Signing ceremony commemorating a RM12 million strategic investment between Crewstone International and MGold & Bullions Sdn Bhd.
Private equity and private credit manager Crewstone International Sdn Bhd has invested an initial RM12 million in gold retailer and trading platform MGold and Bullions (MGold), marking the first tranche of a broader RM50 million growth programme aimed at accelerating the company's regional expansion and preparing it for a potential IPO within five years.
The investment comes as Crewstone takes a bullish view on the gold sector, supported by strong global demand, rising prices and increasing investor interest in safe-haven assets amid ongoing economic uncertainty.
Founded in 2017, MGold has grown into a multi-channel gold business serving more than 100 business customers across Malaysia and Singapore. The company generated approximately RM115 million in revenue in 2025, with operations spanning wholesale, retail, gold bullion, jewellery and used gold trading.
MGold expects revenue to climb to RM165 million in 2026, representing projected growth of 43%, driven by wholesale expansion, retail growth, its Singapore operations and the rollout of new digital platforms.
Crewstone Chief Executive Officer Keng Fai Wong said the investment is designed to provide more than capital, supporting MGold's institutional development, operational discipline and long-term scalability as it works towards becoming a publicly listed company.
The firm's confidence in the sector comes against a backdrop of record global gold demand exceeding 5,000 tonnes in 2025, while gold prices reached 53 all-time highs during the year and averaged US$3,431 per ounce, up 44% year-on-year.
As part of its next growth phase, MGold plans to launch a technology-enabled digital gold platform in the third quarter of 2026, followed by a direct-to-consumer jewellery e-commerce platform with global shipping capabilities later in the year.
Chief Executive Officer Sharrvindren Alagendran said the company is focused on translating the investment into disciplined growth across operations, sourcing, product development, digital channels and regional expansion.
Overall, Keng said the investment underscores growing investor appetite for businesses that can capitalise on favourable gold market dynamics through execution, merchandising and distribution rather than relying solely on commodity price appreciation.
