.
Whitman aimed to play a key role in bridging this structural gap in the industry through its integrated retirement advisory solution framework.
“Retirement solutions must bring together retirement planning, retirement funding, retirement income management and retirement legacy planning into one coherent system,” he said.
“I believe there is a lot to be done and I hope that my peers in the financial advisory industry can join forces to help the country address its retirement concerns more effectively.”
Yap hoped more financial advisory firms would aspire to join the LEAP Market, raising the visibility of the industry as a whole and drawing more talent to financial planning careers.
“Our ambition is clear – to strengthen our foundations, scale responsibly, and, when ready, stand confidently among larger financial institutions within Malaysia’s capital market,” he said.
WYNCORP Advisory Sdn Bhd is the approved adviser and continuing adviser for the listing exercise.
