At the signing of the funding agreement, 28 October 2026. Crewstone International (From the left): Keng Fai Wong, CEO (3rd) and John Choy, Director Investor & Client Coverage (5th)GoodMorning Global (From the left): Lim Wui Ling, Group Public Relations (1st), Datuk Loh Saw Foong (2nd), Professor Dato’ Dr Lim Sin Boon, Group Executive Chairman (4th), Professor Dr Charles Cheng Fang Chin, CEO (6th)

KUALA LUMPUR, November 13, 2026 – Crewstone International Sdn Bhd (“Crewstone”), a private equity firm registered with the Securities Commission Malaysia, has completed its funding for GoodMorning Global Sdn Bhd (“GoodMorning Global”), complementing the company’s RM20 million equity crowdfunding campaign, to support its growth and pave the way for its IPO.

GoodMorning Group is poised to make healthy nutrition accessible and affordable to all, leveraging its vertically integrated biotechnology, manufacturing and FMCG distribution ecosystem to scale innovative, science-driven nutritional solutions across global markets. Founded in 2008 by its Group Executive Chairman, Professor Dato’ Dr Lim Sin Boon, GoodMorning Global is recognised by the Malaysia Book of Records as the largest multigrain-based product company. In July 2023, its successful equity crowdfunding campaign attracted 1,046 investors and raised RM20 million, making it Malaysia’s largest equity crowdfunding campaign by funds raised at the time. Building on years of research and innovation in biotechnology, its subsidiary, GoodMorning Bio Industries Sdn Bhd, became Malaysia’s first multigrain-based company to obtain BioNexus status, marking a significant milestone in the Group’s transformation from a multigrain nutrition business into a biotechnology-driven nutrition enterprise.

Since FY2021, GoodMorning Global has earned more than RM150 million in revenue, and its annual revenue grew 2.7x from RM21.6 million to RM58.7 million in FY2024, a compound annual growth rate of 39.5%. Gross profit grew faster, increasing 3.5x from RM7.5 million to RM26.7 million between FY2021 and FY2024 at a gross margin of about 45%. In the 18 months to June 2026, revenue reached RM74.4 million, according to GoodMorning Global. Over the same audited FY2021 to FY2024 period, total assets expanded 3.5x from RM24.4 million to RM84.7 million, equivalent to approximately 51.5% CAGR, reflecting the expansion of GoodMorning Global’s balance sheet.

GoodMorning Global provides global corporate clients with one-stop OEM, ODM and CM solutions, alongside a portfolio of approximately 100 own-brand products spanning GoodMorning 18 Multigrains beverages—including VGrains, GSure, VPlus, VKids, VPea Protein, GMWell supplements, Ready-to-Drinks and coffees. GSure and VGrains each generated more than RM7 million in revenue during the 18-month period ended June 2026. The Group manufactures its products at its own facility, operated by its BioNexus status subsidiary and supported by FSSC 22000 certification and amfori BSCI social compliance audits, and distributes them through its online stores, distribution partners and established pharmacy chains, including Sunway Multicare Pharmacy, CARiNG Pharmacy, Guardian, Watsons, among others.

Crewstone backed GoodMorning Global because its growth is already proven: revenue rose 171% in three years, gross margin held at about 45%, and its brands sit on the shelves of national pharmacy chains. Crewstone raised the funding from its network of family offices. Their appetite reflects a wider shift: BlackRock’s 2025 Global Family Office Survey found that 32% of family offices plan to increase their private credit allocation.

“We invest in operators with demand they can already show. GoodMorning Global has built household brands and the margins to fund their next stage, and we want to stand with it on the road to a public listing,” said Keng Fai Wong, Chief Executive Officer of Crewstone.

The market behind that growth is widening. McKinsey values the global consumer wellness market at US$1.8 trillion a year and Boston Consulting Group and Blue Horizon expect alternative proteins to be worth at least US$290 billion by 2035. In Malaysia, consumers trust offline providers such as pharmacies well above digital players, according to Bain & Company’s Asia-Pacific Front Line of Healthcare 2024 survey. In alignment with Malaysia's National Biotechnology Policy 2.0 (NBP 2.0), which emphasises biotechnology innovation, commercialisation and the development of high-value industries, GoodMorning Global is extending from multigrain beverages into biotech and science-led nutrition, including plant-based protein and nature-based nutrients, and plans to grow in Southeast Asia, the Middle East and beyond.

“We continue strengthening our business fundamentals, accelerating commercial expansion, advancing biotechnology excellence, and building a capital-market-ready enterprise, with a future public listing in view. Crewstone’s investment is a strong endorsement of our transformation into a biotechnology-driven FMCG group,” said Professor Dr Charles Cheng Fang Chin, GoodMorning Global’s spokesperson.

About Crewstone International Sdn Bhd

Founded in 2011, Crewstone is a private equity and investment management firm registered with the Securities Commission Malaysia (Registration No. VCPE/0099/2023), and a fund manager appointed under Dana Penjana Nasional, the national fund-of-funds programme. It raises capital for growing companies, structures dedicated funds and invests alongside its investors, across private equity, private credit and cross-border strategies. It has expanded into the United States and the United Arab Emirates.

About GoodMorning Global Sdn Bhd

GoodMorning Global (Registration No. 200801024769 (826093-W)) is a Malaysian nutrition company founded in 2008 by Professor Dato’ Dr Lim Sin Boon, with a mission to make healthy nutrition affordable and accessible to all. Known for its multigrain-based products, including its signature 18 Multigrains range, the Group is expanding into a biotechnology-driven enterprise that integrates research, product development, manufacturing and distribution. Through its subsidiary, GoodMorning Bio Industries, a BioNexus Status Company, the Group is advancing bio-fermentation, extraction and active ingredient innovation to enhance the nutritional value of its products and promote affordable and accessible nutrition in Malaysia and beyond.

Figures on GoodMorning Global's history, revenue, margin, fundraising, valuation and projections are provided by GoodMorning Global. Its listing plans and projections are its own, are forward-looking and are subject to approvals and market conditions. Actual results may differ.

Media Contacts

Crewstone International Sdn Bhd

Keng Fai Wong, Chief Executive Officer | kfwong@crewstoneinternational.com

Ong Jing Jie, Senior Manager, Investments | jingjie@crewstoneinternational.com

GoodMorning Global Sdn Bhd

Lim Wui Ling, Public Relations | wuiling@goodmorning.com.my