Treasure Global Signs MOU for US$38 Million Acquisition of 51% Controlling Stake in Smart Water Metering Company

KUALA LUMPUR, Malaysia, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Southeast Asia–anchored technology company focused on AI-powered enterprise solutions and digital transformation, today announced that it has signed a non-binding memorandum of understanding (“MOU”) with Mestiz Holding Berhad (“MHB”) for the proposed US$38 million cash acquisition of a 51% controlling interest in Mestiz Century Logic Sdn Bhd (“MCL”), a Malaysia-based provider of cloud-based smart water metering technology and digital water management solutions.

Under the MOU, MHB has granted Treasure Global a 120-day exclusivity period to conduct due diligence on MCL and negotiate the terms of a definitive agreement. Completion of the proposed acquisition remains subject to the execution of a definitive agreement and customary closing conditions, including satisfactory completion of due diligence and receipt of required regulatory and board approvals.