KUALA LUMPUR: RNG Tech Bhd plans to strengthen its presence in the domestic market by making its self-service massage chairs more accessible in even more locations.
At the moment, the operator of the “Rest N Go” brand of vending massage chair services owns and operates 5,611 vending massage chairs across 1,438 RNG stations and RNG premium outlets in Malaysia, Singapore, Thailand, Cambodia and Brunei.
The group has a further 2,458 chairs in Vietnam and the Philippines that operate under a licensing arrangement through Health Land Viet Nam and Odyssey World Philippines.
RNG Tech is the largest vending massage chair operator in Malaysia by revenue, holding a 66.2% market share last year.
Executive director and chief financial officer Gary Shin Kok Leong said the group is currently identifying new locations with heavy foot traffic to go into.
These include airports, shopping malls, bus and train terminals, as well as highway rest stops.
“In the next three years, RNG Tech wants to add 1,200 more massage chairs to its Malaysian market. The local market contributed RM52.7mil to our financial year 2025 revenue, which is about 70.8%,” he said at the group’s prospectus launch here yesterday.
As for the other countries, Shin said they will continue their expansion plans to bring in 450 new massage chairs. “We will refurbish and upgrade the massage chairs, while improving the area so it is more private. There will also be newer models going in to replace the old ones,” he said.
Shin added that there are no plans to venture into a new country at the moment.
As for whether the group is looking at any mergers and acquisitions with wellness centres or spas, Shin told StarBiz this is not in the pipeline for the company.
“We operate quite differently from places like that. For now, we are content with focusing on doing what we are good at, which is providing people a break or rest from their hectic lives no matter where they are.”
He also said the group has been minimally impacted by the ongoing global uncertainties. “Why we chose to list right now is because we feel it is time for us to move on to the next level. After recovering from the Covid-19 pandemic, we saw strong growth in 2024 and 2025.
“Our listing plans did not need to consider the global environment, but it was more of how we can plan internally. We saw that this was the right time,” he said.
Meanwhile, RNG Tech aims to raise RM16.4mil from its initial public offering (IPO) at 13 sen per share.
Upon listing on the ACE Market of Bursa Malaysia on July 7, 2026, the group is expected to have a market capitalisation of RM102.4mil. The IPO exercise entails a public issue of 126.1 million new ordinary shares, while the offer for sale consists of 78.8 million existing shares.
Of the RM16.4mil raised, 29.9% of proceeds from the public issue will be used to set up new stations and premium outlets, 13.3% will be allocated to refurbishing and upgrading existing outlets, and 18.3% is earmarked to repay borrowings.
Another RM4.2mil is allocated for listing expenses, while the remainder is for marketing expenses and working capital.
M&A Securities Sdn Bhd is the adviser, sponsor, underwriter and placement agent for the IPO. Separately, the group registered a revenue of RM16.9mil for the first quarter ended March 31, 2026, and a net profit of RM3.4mil.
Shin said earnings in 2025 were lower than the year before due to its regional expansion, which required up-front heavy capital investment.
“Going into Brunei, Thailand and Cambodia incurred some losses, but we are positive on the trajectory in those countries,” he noted. On its planned 30% dividend policy, Shin said the group remains committed to fulfilling that regardless of what its earnings might look like.
