Treasure Global Inc. signed a non-binding memorandum of understanding with Mestiz Holding Berhad for a proposed US$38 million cash acquisition of a 51% controlling interest in Mestiz Century Logic Sdn Bhd, a Malaysia-based provider of cloud-based smart water metering and digital water management solutions. The agreement includes a 120-day exclusivity period for due diligence and negotiations. Completion remains subject to a definitive agreement, satisfactory due diligence, regulatory approvals and board approvals. If completed, the transaction would expand Treasure Global's portfolio beyond digital payments and enterprise AI into smart utility infrastructure.