RNG Tech Bhd, the operator of the “Rest N Go” vending massage chair network, expects Thailand to emerge as a key driver of the company’s next phase of regional growth, with the wellness vending operator planning to deploy 1,570 new self-service massage chairs across five ASEAN markets over the next three years following its upcoming Bursa Malaysia listing.
The company currently operates 5,611 vending massage chairs across Malaysia, Singapore, Thailand, Cambodia and Brunei, with a further 2,458 chairs deployed in Vietnam and the Philippines under licensing arrangements.
Managing Director Datin Sophia Tan Sok Fei said the company will roll out 1,120 new massage chairs across Malaysia while adding another 450 units in Singapore, Thailand, Cambodia and Brunei, with Thailand accounting for the largest overseas expansion at 200 new chairs.
“Thailand has emerged as a key growth market. Following our successful entry into Lotus’s and Big C last year, Thailand contributed meaningfully to our first-quarter FY26 results, and we see it continuing to be one of our key growth engines going forward,” she told BusinessToday in an exclusive email interview.
Scaling Regional Presence
Thus, Tan said RNG Tech’s immediate priority is to deepen its presence in markets where it already operates rather than expanding into new geographies.
“Our immediate priority is to deepen our presence in markets where we already have an established footprint before pursuing new geographies. We believe in executing well in existing markets before stretching resources thin across new ones,” she said.
Nevertheless, she emphasised that Malaysia remains the company’s largest market, with plans to expand into more high-footfall locations including shopping malls, transportation hubs, highway rest stops and entertainment venues.
She shared that the domestic expansion is expected to cost RM15.2 million, with RM4.9 million funded through IPO proceeds and the remaining RM10.3 million financed via internally generated funds and bank borrowings.
“The overseas rollout, meanwhile, will be funded entirely through internal funds and borrowings,” she said.
Asset-Light Overseas Strategy
While expanding its directly owned operations, she revealed that RNG Tech intends to maintain its asset-light licensing model in Vietnam and the Philippines, where local partners operate the business while the company earns royalty income.
Tan explained that this approach enables the company to grow its regional footprint without significant capital commitments while leveraging trusted local partners to maintain operational standards.
“At this stage, we do not have immediate plans to transition these markets into directly operated businesses. The licensing model remains our preferred approach for markets where trusted local partners can effectively replicate our operational standards,” she said.
Beyond expanding its network, Tan highlighted that the company is also allocating RM2.2 million from its IPO proceeds to refurbish and upgrade existing “Rest N Go” stations and premium outlets by replacing older massage chairs, installing translucent privacy dividers and improving the overall ambience.
“These upgrades are expected to improve customer experience, increase utilisation rates and encourage repeat usage,” she said, while stating that the company has also earmarked RM1 million for marketing initiatives, including digital advertising, search engine optimisation, influencer collaborations and in-store promotional campaigns to attract new users and convert foot traffic into paying customers.
Focused on Long-Term Growth
Looking beyond its listing, Tan said RNG Tech will prioritise executing its expansion plans while remaining open to strategic partnerships and technology adoption that enhance operational efficiency and customer experience.
She added that any acquisitions or expansion into adjacent wellness or automated retail segments would only be pursued if they are strategically aligned and value-accretive.
The company’s promoters and substantial shareholders are expected to retain more than a 70% stake after listing, underscoring management’s long-term commitment and confidence in RNG Tech’s future growth.
As RNG Tech heads into its listing, it does so with a clear ASEAN expansion plan, disciplined funding structure and Thailand emerging as a key growth driver. Anchored by Malaysia and an expanding regional footprint, the company is banking on scale and higher utilisation to power its next phase of growth, with management’s majority stake underscoring long-term commitment.
RNG Tech is expected to be listed on the ACE Market of Bursa Malaysia on July 7, 2026, with the company’s IPO entails the issuance of 126.1 million new shares and an offer for sale of 78.8 million existing shares. M&A Securities Sdn Bhd is the advisor, sponsor, underwriter and placement agent for the IPO exercise.
