Japan’s Miyu Yamashita takes a selfie with the Tiger Head trophy on the green following her victory at the LPGA Tour Maybank Championship 2026 at the Kuala Lumpur Golf & Country Club on Sunday (Nov 1, 2026). -- Photo: Bernama
KUALA LUMPUR: Japan's Miyu Yamashita successfully defended her Maybank Championship title after carding a four-under 68 in the final round to secure a two-stroke victory at the Kuala Lumpur Golf and Country Club (KLGCC) here today.
The world number four sank five birdies at the third, fifth, eighth, 11th and 18th holes, with her only bogey coming at the ninth, to finish with a four-day total of 22-under 266, two strokes ahead of China's Yan Liu.
Yamashita, who entered the final round with a two-stroke advantage, opened her campaign with a seven-under 65 on Thursday, followed by rounds of six under 66 and five under 67 before closing with a four under 68 today to secure her second consecutive Maybank Championship title.
Speaking to reporters after her victory, Yamashita said maintaining her focus throughout the final round had helped her deliver another strong performance at KLGCC.
"I'm just really happy to have won the title, and I honestly didn't expect to be able to win the tournament two years in a row. So, I just focused on playing each hole," she said.
Meanwhile, Yan Liu finished as runner-up after carding a four-under 68 in the final round for a four-day total of 20-under 268.
The Chinese golfer, who began her campaign with three under 69 and four under 68, produced an impressive nine-under 63 in the third round yesterday before closing with another four under 68 today.
Thailand's amateur golfer Marisa Tojai and France's Pauline Roussin-Bouchard shared third place after finishing four-day totals of 19-under 269.
Marisa, who recorded par 72, five under 67 in second and third round signed off with a five-under 67 today, while Roussin-Bouchard carded a three-under 69 in the final round after earlier rounds of eight under 64, three under 69 and five under 67.
The Maybank Championship offered a total prize money of USD3 million (RM12,174,600), with the first prize winner, Yamashita pocketing USD450,000 (RM1,826,190), second placed Yan Liu USD275,721 (RM 1,118,930.96), while joint third-place winner Roussin-Bouchard took home USD200,016 (RM811,704.93). --
Liyana Durisic knocks her ball onto the 18th green in the first round of the Maybank Championship on Thursday to finish the day in a tie for fourth and as the top Malaysian on the leaderboard. — Bernama
The victory of Miyu Yamashita, a Japanese golfer, secured her a historic back-to-back win and a $450,000 prize.
AS one of Malaysia’s premier sporting events, the Maybank Championship has rapidly established itself as a standout fixture on the LPGA Tour calendar, attracting the world’s best players while providing a valuable platform for the nation’s top golfing talent to compete against the game’s elite.
Returning to the West Course at Kuala Lumpur Golf & Country Club this week, the US$3mil tournament brings together an exceptional international field featuring some of the highest-ranked players in the Rolex Women’s World Golf Rankings.
The championship has become one of South-East Asia’s most prestigious golf events, combining world-class competition with fan engagement, entertainment, hospitality experiences and unique opportunities for Malaysian golfers to measure themselves against the very best in the sport.
This year, local interest is stronger than ever, with five Malaysian players earning places in the field.
She is joined by LPGA rookie Natasha Oon, in-form Liyana Durisic, who was tied for fourth place after the first round on Thursday, former LPGA Tour regular Kelly Tan, and Genevieve Ling, giving home fans plenty to cheer throughout the week.
For many, the greater interest will centre on Mirabel and how she fares. Her rise has been one of Malaysian golf’s biggest success stories in 2026.
The Sarawakian secured LPGA Tour status for next season after a breakthrough campaign on the Epson Tour, where she won twice and consistently featured among the circuit’s top performers.
Her achievements culminated in finishing atop the Epson Tour season standings, a feat that earned promotion to the LPGA Tour while cementing her reputation as one of Asia’s brightest emerging talents.
The Maybank Championship therefore serves as something of a dress rehearsal for the 21-year-old as she prepares to take on the world’s best full-time next season.
Competing against a field packed with LPGA winners and major champions offers an ideal opportunity to test her game ahead of golf’s biggest stage.
Natasha also gained valuable LPGA Tour experience this year, including a tied-31st finish at the CPKC Women’s Open.
Meanwhile, Liyana, who arrive with momentum following several domestic victories and a win in Australia, and Kelly and Genevieve add further depth to a strong Malaysian contingent.
Beyond the local storylines, fans will be enjoying a festival atmosphere around one of the LPGA Tour’s showcase events. With global stars competing for one of the largest purses in women’s golf, championship hospitality, family-friendly activities and entertainment throughout tournament week, the Maybank Championship continues to elevate Malaysia’s standing as a destination for world-class sporting events.
For one week in the year, Kuala Lumpur becomes the focal point of women’s golf, showcasing not only the sport’s biggest names but also the next generation of Malaysian players hoping to leave their mark on the international stage.
Discover Penang Golf Club, the island's sole championship 18-hole golf course, boasting rolling fairways and manicured greens. The course featuring Bermuda ...
MST Golf's is a one-of-a-kind listing and therefore would enjoy a scarcity premium.
THERE is a joke in the golfing community, ask a man to wake up before sunrise, there will be a million excuses.
Ask a man to tee off at dawn, he will be right on time. In the years I have played the game, I have witnessed the laziest people putting the utmost effort into improving their golf swing.
The amount of money spent on equipment, coaching, practice rounds in the driving range, club membership fees, travel and flight expenses to overseas golfing trips is mind-boggling.
This sport is by no means cheap and compared to other equipment sports like ping pong, it is incomparable.
However, once you start the game, you will be hooked for life. Every single round of golf is different.
The experience of playing with different people and courses makes it even more interesting.
So, what has all this got to do with business or the stock market?
Well, we have a highly anticipated
Main Market initial public offering (IPO) coming soon, which is the MST Golf Group Bhd listing.
For those who play the game, MST is a household name for golfers. It has been around for as long as I was born.
Over the years, MST has grown from a single retail store to controlling more than 51% of the local golf equipment retail and distribution market in Malaysia.
It is also the second largest golf retailer in Singapore. Although some older establishments such as RGT Golf, Desa Golf House, Transview Golf and others still exist in the market, none of them have seen the growth rate and expansion the way MST has done through the years.
A game of passion
Golf as a sport has been growing tremendously in the past century since its founding in Scotland in the 1860s. Today, there are over 80 million golfers and 30,000 golf courses globally.
The United States, Japan and South Korea are the top three countries which dominate global golf participation.
Based on the World Golf Report 2023 data, worldwide golf equipment and apparel market hit Us$20bil (Rm93bil) in 2022 of which Us$11.1bil (Rm51bil) was in equipment sales and Us$8.9bil (Rm41bil) in apparel sales.
There was also a major surge in worldwide sales in 2021 with an annual increase of more than Us$5bil (Rm23bil).
The sport is so popular that a seismic change in the golfing landscape occurred in 2022 when a new professional golf tour funded by the Public Investment Fund (sovereign wealth fund of Saudi Arabia) known as LIV Golf started and challenged the historic PGA Tour.
The prize fund up for grabs for a single season tournament reached a staggering Us$400mil (Rm1.8bil). Top-ranked golfers were offered hundreds of millions just to join LIV.
The PGA Tour reacted by banning professional golfers who played on the LIV golf circuit and multiple legal suits were filed between the two organisations.
Ultimately, a resolution appeared to be in sight following the news that a potential merger will go ahead between the two franchises. A Netflix documentary on golf, called Full Swing, depicts the sport’s evolution.
Golf as a sport has a huge market not only in terms of the annual growth rate of the number of players, but it remains the most lucrative sport in terms of the prize money and sponsorship deals.
We can see the continuous sponsorship of Rolex and other premium brands plastered all over golfing events.
Market leadership
MST’S IPO was oversubscribed by 5.28 times. This is a good performance considering it is a Main Market listing looking to raise Rm130mil for expansion.
At the IPO price of 81 sen, the market cap upon listing is expected to be Rm665mil. This is a rather huge IPO and not comparable to smaller ACE Market listings.
The question on some retail investors’ minds is that recent Main Market listings have been disappointing such as DXN Holdings Bhd, Radium Development Bhd and more recently Skyworld Development Bhd.
Some are concerned that the sentiment may impact this IPO as well. I am of lesser concern because the true value of the company lies not only in which market it lists but also its business itself.
Apart from the clear market leadership position of MST, many from the investment fraternity have used MR DIY as a peer comparison. I have also seen some other commentary using other retailers such as Innature, Senheng, Padini and others which are in the consumer retail space.
This led to the misconception that MST is listing at a very steep valuation. MST in fact is a specialty retailer and distributor of equipment for a global sport catering to the segment of consumers with the highest disposable income.
MST is very different from the other above-mentioned consumer retail companies which target the masses.
Furthermore, due to its track record and entrenched market share, we are unlikely to come across another golf equipment retailer and distributor company listing on Bursa Malaysia in the years to come. This is a one-of-a-kind listing and therefore, would enjoy a scarcity premium.
Ideally, I would like to see MST perform as well as MR DIY on listing day and the weeks to come.
However, the distinguishing factor that I believe would see MST sustain and do better for the longer horizon is because the MR DIY listing does not include the businesses in its other foreign markets which it expanded to such as Indonesia and the Philippines, etc.
For MST, the listing of the group includes all markets and MST is only starting to venture into Indonesia and Thailand; both are huge golfing markets by the sheer number of their population, popularity of golf tourism and burgeoning middle class.
A better peer comparison in terms of the valuation for MST would be Us-listed Topgolf Callaway Brand Corp.
It is one of the most popular golf equipment brands with a long history of being golfers’ favourite. Callaway has historically traded at an average forward price earnings (PE) valuation of 31 times. The immediate forward PE valuation is 23 times.
On the premise of the same valuation metrics, the likely intrinsic fair value for MST in 2024 is not too far off from TA Research’s recent report.
I often likened investing in the stock market to playing the game of golf. It is a game of patience, prudence and strategy.
A lot of practice and dedication is required to be good at the game.
Additionally, this is one sport where the biggest competitor is yourself and not your opponents. Consistency is the key, and one swallow does not make a summer. It is a long game.
Investing in the right company within a short span of time is meaningless if you cannot maintain the performance over a long duration of time.
Ultimately, the one who is regarded as a good investor, like a good golfer, is someone who consistently beats the market and surpasses their own performance over a long duration.
Golf is one sport that has a long-life span. It is a game that one can play until a ripe old age. Unlike badminton, football or basketball, the cardio element and companion requirements limit the longevity of the sport.
If your elderly parents are still insisting on playing badminton on a regular basis at the age of 70 and above, I would recommend you asking them to slow down.
Golf, on the other hand, would be one that requires little concern. If anything, the long outdoor session followed by the after-game chit chat session bodes well for the elderly who enjoy companionship.
Now, for those who have subscribed to the MST Golf IPO or are planning to invest on “Gong” day, I hope my article is able to shed some light on the economics of golf both for the uninitiated and for those who enjoy the game as much as I do.
But I must put forth a disclaimer; as an avid golfer myself, my views may be coloured by an inherent bias and lack the objectivity required for a fund manager.
Whether my love for the game would help with my investment or otherwise, we shall find out on July 20.
My best wishes to all fellow golfing aficionados, hopefully we can all reap the rewards of the long game. In the event this IPO goes out of bounds at tee off, we can always try asking Bursa for a Mulligan.
Michelle Wie practicing at the Ko Oina Golf Club. This is before she began to have her problems off the tee. Notice the smooth but powerful transition and follow through. She started to jump at the ball for awhile, but now is back to a real good move. Notice BJ Wie, her ever-present father...
https://youtu.be/GMPCrQE7KSw
Golf has been fortunate enough to continue in the Covid climate.
The one-buggy one-player recommendation not enforced everywhere
AS the Covid-19 pandemic continues to afflict golf clubs across the length and breadth of the nation, one or two have resorted to giving the buggies recommendation a miss.
Almost all the local clubs have embraced the one-buggy oneplayer policy set in the guidelines of the Malaysian Golf Association (MGA). However, a quick check by TeeUp has revealed that there was one or two who chose not to follow suit and have opted to continue as before (the pandemic).
It is understood that the MGA “guidelines” are recommendations and the clubs are not bound by law to carry them out, unless they are those incorporated from the standard operating procedures (SOPs) of the health authorities.
Not surprisingly, the said clubs contacted for comment on the matter declined to offer any response.
It must be mentioned also that at one of the clubs (where twoper-buggy is still practiced), the players must be husband and wife, or from the same family and/ or the same Covid bubble.
All the other leading clubs in the Klang Valley that TeeUp spoke to about the buggy policy said they had initiated the MGA’s guidelines in full.
Speaking to TeeUp in an earlier interview, MGA president Admiral Tan Sri Mohd Anwar Mohd Nor (R) said they would issue updates as when these became applicable and added that they too were being guided by the Health Ministry.
“These SOPs and guidelines have been put in place to help curb the spread of the coronavirus and we will continue to work with the health authorities in their efforts to flatten the curve,” he said.
“It is our sincere hope that the golf clubs and other industry stakeholders will join forces and adhere to the SOPs without exception. This is most important in the fight to curb the spread of this virus.”
Mohd Anwar added that the national association’s annual general meeting, which was scheduled for last month, will be held at a date to be determined when “all is safe to do so.
“We had no option but to postpone the annual general meeting because of Covid-19. The safety and well-being of our members and all others in the related fields of golf, is our priority and we will not detour from this approach,” added Mohd Anwar.
“Once things improve and we get the nod from the health authorities, we will host the annual meeting – but not before then.”
At this year’s annual general meeting (if indeed it does go ahead) there will be no elections for the top positions within the organisation, given that they are in the middle of their terms.
The Professional Golf Association of Malaysia (PGAM) were also expected to have staged their annual meeting by now, but failed to do so because of the pandemic. And they are, likewise, waiting to set a new date when the circumstances allow them to.
Golf is one of the few sports that has been fortunate enough to continue in the present Covid climate, but with strict standard operating procedures set down by the Health Ministry. Among these are:
Pre-Game SOPs
> Golfers with any colds or coughs or any symptoms of Covid 19 shall be prohibited from entering the golf club.
> Bookings shall be made in advance.
> Enforce one golfer per buggy.
> Golf competitions suspended until further notice.
> Use MySejahtera to record golfers and employees entry to the golf club.
> Accept only online payment or bank transfer. Registration counter shall not accept any cash payment.
> Golfers shall register 20 minutes before tee time. Registration staff to be equipped with face masks/gloves. Hand sanitiser readily available at registration counter and disposable pencils made available.
> Temperature check for each golfer before entering the golf club and to sanitise their hands by security guard.
> One golfer to register for each flight.
> Social distancing markers to be clearly outlined at the registration counter.
> Interaction shall be limited between golfers and staff.
> Each golfer to complete and submit a Health/ Travel Declaration form prior registration.
