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Berita & Aktiviti Terkini

Kinergy plans another private placement to raise up to RM66 mil

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  • KUALA LUMPUR (June 20): Energy and engineering services firm Kinergy Advancement Bhd (KL:KAB) said it is looking to raise up to RM66.23 million via a private placement to finance its renewable energy projects and repay its loans. In a bourse filing on Thursday, Kinergy (previously known as Kejuruteraan Asastera Bhd) said it plans to issue up to 198.63 million shares to independent third parties at an issue price to be determined later. Based on an illustrative issue price of 33.34 sen, the group will be raising RM66.23 million. Of the proceeds, RM35.93 million will be utilised for its renewable energy projects, and RM30 million will be for paring down bank borrowings. The remaining RM300,000 will be used to defray the placement’s expenses. Previously, the group had raised RM60.95 million from an earlier private placement, of which RM29.94 million went towards its sustainable energy solutions (SES) business, RM14.1 million for repayment of bank borrowings, RM16.38 million to fund working capital requirements and RM525,000 for the exercise's expenses. As of Wednesday, Kinergy said it had secured four renewable energy projects, of which two are in Malaysia and one each in Indonesia and the Philippines, with a total estimated concession value of RM837.55 million over a concession period of between 21 and 25 years. In addition, the group is also in the midst of tendering for a renewable energy project in Malaysia, with an estimated concession value of RM1.59 billion over a 20-year concession period. Meanwhile, Kinergy said its total bank borrowings stood at RM140.58 million as at Wednesday. Of this, RM79.17 million are long-term borrowings and RM61.41 million are short-term borrowings. Source: Justin Lim / theedgemalaysia.com

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UEM Sunrise sells remaining 40% stake in Johor unit to KLK for RM386.2 mil cash

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  • KUALA LUMPUR (June 18): UEM Sunrise Bhd (KL:UEMS) has disposed of its remaining 40% stake in a joint venture, Aura Muhibah Sdn Bhd (AMSB), to Kuala Lumpur Kepong Bhd (KL:KLK) as the latter exercised its call option. The sales proceeds of RM386.2 million would be utilised to pare down UEM Sunrise's outstanding debt upon maturity by the year end, which will in turn reduce the group’s gross gearing from 0.61 times to 0.55 times, according to the filing to Bursa Malaysia. UEM Sunrise is expected to recognise a net disposal gain of RM32 million. Upon completion of the deal, KLK will wholly own the joint venture that owns 2,500 acres of land in Kulai, southern Johor. UEM Sunrise said the disposal stake in AMSB is in line with the group’s turnaround strategic plan to transform into a balanced real estate player — with the immediate goal of strengthening financial performance through the monetisation of non-strategic lands and assets. UEM Sunrise has the opportunity to realise a gain on disposal and unlock the value of one of its longstanding assets, it added. “Subsequently, this will also allow the company to strategically focus on its other assets in the southern region, particularly the industrial developments in Gerbang Nusajaya, Iskandar Puteri,” it further added. UEM Sunrise said the deal is expected to be completed on June 29. UEM Sunrise’s share price closed down two sen or 1.7% at RM1.16, bringing the group a market capitalisation of RM5.87 billion. KLK, meanwhile, was down 28 sen or 1.4% to RM20.22, giving the group a market capitalisation of RM22.22 billion. Source: Justin Lim / theedgemalaysia.com

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TA Securities values ACE Market-bound UUE at 37 sen

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  • KUALA LUMPUR (June 14): TA Securities said that at an initial public offering (IPO) price of 24 sen a share, UUE Holdings Bhd is priced at a trailing price-earnings ratio of 10.2 times core earnings per share (EPS) for the financial year ended Feb 28, 2023 (FY2023). In a note on Friday, the research house which does not currently have a rating on the underground utilities engineering solutions provider, said it values the company at 9x CY25 EPS, arriving at a fair value of 37 sen. TA Securities said UUE achieved a 2-year revenue CAGR of 31.0% to RM88.7 million from FY21 to FY23, largely driven by growing revenue recognition from the underground utilities engineering solutions division. “In line with the revenue growth, its core earnings surged to RM14.3 million from RM7.6 million in 3 years. “To note, FY23’s core earnings declined slightly to RM14.3 million (5.3% y-o-y), owing to higher administrative expenses stemming from salary adjustments and new recruitment,” it said. TA Securities said while UUE does not have a formal dividend policy, a fair dividend payout assumption of 15% is justified, considering the steady earnings growth in the near future and positive operating cash flow. “Going forward, we estimate the group to register core earnings growth of 34.1%, 15.2%, and 15.5% to RM19.2 million, RM22.1 million, and RM25.6 million for FY24 to FY26, respectively. Source: Surin Murugiah / theedgemalaysia.com

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SNS Network completes transfer of listing to Main Market

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  • KUALA LUMPUR (June 13): ACE Market-listed SNS Network Technology Bhd (KL:SNS) has officially completed the transfer listing of its RM1.61 billion share capital to the Main Market of Bursa Malaysia. In a statement on Thursday, the company said the transfer will further strengthen the group’s credibility among its customers, suppliers, business associates, employees and shareholders, and further strengthen the shareholder base of the company, especially among institutional investors. SNS Network managing director Ko Yun Hung said he is optimistic about the company’s business outlook over the next few years, amid growing demand for artificial intelligence (AI) super servers from several technology firms. “With more data centres being set up in the country, especially in Cyberjaya, Kuala Lumpur and Johor, we foresee demand for AI super servers to continue to be strong in the next few years,” he said. He said generative AI is at the beginning of a supercycle in the technological landscape, and is set to supersede the previous two supercycles led by mobile internet in the 2010s, and cloud computing which peaked during 2015-2020. “Looking ahead, the future for SNS Network is not only bright but very diverse. We do recognise that the commercial channel remains the largest contributor to our revenue at over 80% in the last financial year ended Jan 31, 2024 (FY2024). “We remain very positive about the retail market going forward. Demand driven by digital transformations as well as AI adoption is expected to be robust. “As such, our plans to open retail stores across Malaysia remain intact, and will add on to our 60 brand stores, seven multi-brand concept stores and 12 consignment counters,” he said. At the time of writing, SNS Network had fallen 2.86% or 2.5 sen to 85 sen, with 54.26 million shares traded, giving the stock a market capitalisation of RM1.36 billion. Source: Ishra Kamiso / theedgemalaysia.com

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Iqzan Holding secures project worth RM143 mil

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  • KUALA LUMPUR (June 12): Iqzan Holding Bhd (KL:IQZAN) has secured a construction project worth approximately RM143 million via its subsidiary, Kacon Construction Sdn Bhd (KCSB). In a filing with Bursa Malaysia on Wednesday, the company said that the project entails the construction of a 24-storey office building on Jalan Tun HS Lee here. “The project is expected to positively contribute to the earnings of the Iqzan group for financial years (FY) 2025, FY2026 and FY2027,” it said. The company also highlighted various risk factors which could affect the project, including the availability of skilled manpower and materials, fluctuations in material prices, and changes in political, economic and regulatory conditions. 'KCSB has expertise in the construction business, which the management believes will help mitigate these risks,” it added. Source: Bernama

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ACE Market-bound Ocean Fresh seeks to raise RM14.01m from IPO

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  • KUALA LUMPUR (June 12): Frozen seafood processor Ocean Fresh Bhd began taking orders for its initial public offering (IPO) exercise that aims to raise up to RM14.01 million ahead of its listing on the ACE Market of Bursa Malaysia. The IPO is priced at 28 sen per share, according to its prospectus unveiled on Wednesday. At that price, Ocean Fresh would be worth RM58.84 million upon listing and valued at 6.45 times its 2023’s earnings. That compares to the consumer sector’s current double-digit valuations on Bursa Malaysia. All in all, the IPO involves 50.05 million new ordinary shares, representing 23.8% of the enlarged share capital. Application for the IPO will close on June 20, and Ocean Fresh is slated to be listed on the ACE Market on July 4. Ocean Fresh said it will utilise more than half of the proceeds, or RM8 million, for its new cold storage facility in Kuantan, Pahang. The company has also budgeted RM2.51 million for working capital requirements and to spend RM3.5 million on estimated listing expenses. “We expect the demand for seafood in Malaysia to continue to grow, driven by improving living standards and disposable income of the population,” said executive director Teo Chee Han. Malaysia is one of the top Asian markets for seafood, with per capita consumption of about 52.7 kilogrammes in 2021, he noted. For the financial year ended Dec 31, 2023 (FY2023), the company reported a net profit of RM6.95 million, or a basic earnings per share of 4.34 sen. Revenue for the period stood at RM159.45 million. Ocean Fresh reported a gearing ratio of 0.12 times, with borrowings totalling RM5.36 million at the end of 2023. According to its prospectus, Ocean Fresh currently does not have a fixed dividend policy. “Nonetheless, it is our intention to pay dividends to our shareholders in the future, to allow them to participate in our profits,” it added. Source: Hee En Qi / theedgemalaysia.com

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Johor Plantations signs five cornerstone investors for IPO to raise over RM700 mil, sources say

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  • KUALA LUMPUR (June 12): Johor Plantations Group Bhd has secured five cornerstone investors for what would be the largest initial public offering (IPO) in more than two years, according to people familiar with the matter. The five cornerstone investors are Retirement Fund Inc (KWAP), Fortress Capital Asset Management (M) Sdn Bhd, AHAM Asset Management Bhd, Areca Capital Sdn Bhd and Aberdeen Asset Management Sdn Bhd, one of the people told The Edge. Johor Plantations is seeking to raise more than RM700 million from the IPO on Bursa Malaysia’s Main Market, another person said. The IPO is expected to be Malaysia’s largest in terms of proceeds raised since Farm Fresh Bhd (KL:FFB), which raised RM1 billion in March 2022. Johor Corp owns Johor Plantations via Kulim (M) Bhd, which was taken private in August 2016. The listing would offer investors up to 35% of Johor Plantations’ enlarged share capital. The IPO involves up to 875 million shares comprising a public issue of 464 million new shares and an offer for sale of up to 411 million existing shares, according to its draft prospectus filed to Securities Commission Malaysia. The company will be the second plantation listing on Bursa this year, after its smaller peer MKH Oil Palm (East Kalimantan) Bhd’s (KL:MKHOP) debut on April 30, which raised RM155.43 million. Bursa has hosted 20 IPOs so far this year, with the largest so far being the IPO of fertility specialist Alpha IVF Group Bhd (KL:ALPHA) that raised RM446.54 million. According to the draft prospectus, net profit for the first seven-month period of financial year ended Dec 31, 2023 (7MFY2023) fell 80% to RM58.34 million from RM292.13 million in the previous corresponding period, while revenue declined 44% to RM622.36 million from RM1.11 billion. This is in contrast with its performance in FY2022, with net profit growing 44% to RM495.59 million from RM344.8 million in FY2021, while revenue increased 13% to RM1.75 billion from RM1.55 billion. Source: Jason Ng & Hee En Qi / theedgemalaysia.com

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EcoWorld sells land in Iskandar Malaysia to data centre firm for RM402 mil

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  • KUALA LUMPUR (June 10): Eco World Development Group Bhd (KL:ECOWLD) said it plans to sell a 123.14-acre industrial land in Iskandar Malaysia, Johor to a company providing data centre services, for RM402.3 million or RM75 per sq ft. The group said it had acquired the land — which forms part of the master land measuring 403.78 acres within Eco Business Park VI (EBP VI) — in September 2023 at RM12 per sq ft. The proposed cash sale of the land to Microsoft Payments (Malaysia) Sdn Bhd marks the first transaction for EBP VI, said EcoWorld in a bourse filing on Monday. “The group believes that the presence of an internationally recognised technology leader choosing to set up a sizeable data centre here will further drive demand for EBP VI’s other industrial products,” said EcoWorld. 'In addition, it allows the group to rapidly unlock the value of EBP VI to accelerate cash flow generation from the project.' Microsoft Payment (Malaysia), a wholly owned subsidiary of Microsoft Ireland Operations Ltd, had previously acquired four parcels of land measuring a total of 85.37 acres in Johor from Crescendo Corp Bhd (KL:CRESNDO) for RM447.64 million cash since November last year. EcoWorld said its 123.14-acre land sale is expected to be completed in the second half of 2025. With this deal, EcoWorld has joined other companies that have ridden the recent wave of artificial intelligence, particularly in data centres, which has swept through the capital market in Malaysia. For the financial quarter ended Jan 1, 2024, EcoWorld’s net profit climbed 22% year-on-year to RM69.63 million from RM57 million. Revenue climbed 10.9% to RM537.79 million from RM484.73 million, contributed by projects including Eco Business Parks in Iskandar Malaysia. Shares of EcoWorld closed up six sen or 3.77% to RM1.65 on Monday, valuing the group at RM4.86 billion. Source: Hee En Qi / theedgemalaysia.com

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KPJ Healthcare secures RM18.3m contract for hospital renovation work in related party transaction

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  • KUALA LUMPUR (June 10): KPJ Healthcare Bhd (KL:KPJ) said on Monday that it has secured an RM18.3 million contract for hospital renovation work, in a related party transaction. KPJ, through its indirect wholly owned unit Bandar Dato Onn Specialist Hospital Sdn Bhd, issued a letter of acceptance to Tg Langsat Development Sdn Bhd (TLDSB) for the renovation of floors 8 and 9 at KPJ Bandar Dato Onn Specialist Hospital (KPJ BDOSH). TLDSB is a wholly owned unit of TPM Technopark Sdn Bhd, which in turn is an indirect subsidiary of Johor Corp (JCorp). Meanwhile, JCorp is KPJ’s major shareholder, holding a 44.99% stake in the private healthcare group. With KPJ BDOSH currently operating at 80% capacity, the proposed renovation work will increase the hospital’s current number of beds from 90 to 150 to cater to more patients, according to KPJ. “In addition, the new wards would continue KPJ BDOSH’s current customer experience objective by raising the number of single bedded wards available in the hospital,” KPJ said in an announcement to Bursa Malaysia. “The proposed renovation work is in line with KPJ BDOSH’s interest in targeting health tourism as well as expanding into a new geographical market,” the group added. The proposed renovation work is expected to be completed by November. Shares of KPJ closed unchanged at RM1.94 on Monday, giving the healthcare group a market capitalisation of RM8.78 billion. The counter has gained over 36% year-to-date. Source: Syafiqah Salim / theedgemalaysia.com

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TA Securities sees Duopharma logging stronger performance in 2Q

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  • KUALA LUMPUR (June 10): Duopharma Biotech Bhd (KL: DPHARMA) is expected to see stronger performance in 2Q2024 on a resurgence in exports and tenders in the pipeline, said TA Securities. The research firm said this in a note on Monday following the group’s 1Q2024 investor relations briefing. It made no change to its earnings forecasts while reiterating its “buy” call with an unchanged target price (TP) of RM1.47 based on a price-to-earnings (PE) multiple of 16.0 times 2025 earnings per share. Notably, Duopharma’s 1Q net profit surged 79.7% quarter-on-quarter (q-o-q) to RM15.3 million, ahead of revenue growth of 15.2% to RM193.0 million. “For 2Q24, we expect a continuing improvement in performance (q-o-q and y-o-y basis), driven by the recently secured new APPL contracts from Pharmaniaga, worth RM578.1million,” added TA Securities. “We note that the demand for Vitamin C has tapered off as the country shifted to an endemic phase, leading to lower CHC sales of 15% and 25% y-o-y in FY22 and FY23 respectively. In all, we are optimistic for 2024 as demand is levelling up,” it said. In its forecast, TA Securities projects Duopharma’s revenue to grow 10.7% to RM780.1 million in FY2024, with profit seen rising 34.0% to RM70.6 million. RHB Research noted that Duopharma is currently trading at 0.2 standard deviation (SD) below its five-year historical mean of 17 times, which it deems “unjustified” due to its better than peers’ margin profile, higher budget allocation for the healthcare sector and advantages in handling trends of an ageing society. It has raised its TP to RM1.44, implying 16 times FY2024 PE, 0.3 SD above its five-year historical mean. The research house also trimmed its FY2024 to FY2025 earnings by 12% and 13% as sales recovery in its consumer healthcare segment came below its expectation, offset by an uptick in public sector sales. Source: Isabelle Francis / theedgemalaysia.com

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Jati Tinggi hits another new record high since listing on TNB contract win

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  • KUALA LUMPUR (June 7): Shares in Jati Tinggi Group Bhd (KL:JTGROUP) hit another new high since listing less than six months ago, after the engineering company said a joint venture had secured a RM25.55 million contract from Tenaga Nasional Bhd (KL:TENAGA). The counter climbed as much as 24% or 8.5 sen to 44 sen, before paring gains to trade at 40 sen a share at 9.15am on Friday, valuing the company at RM156 million on Bursa Malaysia. More than 40 million shares had changed hands, nearly six times the 20-day moving average, topping the active counters on the exchange. At 40 sen, Jati Tinggi is trading at 33.47 times its price-to-earnings ratio based on its trailing earnings per share (EPS) of one sen, according to Bloomberg data. On Thursday, the company said that the one-year contract was awarded to 70:30 JV between Worktime Engineering Sdn Bhd (WESB) and Jati Tinggi’s wholly-owned unit Jati Tinggi Holding Sdn Bhd (JTHSB) to install a 132kV underground double circuit cable for a semiconductor factory in Kuala Lumpur. This is the second contract win for Jati Tinggi which made its debut on the ACE Market of Bursa Malaysia last December. In March, Jati Tinggi also through its subsidiary JTHSB won a RM22.06 million job from WESB to lay a 275kV underground cables for a data centre in the southern region of Peninsular Malaysia. The contract is to span a 13-month period commencing March 27, 2024. Source: Anis Hazim / theedgemalaysia.com

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Phillip Capital starts coverage of TT Vision, target price at RM1.50

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  • KUALA LUMPUR (June 6): Phillip Capital has initiated coverage of TT Vision Holdings Bhd (KL:TTVHB) with a 'buy' rating at RM1.08, saying TTV is expected to benefit from the global acceleration in solar energy adoption and anticipated semiconductor sector recovery, with a target price (TP) of RM1.50 per share. In a note on Thursday, the research house said new product innovations, capacity expansion and a newly set-up joint venture with ATW, a subsidiary of China-listed Wuxi Autowell (ATW) Technology Co Ltd, will drive margin expansion and profit growth in the years ahead. Most importantly, it said, the ongoing global supply chain relocation by global multinational companies, such as Jinko Solar, Longi Solar, JA Solar, First Solar, Maxeon, and Hanwha Qcells, had set the stage for a multi-year growth trend that favours TTV. “We initiate coverage with a 'buy' rating and 12-month TP of RM1.50, based on a target 33 times price-earnings multiple on earnings per share for the financial year ending Dec 31, 2025. “We like TTV for its exposure to the fast-growing solar industry, indirect exposure to Wuxi’s through the new JV, its innovative product pipeline, and strong earnings growth prospects,” the research house said. Source: Surin Murugiah / theedgemalaysia.com

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Wasco CEO sees earnings growth sustained by RM3.2b order book

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  • KUALA LUMPUR (June 5): Wasco Bhd (KL:WASCO), formerly known as Wah Seong Corp Bhd, expects its earnings growth to continue in the upcoming quarters, after net profit came in at a seven-year high for the first quarter of 2024 (1QFY2024). The pipe coating specialist’s rosy earnings outlook hinges on its RM3.2 billion order book, according to Wasco group chief executive officer and managing director Giancarlo Maccagno. Maccagno expects the group, whose share price has climbed 47% since the beginning of this year, to deliver profitability in the “next few quarters” with the jobs on hand. Of the RM3.2 billion order book as at end-March, about RM2.9 billion is from its energy services segment and RM260.7 million from its bioenergy services segment. Wasco is involved in pipe coating and engineering services under its mainstay energy segment. It also manufactures boilers and steam turbines for the biomass power plant that is housed under the bioenergy services segment. Through better earnings, Maccagno said that the group may be able to resume dividend payments this year, following a hiatus after it paid a dividend of 0.4 sen per share in FY2020. Wasco’s net profit for the three months ended March 31, 2024 (1QFY2024) more than doubled to RM57 million from RM21.76 million a year earlier. Quarterly revenue grew 21% to RM643.94 million, compared to RM531.58 million. The group attributed the earnings growth to higher number of projects executed, an improved project mix as well as better margins. Source: Anis Hazim / theedgemalaysia.com

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Kucingko signs underwriting agreement with Kenanga for ACE Market IPO

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  • KUALA LUMPUR (June 5): Animation company Kucingko Bhd said on Wednesday it has signed an agreement with Kenanga Investment Bank to underwrite its upcoming initial public offering (IPO) on the ACE Market. The agreement marks another step forward for the company that provides 2D animation production for global broadcasters and streaming platforms since it secured listing approval from Bursa Malaysia on April 30. If successful, Kucingko would be the first animation production studio to be listed in Malaysia. Under the agreement signed, Kenanga will underwrite the 35 million new shares for application by the Malaysian public and eligible persons under pink form allocations, Kucingko said in a statement. The proposed IPO involves the issuance of 100 million new shares, of which 25 million shares are allocated to the Malaysian public and 10 million to eligible persons. The remaining 65 million new shares will be privately placed to select investors. The IPO will also offer 100 million existing shares through private placement to select investors. All in all, the listing offers investors up to 40% stake in Kucingko. Kucingko’s IPO offers “excellent diversity for investors as the Malaysian market has historically lacked publicly traded animation production companies,” said Datuk Roslan Tik, executive director, head of group investment banking and Islamic banking of Kenanga Investment Bank. Funds raised from the IPO will be “instrumental in scaling our business through setting up a sales office in the US, our largest market, and increasing our production capacity by setting up branch offices in Sabah and Sarawak to tap into talent pools,” said Kucingko executive director See Chin Joo. Its wholly-owned subsidiary Inspidea Sdn Bhd produces 2D animation for animated series and animated short films, having completed 59 projects worth RM63.22 million in total from 2020 till June 2023 with nearly 77 hours of content. Source: Jason Ng / theedgemalaysia.com

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AEON Co buys two pieces of land in Seremban for RM103 mil to build a mall

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  • KUALA LUMPUR (June 4): AEON Co (M) Bhd (KL:AEON) is buying two pieces of land in Seremban, Negeri Sembilan for RM102.89 million to build a shopping mall. The department store and shopping mall operator signed a sale and purchase agreement with Real Attraction Sdn Bhd on Tuesday to acquire the said parcels of land measuring 23.045 acres in Bandar Seremban Utama. According to AEON’s filing with Bursa Malaysia, the proposed acquisition is in line with its corporate strategy to develop its future retail business and provides the group with the opportunity to expand in Seremban. The market value of the land as assessed by Oregeon Property Consultancy Sdn Bhd is RM110 million, said AEON. The deal was concluded on a 'willing buyer, willing seller' basis” after taking into account the potential development of the parcels of land and the range of market values for similar land in the vicinity, it said. AEON said that 10% of the purchase price, which will be paid upon signing of the SPA, will be funded by internally generated funds. The remainder of the purchase price is expected to be funded through a combination of internally generated funds or bank borrowings. The exercise, which is expected to be completed within 18 months from the date of the SPA, is subject to the approval of the state authority, the relevant authorities, the Economic Planning Unit of the Prime Minister’s Department and the Distributive Trade Committee approval from the Ministry of Domestic Trade and Consumer Affairs, if applicable. As of end-March, AEON had a short-term loan of RM30.5 million and a long-term loan of RM370 million, while cash and cash equivalents amounted to RM250.6 million. At Tuesday’s closing bell, shares of AEON were up two sen or 1.42% at RM1.43, giving the group a market value of RM2.01 billion. The counter has climbed 30% year-to-date. Source: Syafiqah Salim / theedgemalaysia.com

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Kimlun bags construction contract worth RM234.3 mil in Shah Alam

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  • KUALA LUMPUR (June 4): Kimlun Corp Bhd (KL:KIMLUN) has secured a contract worth RM234.27 million in Shah Alam, Selangor. In a bourse filing on Tuesday, the company said its unit Kimlun Sdn Bhd had accepted the award of a construction contract from Saujana Development Sdn Bhd for a high-rise residential development in Seksyen U2, Shah Alam, Selangor. It said the construction work is expected to be completed in the third quarter of 2026. Kimlun said the project is expected to contribute positively to its earnings for the financial years during the contract period. At the midday break, Kimlun fell 2.99% or four sen to RM1.30 with 148,500 shares traded, giving it a market capitalisation of RM459 million. Source: Surin Murugiah / theedgemalaysia.com

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Agricore CS aims to raise RM25.9mil from IPO

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  • KUALA LUMPUR: Food ingredients supplier Agricore CS Holdings Bhd, en route for a listing on the ACE Market of Bursa Malaysia, expects to raise RM25.9mil from its initial public officer (IPO). Agricore plans to use RM18.9mil (74%) raised from the IPO to further expand its sourcing and distribution business by increasing inventory levels at Bukit Minyak Premises and its new regional storage facility in Klang, Selangor. Managing director Oon Boon Khong said through higher inventory levels, the company will be able to drive its revenue growth by increasing its sales volume to the existing customers as well as securing new customers. “The total estimated cost for the expansion of our sourcing and distribution business through increasing our inventory levels is RM18.9mil, of which RM13.7mil will be utilised to purchase inventory for our Bukit Minyak Premises and the remaining RM5.2mil will be utilised to purchase inventory for the new regional storage facility in Klang, Selangor,” he said in a statement. Agricore said a further RM2.7mil (10%) of the proceeds will be used to increase its storage capacity by setting up a new regional storage facility in Klang, Selangor, with an approximate built-up area of 30,000 sq ft. Currently, all Agricore’s plant-based agricultural products are stored in the Bukit Minyak Premises prior to delivery to the customers. The utilisation rates of the storage space at Bukit Minyak Premises were recorded at an average of 91.1% for financial year ended Dec 31, 2020 (FY20) to FY23. The remainder of the proceeds will be allocated to recruit additional staff in Bukit Minyak Premises amounting to RM0.6mil (2%) to support the expected future business growth and to defray the estimated listing expenses of RM3.7mil (14%). Under the listing exercise, Agricore is issuing 51.7 million new shares, representing 25.5% of the enlarged share capital at an issue price of 50 sen per share. Of the 51.7 million new shares, 10.1 million new shares will be made available to the Malaysian public via balloting and 10.1 million new shares for its eligible directors, employees and persons who have contributed to the success of Agricore Group under Pink Form Allocations. Meanwhile, 25.4 million new shares will be placed out to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI) while the remaining 6.1 million new shares will be allocated by way of private placement to selected investors. Based on the enlarged share capital of 202.8 million shares, Agricore is expected to have a market capitalisation of RM101.4mil after listing. Agricore’s listing on the ACE Market of Bursa Malaysia is tentatively scheduled on June 21. The IPO is open for subscription from today to June 7. Source: The star

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SBH Marine posts RM972,000 net profit in 1Q

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  • KUALA LUMPUR (May 31): Recently listed SBH Marine Holdings Bhd (KL:SBH) posted a net profit of RM972,000 on the back of revenue of RM40.52 million in the first quarter ended March 31, 2024, derived from the processing and sale of frozen seafood products. There are no comparative figures of the preceding year’s corresponding quarter as no interim financial report has been prepared by the company prior to its listing. Earnings per share stood at 0.14 sen. SBH did not declare any dividend. Reviewing its performance, SBH said revenue for the period fell 11% quarter-on-quarter from RM47.11 million, due to lower selling prices of shrimps and higher freight costs. On its prospects, SBH said the financial year ending Dec 31, 2024 is anticipated to remain challenging due to the global market uncertainty arising from the ongoing Red Sea crisis, which had affected global shipping routes and increased freight rates. “Despite the challenges ahead, the group remains confident in the execution of our strategic plans with prudent management,” it said. At the midday break on Friday, SBH was unchanged at 23 sen with 2.11 million shares traded. Source: Surin Murugiah / theedgemalaysia.com

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Genting Malaysia posts RM58m net profit in 1Q on improved leisure and hospitality business

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  • KUALA LUMPUR (May 30): Genting Malaysia Bhd (GenM) (KL:GENM) posted a first quarter net profit of RM57.78 million, compared to a net loss of RM27.38 million a year earlier, on the back of higher revenue from its leisure and hospitality business. Net profit for the quarter ended March 31, 2024 (1QFY2024), however, came in lower than the two preceding quarters — RM177.41 million in 3QFY2023 and RM239.64 million in 4QFY2023. GenM's net profit in the pre-pandemic year of FY2019 had ranged from RM268.29 million to RM416.48 million. The casino operator — whose assets include Resorts World Genting (RWG) in Malaysia and Resorts World New York City and Resorts World Catskills in the US — reported earnings per share of 1.02 sen for 1QFY2024, against a loss per share of 0.48 sen in 1QFY2023. The group said the adjusted Ebitda in 1QFY2024 included the impact of net unrealised foreign exchange translation losses of RM130 million in the group’s US dollar denominated borrowings, as compared to net unrealised forex translation losses of RM39 million in 1QFY2023. Excluding the impact of the unrealised forex translation, the group’s adjusted Ebitda increased 24%. Shares in GenM closed four sen or 1.4% higher at RM2.80 on Thursday, valuing the group at RM16.63 billion. Justin Lim / theedgemalaysia.com

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OSK’s 1Q earnings rise 10% to RM122.93m

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  • KUALA LUMPUR (May 30): OSK Holdings Bhd’s (KL:OSK) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 10% to RM122.93 million from RM115.09 million, on the back of a 10% rise in revenue to RM367.94 million, versus RM333.20 million. In a bourse filing on Thursday, OSK said the property, financial services, industries and investment holding segments were the top contributors to tax profits, with the industries and financial services segments recording growth of 59% and 42% respectively, compared to the same period last year. Earnings per share was 5.96 sen, versus 5.58 sen earlier. In a separate statement, OSK group executive chairman Tan Sri Ong Leong Huat said the first-quarter results reflect the outcome of the company’s continued commitment to execute growth strategies for core businesses, with a long-term focus in mind. OSK said the property segment demonstrated positive growth, with revenue reaching RM204.7 million, marking a 6% increase compared to the RM192.4 million recorded in 1QFY2023. As of March 31, the group’s unbilled sales stood at RM1.1 billion. OSK said the financial services segment delivered a strong result, with a 50% increase in revenue to RM53.2 million compared to RM35.6 million, and a 42% rise in pre-tax profit to RM26.1 million compared to RM18.4 million in 1QFY2023. At midday break on Thursday, OSK rose 1.23% or two sen to RM1.65, with 1.90 million shares traded. Source: Surin Murugiah / theedgemalaysia.com

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Large divestment gain lifts Ajinomoto’s 4Q net profit to record high

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  • KUALA LUMPUR (May 29): Ajinomoto (Malaysia) Bhd (KL:AJI) saw its fourth quarter net profit surge over 15-fold year-on-year, boosted by the massive RM391.4 million gain from a land disposal. Net profit for the three months ended March 31, 2024 (4QFY2024) jumped to a record high of RM364.21 million, compared with RM23.10 million in the same quarter last year. Earnings per share expanded to 599.04 sen from 37.99 sen, the food producer, famed for its umami seasonings, said in its bourse filing. Quarterly revenue, however, fell 3.26% to RM152.76 million, from RM157.92 million a year ago, due to lower sales volume of its Ajinomoto seasoning in the domestic and export markets. For its financial year ended March 31, 2024 (FY2024), annual net profit jumped over 14 times to a record high of RM401.42 million, from RM27.49 million in FY2023, mainly driven by the sizable divestment gain booked in the final financial quarter. Annual revenue grew 5.42% to a record high of RM636.45 million compared to RM603.75 million last year. Commenting on its outlook, the company sees geopolitical conflicts continuing to weigh on its cost of import and profit margins. 'The company will closely monitor the development in the political and business environment and review the impacts to our business and shall take appropriate actions to maintain our margins and profitability,' it added. Shares in Ajinomoto closed unchanged at RM16.60, giving the group a market capitalisation of RM1.01 billion. Source: Anis Hazim / theedgemalaysia.com

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Aurelius plans to raise RM123 mil via private placement for manufacturing plant

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  • KUALA LUMPUR (May 28): Aurelius Technologies Bhd (KL:ATECH) has proposed to undertake a private placement of up to 39.41 million shares, or 10% of its issued share capital, mainly to build a new manufacturing plant in Kulim Hi-Tech Park in Kedah. The placement is expected to raise RM123.34 million based on an illustrative issue price of RM3.13 per share, according to the electronics manufacturing service provider’s filing with Bursa Malaysia on Tuesday. A total of RM55 million of the gross proceeds will be used for the construction of the new integrated manufacturing plant spanning 243,977 sq ft, followed by RM20.18 million for working capital and RM20 million for new machinery and equipment, the group said. Another RM15.40 million will go towards the repayment of bank facilities, RM11.5 million for investment in strategic new vacant land and the remaining RM1.27 million for defraying the placement’s expenses. In a separate filing, Aurelius posted a quarterly net profit of RM15.73 million — its highest since being listed in the Main Market of Bursa Malaysia in December 2021 — for the first quarter ended March 31, 2024 (1QFY2024), on revenue of RM125.70 million. The earnings were driven by an improved order book across all customers, resource optimisation and improved production capacity utilisation from the previous year, the group said. There are no comparative figures as the group has changed its financial year end to Dec 31, from Jan 31. Aurelius declared a first interim dividend of 2.7 sen per share, with an ex-date of June 12 and a payment date of July 12. Aurelius shares closed six sen, or 1.78%, lower at RM3.31 on Tuesday, valuing the group at RM1.30 billion. Year to date, the counter has climbed 73 sen, or 28.29%. Source: Anis Hazim / theedgemalaysia.com

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Ekuinas commits another RM100 mil to Dana Asas fund to support Bumiputera firms

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  • KUALA LUMPUR (May 28): Ekuiti Nasional Bhd (Ekuinas), a state-owned private equity firm, said on Tuesday it is committing another RM100 million to its Dana Asas II fund. The second tranche of Dana Asas launched with RM100 million fund in March 2023 will support more high-growth, mid-market Bumiputera companies, Ekuinas said in a statement. Ekuinas also aims to expand into private credit with the establishment of an RM800 million fund, it said. “This direct lending model will broaden the spectrum of financing from Ekuinas, complementing our existing private equity investments in supporting the growth and customised needs of high-potential and high-growth companies,” said chief executive officer Datuk Syed Yasir Arafat Syed Abd Kadir. In a statement in conjunction with the release of its financial year 2023 results, Syed Yasir said 2023 was a trying year due to the geopolitical and macroeconomic impact which left its mark on local and global economies. However, he said Ekuinas is seeing its strategic investment and divestment efforts set in motion during a challenging 2023 come to fruition in the first half of 2024 (1H2024). “Our efforts in deal closing crystallised in 1H2024; we divested 50.2% of our stake in Icon [Offshore Bhd] (KL:ICON) in March, deployed capital from our Tranche IV Fund with an 80% acquisition in Symbiotica [Speciality Ingredients Sdn Bhd] in April and committed 52% of the capital for Dana Asas with our second investment from the fund in Mizou [Holdings Sdn Bhd] earlier this month. For the year ended Dec 31, 2023, Ekuinas’ cumulative committed direct investment reached RM4.1 billion. The overall year-on-year revenue growth for the portfolio companies was 7%. Notably, Exabytes and Medispec achieved impressive revenue growth of 22.5% and 15.4% respectively. Although the overall earnings before interest, taxes, depreciation and amortisation (Ebitda) for portfolio companies contracted by 7%, Orkim recorded an Ebitda growth of 8.9%, and Ekuinas’ Education Group saw a remarkable 65.3% increase in Ebitda. Source: Surin Murugiah / theedgemalaysia.com

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Inta Bina bags fourth construction contract of the year worth RM199 mil

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  • KUALA LUMPUR (May 27): Inta Bina Group Bhd (KL:INTA) has bagged a construction contract worth RM198.73 million to develop a residential apartment project in Ara Damansara, Petaling Jaya. In a bourse filing on Monday, the construction group said the contract was awarded by Sime Darby Property (Ara Damansara) Sdn Bhd, a wholly-owned subsidiary of Sime Darby Property Bhd (KL:SIMEPROP). The project involves the construction of two blocks of 18-storey apartments and one block of 23-storey apartments, consisting of a total of 450 residential units. The construction period would be 34 months from the commencement date on June 10, Inta Bina indicated that the company intends to finance the contract through a combination of borrowings and internally generated funds. As at Dec 31, 2023, Inta Bina reported an unbilled order book of RM1 billion. This is the fourth construction contract it has secured so far this year, totalling up to about RM942.12 million. For the financial year ended Dec 31, 2023, the group saw its net profit more than doubled to RM22.87 million from RM9.55 million in the previous year due to improvements in gross profit margin. Revenue rose 39.4% to RM650.11 million from RM466.27 million, mainly from the construction of residential and commercial properties. Shares of Inta Bina remained unchanged at 42 sen at Monday’s market close, valuing the group at RM228.5 million. Source: Emir Zainul / theedgemalaysia.com

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Total Dynamic rises 37.5% on LEAP Market debut

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  • KUALA LUMPUR (May 27): Logistics software company Total Dynamic Holdings Bhd (KL:DYNAMIC) debuted at 27.5 sen on Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (LEAP) Market on Monday. This represents a premium of 7.5 sen or 37.5% against its reference price of 20 sen. Total Dynamic is the first company to be admitted to the LEAP Market this year. Since its introduction in July 2017, 49 companies have been listed on the LEAP Market. The LEAP Market is an adviser-driven platform designed to offer emerging companies, including small and medium enterprises, with greater fundraising access and visibility via the capital market. It is accessible only to sophisticated investors. According to Total Dynamic, the company is not raising any funds from the listing, and there is no offer for subscription, or invitation to purchase the company’s shares. The listing involved a placement of its entire issued share capital of RM16.37 million comprising 250 million shares. Total Dynamic has successfully raised RM5 million from a pre-listing share placement exercise to private investors and share issuance to employees to fund the company’s expansion, which include investment in new server infrastructure for an alternate data centre, as well as opening of three new sales and service centres in Melaka, Sabah and Kedah respectively. The company offers fleet management systems comprising a suite of cloud-based software applications to track, monitor and manage information on the movement of commercial vehicles and their drivers using global positioning system (GPS) technology. In addition, the company provides logistics and warehouse management systems to its customers, which are mainly operating in the transportation and logistics sector. Source: Syafiqah Salim / theedgemalaysia.com

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SME group proposes RM1bil fund to invest in IPOs

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  • PETALING JAYA: A business group has called on the government to establish a fund anchored by government-linked companies (GLCs) to be used to invest in new initial public offerings (IPOs). The Small and Medium Enterprises Association of Malaysia (Samenta) today mooted the idea of a “SME Vision Fund” with an initial funding of RM1 billion and a ticket size of RM50,000 up to RM1 million based on criteria to be decided by the fund’s managers. “This will create greater confidence among SMEs to get listed as it could mean better price discovery and valuation, while giving participating fund partners the opportunity to tap into the SME sector,” said Samenta president William Ng. “Through an IPO, an SME could raise funds from investors that traditional financing channels are unlikely to offer.” He also pointed out how many SMEs find traditional financing to be time-consuming in terms of application, approval lead-time, and even in disbursements. In a statement, Ng said Samenta also welcomes the Securities Commission’s commitment to raising the liquidity and valuation of listed SMEs, especially in the LEAP market. He noted that illiquidity and poor valuation remain a major stumbling block for SMEs who are considering listing on Bursa Malaysia, which is stopping otherwise highly profitable companies from getting listed. He was responding to the five-year roadmap for micro, small and medium enterprises (MSME) and mid-tier companies (MTCs) which the SC unveiled earlier today in a bid to better position the capital market as an attractive and robust source of financing for such firms. The roadmap envisages the capital market serving the growing financial needs of these companies, potentially up to RM40 billion in 2028 (from RM6.3 billion in 2023), by complementing conventional financing avenues. SC also said the roadmap will complement and support existing national development policies, including the Madani economic framework, the 12th Malaysia Plan, the New Industrial Master Plan 2030, and the National Energy Transition Roadmap. In his speech during today’s launch of the roadmap, second finance minister Amir Hamzah Azizan highlighted the importance of MSMEs and MTCs to the economy and emphasised the need for strategic collaboration among key stakeholders in meeting this segment’s financing needs. MSMEs contribute about 38.4% of Malaysia’s GDP and 48.2% of total employment in 2022. There are about 8,500 MTCs, accounting for around 36% of GDP and 16% of the workforce. Source: FMT Reporters

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Skyworld’s 4Q net profit down 64%, plans projects worth RM1b in FY2025

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  • KUALA LUMPUR (May 22): Property developer Skyworld Development Bhd (KL:SKYWLD) said on Tuesday (May 21) that its net profit for the fourth quarter was down 64% from a year earlier, mainly on lower revenue and higher expenses. Net profit for the three months ended March 31, 2024 (4QFY2024) totalled RM20.75 million, compared to RM58.2 million over the same quarter a year earlier, Skyworld said in an exchange filing. Revenue for the quarter declined 30% to RM158.29 million, from RM225.95 million. Going forward, Skyworld said it plans to launch new projects in Kuala Lumpur, with total estimated gross development values exceeding RM1 billion in FY2025. “Furthermore, we will continue to be on the lookout for strategic lands in Malaysia and Vietnam to sustain our future development,” said chairman Datuk Seri Ng Thien Phin. Unbilled sales totalled RM548.1 million, “which will continue to provide earnings visibility for the next couple of years,” he said. For the full year of FY2024, Skyworld’s net profit was 26% lower at RM106.98 million from RM144 million, on lower progressive billings and higher marketing expenses for new projects launched. Revenue fell 18% to RM688.61 million from RM841.41 million, following completion of projects. Skyworld also declared a final dividend of one sen per share, to be paid on July 15. This raised total dividend for the full financial year ended March 31 (FY2024) to 2.25 sen per share, versus three sen per share paid out for FY2023. Shares of Skyworld were one sen or 1.45% higher at 70 sen at Tuesday’s closing bell, valuing the group at RM700 million, ahead of the results announcement. Source: Syafiqah Salim / theedgemalaysia.com

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Pintaras Jaya rises to 14-month high after announcing 3Q results

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  • KUALA LUMPUR (May 21): Shares in Pintaras Jaya Bhd (KL:PTARAS) rose to their highest in 14 months, though analysts remained doubtful of further gains, as the earthworks company homed in on the consensus target price. Pintaras rose as much as 12% or 20 sen to RM1.90, its highest since March 7, 2023. The stock ended Tuesday at RM1.80, valuing the company at RM299 million. Trading of the stock was also more active than usual, with volume at nearly 14 times its 200-day moving average. “FY2024 (the financial year ending June 30, 2024) has been a tough operating year for Pintaras Jaya, due to the weak margins that it has to take on and the liquidated damages for project delays,” said MIDF Amanah Investment Bank, which maintained its “neutral” call on the stock. Shares in Pintaras have risen 13% so far this year amid a broad rally in the construction sector, fuelled by optimism about major infrastructure project roll-outs by the government. The consensus 12-month target price is RM1.82, according to Bloomberg. On Monday, Pintaras announced that its net profit rose 18% to RM4.32 million for the three months ended March 31, 2024 (3QFY2024) from the same period a year earlier. That was better than expected, thanks to fair value gain from quoted investments, though its construction operations were loss-making. The company reported quarterly losses for 2QFY2024, 4QFY2023, and 1QFY2023. Pintaras’ management appeared “hopeful for more jobs with better rates in 2025 when larger government projects like the Penang LRT, flood mitigation and Pan Borneo, and more private sector projects kick off”, said Maybank Investment Bank, which also has a “hold” call on the stock. The research house now expects Pintaras to record a small RM1 million net profit for FY2024 compared to its previous forecast for a RM1 million loss. Source: Jason Ng / theedgemalaysia.com

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Kinergy's 1Q net profit doubles on new projects, entities

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  • KUALA LUMPUR (May 20): Energy and engineering services firm Kinergy Advancement Bhd (KL:KAB) said on Monday its net profit doubled in the first quarter, thanks to new projects and entities acquired. Net profit for the three months ended March 31, 2024 (1QFY2024) was RM4.97 million compared to RM2.43 million over the same period a year earlier, Kinergy said. Revenue, however, declined 1.7% year-on-year to RM42.04 million from RM42.76 million due to the completion of some engineering projects. Kinergy said it will focus on expanding its energy solutions and customer base in the energy sector, replenishing its order book and venturing into neighbouring Asean countries. The company’s order book balance totalled RM942 million at March-end, up from RM939 million at the end of December 2023. “Our strategic focus on the energy segment with clean energy, renewable energy and energy efficient solutions continues to align with expanding recognition of our technical capabilities,” Kinergy said. “This prominent recognition fuels our optimism for a positive outlook in FY2024.” The company’s sustainable energy segment, in particular, more than tripled its revenue over the past year and yielded an operating profit of RM5.94 million, double from a year earlier. That underscores “the high profitability and promising potential” in developing renewable and sustainable energy solutions and projects, Kinergy added. At Monday’s noon break, shares of KAB remained unchanged at 37 sen, valuing the group at RM734.98 million. Year-to-date, the counter has lost 7.5%. Source: Hee En Qi / theedgemalaysia.com

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ACE Market-listed Pappajack seeks transfer to Main Market

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  • KUALA LUMPUR (May 17): Two years after it was listed on the ACE Market of Bursa Malaysia, pawnshop operator Pappajack Bhd is seeking a transfer to the Main Market. The group said it has met the profit requirements for the move, having posted an adjusted profit after tax (PAT) of RM18.63 million for the year ended Dec 31, 2023 (FY2023), and an aggregate PAT of RM35.11 million for the past three years between FY2021 and FY2023. This meets the Securities Commission Malaysia’s requirements, which mandates an aggregate PAT of at least RM20 million over the past three financial years, with a PAT of at least RM6 million for the most recent year. As at end-December 2023, Pappajack ’s current assets stood at RM272 million, while its current liabilities totalled RM34.44 million. The group had cash and bank balances of RM49.78 million and borrowings of about RM38.53 million. Its gearing ratio stood at 0.16 times. On its public shareholding spread, Pappajack said 38.57% of its total number of issued shares was held by 1,446 public shareholders, holding not less than 100 shares each, which is above the requirement of 25%. PappaJack said the listing transfer, expected to be completed in the third quarter of 2024, will enhance its credibility and reputation, and accord the group with greater recognition and acceptance among investors. Malacca Securities has been appointed as the principal adviser for the transfer exercise. Pappajack, which was listed in April 2022 after offering its shares to the public at 30 sen per share, closed up two sen or 2% at RM1.01 on Friday, bringing the group a market capitalisation of RM776 million. Source: Justin Lim / theedgemalaysia.com

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S P Setia 1Q profit jumps 40% as revenue climbs, says on track to achieve RM4.4 bil sales target

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  • KUALA LUMPUR (May 16): Property developer S P Setia Bhd (KL:SPSETIA) posted a 39.46% year-on-year jump in its net profit for the first quarter of the year, as it recorded stronger revenue, driven by higher contribution from both its domestic business as well as its operations in Vietnam. Net profit for the quarter ended March 31, 2024 (1QFY2024) rose to RM77.33 million from RM55.45 million in 1QFY2023, S P Setia's bourse filing showed, with revenue climbing almost 53% to RM1.48 billion from RM967.67 million. Earnings per share rose to 0.56 sen from 0.36 sen. The group's main property development segment achieved a profit before tax (PBT) of RM180.8 million in 1QFY2024, up 38.6% from 1QFY2023, which it attributed to higher contribution from its Eco Xuan development project in Vietnam, supported by land bank management and higher contribution from domestic property development. 'The group’s wide range of investment properties and hotels had also contributed higher profit during this quarter, compared to the loss-making performance last year,' S P Setia said in a statement. These are housed under its construction, investment holding and others segment, which contributed a PBT of RM422,000 to the group during the quarter, compared to a loss of RM14.47 million previously. The group expects to continue its upward momentum with the launch of new projects with a combined gross development value (GDV) of RM146.2 million during the quarter, and favourable market uptake. The group is 'on track to meeting its RM4.4 billion sales target for the year', Choong added. Shares in S P Setia closed two sen or 1.32% higher at RM1.53 on Thursday, giving the group a market capitalisation of RM7.25 billion. The counter has gained 73 sen or 91.25% year to date. Source: Anis Hazim / theedgemalaysia.com

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Taliworks starts 2024 on strong footing with 49% jump in earnings

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  • KUALA LUMPUR (May 14): Taliworks Corp Bhd (KL:TALIWRK) has posted a 49.4% year-on-year increase in its first quarter net profit amid an increase in the bulk water supply rate for its water treatment and supply division, and a higher share of results from jointly controlled entity Grand Sepadu (NK) Sdn Bhd, on the back of a toll compensation by the government. The earnings improvement for the quarter ended March 31, 2024 (1QFY2024) was also driven by cost optimisation and higher traffic in the toll highway segment, higher sundry income and lower finance costs incurred during the quarter, Taliworks said in a filing with Bursa Malaysia on Tuesday. Net profit for the January-March period stood at RM15.03 million, against RM10.06 million in the previous year’s corresponding quarter, as revenue remained relatively flat at RM93.33 million, compared with RM93.53 million previously. The public utility group declared a first interim dividend of one sen per share amounting to RM20.16 million, to be paid on June 28. This is lower than the previous year’s first interim dividend of 1.65 sen per share. Looking ahead, Taliworks executive director Kevin Chin Soong Jin said the group is anticipating an even greater contribution from its renewable energy division. “This is driven by our ongoing panel replacement efforts at TR CPark (Sdn Bhd) and TR Sepang (Sdn Bhd), set for completion by 3Q2024. Our strategy remains focused on growth in our core water, construction and renewables division,” he said in a statement. Shares in Taliworks settled one sen or 1.25% higher to 81 sen on Tuesday, giving the group a market capitalisation of RM1.63 billion. Source: Emir Zainul / theedgemalaysia.com

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Swift Energy files for ACE Market IPO to raise funds for expansion

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  • KUALA LUMPUR (May 14): Swift Energy Technology Bhd, which sells industrial automation and power systems, filed for an initial public offering (IPO) on ACE Market to raise funds for the construction of new facilities and expansion abroad. The proposed IPO involves a public issue of 250.2 million new shares and an offer for sale of 50.04 million existing shares at prices to be determined later, according to the draft prospectus submitted to Bursa Malaysia. All in all, the listing offers investors up to a 25% stake in the company. The company has also earmarked part of the proceeds to finance the purchase of equipment and software by 2027 as well as set up a research-and-development centre. Further, Swift Energy also plans to expand in Indonesia by setting up a wholly-owned subsidiary with an office in Jakarta, it said. The rest of the proceeds from the IPO will be used to repay bank borrowings, as working capital, and to defray listing expenses. The company, which operates in Malaysia, Thailand, Singapore and China, made a net profit of RM11.95 million for the year ended Sept 30, 2023, on the back of RM92.43 million in revenue. The public issue involves 50.04 million new shares for the Malaysian public, 125.1 million shares for bumiputera investors and another 25.02 million shares for select investors through private placement. The offer-for-sale of existing shares, meanwhile, will be done through private placement to select investors and proceeds will go entirely to selling shareholders including Blueprint Capital Sdn Bhd, mainly controlled by Swift Energy chief executive Tan Bin Chee and corporate affairs director Suzana Abu Bakar. Source: Jason Ng / theedgemalaysia.com

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GuocoLand’s 3Q net profit falls 66%, warns about property oversupply

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  • KUALA LUMPUR (May 13): GuocoLand (Malaysia) Bhd (KL:GUOCO) — controlled by tycoon Tan Sri Quek Leng Chan — saw its net profit tumble 66.3% for the third quarter ended March 31, 2024 (3QFY2024), due to lower revenue from its property development division. Nonetheless, this was partially offset by a better performance of the hospitality division, thanks to higher occupancy and better average room rates. In a filing with Bursa Malaysia on Monday, GuocoLand posted a net profit of RM2.94 million for the quarter under review, from RM8.71 million a year earlier, on the back of a 20.8% decline in revenue to RM88.97 million from RM112.36 million. Looking ahead, Guocoland flagged that the domestic property sector will remain challenging, because of elevated interest rates and rising construction costs. Having said that, the group said it will focus on the timely completion of its ongoing development projects, and monetisation of its inventories, while seeking opportunities to expand its land bank. Cumulatively, for the nine-month financial period ended on March 31, 2024 (9MFY2024), the group’s net profit declined by 30.8% to RM13.02 million from RM18.81 million a year earlier, despite revenue climbing 10.7% to RM327.73 million from RM296.07 million, due to lower profit margins and higher construction costs. Last Friday, Paramount Corp Bhd (KL:PARAMON) bought a 21.54% stake in Eco World International Bhd (KL:EWINT) for RM170.61 million or 33 sen a share from GLL EWI (HK) Ltd — a unit of GuocoLand Ltd controlled by Quek — via a direct business transaction. It sold the remaining 5.46% stake in EWI to an unknown buyer. At Monday’s market close, shares in Guocoland were up 1.5 sen or 2% to 76.5 sen each, valuing the group at RM535.85 million. Source: Hee En Qi / theedgemalaysia.com

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Ajiya to loan Chin Hin RM250m for acquisition, expansion plans

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  • KUALA LUMPUR (May 10): Ajiya Bhd (KL:AJIYA) has entered into a loan agreement with Chin Hin Group Bhd (Chin Hin)(KL:CHINHIN) to provide a loan of up to RM250 million to Chin Hin. The loan facility will have an interest rate of 7.5% per annum. Ajiya said the loan is expected to be drawn down by Chin Hin in several tranches within 24 months from the date when all conditions of the loan agreement have been fulfilled. The exact loan amount to be drawn down by Chin Hin in each tranche shall be determined later, based on the actual funding requirements of Chin Hin at the material time. “The financial assistance represents a strategic shift, which will allow Ajiya to re-mobilise its excess capital and resources to provide the necessary funding requirements to Chin Hin, for it to undertake the proposed acquisition of shares in Chin Hin Construction Engineering Sdn Bhd and Kayangan Kemas Sdn Bhd,” it said in a stock exchange filing. The financial assistance is also for the expansion of Chin Hin’s building material division and construction division, as well as other investment purposes, it said. “The board believes that the financial assistance will bolster Chin Hin’s capability to undertake additional construction and property development projects, which in turn will provide Ajiya the opportunity to participate in more projects and increase its revenue base,” it added. Source: Bernama

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Main Market-bound Feytech Holdings' IPO oversubscribed 15.6 times

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  • KUALA LUMPUR (May 10): Automotive cover and seat manufacturer Feytech Holdings Bhd (KL:FEYTECH) said on Friday that investors have snapped up all the 42.16 million shares it made available for application by the public in its initial public offering, ahead of its Main Market debut. It received 14,687 applications for 701.36 shares worth RM561.09 million from the Malaysian public, which represents an overall oversubscription rate of 15.64 times, according to a statement on Friday. For the Bumiputera portion, it received 7,898 applications for 265.61 million shares, representing an oversubscription rate of 11.60 times. For the remaining public portion, it received 6,789 applications for more than 435.75 million shares, which represents an oversubscription rate of 19.67 times. Its placement agents also confirmed that 75.87 million shares and 4.22 million offer shares made available by way of private placement to selected investors, as well as the 105.4 million offer shares made available by way of the private placement to Bumiputera investors, have been fully placed out. Feytech's IPO on the Main Market of Bursa Malaysia is offering 252.94 million shares, including an offer for sale of 109.62 million, at 80 sen apiece. Of the public portion, Feytech allocated 143.32 million new shares to raise some RM114.65 million, mainly earmarked for the acquisition of land and construction of its plant. Scheduled to be listed on May 21, the group is expected to have a market capitalisation of RM674.56 million with an enlarged share capital of 843.2 million. Source: Isabelle Francis / theedgemalaysia.com

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HLIB says Genting is undervalued, target price RM7.12

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  • KUALA LUMPUR (May 10): Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks. In a technical tracker on Friday, the research house said that at its present valuation, Genting is undervalued as it does not sufficiently capture the potential recovery of both Genting Singapore (GENS) and Genting Malaysia Bhd (KL:GENM). “Moreover, Genting is currently trading at an 8% discount to the assessed value of its stake in GENS. “Genting is building a base at RM4.47-4.53 support region, with indicators showing uptick bias. “A successful breakout at RM4.60 will spur the share price towards RM4.79-4.86-4.95. Cut loss at RM4.36,” it said. Source: Surin Murugiah / theedgemalaysia.com

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MAA loans RM13.5 mil to KNM for working capital

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  • KUALA LUMPUR (May 9): MAA Group Bhd (KL:MAA), a substantial shareholder of KNM Group Bhd (KL:KNM), has extended a RM13.5 million loan to address the working capital requirements of the Practice Note 17 (PN17) company. The loan, bearing an interest rate of 12% per annum, was provided to KNM's wholly-owned subsidiary, KNM Process Systems Sdn Bhd (KNM PS) on May 8. The loan's duration does not exceed 12 months from its disbursement date, according to MAA’ filing. KNM PS posted a loss after taxation of RM181.8 million and net assets of RM1.2 billion for the 18-month financial period ended Dec 31, 2023. This financial support is considered to involve related parties, as Tunku Datuk Yaacob Khyra, KNM group non-executive chairman, who holds an 11.75% stake in KNM, also controls a 41.82% stake in MAA through Melewar Equities Sdn Bhd and Melewar Acquisitions Ltd. The bulk of Yaacob's stake in KNM is held via MAA, which in turn holds an 8.83% direct and a 1.98% indirect stake in the PN17 company. Just three months ago, MAA provided a RM2.1 million loan to cover the salary of KNM’s CEO Ravindrasingham Balasingham. MAA has been loss-making for three consecutive quarters. For the second quarter ended Dec 31, 2023 (2QFY2024), MAA posted RM2.5 million net loss versus RM8.48 million net profit a year ago as revenue declined to RM66.49 million from RM71.47 million previously. Shares of KNM, which has fallen over 22% year to date, closed unchanged at seven sen on Thursday. This values the group at RM283.21 million. MAA shares were half a sen or 1.27% lower to close at 39 sen, giving it a market capitalisation of RM101.57 million. Source: Syafiqah Salim / theedgemalaysia.com

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Kerjaya Prospek shares at fresh record high on expectation of better 1Q earnings

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  • KUALA LUMPUR (May 9): Shares of Kerjaya Prospek Group Bhd (KL:KERJAYA) surged to a new record high on Thursday, as investors bet on better earnings growth for its upcoming financial results for the first quarter ended March 31, 2024 (1QFY2024). In early trade on Thursday, the construction firm rose as much as 1.65% or three sen to its all-time high of RM1.85 a share — breaking its RM1.82 record on Monday — after 286,400 shares were traded. At this price, the stock is valued at RM2.34 billion. The counter has jumped 19.74% year to date and surged 62.5% in the last one year. Kerjaya Prospek’s 1QFY2024 core profit is expected to be between RM34 million and RM36 million, which translates to a growth of 21% to 28% year-on-year and 3% to 9% quarter-on-quarter, RHB Investment Bank (RHB IB) said in a results preview note. RHB IB forecast Kerjaya Prospek’s three-year earnings from FY2023 to FY2026 at a compound annual growth rate (CAGR) of 12%, based on its steady job replenishment trends and better property development contributions. Kerjaya Prospek’s FY2024 dividend yield is also attractive and higher than most of its peers at 4.4%, RHB IB noted. Meanwhile, some of the job replenishment that should be on the lookout are the Seri Tanjung Pinang phase 2 (STP2) development in Penang — RM1.8 billion jobs secured cumulatively — and the Bukit Bintang City Centre (BBCC) project, previously clinched close to RM600 million of contracts.

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IT services firm Go Hub Capital gets Bursa Malaysia nod for ACE Market listing

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  • KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia. The approval marks another step forward for Go Hub’s initial public offering (IPO) since the company filed its prospectus exposure on Oct 12, 2023. “Securing the listing on ACE Market marks a significant milestone for Go Hub, as we continue to expand our market presence in the local transportation segments,” Go Hub’s executive director and chief executive officer Tan Cherng Thong said in a statement. Go Hub is mainly involved in providing enterprise IT services with a focus on transportation sector. This includes the development of customised software systems and the integration of hardware and software systems in the bus and rail segments. According to Go Hub, the IPO will involve the issuance of 107.18 million new ordinary shares. Of these, 20 million shares will be made available to the Malaysian public, 12 million shares will be reserved for eligible directors and employees, and 75.18 million shares will be allocated for private placement to institutional and selected investors. Go Hub plans to use the IPO proceeds for business expansion, repayment of bank borrowing, and as working capital. On the financial front, Go Hub’s earnings have risen over the past three financial years, with the company reporting a profit after tax of RM6.06 million in FY2022, compared to RM2.41 million in FY2021 and RM2.27 million in FY2020. Revenue has also grown, reaching RM26.55 million in FY2022, up from RM20.31 million in FY2021 and RM18.97 million in FY2020. Source: Luqman Amin / theedgemalaysia.com

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Bursa Malaysia shares rise as MIDF sees better prospects on local trading

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  • KUALA LUMPUR (May 8): Shares of Bursa Malaysia Bhd (KL:BURSA) extended their gain on Wednesday, after MIDF said it foresees a good prospect for trading activities on Bursa Malaysia Securities Bhd this year, as Malaysian stocks hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7). The stock exchange operator was among gainers on the exchange after it rose as much as 11 sen or 1.40% to its three-year high of RM7.98 in early trades. At noon break, the counter pared gains to RM7.94, with 2.37 million shares traded. At this price, the stock is valued at RM6.43 billion. Bursa’s share price has also surpassed the consensus 12-month target price (TP) of RM7.71, according to Bloomberg. The counter has risen 14.88% since the beginning of this year, and 26.39% in the last one year. There are 15 institutional analysts covering Bursa, with six “buy” recommendations, seven “hold” ratings, and two “sell” calls, according to Bloomberg. The research house, which maintained its “buy” call with a TP of RM8.20 on Bursa, foresees that expectations of US rate cuts will lead to positive sentiment, especially among foreign investors, which will drive better market valuations. “We have seen better trading activities thus far this year, on the back of the expectation of US Fed (Federal Reserve) rate cuts. Bursa Malaysia is well-positioned to continue developing the marketplace and make further progress of its strategic plans,” it said. MIDF remains optimistic despite the ongoing global and local developments that continue impacting the volatility and performance of the securities and derivatives markets in the near term. On Tuesday, Malaysian stocks hit RM2 trillion in market capitalisation for the first time ever, on the back of broad gains in blue chip stocks and a slew of new listings. Source: Anis Hazim / theedgemalaysia.com

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Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

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  • KUALA LUMPUR (May 8): The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd has closed with the offeror raising its stake in the offshore support vessel operator to 56.67%. AmInvestment Bank Bhd, on behalf of Icon Offshore, informed Bursa Malaysia that the mandatory general offer (MGO) by Singaporean trading and logistics firm Liannex Corp (S) Pte Ltd had closed at 5pm on Tuesday. The MGO was triggered on March 26 after Liannex — a private vehicle of Yinson major shareholder Lim Han Weng and his spouse Bah Kim Lian — acquired a 50.2% stake in Icon Offshore for RM172.2 million, or 63.5 sen per share, in cash. The 50.2% stake was purchased from state-owned private equity firm Ekuiti Nasional Bhd, or Ekuinas, who still held about 5.83% after the sale. Ekuinas has held the stake for more than 10 years. Lim's 24.5% stake in Yinson is held through Liannex and Yinson Legacy Sdn Bhd, while his wife and children also own shares in the floating oil and gas asset operator. Liannex had extended an offer to acquire the remaining 49.8% stake in Icon Offshore at 63.5 sen per share as well as 100% of the group’s warrants, or 130.9 million warrants, at 0.1 sen apiece. Liannex intends to maintain Icon Offshore’s listing status. For the financial year ended Dec 31, 2023, Icon Offshore, which owns and operates among Malaysia's biggest fleets of offshore support vessels for the oil and gas industry, booked a net profit of RM4.86 million on revenue of RM199.79 million. As at end-2023, the group had net debt of RM101.4 million and accumulated losses of RM16.06 million. Shares of Icon Offshore settled 1.5 sen or 1.94% lower at 76 sen on Tuesday, giving it a market capitalisation of RM469.87 million. Year to date, the counter has risen over 33%. Source: Syafiqah Salim / theedgemalaysia.com

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Niche Capital aims to raise RM18.7m via private placement to fund mining business

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  • KUALA LUMPUR (May 6): Loss-making Niche Capital Emas Holdings Bhd has proposed to undertake a private placement of up to 135.74 million shares, or 10% of its issued share capital, to fund its mining business as well as working capital. The private placement is expected to raise RM18.7 million based on an indicative price of 13.78 sen per placement share, according to the group’s filing with Bursa Malaysia. A total RM14.6 million of the gross proceeds will be used for the construction of a gold processing plant and other infrastructure work, to acquire a heap leach gold processing plant with a capacity of 95,000 tonnes per month, as well as for further resource determination and ongoing exploration activities. The group’s filing showed that RM3.4 million of the gross proceeds will be used for working capital and RM700,000 for estimated expenses of the proposed private placement. According to Niche Capital, the average gold price has continued to rise in the past three years from US$1,799.63/oz in 2021 to US$1,800.60/oz in 2022 and US$1,942.67/oz in 2023. Further, the World Gold Council has anticipated positive developments for gold, supported by elevated geopolitical risks and the flattish US dollar, which are favourable to the group’s gold mining operation. Niche Capital has been loss making since the financial year ended June 30, 2019. For the first half ended Dec 31, 2023 (1HFY2024), the group recorded a RM6.04 million net loss against a net profit of RM1.05 million a year earlier on higher mining operating costs. Revenue for 1HFY2024, in contrast, jumped more than seven times to RM18.43 million from RM2.43 million, boosted by higher revenue from the trading of jewellery products as well as the group’s construction and services segments. Source: Syafiqah Salim / theedgemalaysia.com

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Sin-Kung IPO shares oversubscribed by 26.5 times ahead of ACE Market listing

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  • KUALA LUMPUR (May 6): Logistic services provider Sin-Kung Logistics Bhd, which is set to be listed on the ACE Market of Bursa Malaysia on May 15, said its initial public offering (IPO), priced at 13 sen apiece, had been oversubscribed by 26.5 times. By the close of its IPO application on May 2, Sin-Kung said it had received 13,179 applicants for 1.7 billion new shares from the Malaysian public for the 60 million shares it allocated for public subscription — representing an overall subscription rate of 26.5 times. Of this, 7,360 applications for 680.7 million shares were received for the Bumiputera portion, representing an oversubscription of 21.7 times. The non-Bumiputera portion drew 5,819 applications for 971.8 million shares, representing an oversubscription rate of 31.4 times. Sin-Kung's IPO involves a public issuance of 200 million new shares — representing 16.7% of the enlarged share capital of Sin-Kung Logistics — and an offer for sale of 103.5 million existing shares (8.6%). Sin-Kung Logistics currently operates five warehouses in the central and northern regions of Peninsular Malaysia, and owns about 460 commercial vehicles for its logistics business. Its major customers include airlines, sales agents of airlines, local and international freight forwarders, manufacturers and online retailers. It plans to use the RM26 million it expects to raise from the IPO to expand its warehousing and distribution services, repay bank borrowings, buy new commercial vehicles as well as for working capital and to pay for its listing expenses. The sale of existing shares is expected to gross RM13.5 million, which will go entirely to the selling shareholders Sin-Kung managing director Alan Ong and his sister Angeline Ong, who is an executive director. Based on an enlarged share capital of 1.2 billion shares, Sin-Kung Logistics is expected to have a market capitalisation of RM156 million after listing. Source: Luqman Amin / theedgemalaysia.com

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Melaka aims to boost local businesses, eyes more listings on Bursa Malaysia

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  • MELAKA (May 4): The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia. Deputy Exco of Economic Planning, Finance, Land Affairs, Non-Governmental Agencies, Investment, Industrial and Technical and Vocational Development (TVET), Datuk Khaidhirah Abu Zahar, said that currently, only 23 local companies in the state are public-listed companies (PLCs). “The Melaka state government always provides strong support... to any programmes which are aimed at enhancing business opportunities, especially for local entrepreneurs and companies registered and based in this state. “We want these companies to thrive, and this cannot be achieved without the assistance of other parties such as the state government and financial institutions,' she told reporters after officiating the ‘Workshop @ Bursa 2024’ here on Saturday. Also present was Melaka Invest chief executive officer Datuk Ginie Lim Siew Lin. Khaidhirah highlighted that the advancement of these companies not only benefits the organisations and their employees but also has a positive ripple effect throughout the economy, ultimately benefiting the broader community. Earlier, she said that the Workshop @ Bursa 2024 aimed to provide PLCs in the state with insight into investment opportunities offered by financial institutions, facilitating their future business expansion. Source: Bernama

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ACE Market-bound Farm Price’s IPO oversubscribed by 91.35 times

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  • KUALA LUMPUR (May 3): Fresh vegetables wholesaler and distributor Farm Price Holdings Bhd, which is set for listing on the ACE Market of Bursa Malaysia on May 14, said on Friday that its initial public offering (IPO) had been oversubscribed by 91.35 times. Following the close of the application period for the IPO on April 30, Farm Price said it had received 16,647 applicants for 2.08 billion new shares worth RM498.66 million from the Malaysian public for the 22.5 million shares it allocated to the Malaysian public — representing an overall oversubscription rate of 91.35 times. Of this, 9,895 applications for 1.03 billion shares were received for the Bumiputera portion, representing an oversubscription rate of 90.61 times. As for the public portion, 6,752 applications for 1.05 billion shares were received, representing an oversubscription rate of 92.08 times. The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares, as well as an offer for sale of 33 million existing shares. All in, the listing offers investors a 30% stake in the Johor-based company. Farm Price is mainly involved in the wholesale and distribution of fresh vegetables. Proceeds from the sale of new shares were expected to raise RM24.48 million, from which Farm Price plans to allocate 43% for working capital and 26% for the construction of new facilities. The company will also spend 8% of proceeds for the purchase of machinery, equipment and logistics fleet, and 7% for a planned regional distribution and procurement centre. The remaining 16% is set aside to cover listing expenses. The offer-for-sale of existing shares, meanwhile, will raise RM7.92 million that will go entirely to its selling shareholders — managing director Dr Tiong Lee Chian and executive director Liew Tsuey Er, who is also Tiong’s wife. At the listing price of 24 sen per share, the company will be valued at 12.4 times its net profit of RM8.7 million for the financial year ended Dec 31, 2023 (FY2023), which it made on a revenue of RM114.2 million. Domestic market made up 75% of its revenue, while exports to Singapore accounted for 25%. Source: Emir Zainul / theedgemalaysia.com

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UUE signs underwriting deal with M&A Securities for ACE Market IPO

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  • KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&A Securities to underwrite its initial public offering (IPO) on the ACE Market. The IPO consists of a public issue of 124.90 million new shares and an offer for sale of 37.46 million existing shares. Under the agreement, M&A Securities will underwrite 30.42 million new shares allocated to the Malaysian public and 40.59 million to eligible persons under the public issue. “The underwriting agreement represents a pivotal achievement on our journey towards our listing,” UUE’s managing firector Datuk Kenny Ting said in a statement. “Proceeds from the IPO will play a crucial role in fuelling our expansion efforts, enabling us to enhance and extend our services to both our current and prospective customers across Malaysia and Singapore.” The public issue also involves private placement of 38.57 million new shares to Bumiputera investors and 15.32 million shares to selected investors. All in all, the IPO offers investors up to 26.7% in the company that mainly provides underground utilities engineering services. Proceeds from the IPO have been earmarked for the purchase of machinery and equipment, such as horizontal directional drilling machines, lorries and excavators to cater for the ongoing and future projects to be secured. UUE will also acquire a maxi rig drilling machine which will allow the company to venture to subsea works and expand its existing suite of underground utilities engineering offerings. The remaining gross proceeds has been earmarked for general working capital, as well as estimated listing expenses in relation to the IPO. Proceeds from the offer for sale of 37.46 million existing shares, meanwhile, will accrue entirely to the selling shareholders that include Ting, according to its draft prospectus filed on Sept 12, 2023. Source: Justin Lim / theedgemalaysia.com

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Feytech's Main Market IPO to raise over RM201m

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  • KUALA LUMPUR (May 2): Feytech Holdings Bhd's initial public offer (IPO) on the Main Market of Bursa Malaysia is offering 252.94 million shares, including an offer for sale of 109.62 million, at 80 sen a piece. The IPO will raise some RM201.6 million, of which 43% or RM87.69 milion will go to two existing shareholders Tan Sun Sun and Go Yoong Cheng, both of whom are executive directors. Feytech is issuing 143.32 million new shares to raise some RM114.65 million, mainly earmarked for the acquisition of land and construction of its plant. Scheduled to be listed on May 21, the automotive cover and seat manufacturer is expected to have a market capitalisation of RM674.56 million with an enlarged share capital of 843.2 million. At its prospectus launch on Thursday, Feytech shared that the about 10.1% of the gross proceeds will be allocated to part-finance the acquisition of land in the Klang Valley and 18.4% for the construction of a new corporate office with manufacturing plant and warehouse on the land with an approximately build-up area of 85,000 sq ft. According to Feytech’s prospectus, the board plans to distribute a dividend of at least 40% of its net profits for each financial year, according to the group’s prospectus. The group declared RM11.9 million, RM9.8 million, RM15 million and RM12.7 million dividends for FY2020, FY2021 and FY2022 and FY2023, representing dividend payout ratio of 65.7%, 51.4%, 54.3% and 49.5% respectively. Source: Syafiqah Salim / theedgemalaysia.com

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Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

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  • KUALA LUMPUR (May 2): Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million. The IPO, priced at 40 sen per share, comprises entirely of 93.5 million new shares offering investors up to 25.28% of its enlarged shares, according to its prospectus launched. There is no sale of existing shares. The application will close on May 13, with the listing scheduled for May 28. The group currently has nine wholesalers and 937 dealers in Malaysia, along with 14 authorised distributors in overseas markets, including Singapore, Brunei, Indonesia, Cambodia, Vietnam, and Myanmar. Under the public issue, 18.48 million shares will be made available to the Malaysian public via balloting while 16.68 million will be allocated to selected investors. The IPO also involves private placement of 46.23 million IPO shares to Bumiputera investors and 12.1 million shares set aside for eligible persons. The company earmarked about 43% of the proceeds, or RM16 million, to partially finance the construction of a plant in Perak while RM11 million will be used for the purchase and commissioning of an automated paint production system. At the listing price of 40 sen per share, Smart Asia Chemical will be valued at 14.9 times the profit after tax of RM10 million for the financial year of 2023 after adjusting for the listing expenses incurred. The company would be valued at RM147.9 million on listing. The IPO will reduce the direct stake of managing director Goh Chye Hin to 44.5% and to 7.51% for his wife Kee Hui Lang, who is also the non-independent executive director. Based on Smart Asia Chemical’s share base of 276.35 million shares, Goh owns a 59.55% stake in the company, while Kee owns 10.05%. The 3.62% indirect stake they hold via their children is expected to be diluted to 2.7%. Source: Luqman Amin / theedgemalaysia.com

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Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

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  • KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services. Net profit for the three months ended March 31, 2024 (1QFY2024) was RM75.03 million compared to RM56.17 million over the same period last year, Bursa Malaysia said in an exchange filing. Revenue for the quarter climbed nearly 20% year-on-year (y-o-y) to RM187.2 million, from RM156.5 million. During the quarter under review (1QFY2024), earnings were primarily driven by a 23% increase in the Securities Market’s operating revenue to RM123.1 million, from RM100.0 million in 1QFY2023. Meanwhile, total operating expenses increased by 8.6% to RM87.1 million in 1QFY2024 from RM80.2 million in 1QFY2023, mainly attributed to higher staff costs and technology expenses. Trading velocity also rose by eight percentage points to 39% in 1QFY2024, from 31% in the preceding corresponding quarter. Additionally, listing and issuer services grew by 8.9% to RM16.3 million from RM15.0 million, while depository services witnessed an 18.3% increase to RM15.5 million in 1QFY2024 from RM13.1 million a year earlier. The Derivatives Market’s operating revenue rose by 12.7% to RM31.8 million from RM28.3 million in 1QFY2023, driven primarily by the rise in average daily contracts (ADC) in both crude palm oil futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI), which collectively propelled the Derivatives Market’s ADC higher by 18.0% y-o-y to 84,222 contracts in 1QFY2024. At noon break on Tuesday, Bursa Malaysia’s shares settled unchanged at RM7.45, valuing the company at RM6.03 billion. Source: Isabelle Francis / theedgemalaysia.com

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Animation production house Kucingko gets nod from Bursa for ACE Market IPO

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  • KUALA LUMPUR (April 30): Kucingko Bhd said on Tuesday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, setting it to be the first animation production studio to be listed on the Malaysian stock exchange. The approval from Bursa Malaysia marks another step forward for the IPO, since the company filed its prospectus exposure on Dec 12, 2023. “This marks the beginning of an exciting new chapter for us, as we are now poised to harness the potential of the capital markets to fuel our ambitious expansion plans, both within Malaysia and internationally,” Kucingko executive director See Chin Joo said in a statement. The IPO will involve the issuance of 200 million ordinary shares, encapsulating 40% of Kucingko’s enlarged number of issued shares, where an equal portion of 100 million shares each are available under the public issue, as well as an offer-for-sale by way of private placement to selected investors. While total expected proceeds from the IPO has yet to be disclosed, See said the company intends to utilise the funds raised to elevate its production capacity, deepen its business network in the US and reinforce its market leadership, thereby enhancing shareholder value. Kucingko derives almost 100% of its revenue from providing animation production services, primarily in international markets, including North America, Europe and Asia Pacific Its wholly owned subsidiary Inspidea Sdn Bhd produces 2D animation for animated series and animated short films, having completed 59 projects worth RM63.22 million in total during the financial years ended Dec 31, 2020 (FY2020), FY2021 and FY2022, and the six-month financial period ended June 30, 2023 (1HFY2023), with over 4,617 minutes of content. Source: Emir Zainul / theedgemalaysia.com

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Kawan Renergy sets IPO price at 30 sen apiece in bid to raise RM33m

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  • KUALA LUMPUR (April 29): Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million. The IPO is priced at 30 sen apiece and comprises a public issuance of 110 million new shares as well as an offer for sale of 34.5 million existing shares by way of private placement to selected investors. Of the 110 million new shares, 27.5 million will be made available to the Malaysia public via ballooting, while 19.3 million shares are allocated for eligible directors and employees as well as persons who contributed to the success of the group. Meanwhile, the remaining 63.2 million shares are reserved to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry. All in all, the IPO offers investors a total of 26.3% of the company’s enlarged share capital that made a profit after tax of RM13.3 million on the back of RM98.4 million revenue for the financial year ended Oct 31, 2023. Kawan Renergy, through its subsidiaries, is principally involved in the design, fabrication, installation and commissioning of industrial process equipment, process plants as well as renewable energy and co-generation plants. According to Kawan Renergy, a total of RM15 million or 45.5% of the IPO proceeds will be allocated for working capital requirements of ongoing and future co-generation plant projects, while RM10 million (30.3%) will go towards repayment of bank borrowings and defraying of listing expenses. In addition, RM5 million (15.1%) will be invested to construct a new two-megawatt biomass power plant, with RM2.5 million (7.6%) earmarked to improve the production output of the Bercham plant, a landfill biogas power plant located in Perak, while RM500,000 will be used for the purchase of additional machinery to upgrade the company’s production processes. Scheduled to be listed on the ACE Market on May 29, Kawan Renergy is expected to have a market capitalisation of RM165 million. Source: Syafiqah Salim / theedgemalaysia.com

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Mercury Securities advises investors subscribe ACE Market-bound Farm Price with fair value of 29 sen

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  • KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price. In a note on Monday, the research house said its target price earnings (PE) ratio of 13x is pegged to the average PE of FBM Small Cap Index, given no direct comparable listed peers. Mercury said despite the weaker ringgit (more than 80% of its fresh vegetables are imported), Farm Price maintained healthy gross margins of 14-20% from FY20-23, thanks to inelastic demand and frequent pricing adjustments. Mercury said with the expansion at its Senai centralised distribution centre, Farm Price will eventually add new cold room space and facilities to handle up to 40,000 pallets annually by 2026 (from about 30,000 pallets currently). It said this expansion will be crucial to support Farm Price’s future growth, as its cold room capacity was fully utilised in 2023. “Notwithstanding that, we believe the group has some room to maneuver in the near term (ie FY24-25) by implementing various storage management measures such as 1) Running extra processing shifts and facilitating additional delivery trips to free up inventory space; or 2) Renting on-site mobile refrigerated containers. The research house said post-IPO, Farm Price’s balance sheet will be stronger, with its net gearing level turning net cash. “Given the nature of its business, operating cashflow generation is expected to remain healthy, while capex spending will be funded by the IPO proceeds. “As such, we forecast that Farm Price could comfortably adopt a 30-50% dividend payout in FY24-26F,” it said. Source: Surin Murugiah / theedgemalaysia.com

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Infoline Tec seeks transfer from ACE Market to Main Market

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  • KUALA LUMPUR (April 25): Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer. In a bourse filing on Thursday, the company said the transfer will enhance its credibility and reputation, which will in turn enhance the attractiveness and marketability of its shares. The company, which was listed on July 13, 2022, said it saw an aggregated consolidated profit after tax (PAT) of RM38.26 million over the past three financial years. The company reported a PAT of RM18.35 million for the year ended Dec 31, 2023 (FY2023), RM12.12 million for FY2022 and RM7.8 million for FY2021. This meets the Securities Commission Malaysia’s requirements for the transfer which mandate an aggregate PAT of at least RM20 million over the past three financial years, with a PAT of at least RM6 million for the most recent year. Furthermore, Infoline Tec said it is in a healthy financial position with a current ratio of 3.69 times as at Dec 31, 2023. Its current assets stood at RM59.06 million, while its current liabilities stood at RM16 million. It added that it had cash and cash equivalents totalling RM19.23 million, which will provide it with sufficient working capital for at least 12 months. On its public shareholding spread, Infoline Tec said 33.9% of the issued share capital is held by 2,286 public shareholders holding not less than 100 shares each, exceeding the requirement of 25%. Shares of Infoline Tec closed unchanged at 77.5 sen on Thursday, valuing the company at RM281.5 million. The counter has gained 1.97% since the start of the year and 142.2% since its listing on the ACE Market, based on its IPO price of 32 sen.

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Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

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  • KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market. In a statement on Thursday, the company said the initial public offering (IPO) will involve the issuance of 51.7 million new shares, representing 25.5% of its enlarged share capital upon listing. Of the 51.7 million new shares, 10.1 million new shares will be available to the Malaysian public via balloting; 10.1 million new shares for its eligible directors, employees and persons who have contributed to the success of the Agricore group under pink form allocations; 25.4 million new shares have been reserved for private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (Miti), while the remaining 6.1 million new shares are earmarked for private placement to selected investors. Agricore managing director Oon Boon Khong said the IPO will facilitate the company with greater financial flexibility to pursue future growth opportunities and enhance the group’s reputation in the marketing of its products, and to retain and attract new employees. For the financial year ended 2022 (FY2022), the Agricore group had posted a net profit of RM7.12 million, on the back of a revenue of RM122.69 million. Earnings per share was 4.7 sen. Agricore is scheduled to list on the ACE Market of Bursa Securities by June 2024. Source: Surin Murugiah / theedgemalaysia.com

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CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

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  • KUALA LUMPUR (April 24): CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions. Revenue for the quarter ended March 31, 2024 (1QFY2024) rose 42.5% to RM111.88 million from RM78.49 million in 1QFY2023, said the trust's manager CapitaLand Malaysia REIT Management Sdn Bhd (CMRM) in a statement on Wednesday. Distributable income grew 69.8% to RM33.62 million from RM19.81 million, with distribution per unit (DPU) improving 36.8% to 1.19 sen from 0.87 sen. CMRM said CLMT's retail occupancy rose to 92.4% from 88.3% in 1QFY2023, while its overall portfolio occupancy improved to 93.1% as at March 31, 2024 from 92.6% as at Dec 31, 2023. CMRM chief executive officer Tan Choon Siang attributed CLMT's performance in the quarter to proactive asset management. As part of the ongoing efforts, the group recently completed refurbishment at Gurney Plaza's entrance driveway, enhancing its appearance and accessibility, he said. 'These new additions to our portfolio provide a glimpse of the refreshed tenant mix and mark the beginning of the exciting improvements to our retail portfolio that will unfold throughout the year,” Tan said. 'As we press ahead with our portfolio reconstitution strategy, we will continue to strengthen our balance sheet through disciplined capital management. We will also take proactive measures to mitigate the impact of rising costs and remain prudent in managing our expenses,” he added. At Wednesday's close, CLMT’s share price remained flat at 62 sen, with a market capitalisation of RM1.75 billion. Source: Choy Nyen Yiau / theedgemalaysia.com

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HHRG plans to raise up to RM18.14m via placement for working capital

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  • KUALA LUMPUR (April 23): HHRG Bhd, formerly known as Heng Huat Resources Group Bhd, aims to raise between RM16.1 million and RM18.14 million through a private placement of up to 10% of its expanded issued share capital to yet-to-be identified third-party investors, at a price to be fixed. In a filing with Bursa Malaysia on Tuesday, the biomass material manufacturer said proceeds from the proposed corporate exercise that would involve up to 98.03 million shares would be used for working capital in the biomass materials and value-added products segment. The range of expected proceeds to be raised is based on an indicative price of 18.5 sen per share, in either a minimum scenario (where none of its outstanding warrants and share issuance scheme options are exercised prior to the exercise), or a maximum scenario (where all the outstanding warrants and options are first fully exercised). HHRG highlighted that the proposed private placement offers a swift means of raising funds from the capital market compared to other fundraising methods. Given that the majority of the proceeds will be allocated to the group's working capital in the biomass materials and value-added products segment, HHRG said the proposed private placement would provide additional funding without incurring extra interest costs or debt repayment obligations. TA Securities has been appointed adviser and placement agent for the corporate exercise, which is anticipated to be completed within six months from the date of approval by Bursa Securities. HHRG shares closed half a sen or 2.5% higher to 20 sen, resulting in a market capitalisation of RM177.91 million. Source:

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KIP REIT’s 3Q net property income up 10.1%, to double AUM in three years

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  • KUALA LUMPUR (April 23): KIP Real Estate Investment Trust (KIP REIT), a trust which mainly manages retail and industrial properties, said its net property income (NPI) for the third quarter rose 10.1% from a year ago, mainly due to stronger performance from its retail properties. NPI for the third quarter ended March 31, 2024 (3QFY2024) rose to RM18.1 million from RM16.43 million previously, KIP REIT said in a bourse filing on Tuesday. Revenue rose 12.5% year-on-year to RM24.55 million from RM21.82 million, primarily on the back of higher contributions from the group’s four malls in the central region. A distribution per unit of 1.6 sen was declared for 3QFY2024, payable on May 28, 2024. Looking ahead, KIP REIT chief executive officer (CEO) Valerie Ong Pui Shan said the group maintains a positive outlook buoyed by its portfolio’s strong performance, coupled with strategic initiatives to enhance leasing and operational efficiencies, as well as asset enhancement initiatives in place. As at end-March 2024, KIP REIT’s AUM stood at RM1.06 billion, comprising 11 properties — three industrial properties in Pulau Indah; seven KIPMalls in Bangi, Tampoi, Kota Tinggi, Masai, Senawang and Melaka; and the AEON Mall Kinta City in Ipoh. The portfolio’s average occupancy rate stood at 94%. Looking to the cumulative nine months ended March 31, 2024 (9MFY2024), KIP REIT’s NPI climbed 11.9% to RM51.39 million from RM45.92 million a year earlier, while revenue rose 13.3% to RM69.52 million, as compared to RM61.36 million previously. Shares in KIP REIT closed unchanged at 90 sen on Tuesday, giving the investment trust a market capitalisation of RM556.77 million. Source: Izzul Ikram / theedgemalaysia.com

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Topmix surges 32% on ACE Market debut

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  • KUALA LUMPUR (April 23): Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million. Topmix opened at 41 sen on a volume of 12.24 million shares versus its IPO price of 31 sen per share before climbing as high as 45.5 sen on Bursa Malaysia. The stock was trading at 44 sen at 9.10am after 56.14 million shares changed hands. The country’s benchmark index was up 0.2%. Demand from investors was strong during its IPO, with the public tranche oversubscribed by 58.61 times. The Bumiputera portion was oversubscribed by 51.86 times while the other public category was oversubscribed by 65.26 times. Topmix mainly sells so-called high-pressure laminate (HPL) products used in kitchen and office cabinets as finishing under its own brand as well as in collaboration with third-party decor paper suppliers. The sale of new shares raised RM25.6 million, of which RM11.3 million or 44.2% has been earmarked for general working capital. The company also plans to use 23.3% of the proceeds for business expansion. Topmix also allocated 20.8% to expand into the assembly of melamine-faced chipboard products while the remaining 11.7% will be used to defray listing expenses. The offer-for-sale, meanwhile, raised RM6.10 million, which will accrue entirely to selling shareholders Teo Quek Siang, who is also the managing director, and executive director Tan Lee Hong. For the fourth quarter ended Dec 31, 2023 (4QFY2023), the group reported a net profit of RM2.84 million on the back of RM21.64 million revenue. For FY2023, Topmix registered a net profit of RM8.39 million on the back of RM72.68 million revenue, primarily due to the sales of HPL products, which represented 95.15% of the total revenue. Source: theedgemalaysia.com

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Malaysia needs more start-ups, high-tech companies to be listed on Bursa — Rafizi

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  • KUALA LUMPUR (April 22): There is a limited number of start-ups or high-tech companies poised for listing on Bursa Malaysia, as the majority of corporations in Malaysia remain in traditional sectors, said Economy Minister Mohd Rafizi Ramli. Despite Malaysia's strength in the electrical and electronics industry as a global exporter, he said only 4% to 5% of high-tech companies are listed on the local bourse. “It's a pity because this country is globally recognised as one of the most important semiconductor players in the world,” he said at a KL20 Summit 2024 session “From Malaysia to the world, open for tech business”, here on Monday. Rafizi said there is a need for a pipeline of tech and start-up companies ready for listing to enhance Malaysia’s business ecosystem. He emphasised that the government's interest extends beyond monetary investment in start-ups and is instead seeking early success stories to attract tech talent from around the world to Malaysia. Meanwhile, Khazanah Nasional Bhd managing director Datuk Amirul Feisal Wan Zahir suggested ensuring the availability and continuity of capital to reduce the concerns among start-ups. 'Not only is Malaysia an interesting market, but I also believe that if we can address the capital problem, we will foster a culture of risk-taking that can yield significant outcomes for the people who reside here,' Kuok adde. Source: Bernama

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Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

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  • KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd. The group, which expects to complete the transfer by the fourth quarter of 2024, said the resolutions pertaining to the transfer were unanimously approved by shareholders at an extraordinary general meeting on Friday. In a statement, LSH Capital said the resolutions include the listing of the group’s entire enlarged issued share capital on the ACE Market, as well as a proposed public offering involving up to 191 million shares, representing approximately 22.78% of its enlarged issued shares. The public offering involves the issuance of 132 million new shares and an offer for sale of up to 59 million existing shares. The group intends to utilise the proceeds from the public offering for working capital in LSH Capital’s construction projects, repayment of borrowing, and covering the expenses for the exercise. “This corporate exercise will further enhance our credibility, prestige and reputation, and accord us with greater recognition among investors, particularly institutional investors, while reflecting the current scale of operations of our group,” said LSH Capital non-executive chairman Tan Sri Lim Keng Chen. “This, in turn, is expected to enhance the attractiveness and marketability of our shares,” Lim added. Choy Nyen Yiau / theedgemalaysia.com

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Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

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  • KUALA LUMPUR (April 19): MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30. The 51.2 million IPO shares made available for the Malaysian public received a total of 9,510 applications for 482.88 million issue shares, valued at RM299.39 million, according to its statement on Friday. For the Bumiputera portion, a total of 4,628 applications for 220.24 million shares were received, which represents an oversubscription rate of 7.6 times. For the public portion, a total of 4,882 applications for 262.64 million shares were received, which represents an oversubscription rate of 9.26 times. MKH Oil Palm, the plantation arm of property developer MKH Bhd, aims to raise up to RM155.43 million from its Main Market IPO. Based on the IPO price of 62 sen apiece, the group will have a market capitalisation of RM634.6 million. The group owns two oil palm plantation estates with a total land area of 18,205.3 hectares, one palm oil mill and one jetty. For the financial year ended Sept 30, 2023 (FY2023), the company’s net profit dropped 45% to RM30.4 million, from RM55.5 million previously (FY2022), due to rising operating costs amid an increase in operational activities, driven by more favourable weather conditions. FY2023 revenue rose 7% to RM337.98 million, from RM315.82 million in FY2022, contributed 100% by sales derived in Indonesia. Source: Syafiqah Salim / theedgemalaysia.com

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Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

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  • KUALA LUMPUR (April 18): Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market The IPO, priced at 13 sen apiece, involves public issue of 200 million new shares and an offer for sale of 103.5 million existing shares, according to the prospectus unveiled on Thursday. All in all, the IPO is offering up to a 25.3% stake in the company. Applications for the IPO will close on May 2 and listing has been scheduled for May 15. The public issue consists of 60 million shares to the public, and 45 million shares to eligible persons, with the remaining 95 million shares reserved for private placement to Bumiputera investors. Proceeds from the public issue totalling RM26 million have been earmarked for the expansion of warehousing and distribution services, repayment of bank borrowings, purchase of commercial vehicles, working capital, and to defray estimated listing expenses. The offer-for-sale tranche meanwhile sets aside 55 million existing shares for Bumiputera investors, and another 48.5 million shares for selected investors, both to be done through private placement. The sale of existing shares is expected to gross RM13.5 million, which will go entirely to the selling shareholders Sin-Kung managing director Alan Ong and his sister Angeline Ong, who is an executive director. Source: Jason Ng / theedgemalaysia.com

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OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

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  • KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion. OB Holdings is targeting listing in the fourth quarter of 2024, the company said in a statement. The approval from Bursa Malaysia marks another step forward for the IPO since the company filed a draft prospectus on Oct 16, 2023. “This IPO approval marks an important milestone in our history, and allows us to embark on our next phase of growth,” said managing director Teoh Eng Sia. The company mainly manufactures the so-called fortified food and dietary supplements under various house brands, as well as for third-party brand owners. OB Holdings also offers contract packing services for various products such as milk powder, tea leaves, honey, herb powder, fruit powder, and liquid chlorophyll into retail packaging sizes, along with the trading of milk powder and other activities. The IPO involves a public issue of 120.00 million new ordinary shares, offering investors a 30.64% stake in the company, according to its draft prospectus. There is no sale of existing shares. Teoh and his wife Wong Chung Theng each currently own 50% in the company that made RM9.57 million in profit after tax, on the back of a RM46.45 million revenue in the year ended May 31, 2023. Proceeds from the IPO have been earmarked for repayment of bank borrowings, purchase of machines, product development, marketing and advertising, and for working capital requirements, as well as to defray listing expenses. Source: Jason Ng / theedgemalaysia.com

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Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO

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  • KUALA LUMPUR (April 18): Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad. In a statement on Thursday, Feytech, which is mainly an automotive cover and seat manufacturer, said its customers in the original equipment manufacturer (OEM) market segment comprises automotive vehicle OEMs such as Mazda Malaysia (for Mazda 3, CX-5, CX-8 and CX-30 car models) and Kia Malaysia (for Kia Carnival and Sorento car models), as well as Tier 1 automotive seat and/or interior part manufacturers which serve local automotive vehicle OEMs, such as Mazda and Hyundai. The IPO entails a public issue of 143.32 million new ordinary shares and an offer for sale of 109.62 million existing shares. Of the 143.32 million public issue shares, 42.16 million shares will be made available to the Malaysian public via balloting, 25.29 million shares will be allocated to the eligible directors, employees and persons who have contributed to the success of Feytech, while the remaining 75. 87 million shares will be allocated by way of private placement to selected investors. Proceeds from the IPO will be utilised to part finance the acquisition of land and construction of a new corporate office with manufacturing plant and warehouse in Klang Valley with an approximately built-up area of 85,000 sq ft. Feytech executive director cum chief executive officer Connie Go said the IPO proceeds will assist in the group’s expansion locally where it hopes to grow and expand its services to existing and target customers within the region. For the financial year ended 2022, Feytech posted a net profit RM27.69 million on the back of revenue RM126.88 million. Earnings per share was 3.9 sen (pre-IPO) and 3.3 sen (post-IPO). Source: Surin Murugiah / theedgemalaysia.com

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Keyfield International’s 4Q net profit surges 72% ahead of Main Market listing

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  • KUALA LUMPUR (April 17): Keyfield International Bhd, an oil and gas services firm en route to Bursa Malaysia’s Main Market, reported a 72.43% surge in its fourth-quarter net profit, driven by higher vessel utilisation and charter rates. Net profit for the three months ended Dec 31, 2023 (4Q2023) totalled RM22.12 million, compared to RM12.83 million in the same period a year earlier, Keyfield said in an exchange filing. Revenue grew 76.82% year-on-year to RM119.53 million from RM67.6 million. Looking ahead, Keyfield expects supply conditions for offshore vessels, particularly accommodation workboats which the group specialises in, to remain tight in 2024 due to a shortage of suitable vessels to support offshore activities. Keyfield‘s trading debut is scheduled for April 22, after the company raised RM188 million from the second Main Market initial public offering so far this year, following Prolintas Infra Business Trust's debut on March 25. The IPO was oversubscribed nearly 10 times by the Malaysian public. At an IPO price of 90 sen per share, Keyfield is valued at RM720 million. The average daily charter rate for the company’s own vessels in 4QFY2023 increased by 16.6% compared to 4QFY2022, attributed to improved market conditions in the vessel chartering business. Meanwhile, the number of chartered days for third party vessels rose to 540 from 331. Average DCR also increased by 6.2% compared to a year earlier. The company chartered a total of eight third-party vessels in 4Q2023 as compared to five in 4Q2022. For the full FY2023, Keyfield’s net profit more than doubled to RM105.48 million from RM48.88 million. Revenue soared by 82.24% to RM430.45 million from RM236.2 million. Source: Syafiqah Salim / theedgemalaysia.com

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KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

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  • KUALA LUMPUR (April 16): KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd. In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively. Pursuant to the underwriting agreement, M&A Securities will underwrite a total of 80 million new shares made available to the Malaysian public and pink form allocations. The remaining 80 million new shares will be placed out to Bumiputera investors approved by the Ministry of Investment, Trade and Industry (Miti). As for the offer for sale portion, 20 million shares are reserved for private placement to Bumiputera investors approved by Miti while the remaining 25 million shares will be allocated by way of private placement to selected investors. Loke said the company has a proven track record as a design-and-build contractor to Lembaga Pembangunan Perumahan dan Bandar (LPPB), the state agency in Sabah. “As for our own property development projects, since 1998 we have completed several residential and commercial projects worth RM207.6 million GDV, directly and through joint ventures,” he said. Currently, KTI has a total of RM2.3 billion GDV on-going and upcoming projects across Kota Kinabalu, Tuaran, Sandakan and Papar in Sabah, where 30% are projects awarded by LPPB and the remaining are joint venture or its own projects to be developed until 2031. The company’s notable projects include among others Taman Wawasan in Beaufort, Taman La Gloxinia in Papar, Taman Seri Lemawang in Tuaran as well as Taman Nelly, Taman Lavender and The Logg in Kota Kinabalu. KTI targets to list on the ACE Market of Bursa Securities by June 2024. Source: Murugiah / theedgemalaysia.com

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Carlo Rino files draft prospectus for listing transfer to ACE Market

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  • KUALA LUMPUR (April 16): Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market. The IPO involves a public issue of 171.87 million new shares and an offer for sale of up to 87.98 million existing shares, according to the draft prospectus filed with Bursa Malaysia. All in all, the listing would offer investors a 26.58% stake at an undisclosed price in the company listed on the LEAP Market since November 2018. For its financial year ended June 30, 2023, the company made a net profit of RM23.85 million on the back of RM113.53 million revenue. Gross profit margin was 61.71% while profit before tax margin was 27.7%. Under the proposed public issue, the company has set aside 48.88 million new shares for the public, 800,000 shares for eligible persons, and 122.19 million shares through private placement to Bumiputera investors. Proceeds from the public issue have been earmarked for construction and the fitting out of a new flagship boutique, refurbishment of existing boutiques and counters at departmental stores, as well as for maintenance of IT infrastructure. The company also allocated some of the proceeds as working capital including advertising and promotion expenses, and to defray listing expenses. Source: Jason Ng / theedgemalaysia.com

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Frozen food distributor Supreme Consolidated eyes ACE Market listing to raise funds

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  • KUALA LUMPUR (April 15): Supreme Consolidated Resources Bhd, a distributor of frozen food products, has filed for an initial public offering (IPO) of 70 million shares on Bursa Malaysia’s ACE Market to raise funds for warehouse facilities expansion and working capital. The retail offering comprises 8.6 million shares for application by the public and 7.65 million shares for application by directors, employees and business associates of the company, according to the draft prospectus. The remaining 53.75 million shares will be placed out to Bumiputera investors approved by the Ministry of Investment, Trade and Industry. BNDM Incorporated Holdings Sdn Bhd and Lim Ah Ted are the largest shareholders of Supreme Consolidated, holding 40.67% and 26.25% stakes respectively. After the IPO, their deemed interest will be diluted to 34.05% for BNDM and 21.98% for Lim. Supreme Consolidated said it plans to use the IPO proceeds for the expansion of its warehouse facility, which will serve as an additional distribution centre for the company and cater to the expansion of its products. The company also plans to allocate some of the IPO proceeds for its day-to-day operations. For the financial year ended Sept 30, 2023 (FY2023), Supreme Consolidated posted a profit after tax (PAT) of RM9.22 million, up 13% from RM8.16 million in FY2022, while revenue declined 4% to RM199.64 million from RM209.95 million. For FY2021, the company recorded a PAT of RM7.65 million on revenue of RM187.5 million. The company said it envisages paying dividends of up to 50% of its annual PAT, subject to its financial performance, cash flow, and capital requirements. Source: Luqman Amin / theedgemalaysia.com

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Kumpulan Kitacon secures LOA worth RM135 mil for building works in Ijok

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  • KUALA LUMPUR (April 15): Kumpulan Kitacon Bhd has secured a letter of award (LOA) of main building works for a contract worth RM134.8 million in Ijok, Selangor. In a bourse filing on Monday, Kitacon said its unit Kitacon Sdn Bhd has accepted the LOA from Tropicana Alam Sdn Bhd for the proposed construction and completion of Phase 1 (Avisa) of the works. Phase 1 (Avisa) comprises the following works: i) 399 units of double storey terrace houses (20’ x 70’); ii) 32 units of double storey terrace houses (22’ x 70’); and iii) Three units of TNB substations (double chamber) on part of Lot 33962 (Plot C), Persiaran Puncak Alam 6, 42300 Bandar Puncak Alam, Mukim Ijok, Daerah Kuala Selangor, Selangor Darul Ehsan. Kitacon said the 22-month contract will commence on April 18 this year. The company said the contract is expected to contribute positively to its earnings for the financial years ending Dec 31, 2024 onwards, until the expiry of the contract. At midday break on Monday, Kitacon added 0.74% or 0.5 sen to its share price to 68.5 sen, with 26,800 shares traded.

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Mercury Securities values Main Market-bound MKH Oil Palm at 80 sen

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  • KUALA LUMPUR (April 12): Mercury Securities Sdn Bhd has recommended investors to subcribe to Main Market-bound MKH Oil Palm (East Kalimantan) Bhd (MKHOP) at 62 sen a share, with a fair value of 80 sen based on 14 times earnings per share forecast for the financial year ending Dec 31, 2024 (FY2024), translating into a 29% upside to the initial public offering (IPO) price. In an IPO note on Friday, the research house said its target price-earnings (P/E) is at a 25% discount to Malaysian peers' average P/E, considering MKHOP’s smaller market capitalisation. “We like MKHOP for the favourable age profile and superior fresh fruit bunch (FFB) yield of its plantations, which would be a compelling play should crude palm oil (CPO) prices remain high,” it said. Mercury Securities said despite achieving better average selling prices (ASPs), margins for MKHOP had been on a downtrend since FY2021 mainly due to a spike in fertiliser and labour costs. “We see FY2024 as a key turning point for the company, as a combination of favourable CPO prices and lower production cost (fertilisers and fuel) should help to significantly boost MKHOP’s earnings before interest and tax margin recovery to 22% to 24% in FY2024-25 (from a low of only 14% in FY2023). “Based on market forecasts, we assume MKHOP will achieve a stable CPO ASP (Indonesian domestic price) of RM3,500/3,400 per tonne in FY2024-25 (versus RM3,350/tonne realised in FY2023). For sensitivity analysis, we estimate that for every RM100/tonne increase in our CPO price assumptions, MKHOP’s FY2024-25 earnings will rise by 3% respectively. “Risk factors for MKHOP include: i) fluctuations in market prices of CPO and palm kernel; and ii) adverse weather conditions affecting the FFB yield,” the research house said. Source: Surin Murugiah / theedgemalaysia.com

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3Ren files for ACE Market IPO to raise funds for new engineering centres

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  • KUALA LUMPUR (April 4): Engineering services firm 3Ren Bhd has filed for an initial public offering (IPO) on Bursa Malaysia’s ACE Market to raise more funds for expansion, including setting up new delivery centres and an office in Singapore. The proposed IPO involves a public issue of 110 million new ordinary shares, as well as an offer for sale of 45 million existing shares, according to its draft prospectus on Bursa Malaysia. All in all, the listing would offer investors up to a 23.84% stake in the company. “We intend to set up our own dedicated delivery centres to specifically undertake certain product engineering services projects which are usually performed at various locations of our customers,” 3Ren said. The company’s fully-owned subsidiaries — Sophic Automation Sdn Bhd, Sophic MSC Sdn Bhd and Pinkypye Sdn Bhd — are involved in automation solutions, precision machining and engineering services. For the nine-month period ended Sept 30, 2023, the company posted a net profit of RM6.58 million, up 14.6% from RM5.74 million in the corresponding period of the previous year. Revenue was down 8.4% year-on-year to RM67.18 million from RM73.37 million. For the public issue, 3Ren is offering 32.5 million shares to the Malaysian public, 30 million shares to eligible persons, 3.8 million to Bumiputera investors, and 43.7 million to select investors through private placement. The offer for sale tranche will be done through private placement to select Bumiputera investors Proceeds from the IPO will be allocated towards establishing an office in Singapore and funding research and development initiatives. The company will spend some of the funds raised for repayment of bank borrowings, as working capital and on listing expenses. Meanwhile, the proceeds from the offer for sale will accrue entirely to the offerors, including chief executive officer Koh Dim Kuan, executive director Lee Chee Hoo, business development manager Low Chee Onn and shareholder Malaysian Technology Development Corporation. Source: Hee En Qi / theedgemalaysia.com

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Sanitary ware provider Sorento Capital eyes ACE Market listing

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  • KUALA LUMPUR (April 4): Sorento Capital Bhd, a distributor of bathroom and kitchen sanitary ware products, has filed for an initial public offering (IPO) on Bursa Malaysia’s ACE Market to raise funds for its expansion. The IPO is expected to involve a public issuance of 155 million new shares and an offer for sale of up to 74 million existing shares, according to the draft prospectus filed with Bursa Malaysia. Under the public issue, 43 million shares will be made available to the public while 16 million shares have been set aside for eligible directors, employees and persons who have contributed to the group’s success. The remaining 96 million will be offered via a private placement to Bumiputera investors as approved by the Ministry of Investment, Trade and Industry (Miti). Of the offer for sale, 62.5 million shares will be allocated to selected investors and 11.5 million to Bumiputera investors as approved by Miti, both by way of private placement. Sorento said the funds raised from the IPO will be go towards advertising and branding initiatives and expanding its dealer network, with plans to enlist 200 new dealers nationwide within the next three years. The money will also be used to repay bank loans and bolster working capital for inventory procurement. The group, through its wholly-owned subsidiaries Sorento Sdn Bhd, Beyond Bath Sdn Bhd, Nautical Sanitaryware Sdn Bhd, Ideal Bath Sdn Bhd and Mocha Sdn Bhd, has an extensive range of bathroom and kitchen sanitary ware products under its house brands Sorento, Mocha, Cabana and i-Born. Sorento is also the authorised distributor in Malaysia for two foreign third-party brands of bathroom and kitchen sanitary ware products, namely Bravat and Infinity. For the financial year ended June 30, 2023 (FY2023), the group’s net profit jumped 95.65% to RM24.93 million from RM12.74 million a year earlier as revenue grew 23.84% to RM112.31 million from RM90.69 million. Source: Syafiqah Salim / theedgemalaysia.com

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CPO futures extend bullish run amid rising oil prices

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  • KUALA LUMPUR (April 3): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued its rally on Wednesday to close above RM4,400 a tonne following a surge in crude oil prices, said a dealer. Palm oil trader David Ng said the expectation of better demand in coming weeks was also seen as lifting market sentiment. “We see support at RM4,300 a tonne and resistance at RM4,500 a tonne,” he told Bernama. At the time of writing, Brent crude oil rose 1.01% to US$89.92 per barrel, while the West Texas Intermediate climbed 1.02% to US$86.02 per barrel. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said CPO futures were seen extending its bullish run to eventually cross the psychological resistance following strength in the Chinese vegetable oil futures in Asian hours and Chicago Board of Trade (CBOT) soyabean oil’s performance overnight. He said the strong CPO fund activity, expectations of easing Malaysian palm oil inventories and a lower-than-expected production growth had been seen supporting palm oil. A strong export performance in March added to the bullish sentiment. At the close, the spot month April 2024 contract jumped RM115 to RM4,579 a tonne, May 2024 rose RM84 to RM4,479 a tonne, June 2024 increased RM95 to RM4,407 a tonne, and July 2024 gained RM107 to RM4,336 a tonne. August 2024 and September 2024 added RM117 each to RM4,261 a tonne and RM4,197 a tonne, respectively. Total volume grew to 141,691 lots from Tuesday’s 64,463 lots, while open interest widened to 283,241 contracts from 282,362 contracts previously. The physical CPO price for April South rose RM110 to RM4,580 a tonne from RM4,470 a tonne on Tuesday. Source: Bernama

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MDC delays IPO plan amid digitalisation challenges

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  • KUALA LUMPUR (April 3): Hospital operator MDC Asia Link Bhd (MDC) said on Wednesday that its plan for an initial public offering (IPO) in Bursa Malaysia this year will be delayed due to digitalisation challenges. “We are aware that competing in the healthcare industry is challenging without an integrated digital system for our clinic operations” MDC founder and chief executive officer Dr Aslan Bacho said during the signing ceremony of business partnership with digital health service provider UCrest Bhd on Wednesday. The partnership with UCrest will adopt the iMedic platform as the clinic management system (CMS) for its dental business operation by using artificial intelligence (AI) and internet of medical things (IoMT). iMedic will be used to manage the patients through a mobile app which will allow them to track the related vital signs, biomarkers and lifestyle that can affect the oral health and manage their dental care plan. “We hope this partnership will accelerate business model refinement, enhance customer relations, and improve overall company valuation for MDC,” Aslan said. Originally targeted for early this year, Aslan said the group is now looking forward to executing the IPO plan within the next three years, leading up to 2026. The group had in 2022 said its intention to become a public-listed company after officiating the opening of its maternity hospital and MDC Pusrawi confinement centre in Kota Damansara, Petaling Jaya. As part of its growth strategy, MDC plans to establish a specialist dental hospital, four maternity hospitals, and 99 dental and medical clinics by 2025. Currently, MDC operates 25 dental clinics primarily in the Klang Valley area, with a special focus on paediatrics dental care, general dentistry, and orthodontic services. Source: Luqman Amin & Anis Hazim / theedgemalaysia.com

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Sersol seeks to raise RM8.5m via private placement for working capital

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  • KUALA LUMPUR (April 2): Chemical manufacturer Sersol Bhd is looking to raise up to RM8.5 million via a private placement of 85 million new shares or not more than 10% of its issued shares for working capital purposes. The issue price is set to be determined later, the group said in a bourse filing on Tuesday. For illustrative purposes, however, the group has assumed an issue price of 10 sen per share, which represents a discount of 9.83% to the five-day volume weighted average market price of the shares up to Tuesday of 11.09 sen. Previously, Sersol raised RM19.39 million in 2022 from two rounds of equity fundraising exercises, with RM15.56 million raised in April and RM3.83 million in October. However, this fell short of its initial proposal which aimed to raise up to RM26.49 million in total. For the just announced placement, Sersol said the bulk of the proceeds will be used for its working capital as it intends to increase its holdings of raw materials such as resin, solvent and hardener for the manufacturing of its existing product offerings. Sersol has changed its financial year to June 30 from Dec 31. Prior to that, the group had been in the red for three financial years, with a net loss of RM1.8 million in FY2021, RM15.6 million in FY2022, and RM16.3 million in FY2023. For the fourth quarter ended Dec 31, 2023, Sersol saw its net loss narrow to RM3,000 from RM13.75 million a year earlier. Quarterly revenue stood at RM4.07 million, down 23.6% from RM5.32 million previously. Sersol's substantial shareholders include Sanston Financial Group with a 26% stake, Hillcove Sdn Bhd with 13.7%, Justin Lim Hwa Tat with 12.8% and Morgan Stanley with 6.6%. Lim was the group’s previous chief executive officer. He was fired by the group in November 2023 after being suspended for allegedly showing insubordination and failing to act as a responsible CEO. At Tuesday's market close, shares of Sersol Bhd remained unchanged at 10 sen, valuing the group at RM73.1 million. The counter has lost three sen or 23.1% since the start of the year and six sen or 37.5% over the past 12 months. Source: Hee En Qi / theedgemalaysia.com

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MHC Plantations, Cabnet, Haily, NCT Alliance, SNS Network, Success Transformer

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  • KUALA LUMPUR (April 2): theedgemalaysia.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Tuesday. One stock showed positive momentum, while five stocks showed negative momentum. The stock with positive momentum was: MHC Plantations Bhd — down 0.93% or one sen at RM1.07 The stocks with negative momentum were: Cabnet Holdings Bhd — up 1.67% or half a sen at 30.5 sen, Haily Group Bhd — up 7.29% or 3.5 sen at 51.5 sen, NCT Alliance Bhd — up 6.67 or three sen at 48 sen, SNS Network Technology Bhd — up 20.69% or six sen at 35 sen, Success Transformer Corp Bhd — up 7.78% or 6.5 sen at 90 sen. The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum. This list is not a buy or sell recommendation. It merely tells you which stocks are seeing higher-than-normal volume and price movements. The share price may move up or down from this point. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell. Note also that momentum generally only persists for a short period of time. However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum. Source: Anis Hazim / theedgemalaysia.com

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Johor Plantations Group gets SC's nod for Main Market listing

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  • KUALA LUMPUR (April 2): Johor Plantations Group Bhd (JPG), formerly known as Johor Plantations Bhd, has obtained approval from the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia Securities Bhd. In a statement on Tuesday, the upstream oil palm plantation company said that pursuant to the listing, its initial public offering (IPO) of up to 875 million shares will comprise a public issue of 464 million new shares, and an offer for sale of up to 411 million existing shares. It said of these 875 million shares, up to 485 million will be made available to Malaysians and foreign institutions, 312.5 million will be allocated to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, 50 million shares will be made available for application by the Malaysian public by way of balloting, while the remaining 27.5 million shares will be earmarked for eligible persons who have contributed to the success of the group. JPG managing director Mohd Faris Adli Shukery said the company is poised to expand into the downstream segment of the plantation business, and diversify its product offerings to include specialty oils and fats for food production. Mohd Faris said JPG will strategically utilise part of the IPO proceeds to construct an integrated sustainable palm oil complex, while ensuring business continuity through disciplined replanting strategies. “Given our reputable track record and established integrated business model, we are confident in our future growth trajectory, and will remain steadfast in our commitment to delivering excellence while adhering to sustainable plantation practices,” he said. RHB Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for the IPO exercise. Source: Surin Murugiah / theedgemalaysia.com

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ACE Market-bound Sin-Kung Logistics signs underwriting agreement with M&A Securities

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  • KUALA LUMPUR (April 1): Sin-Kung Logistics Bhd said on Monday it had signed an underwriting agreement with M&A Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market. The agreement marks another step forward for the IPO since the company, which mainly provides trucking services focusing on airport-to-airport road feeder services, filed a draft prospectus in July 2023. “The IPO is timely, as it will enable the company to gain access to the Malaysian capital market to raise funds to facilitate the continued growth and development of our trucking, container haulage, as well as warehousing and distribution services,” said Sin-Kung managing director Alan Ong. Sin-Kung currently owns about 460 commercial vehicles for trucking, container haulage, warehousing and distribution, as well as other logistics-related businesses. The company also operates five warehouses in the central and northern regions of Peninsular Malaysia. The company has earmarked proceeds from the IPO for expansion of warehousing and distribution services, repayment of bank borrowings, purchase of commercial vehicles, working capital, and to defray estimated listing expenses. The IPO involves a public issue of 200 million new shares and an offer for sale of 103.5 million existing shares, according to the draft prospectus filed earlier. All in all, the IPO is offering up to a 25.3% stake in the company. The public issue allocates 60 million shares to the public, and 45 million shares to eligible persons, with the remaining 95 million shares reserved for private placement to Bumiputera investors. Under the agreement, M&A Securities will underwrite a total of 105 million new shares made available to the Malaysian public and eligible persons under the so-called pink form allocations. The offer-for-sale tranche meanwhile sets aside 55.0 million shares for Bumiputera investors, and another 48.5 million shares for selected investors, both to be done through private placement. Source: Jason Ng / theedgemalaysia.com

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Bursa opens higher on buying interest in most sectors

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  • KUALA LUMPUR (April 1): Bursa Malaysia opened higher on Monday, supported by buying interest in most sectors, said analysts. At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.39 points to 1,538.46 from last Friday’s close of 1,536.07. The benchmark index opened 1.43 points higher at 1,537.50. On the broader market, gainers led decliners 224 to 126 while 314 counters were unchanged, 1,609 untraded and eight others suspended. Turnover amounted to 160.24 million units worth RM62.56 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects sentiment to remain soft on Monday with the index hovering within the 1,530-1,540 range despite strong buying interests seen in the financial and telecommunications sectors last Friday. On the commodity market, Thong said crude palm oil continued with its uptrend at around RM4,200 per tonne in line with the strength of other edible oils. As for crude oil, Brent crude closed at US$87 per barrel amid a better economic environment and production cuts by the Organization of the Petroleum Exporting Countries and its allies (Opec+), and many anticipate the price to surpass US$90 per barrel soon. Among the heavyweight counters, Telekom Malaysia Bhd rose seven sen to RM6.06, Sime Darby Bhd added two sen to RM2.62, IOI Corp Bhd was two sen higher at RM4, Sime Darby Plantation Bhd increased three sen to RM4.34, and Petronas Chemicals Group Bhd gained four sen to RM6.75. Among the actives, Sapura Energy Bhd eased half-a-sen to 4.5 sen, Handal Energy Bhd went up by 1.5 sen to 10 sen, MMAG Holdings Bhd was flat at 19 sen, and Sealink International Bhd garnered one sen to 20.5 sen. On the index board, the FBM Emas Index edged up 20.57 points to 11,592.16, the FBMT 100 Index increased by 19.32 points to 11,237.41, and the FBM Emas Shariah Index gained 20.80 points to 11,664.32. The FBM 70 Index rose by 38.55 points to 16,272.63, and the FBM ACE Index climbed 8.05 points to 4,905.11. Sector-wise, the Industrial Products and Services Index rose 0.54 of-a-point to 180.17, the Financial Services Index improved by 22.32 points to 17,295.59, the Plantation Index went up 29.60 points to 7,317.27, and the Energy Index advanced 4.76 points to 957.12. Source: Bernama.

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KWAP, Abrdn continue to increase stakes in CTOS

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  • KUALA LUMPUR (March 30): Retirement Fund Inc (KWAP) and Abrdn Malaysia Sdn Bhd have upped their stakes in credit reporting agency CTOS Digital Bhd. Filings with Bursa showed that KWAP acquired a total of 1.51 million CTOS shares and disposed of 319,700 in the open market on Wednesday. Following the transaction, KWAP’s stake in CTOS increased to 6.5%, equivalent to 150.18 million shares. Notably, KWAP first emerged as a substantial shareholder at a time when CTOS came under heavy selling pressure, falling below its initial public offering price of RM1.10, after receiving an unfavourable outcome in a legal dispute, where the judge ruled in favour of a businesswoman who had sued it for negligence and breach of fiduciary duty with regard to its credit scoring activity. KWAP then acquired 28.81 million shares in CTOS in the open market and disposed of 1.37 million shares on the same day, bringing its total shareholding to 5.81%, or 134.14 million shares. Meanwhile, Abrdn also increased its investment in CTOS by acquiring 6.52 million shares on Wednesday, raising its stake to 8.84%, or 204.37 million shares, according to filings with Bursa. CTOS’s largest shareholder is private equity firm Creador V LP, which holds 19.58%. This is followed by the Employees Provident Fund (EPF) with 11.35% interest in the company. CTOS appealed against the High Court decision to the Court of Appeal on Feb 8, and also filed an application to seek a stay of execution of the judgement. CTOS shares closed at RM1.32 per share on Friday, two sen or 1.49% lower from the previous trading day, bringing the company’s market capitalisation to RM3.05 billion. Source: Luqman Amin / theedgemalaysia.com

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MR DIY’s growth will be anchored by steady store expansion, says HLIB

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  • KUALA LUMPUR (March 29): Hong Leong Investment Bank (HLIB) said MR DIY Group (M) Bhd’s growth will continue to be anchored by the steady store expansion. In a technical tracker on Friday, HLIB said that for the financial year 2024 (FY2024), the group is targeting 180 new store openings, predominantly focusing on East Malaysia due to 58% higher population density per store and 30% higher average sales per store in the region. The research house highlighted that since its initial public offering in 2020, MR DIY has expanded its store network by 111.6% to 1,255 by the end of FY2023 from 593 in FY2020, as well as a 66.3% earnings surge over the same period. “Moreover, the group's emphasis on optimising revenue per square foot and operational efficiency is expected to further bolster its financial performance. “The forthcoming rationalisation of subsidies, particularly focusing on petroleum products (which constituted 82% of 2022's subsidies), is likely to dampen consumers' spending power, consequently negatively affecting consumer counters. “Nevertheless, the negative impact could be partially cushioned by the cash aid dished out to selected groups (i.e. targeted subsidies),” it said. HLIB said the formation of a hammer candlestick on the last trading day, accompanied by on-the-mend indicators, indicates that MR DIY is poised for a rebound. “A successful breakout above RM1.52 hurdle will spur the price towards RM1.59-RM1.65-RM1.72 region. “Cut loss at RM1.37,” it said.

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Zantat makes impressive ACE Market debut, closes with 50% premium

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  • KUALA LUMPUR (March 27): Calcium carbonate producer Zantat Holdings Bhd ended its maiden trading day on Bursa Malaysia’s ACE Market at 37.5 sen, a premium of 12.5 sen or 50% over its initial public offering (IPO) price of 25 sen. The counter surged by as much as 17 sen or 68% to 42 sen, after opening at a premium of 15 sen or 60% to 40 sen. It was the most active stock on Bursa Malaysia with 92.91 million shares traded. At 37.5 sen per share, the group is valued at about 12.5 times its price-earnings ratio, based on a net profit of RM6.77 million and basic earnings per share of three sen for the financial year ended Dec 31, 2023 (FY2023). Its market capitalisation stands at RM105 million, based on a share capital of 280 million. He also expected demand from India to remain strong. India accounts for 60% of Zantat's total revenue. “As for our new [bioplastic] products, we are planning to expand our footprint to Australia, New Zealand and Europe. We are collaborating with strategic partners to produce compostable garbage bags, which will be exported to these countries, hopefully by this year,” he told the press after the listing ceremony on Wednesday. Zantat Perak Plant 1, whose products are primarily exported for the plastic industry in India, achieved an average utilisation rate of 94% for the nine months ended Sept 30, 2023 (9MFY2023). However, Zantat Perak Plant 2, which is used to produce bioplastic compounds, recorded a utilisation rate of 28% during the same period. In a March 18 bourse filing, Zantat said it posted a net profit of RM1.1 million or 0.5 sen per share for its fourth quarter ended Dec 31, 2023 (4QFY2023), on the back of RM31.7 million in revenue. There were no comparative figures for the corresponding quarter a year ago, as it was the first interim financial report announced by Zantat, in compliance with listing requirements. Zantat's IPO was oversubscribed by 130.15 times, its public portion attracting RM459.01 million worth of orders, or about 33 times the RM14 million that it aimed to raise from the offering. Source: Hee En Qi / theedgemalaysia.com

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ACE Market-bound Topmix expects growth amid recovery in property market

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  • KUALA LUMPUR (March 27): Topmix Bhd, which launched its initial public offering (IPO) prospectus on Wednesday, expects growth in the local residential and commercial property markets to bode well for its surface decorative products. Topmix derives nearly 100% of its revenue from the domestic market. The border reopening has revitalised Malaysia’s tourism sector and encouraged investments in the upgrading, refurbishment and construction of hotels, retail as well as food and beverage premises, ultimately driving demand for surface decorative products, its IPO prospectus stated. According to its prospectus, the value of property transactions in Malaysia has been on an uptrend after the pandemic, increasing from RM85.4 billion in 2020 to RM126.9 billion in 2022. Topmix managing director Jack Teo also expects further revenue growth from its new products, adding that its in-house brand, such as the Dekowall wall panels, has integrated technologies new to Malaysia. Teo said the company will increase its warehouse capacity in the central region of Peninsular Malaysia, as well as expand its footprint into the northern region, driven by an increase in foreign direct investment in the area. “We found that the consumer behaviour in the northern region has changed. In the past, people [in the northern region] did not like trendy designs, but now [there are] many F&B commercial projects that focus a lot on renovation,” he told the press after the IPO prospectus launch. Commenting on the volatility in raw material prices, Topmix’s financial controller Janice Siow explained that its products were mostly procured from original equipment manufacturers in China. She said the shortage of raw materials would increase procurement costs, but the company has managed to pass cost increments to its customers. Furthermore, she said that the company has also adopted hedging strategies to address the fluctuations in foreign exchange. Topmix’s major suppliers hail from China, South Korea and Thailand, according to its prospectus.

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Topmix begins taking orders for IPO to raise up to RM26 mil

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  • KUALA LUMPUR (March 27): Total surface decorative products company Topmix Bhd began taking orders from investors on Wednesday for its initial public offering (IPO) on the ACE Market that would raise up to RM25.6 million. The IPO, which is priced at 31 sen apiece, comprises a public issuance of 82.7 million new ordinary shares, which represents 21% of the enlarged share capital, as well as an offer for sale of 19.7 million existing shares, which represents 5% of the enlarged share capital, by way of private placement to selected investors. Out of the 82.7 million new shares, the company allocated 19.7 million shares to the public, 7.9 million shares to eligible persons and 55.1 million shares to Bumiputera and select investors through private placement. Applications for the IPO will close on April 4, while the listing is set for April 23. The company sees a pricing-earning ratio of 14.3 times, based on its net profit of RM8.5 million for the financial year ended Dec 31, 2022 (FY2022). For the financial period ended Sept 30, 2023 (9MFY2023), the group reported a net profit of RM5.6 million, on the back of RM51 million. According to its statement on Wednesday, the company plans to use 44.2% of its proceeds, or RM11.3 million, for general working capital and 23.3%, or RM6 million, for business expansion. It will also allocate 20.8% of its proceeds, or RM5.3 million, to expand into the assembly of melamine-faced chipboard products. The remaining RM3 million, or 11.7%, will be used to defray listing expenses. Source: .

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Zantat makes strong start with 15 sen premium on ACE Market debut

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  • KUALA LUMPUR (March 27): Calcium carbonate producer Zantat Holdings Bhd made a robust debut on the ACE Market of Bursa Malaysia by opening at 40 sen, up 15 sen or 60% from its initial public offering (IPO) price of 25 sen per share, with an opening volume of 6.3 million shares. At 40 sen per share, the group is valued at about 13 times its price-earnings ratio, based on a net profit of RM6.77 million and basic earnings per share of three sen for the financial year ended Dec 31, 2023 (FY2023). Its market capitalisation stands at RM112 million, based on a share capital of 280 million. Looking ahead, managing director Ivan Chan said the group expects the glove industry to recover from the previous downturn in the second half of the year, which could generate extra revenue for the company, as its products are used as fillers for the glove industry. The group saw Zantat Perak Plant 1, whose products are primarily exported to the plastic industry in India, achieve an average utilisation rate of 94% for the nine-month financial period ended Sept 30, 2023 (9MFY2023). However, Zantat Perak Plant 2, which is used to produce bioplastic compounds, recorded a utilisation rate of 28% during the same period. In a bourse filing dated March 18, 2024, Zantat said it posted a net profit of RM1.1 million or 0.5 sen per share for its fourth quarter ended Dec 31, 2023 (4QFY2023), on the back of RM31.7 million in revenue. There were no comparative figures for the corresponding quarter a year ago, as it was the first interim financial report announced by Zantat, in compliance with listing requirements. Prior to its market debut, Zantat was oversubscribed by 130.15 times. It attracted RM459.01 million worth of orders for shares of its IPO from the Malaysian public, about 33 times the RM14 million that it aims to raise from its IPO. M&A Securities is the adviser, sponsor, underwriter and placement agent for the IPO exercise. Source: Hee En Qi / theedgemalaysia.com

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Sunview Group debuts on ACE Market at 59.5 sen, double IPO price of 29 sen

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  • KUALA LUMPUR (Oct 17): Sunview Group Bhd made its debut on the ACE Market of Bursa Malaysia on Monday (Oct 17) at 59.5 sen, a 105.1% premium to its initial public offering (IPO) issue price of 29 sen. The stock pared its gains later to close its maiden trading day at 46 sen, still up 17 sen or 58.62%, valuing the group at RM66.43 million. With a total trading volume of 127.57 million shares, the stock was also the most actively traded for the day. Sunview is principally involved in engineering, procurement, construction, and commissioning (EPCC) as well as construction and installation services for solar photovoltaic (PV) facilities, solar power generation and supply, as well as associated services and products. The public portion of its IPO was oversubscribed by 63.19 times. The listing exercise successfully raised RM34.22 million via the issuance of 118 million new shares, of which RM20.1 million or 58.72% of the proceeds are earmarked to fund the group’s working capital requirements, while RM7 million or 20.46% will go towards repayment of bank borrowings. Another RM1.86 million or 5.42% will be allocated towards capital expenditure, followed by RM1.67 million or 4.88% for business expansion, whereas the remaining RM3.6 million or 10.52% will be used to defray listing expenses. The group's listing is the 30th on Bursa this year, and the 21st on the ACE Market. Sunview has 35 ongoing EPCC projects for solar PV facilities, with a total contract value of RM685.29 million. The group has completed over 100 projects, with a total contract value of RM102.04 million. Looking ahead, Ong noted that the group is setting up a new office in Johor to address potential opportunities in EPCC of rooftop solar PV facilities and providing associated services, besides targeting commercial and industrial applications in the southern region of Peninsular Malaysia. “At this moment, we have our headquarters in Petaling Jaya, and we do have a storage warehouse in Shah Alam. Yes, we are planning to open an office in Johor, with the aim of serving our southern region customers and clients better,” he said. Ong said while the ongoing depreciation of the ringgit and the strengthening of the dollar had slightly affected Sunview's procurement of raw materials, the company is mitigating the negative impact by optimising costs through its designs as well as purchasing from various suppliers. Source: Shazni Ong / theedgemarkets.com

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Keyfield International begins taking orders for IPO to raise up to RM188 mil

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  • KUALA LUMPUR (March 26): Oil and gas (O&G) services firm Keyfield International Bhd on Tuesday began taking orders from investors for its initial public offering (IPO) that would raise up to RM188.06 million. The IPO is priced at 90 sen apiece and comprises entirely of new shares, according to its prospectus. The company allocated 40 million shares to the public, 24 million shares to eligible persons and 144.96 million shares to Bumiputera and select investors through private placement. Applications for the IPO will close on April 3 and listing has been scheduled for April 22. All in all, the IPO offers investors a total of 26% of the company’s enlarged share capital in the company that made a net profit of RM83.35 million in Jan-Sept 2023 and RM48.88 million for 2022. Keyfield mainly charters accommodation vessels and provides related onboard services such as accommodation, catering, housekeeping, laundry and medical support services to national O&G corporation Petronas and other contractors in the industry. More than one-third of the proceeds from the IPO has been earmarked for settlement of balance purchase consideration for 500-passenger barge Blooming Wisdom and another one-third will go towards redeeming cumulative redeemable non-convertible preference shares in Keyfield. The company plans to also use 18.6% of the proceeds to settle the balance purchase consideration for Helms 1 platform supply vessel, the prospectus showed. The balance will go towards repayment of bank borrowings, fund working capital, and to defray listing expenses. M&A Securities is the principal adviser, underwriter and joint placement agent while Maybank Investment Bank is also the joint placement agent. Source: Jason Ng / theedgemalaysia.com

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Alpha IVF ends flat at 32 sen on ACE Market debut

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  • KUALA LUMPUR (March 22): Fertility care company Alpha IVF Group Bhd ended its maiden day flat at 32 sen after its initial public offering (IPO), the largest ever on the ACE Market, raised RM466.5 million. The counter emerged as the third most active stock on Bursa Malaysia, with 271.05 million shares exchanged. It traded between an intra-day low of 30.5 sen and a high of 32.5 sen during Friday’s trading session, after opening flat at 32 sen. At 32 sen per share, the group was valued at about 21.92 times its price-earnings ratio, based on a net profit of RM54.79 million and basic earnings per share of 1.46 sen for the financial year ended May 31, 2023 (FY2023), as stated in its prospectus. Its market capitalisation stood at RM1.56 billion, based on a share capital of 4.86 billion shares. Alpha IVF aims to distribute at least 60% of its annual net profit as dividends. For the cumulative six months ended Nov 30, 2023 (6MFY2024), the company posted a net profit of RM25.34 million, on the back of a revenue of RM80.14 million. The company mainly focuses on assisted reproductive services with a strong emphasis on in-vitro fertilisation, a medical procedure where eggs are collected and fertilised by sperms in a laboratory, before implanted in the womb. The company currently operates two centres in Malaysia and one in Singapore. AmInvestment Bank Bhd is the principal adviser, sponsor, lead book runner, and sole underwriter for the IPO. Source: Hee En Qi / theedgemalaysia.com

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Malaysia kekal destinasi pelaburan pilihan syarikat multinasional

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  • KUALA LUMPUR: Malaysia kekal sebagai destinasi pilihan pelaburan langsung asing (FDI) di rantau ini, termasuk menarik minat kalangan syarikat-syarikat multinasional (MNC) yang berhasrat mengembangkan jejak global secara strategik. Ketika berkongsi perkara itu, Pengarah Urusan DHL Express Malaysia dan Brunei, Julian Neo, berkata susulan perkembangan geopolitik baru-baru ini, usaha mendapatkan penyumberan omni telah menjadi tumpuan utama bagi syarikat di serata industri yang dilihat penting dalam mengukuhkan daya tahan rantaian bekalan. Antara kekuatan utama Malaysia adalah akses mudah ke pasaran utama Asia, permintaan pengguna yang kukuh untuk barangan dan perkhidmatan antarabangsa, sokongan institusi, infrastruktur yang maju, rangka kerja undang-undang yang mantap, bakat atau tenaga kerja yang mampu bertutur dalam bahasa Inggeris selain kemahiran digital serta perjanjian perdagangan bebas. Menurut laporan terkini Global Connectedness atau Keberhubungan Global DHL Group yang dilancarkan pada 13 Mac 2024, Malaysia di kedudukan ke-26 daripada 181 ekonomi atau negara, didorong oleh pertumbuhan aliran perdagangan (import dan eksport merentasi barangan dan perkhidmatan) serta peningkatan aliran keluar masuk FDI. Mengulas sama ada cukai perkhidmatan enam peratus ke atas perkhidmatan logistik yang berkuatkuasa pada 1 Mac 2024 boleh menjejaskan perniagaan syarikat di negara ini, Neo berkata cukai itu hanya dikenakan kepada penghantaran domestik dan tidak termasuk antarabangsa, yang merupakan tugas utama DHL Express Malaysia. Bagi aspek kemampanan, Neo berkata DHL Express mempunyai sebanyak 52 van elektrik dan tujuh motosikal elektrik yang terbabit dalam usaha pengambilan dan penghantaran selain berada di landasan tepat bagi mencapai 60 peratus elektrifikasi kumpulan kenderaan menjelang 2030. Sumber : Bernama

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TA Securities values ACE Market-bound SBH Marine at 24 sen

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  • UALA LUMPUR (March 22): TA Securities has valued ACE Market-bound frozen seafood firm SBH Marine Holdings Bhd at 24 sen, and said at the initial public offering (IPO) price of 22 sen, SBH is priced at a trailing price-earnings ratio of 15 times its earnings per share for the financial year ended Dec 31, 2023. In a note on Friday, the research house, which does not have a rating for the stock, said the valuations had taken into consideration the group’s plan to expand its regional presence and growing global population. “In addition, we have also factored in SBH’s plans to expand its aquaculture shrimp farming and seafood processing plant, which will enhance profit margins and reduce dependence on third-party suppliers. On the outlook for the company, TA Securities said based on independent market research conducted by Protégé and published in the IPO prospectus, the export value of frozen seafood in Malaysia was valued at RM2.2 billion in 2023 (-1% year-on-year) due to weaker demand. “However, export value is expected to grow by 5.5% to RM2.3 billion in 2024, driven by an increase in health awareness leading to a shift away from canned food to frozen seafood. It said the slowdown is attributable to political uncertainties in the Middle East, and the conflict between Russia and Ukraine, which have dampened consumer sentiment in Europe. “Thereafter, we anticipate the group to record earnings growth of 12% to RM14.5 million for FY2024, and 21% to RM17.4 million for FY2025. “Growth will be supported by an increase in demand from existing customers, and efforts to secure potential new customers through participation in overseas exhibitions and trade shows,” the house said. Source: Surin Murugiah / theedgemalaysia.com

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HLIB expects MAHB to record stronger earnings in FY2024-25

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  • KUALA LUMPUR (March 21): Hong Leong Investment Bank (HLIB) has maintained its 'buy' rating of Malaysia Airports Holdings Bhd (MAHB) at RM9.12, with a higher target price (TP) of RM10.25 (from RM9.80), and said the finalisation of new operating agreements (OAs) and the first Regulatory Period (RP1) have effectively strengthened MAHB’s position in the development and management of airports in Malaysia with earnings certainty for the next 35 years. In a note on Thursday, the research house said MAHB will benefit from the higher aviation services charges (including passenger service charges) revenue and cash flow, while benefiting from the recovery of air travel and an improving international passenger mix (higher passenger tariffs and spending power) for both Malaysian and Istanbul Sabiha Gökçen International Airport operations. HLIB said the higher TP for MAHB is based on sum-of-parts valuation, given the improved earnings outlook, leveraging on the expected recovery of air travel demand in the financial year ending Dec 31, 2024 (FY2024) and FY2025, and the finalisation of OAs and the RP1 structure in strengthening MAHB’s commitment towards airport developments in Malaysia. Source: Surin Murugiah / theedgemalaysia.com

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Vegetable wholesaler Farm Price gets nod for ACE Market listing

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  • KUALA LUMPUR (March 20): Johor-based vegetable wholesaler Farm Price Holdings Bhd said on Wednesday it has secured regulatory approval for its listing on the ACE Market of Bursa Malaysia. The approval marks another step forward for Farm Price’s initial public offering since the company filed a draft prospectus on Oct 12, 2023. “We believe it is timely as the public is given the opportunity to invest in a business that plays a crucial role in ensuring sufficiency of fresh vegetables in the market,” Farm Price managing director Dr Tiong Lee Chian said in a statement. The company has regional distribution centres across northern, central as well as southern regions of peninsular Malaysia, alongside a centralised distribution centre in Johor serving both Malaysia and Singapore markets. The IPO entails a public issue of 102 million new ordinary shares as well as an offer for sale of 33 million existing shares. All in, the listing offers investors a 30% stake in the company. Under the public issue, 22.5 million new shares will be made available to the Malaysian public, followed by 11.25 million shares for eligible persons and 68.25 million shares set aside for private placement to select investors. Proceeds from the IPO will be used for the construction of new facilities, purchase of machinery, equipment and logistics fleet, planned regional distribution and procurement centre and working capital, according to the draft prospectus. On the financial front, Farm Price’s earnings have risen over the past three financial years with profit after tax of RM4.75 million in the financial year of 2022 (FY2022) versus RM3.11 million in FY2021 and RM2.86 million FY2020. Revenue meanwhile has grown to RM94.38 million in FY2022 from RM81.97 million in FY2021 and RM73.54 million in FY2020. Source: Syafiqah Salim / theedgemalaysia.com

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SMEs, start-ups encouraged to apply for LiKES matching grant

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  • KUALA LUMPUR (March 19): Small and medium enterprises (SMEs) and start-ups, including those operating in rural areas, are encouraged to apply for the Internship Placement Matching Grant for Small and Medium Enterprises (LiKES). In making the call, Talent Corporation Malaysia Bhd (TalentCorp) group chief executive officer Thomas Mathew said LiKES, which was launched on Monday, enables the industry to train local talent through industrial training by optimising government incentives to alleviate the burdens of all involved parties. On Monday, Minister of Human Resources Steven Sim Chee Keong launched LiKES, a new initiative under TalentCorp, with a total matching grant of RM30 million provided by the government to benefit 30,000 trainees. The LiKES matching grant covers a training period of up to six months and is open to applications by SMEs and start-ups, in addition to the qualified applicant committing to offer a training placement of at least 10 weeks and provide a minimum industrial training allowance. Therefore, Mathew viewed LiKES as a forward-thinking intervention aimed at nurturing and preparing young talent, whether university students or those taking up technical and vocational education and training (TVET) programmes, to meet the industry's demands. He said the initiative also serves as a prompt and efficient intervention to stimulate the economy of SMEs and bolster the job market. Meanwhile, Small and Medium Enterprises Association of Malaysia (Samenta) president Datuk William Ng said LiKES could make SMEs appear more attractive to prospective trainees and enable SMEs to continue hiring trainees after graduation. According to him, Samenta will collaborate with TalentCorp to identify progressive SME employers for the LiKES programme and expand opportunities for young individuals seeking internship placements. Source: Theedge malaysia

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SBH Marine starts taking orders from investors for RM50.6 million IPO

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  • KUALA LUMPUR (March 18): Frozen seafood company SBH Marine Holdings Bhd began taking orders from investors on Monday for its initial public offering (IPO) that would raise up to RM50.6 million. The IPO, priced at 22 sen per share, involves a public issue of 180 million new ordinary shares, and an offer for sale of 50 million existing ordinary shares, according to its prospectus. All in all, the IPO involves sale of about 26% stake, and would value the company at RM195.36 million. Applications for the IPO shares will close on March 25, and listing on the ACE Market has been scheduled for April 8. SBH processes and sells frozen shrimp, squid, octopus and cuttlefish, and farms black tiger prawns and whiteleg shrimp in Perak. The company’s existing processing plant in Kuala Kurau has an annual capacity of 4,800 tonnes. The public issue of the IPO comprises 45 million shares for the Malaysian public, 36 million shares for eligible persons, 61 million shares for Bumiputera investors, and the remaining 38 million for select investors through private placement. The company has earmarked RM16 million, or 40.40% of the proceeds from the new share sale, to develop its Selinsing farm. SBH will also spend RM6.5 million on construction of a new seafood processing plant, and another RM6.1 million to buy equipment and motor vehicles. The balance will go towards meeting working capital requirements, and to defray estimated listing expenses. The offer-for-sale tranche, meanwhile, allocates 50 million shares to Bumiputera investors, which will raise RM11 million, and proceeds will go entirely to the selling shareholders, including group managing director Tan Boo Nam and his son Tan Yuak Ming, who is the deputy managing director. KAF Investment Bank is the principal adviser, sponsor, sole underwriter, and sole placement agent for the IPO. Wyncorp Advisory Sdn Bhd is the corporate finance adviser. Source: Jason Ng / theedgemalaysia.com

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Zantat's IPO attracts RM459m public interest, about 33 times what it aims to raise

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  • KUALA LUMPUR (March 18): The ACE Market debut of Zantat Holdings Bhd, a high-grade calcium carbonate powder producer, has attracted RM459.01 million worth of orders for shares of its initial public offering (IPO) from the Malaysian public, about 33 times the RM14 million that it aims to raise from its IPO. The public portion of its IPO was oversubscribed by 130.15 times, it said in a statement after receiving 13,755 applications seeking 1.84 billion new shares from the Malaysian public for the 14 million new shares it made available for their subscription at 25 sen per share. The Bumiputera public portion of shares was oversubscribed by 137.99 times, with 8,151 applications for 972.94 million new shares received. For the non-Bumiputera public portion, 5,604 applications for 863.11 million new shares were received, representing an oversubscription rate of 122.30 times. The 11.2 million new shares it made eligible for directors, employees and persons who had contributed to the success of the group were also fully subscribed, while 47.6 million shares made available for application by private placement to selected investors had been fully placed out. Under the listing exercise, Zantat is issuing 56 million new shares, representing 20% of its enlarged share capital at an issue price of 25 sen per share. As part of the listing, existing shareholders also made an offer for the sale of 16.8 million existing shares to selected investors by way of private placement. Moving forward, we will utilise our proceeds to expand our ground calcium carbonate production line, as well as to upgrade our existing research and development facilities within Zantat Perak Plant 1. Zantat is scheduled to list on the ACE Market of Bursa Malaysia Securities Bhd on March 27. Based on its enlarged share capital of 280 million shares, Zantat is expected to have a market capitalisation of RM70 million after listing. Source: Isabelle Francis / theedgemalaysia.com

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Ge-Shen beli 60 peratus kepentingan dua syarikat berharga RM13.5 juta

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  • KUALA LUMPUR: Ge-Shen Corporation Bhd menandatangani perjanjian tidak mengikat untuk memperoleh 60 peratus kepentingan setiap satu dalam Amity Research & Development Sdn Bhd (ARD) dan Amity Technical Services & Consultancy (M) Sdn Bhd (ATSCM) pada harga RM13.5 juta. ARD ialah penyedia perkhidmatan kejuruteraan dan perundingan dalam industri elektrik dan elektronik (E&E), manakala ATSCM ialah pengilang yang pakar dalam pemasangan papan litar bercetak, pembinaan kotak produk dan pemasangan kabel dan wayar. Dalam makluman kepada Bursa Malaysia, Ge-Shen berkata pengambilalihan itu akan membabitkan kos RM13.5 juta yang akan dibiayai sepenuhnya melalui dana yang dijana secara dalaman dan pinjaman bank. Cadangan pengambilalihan membabitkan pembelian 60,000 saham ARD dan 300,000 saham ATSCM daripada pemegang saham sedia ada iaitu Pak Yue Leong, Tan Chung Ken, Tan Guan Lai, Tan Khay Leang, Tan Kooi Loon dan Teh Sheh Chien. Ge-Shen berkata, justifikasi bagi pembelian itu adalah berdasarkan nisbah harga kepada pendapatan sebanyak 4.5 kali ganda yang diperoleh daripada keuntungan minimum selepas cukai sebanyak RM3.0 juta setahun bagi syarikat yang disasarkan, berjumlah RM6 juta untuk tempoh jaminan tahun kewangan berakhir pada 31 Disember 2024 dan 2025. 'Cadangan pengambilalihan ini akan mengembangkan skala operasi Ge-Shen dan memudahkan kehadiran kumpulan dalam pasaran yang dikhususkan itu. Ia juga selaras dengan objektif kumpulan untuk memperoleh kepentingan strategik dalam syarikat yang terlibat bagi industri nilai tambah tinggi yang berpotensi untuk pertumbuhan masa depan,' katanya. Pada 12 Mac, Ge-Shen mengumumkan keputusannya untuk menjual keseluruhan 70 peratus kepentingannya dalam Demand Options Sdn Bhd pada harga RM15 juta, bertujuan untuk menyelaraskan operasi dengan melepaskan anak syarikat yang merugikan itu. Selain itu, sebagai sebahagian daripada strategi kepelbagaiannya, Ge-Shen bercadang untuk memperoleh 40 peratus kepentingan dalam Local Assembly Sdn Bhd. Saham Ge-Shen ditutup pada harga RM3.99 hari ini di Bursa Malaysia, meningkat 78 sen atau 24.3 peratus, menjadikan permodalan pasarannya sebanyak RM490 juta. Sumber: BERNAMA

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IPO SBH Marine bakal jana modal RM195.4 juta

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  • KUALA LUMPUR: Pakar makanan laut beku bersepadu, SBH Marine Holdings Bhd dijangka meraih dana RM195.4 juta menerusi tawaran awam permulaan (IPO) membabitkan terbitan 888 juta saham biasa pada harga 22 sen sesaham. Menerusi prospektus IPO syarikat yang akan disenaraikan di Pasaran ACE Bursa Malaysia Securities Bhd (Bursa Securities) pada 8 April ini, SBH Marine memperuntukkan sebahagian besar dana berjumlah RM39.6 juta atau 70 peratus untuk pengembangan perniagaan. Daripada dana yang diraih, SBH Marine bercadang menggunakan sebanyak RM16 juta untuk pembangunan ternakan udang akuakultur di Selinsing, Perak. Kumpulan turut memperuntukan pembinaan kilang pemprosesan makanan laut kedua di Kuala Kurau, Perak sebanyak RM6.5 juta serta pembelian jentera baharu, peralatan dan kenderaan bermotor sebanyak RM6.1 juta. Kilang pemprosesan sedia ada syarikat di Kuala Kurau ketika ini mempunyai kapasiti tahunan 4,800 tan. Pengarah Urusan Kumpulan SBH Marine, Tan Boo Nam, berkata penyenaraian syarikat itu adalah untuk membiayai perniagaan bagi mengembangkan lagi Ladang Selinsing serta membina pemprosesan loji makanan laut kedua di Kuala Kurau. 'Dari segi pembahagian geografi, lebih 93.83 peratus daripada jualan kumpulan diperoleh daripada pelanggan luar negara di seluruh Asia, Eropah dan Asia Barat,' katanya pada sidang media selepas pelancaran IPO syarikat di sini, hari ini. Sementara itu, Pengarah Eksekutif Kumpulah SBH Marine, Saw Leng Hean, berkata syarikat berhasrat untuk mengembangkan kapasiti pemprosesan makanan laut melalui pembinaan kilang baharu seluas kira-kira 1.29 ekar yang terletak di Kuala Kurau. Leng Hean berkata, SBH Marine menyasarkan ke pasaran China tahun ini, bagi meningkatkan pasaran yang tersedia di negara ini. 'Kami tidak akan meninggalkan pelanggan sedia ada, malah akan terus berkembang bersama mereka dan membuat penambahbaikan,' katanya. Sumber: Nur Amira Mohd Hedzer, BH online.

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InvestKL tarik RM8.7 bilion pelaburan langsung asing pada 2023

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  • KUALA LUMPUR: InvestKL mencatatkan prestasi cemerlang dengan menarik RM8.7 bilion pelaburan langsung asing (FDI) pada 2023, meningkat lebih 300 peratus berbanding RM2.79 bilion pada 2022, sekali gus menunjukkan keyakinan kukuh pelabur asing terhadap potensi ekonomi Malaysia. Malah, 2023 juga menandakan tahun yang paling cemerlang bagi agensi di bawah Kementerian Pelaburan, Perdagangan dan Industri (MITI), dengan kemuncaknya agensi itu memperoleh RM29.79 bilion pelaburan sejak penubuhannya pada 2011. Sehingga kini, 66 peratus daripada pelaburan atau RM19.74 bilion telah menjadi kenyataan, membawa kepada penciptaan lebih 27,000 pekerjaan eksekutif. Pada masa ini, 74 peratus daripada jawatan itu telah diisi, memberikan rakyat Malaysia dengan purata pendapatan bulanan melebihi RM14,000. Ketua Pegawai Eksekutif InvestKL, Datuk Muhammad Azmi Zulkifli, berkata 2023 adalah tahun paling signifikan dari segi pelaburan. Beliau berkata, dalam tiga tahun kebelakangan ini, pihaknya melihat trajektori kukuh di Greater KL dengan memperlihatkan ekosistem yang matang dan mantap serta dasar menyokong perniagaan membantu memacu pelaburan utama ke situ. 'Setakat Disember 2023, sebanyak 139 syarikat multinasional (MNC) beroperasi di sini dengan mempunyai hab perkhidmatan global, pejabat serantau, pusat kecemerlangan (CoE), pusat kejuruteraan dan pusat perkhidmatan global terletak merentasi Greater KL. Pelaburan yang dicatatkan pada tahun lalu itu menjana 8,329 pekerjaan berkemahiran tinggi, lebih tinggi berbanding 2,805 tahun sebelumnya. Mengenai tinjauan 2024, Azmi berkata, InvestKL optimis mengenai prospek tahun ini dan kekal yakin terhadap peningkatan berterusan Greater KL sebagai hab pelaburan global yang strategik. Sumber: Mahanum Abdul Aziz, Berita Harian.

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Malaysia's Capital A aims to raise US$400mil equity from AirAsia merger [NSTTV]

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  • KUALA LUMPUR: The parent company of Malaysian budget airline AirAsia, Capital A Berhad, is looking to raise up to US$400 million in equity as part of a planned merger to bring its long and short-haul operations under one brand, its CEO said on Monday. Group Chief Executive Tony Fernandes in an interview said that would be on top of a US$200 million bond-raising the company is hoping to conduct in the next few weeks, as it awaits regulator and shareholder approval to complete the sale of its aviation business to long-haul unit AirAsia X Bhd. The proposed deal, announced last month, would see the formation of a single airline AirAsia Group, he said. '(We hope) the acquisition by AirAsia X of Capital A aviation assets will be done by June and July,' Fernandes told Reuters. Both Capital A and AirAsia X have undergone restructuring after being classified by Malaysia's stock exchange as financially distressed, due to strict pandemic travel restrictions. AirAsia X was removed from the classification in November, after undertaking measures to improve its financial position, while Capital A has said it hopes to present a plan to the bourse by June. 'We feel really confident about the future,' he said. Fernandes said he hoped to eventually list all of the group's remaining non-aviation businesses, which include mobile payments firm BigPay, logistics arm Teleport, and online travel agency AirAsia MOVE. Last year, the company also said it plans to list its brand management unit in the United States via a merger with special purpose acquisition company, Aetherium Acquisition Corp. Source: NewStraitsTime.

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MOF: Applications open for govt credit guarantee to help MSMEs, first-time home buyers

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  • KUALA LUMPUR (March 4): Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) and Syarikat Jaminan Kredit Perumahan Bhd (SJKP) have started accepting applications from financial institutions which offer special government guarantee schemes announced in Budget 2024, to assist micro, small, and medium enterprises (MSMEs) and first-time homebuyers who do not earn fixed income. The SJPP guarantee is part of Budget 2024’s aim to provide financing worth RM44 billion to MSMEs this year. Second Finance Minister Datuk Seri Amir Hamzah Azizan said SJPP has given approval to provide guarantees for MSME financing up to RM20 billion and is expected to guarantee up to 90% of the financing for MSMEs, particularly those involved in the green economy, advanced technology, healthcare and halal businesses. Apart from MSMEs, Amir Hamzah said the government is also attentive to the challenges faced by people without a fixed income for purchasing their first home. “Therefore, the Madani government has increased the Housing Credit Guarantee Scheme to RM10 billion for the year 2024, which will benefit more than 40,000 borrowers,' he said. Amir Hamzah said this scheme will benefit targeted groups from various backgrounds including fishermen, gig workers, and night market traders. “SJPP and SJKP always strive to maintain the low and competitive interest rates by working with various financial institutions for the benefit of MSMEs and first-time homebuyers who do not earn fixed income. With a guarantee exceeding 100% given by SJKP (subject to terms and eligibility criteria), first-time homebuyers no longer need to worry about providing a 10% deposit for the purchase of their homes,” the statement read. Source: Chester Tay / theedgemalaysia.com

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Iskandar Waterfront outlines RM4.3 bil development projects in Johor in 10-year plan

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  • KUALA LUMPUR (March 4): Iskandar Waterfront City Bhd has unveiled its 10-year development plan comprising three projects in Johor Bahru, with an aggregate gross development value (GDV) of RM4.33 billion. According to its statement on Monday, the property developer’s 10-year development plan comprises the RM3.5 billion waterfront township Tebrau Bay, RM500 million mixed waterfront development Danga Rivera, and RM330 million mixed-use development project Danga Heights. Over the next five years, the first phase of the three key development projects, comprising an aggregate of 63 acres, is expected to generate a total GDV of RM1.8 billion, according to the company. Iskandar Waterfront said the 100-acre Tebrau Bay is a waterfront township development, which will commence with a 30-acre pilot phase. Meanwhile, Danga Heights is a 29.3-acre mixed-use development project focused on retail, which will include a branded hotel, office and serviced apartment. Iskandar Waterfront deputy chief executive officer Yap Meow Hin said the collaboration with Meliá Hotels International underscores the company’s commitment to excellence and its vision of transforming landscapes to enrich communities. “Overall, Iskandar Waterfront is confident in its ability to develop and leverage its extensive landbank, which is strategically located near mature areas and close to the Rapid Transit System (RTS) Link station and [the] Johor Bahru city centre,” Iskandar Waterfront said. Shares in Iskandar Waterfront ended half a sen or 0.68% lower at 73.5 sen on Monday, giving the group a market capitalisation of RM677.03 million. Source: Izzul Ikram / theedgemalaysia.com

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MPOC raih potensi jualan RM705 juta dalam lawatan MENA

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  • KUALA LUMPUR: Majlis Minyak Sawit Malaysia (MPOC) meraih potensi jualan berjumlah RM705 juta daripada sesi padanan perniagaan dalam Lawatan Perdagangan dan Rangkaian bagi Pembeli Asia Barat dan Afrika Utara (MENA) baru-baru ini. Ketua Pegawai Eksekutif MPOC, Belvinder Sron, berkata syarikat daripada tiga negara MENA, iaitu Turkiye, Mesir dan Algeria mencari pelbagai produk sawit, termasuk olein minyak sawit bertapis, diluntur dan dinyahbau (RBD), dalam bentuk pek pengguna dan pukal, minyak masak, lelemak dan lemak khusus. Menyifatkan inisiatif itu sebagai satu kejayaan, MPOC telah didekati oleh ahli industri untuk menganjurkan program yang sama bagi pasaran di rantau Asia Pasifik dan Sub-Sahara Afrika. 'Saya menggalakkan lebih ramai ahli industri untuk mengambil bahagian dalam edisi 'Perdagangan dan Rangkaian' akan datang kerana adalah penting untuk kita mempergiatkan usaha untuk mempromosikan minyak sawit Malaysia yang mampan kepada dunia dan meneroka pasaran yang belum diterokai,' katanya dalam satu kenyataan hari ini. Sementara itu, Pengurus Jualan Serantau Oilnco Industries Sdn Bhd, Mohammed Zubir Abdul Razak, berkata program itu membantu syarikat kecil tempatan mengakses pasaran berbeza dan mendapat pendedahan mengenai platform antarabangsa industri minyak sawit khususnya untuk menembusi pasaran Eropah. 'Di sinilah organisasi seperti MPOC berperanan dan membantu pemain industri memasarkan produk minyak sawit ke negara-negara ini,' katanya kepada Bernama baru-baru ini. Program tiga hari itu memberi pendedahan berkaitan sektor minyak sawit Malaysia seperti pembentangan tentang khasiat daripada segi kesihatan minyak sawit Malaysia dan perkembangan terkini mengenai prospek dan isu semasa berkaitan sektor hiliran dan pertengahan daripada Persatuan Penapis Minyak Sawit Malaysia (PORAM). Sumber: Bernama

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Malaysia-based coffee chain Koppiku brews up $2.5m in funding

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  • Malaysia-based coffee chain Koppiku has raised US$2.5 million from Vertex Ventures, Reshape Ventures, and others, according to Alternatives.pe, which tracks regulatory filings in Singapore. The startup’s share price has increased by over 7x from the previous round in August 2023, the data showed. Tech in Asia has reached out to co-founder Rajiv Bhanot for more details. Founded in 2023 by Bhanot and Mellisa Lim, the startup aims to make premium coffee accessible to all. Its beverages are priced between 5 ringgit (US$1.07) and 9.90 ringgit (US$2.13), excluding substitutions and add-ons. Koppiku had launched its maiden store in Kuala Lumpur in September 2023. The company is backed by prominent figures like Bhanot’s younger brother, Sachin Bhanot, who is Prosus Ventures’ head of investments for Southeast Asia, Australia, and New Zealand. Koppiku also counts AC Ventures managing partner Hann Yeoh and Antifragile Ventures – backers of Philippines’ Pickup Coffee – as angel investors. Total coffee consumption has been growing in Malaysia – and as consumption rises, so does competition. Koppiku competes with homegrown as well as international coffee chains in Malaysia such as ZUS Coffee, Gigi Coffee, and Indonesia’s Kopi Kenangan. Sources by samreen@techinasia.com

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99 Speed Mart files for IPO, seeking minimum public shareholding spread of 15%

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  • KUALA LUMPUR (March 11): Grocery chain operator 99 Speed Mart Retail Holdings Bhd has filed a draft prospectus to launch an initial public offering (IPO) that will see founder Lee Thiam Wah and his family letting go of 17% interest upon listing on Bursa Malaysia’s Main Market. This confirms a report by The Edge in October last year that the home-grown retailer is mulling an IPO to raise as much as RM1.5 billion from the capital market to fund its expansion. The draft prospectus filed with Securities Commission Malaysia on Monday also proposes a minimum public shareholding spread of 15%, versus the usual 25% as required by Bursa Malaysia. 99 Speed Mart is planning to sell 1.428 billion shares in its first-time share sale, comprising an offer for sale of up to 1.028 billion existing shares and a public issue of 400 million new shares. The retail offering, meanwhile, involves 210 million new shares, representing 2.5% of the group’s enlarged share capital. Of this, 42 million shares are reserved for eligible staff while 168 million shares will be offered to the Malaysian public. 99 Speed Mart aims to have 3,000 outlets nationwide by the end of 2025, increasing from 2,542 outlets currently. Upon completion of the IPO, Lee is expected to own a direct stake of up to 28.2% in the group, and an indirect interest of 51.5% through his private vehicle Lee LYG Holdings Sdn Bhd, with a six-month moratorium attached to the shareholdings. Source: Chester Tay / theedgemalaysia.com

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HANYA 1 SYARIKAT MELAYU KE IPO BURSA - tempoh 3 tahun

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  • 1 Mac 2024 :Hanya satu daripada 97 syarikat yang disenaraikan di Bursa Malaysia sejak tiga tahun lalu dimiliki oleh Bumiputera. Sambil menyuarakan kebimbangannya, Pengerusi Bursa Malaysia, Abdul Wahid Omar berkata, angka tersebut mencerminkan penyertaan sebenar Bumiputera dalam sektor perniagaan. 'Ini berikan kita satu wake up call. Inilah situasi sebenar. Syarikat yang disenaraikan Bursa ni ialah gambaran sebenar penyertaan Bumiputera dalam sektor perniagaan. 'Jadi kita perlu bertanya, kalau dah enam dekad, melaksanakan pelbagai dasar pemerkasaan bumi dan hasilnya pada hari ni, tak capai sasaran kita selama ni, kenapa?' tegasnya ketika berucap di Kongres Ekonomi Bumiputera di Pusat Konvensyen Antarabangsa Putrajaya (PICC) hari ini Sumber : Malaysia Kini 1Mac 2024

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Maybank sasar agih pembiayaan RM18 bilion kepada PKS

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  • Ketua Pegawai Eksekutif Kumpulan Perkhidmatan Kewangan Komuniti Maybank, Datuk John Chong, berkata jumlah itu mewakili pertumbuhan 13 hingga 14 peratus pada 2024 selepas mencatatkan 12 peratus pertumbuhan pada tahun lalu. 'Pada 2023, Maybank menggerakkan hampir RM17 bilion dalam pembiayaan PKS, yang mana RM5 bilion daripadanya adalah pembiayaan mampan. Dalam lima tahun lalu, jumlah pembiayaan untuk PKS berjumlah RM66 bilion. Sementara itu, Ketua Pegawai Eksekutif Maybank Islamic, Datuk Rafique Merican, berkata industri halal adalah komponen penting kepada kumpulan perbankan itu. Beliau berkata, pihaknya mahu menjadi peneraju dalam industri halal dan melahirkan lebih ramai juara halal tempatan, seterusnya menyokong agenda nasional untuk mengembangkan pasaran halal di dalam negara kepada anggaran AS$113.2 bilion menjelang tahun 2030.

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SC perluas kategori pelabur sofistikated @Berita Harian

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  • KUALA LUMPUR: Suruhanjaya Sekuriti Malaysia (SC) memperluaskan kategori pelabur sofistikated sebagai langkah meningkatkan kebolehcapaian pasaran modal. 'Garis Panduan Kategori Pelabur Sofistikated' baharu, yang berkuat kuasa hari ini, mengukuhkan komitmen SC untuk mengekalkan daya saing dan kerancakan pasaran modal, sambil menggalakkan penyertaan pelabur yang lebih ramai. Pengerusi SC, Datuk Seri Dr Awang Adek Hussin, berkata perkembangan pasaran modal Malaysia yang sofistikated semakin meningkat. Untuk berita penuh layari berita harian online. Sumber: berita harian 5 Februari 2024

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REVOLUTION. TRANSFORM.GROWTH.SUSTAINABILITY

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  • 24/01/2024 : Terima kasih dan setinggi penghargaan kepada pasukan MIDF dengan kerjasama WCD kerana telah berjaya mengadakan sesi bual bicara industri bersama speaker jemputan Dato' Seri Ahmad Khusairi, founder dan CEO kepada Worldclass Trade & Development Berhad. Dalam sesi singkat selama 1 jam setengah yang terbahagi kepada 3 bahagian utama, kesedaran, perkongsian juga tindakan perlaksanaan ini sedikit sebanyak memberi input dan suntikan semula kepada usahawan untuk mereka membuat semakan dan forensik perniagaan sedia ada agar memastikan masterplan utama syarikat dapat diperkukuhkan. Hasil dari forensik idea perniagaan, maka akan terhasil suatu masterplan exit keluar yang di lakarkan sebagai blueprint syarikat untuk di upgrade ke peringkat seterusnya. Sebagai langkah membina perniagaan bertaraf antarabangsa, syarikat perlu di upgrade untuk membina nilai pernaigaan yang mampu menerima suntikan sokongan dari strategi partner yang ada. Selain itu, mampu menerima permintaan besar dari pasaran luar.

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GROWTH & SUSTAINABILITY IN THE MANUFACTURING COMPANY

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  • 22 Jan 2024 : Dato' Seri Ahmad Khusairi bersama Worldlclass Trade & Development Berhad membuka tirai 2024 dengan kerjasama mencipta kesedaran kepada usahawan dalam industri pengilangan dan perkhidmatan agar dapat mencapai matlamat menjadi pengimport berkapasiti besar 2024. Program yang dirancang dari bulan November 2023 bersama pengurusan tertinggi MIDF ini bakal membuka ruang dan peluang kepada usahawan industri terlibat membina kemampuan syarikat untuk menjadi pengeksport utama dengan membina pengukuhan kewangan dan mencipta ganda nilai syarikat mengguna pakai formula dan teknik yang berkesan juga dengan bantuan Malaysian Industrial Development Finance Behad, MIDF yang mempunyai pelbagai fasiliti terbaik yang boleh diguna pakai oleh usahawan. Tidak hanya tertumpu kepada SMEs dan Mid Tier sahaja, Agensi ini juga telah membuka ruang dan peluang kepada pengusaha Micro SME untuk mendapatkan pembiayaan melalui program Micro SME Financing yang ada. Kerjasama yang dibuat bersama Worldclass Trade & Development Berhad mengguna pakai kepakaran yang dimiliki oleh Dato' Seri Ahmad Khusairi ini bertujuan membuka lebih bantak ruang dan peluang kepada usahawan dalam negara untuk mengguna pakai teknik hybrid, 'Bina dan Cipta' perniagaan yang mampu mencecah nilaian ratusan juta dan mampu diwarisi oleh generasi ke generasi pewaris. Kepada anda yang ingin menyertai, sila pastikan membuat pendaftaran dan mendengar perkongsian percuma pada tarikh dan waktu yang dinyatakan dalam poster. 'United We Grow the Nation'

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PERMULAAN BARU 2024

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  • 31/12/2023 - Terima kasih kepada seluruh tenaga kerja Worldclass Trade & Deveopment Berhad, Keluarga, rakan-rakan, usahawan dan seluruh rakyat Malaysia. Tiada kejayaan yang datang dengan percuma tanpa usaha, pengorbanan dan perjuangan yang sia-sia. Dalam tempoh satu tahun ini kami telah berjaya meneruskan impian & aspirasi untuk membangun dan memberi kesedaran betapa penting usahawan bumiputera terutamanya bangkit membina legasi perniagaan. Dalam masa sama, kami juga bergerak melalui cabaran ekonomi semasa dengan penghasilan idea dan perancangan baru. Sebagai penutup bagi tahun 2023, kami telah melancarkan beberapa lagi program yang dapat membantu lebih ramai usahawan membina struktur dan pendapatan stabil untuk masa akan datang. Salam kejayaan buat semua dan Selamat datang tahun 2024. Semoga pada tahun ini, lebih banyak kejayaan yang akan ditempa oleh kita semua. DS Ahmad Designing2IPO United We Grow the Nation United We Grow the Ummah United We Grow the Economic

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Wentel Engineering bina kilang baharu daripada hasil IPO

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  • KUALA LUMPUR: Wentel Engineering Holdings Bhd yang meninjau penyenaraian di Pasaran ACE Bursa Malaysia merancang untuk membina kemudahan pengeluaran baharu daripada dana yang dijana menerusi tawaran awam permulaan (IPO). Syarikat pembuatan logam itu hari ini memeterai perjanjian penaja jaminan dengan TA Securities Holdings Bhd, bagi menama jamin sebanyak 57.5 juta saham baharu, yang akan ditawarkan kepada orang awam menerusi undian. Pengarah Eksekutif Wentel Engineering, Wong Chun Wei, berkata, IPO syarikat itu membabitkan tawaran awam sebanyak 273.2 juta saham biasa baharu dan tawaran jualan sebanyak 46 juta saham biasa sedia ada. 'Daripada jumlah 273.2 juta saham tawaran awam, 57.5 juta akan disediakan kepada orang awam Malaysia melalui undian dan 33 juta akan diperuntukkan kepada pengarah yang layak, pekerja, dan lain-lain. 'Sebanyak 38.95 juta saham akan diperuntukkan melalui penempatan persendirian kepada pelabur terpilih dan baki 143.75 juta saham akan diperuntukkan kepada pelabur Bumiputera yang diluluskan oleh Kementerian Pelaburan, Perdagangan, dan Industri (MITI). 'Hasil daripada IPO akan digunakan untuk sebahagian membiayai pembinaan dua blok kilang satu tingkat, pejabat dua tingkat dan dua blok asrama pekerja, secara kolektif dikenali sebagai kilang pembuatan baharu syarikat,' katanya dalam satu kenyataan. Sumber : Berita Harian

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ACE Market-bound Master Tec to price IPO at 39 sen apiece to raise over RM111m

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  • KUALA LUMPUR (Dec 28): Wires and cable manufacturer Master Tec Group Bhd, en route for an ACE Market listing on Jan 29 next year, has set an issue price of 39 sen per share for its initial public offering (IPO) exercise to raise RM111.39 million, of which about 45% or RM49.73 million will go to a selling shareholder via an offer for sale. The IPO comprises a public offering of 285.6 million new shares, or 28% of the enlarged share base of 1.02 billion. Of the RM111.39 million to be raised, the remaining RM61.66 million or 55% for the company will come from the public issue portion of 158.1 million new shares. Read More: https://theedgemalaysia.com/node/695451

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Mekanisme pindah firma pasaran ACE ke Pasaran Utama akan diperkenalkan

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  • KUALA LUMPUR: Suruhanjaya Sekuriti Malaysia (SC) merancang untuk memperkenalkan mekanisme pindahan diperkemas yang akan membolehkan syarikat pasaran ACE berkelayakan berpindah ke Pasaran Utama mulai 2024, kata Pengerusinya, Datuk Seri Dr Awang Adek Hussin. Beliau berkata, SC bersama-sama Bursa Malaysia sedang berusaha untuk meningkatkan kecekapan di pasaran awam bagi memudahkan tawaran awam permulaan (IPO) kepada syarikat pemula niaga menerusi pendekatan seperti mengurangkan masa ke pasaran bagi syarikat yang bercadang disenaraikan di bursa saham. 'Perincian kerangka pindahan automatik yang dicadangkan ini akan diumumkan akhir bulan ini. Pengenalan proses pindahan baharu yang diperkemas dan dipercepat akan melicinkan pindahan untuk penyenaraian bagi menggalakkan syarikat Pasaran ACE yang besar dan berkualiti ke Pasaran Utama. 'Apabila berada di Pasaran Utama, ini akan membuka peluang kepada pelabur asing yang ingin turut serta. Ini sewajarnya akan menggalakkan penyertaan asing yang lebih baik di pasaran utama kita,' kata Awang Adek dalam ucapannya pada Forum Usaha Niaga Malaysia 2023 di sini, hari ini. Kredit: Berita harian 6 Dis 2023 Berita lanjut layari Berita harian online Kredit

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PROGRAM MASTERCLASS PEMECUT SME2IPO SIRI009

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  • 25 Oktober 2023, Program Masterclass Pemecut SME2IPO bagi siri 009 yang telah berlangsung di Crystal Crown Hotel, Petaling Jaya dengan kehadiran 6 wakil yang terdiri dari CEO,CFO dan COO syarikat kini melabuhkan tirainya bagi tahun 2023. Seperti yang telah dirancang, penutup bagi tahun ini adalah yang terbaik dengan semangat dan kerjasama dari seluruh pihak yang telah bersama Worldclass Trade & Development Berhad bagi menjayakan program ini. Melalui hybrid program yang telah dirancang oleh Dato' Seri Ahmad Khusairi, beberapa pemain industri didalam Masterclass kali ini dibawa masuk dengan tujuan memecahkan kebuntuan kebanyakan usahawan bagi merangka masterplan untuk membina nilai perniagaan yang di inginkan. Teknik, formula, bahan rujukan, testimoni dan kajian yang di berikan untuk proses kefahaman bersama ini ternyata telah membuka minda peneraju syarikat betapa pentingnya bergerak secara berpasukan dan semaian aspirasi di peringkat awal penubuhan syarikat perlu dibina. Dalam sesi 'one to one' forensik idea perniagaan, beberapa elemen penting yang tidak diguna pakai oleh kebanyakan usahawan sebelum bersedia menerima dana suntikan perniagaan di kongsikan dalam masterclass yang berlangsung selama 2 hari ini membuahkan hasil. Mengenali potensi diri dan syarikat sebelum mengenal potensi kewangan dan bakal pelabur anda, kata Dato' Seri Ahmad Khusairi, Pengasas dan Peneraju program keusahawan dibawah Wordlclass Trade & Development Berhad. TIdak hanya berakhir di sini, usahawan yang menyertai program ini juga akan dipantau dan diberikan latihan secara bulanan agar mencapai hasil syarikat yang diinginkan. Sekirnaya anda diluar sana pemilik syarikat yang berani dan mahu membina legasi perniagaan anda, ayuh sertai kami.

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MAJLIS PERASMIAN CAWANGAN KEDUA (2) ANAK SYARIKAT META DOCTO HOLDINGS BERHAD

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  • 18 November 2023; Sebuah lagi kejayaan buat Docto Aircond Sdn Bhd bersama pasukan apabila cawangan ke2 di Eco Majestic telah secara rasmi beroperasi. Kerja keras dari semua pihak bagi menjayakan pembukaan cawangan ini perlu diberikan kredit & perhatian. Terima kasih di ucapkan kepada Pengarah MARA Negeri Selangor, Dr Ahmad Sabri yang telah memberikan sokongan penuh kepada pembukaan cawangan kedua ini. Majlis ini telah dirasmikan oleh Tuan Amirudin Abdullah Pengarah urusan Meta Docto Holdings Berhad dan Docto Aircond Group di iringi Penasihat Korporat & Strategi Syarikat, Dato' Seri Ahmad Khusairi bin Bani Hashim AlHaj. Meta Docto Holdings Berhad merupakan syarikat SPV yang berada dibawah program Dato’ Seri Ahmad Khusairi iaitu Pemecut2IPO bagi siri 005. Dato’ Seri Ahmad Khusairi yang juga merupakan Penasihat Korporat syarikat ini melihat kesungguhan dan kekuatan tuan Amir dan pasukan memainkan peranan yang sangat penting bagi membawa perniagaan mereka ke peringkat IPO. IPO bukan sahaja memerlukan pengukuhan kewangan dan sumber pendapatan tetapi kekuatan pasukan, kesabaran dan kepercayaan memainkan peranan yang sangat penting. Amat apabila Aspirasi di tanam kepada seluruh anggota pasukan akan pergerakan yang dibuat seiring dengan perlaksanaan yang ingin di capai. “Fundamental” asas perlu di pelajari oleh semua usahawan bukan hanya yang berada di dalam servis perkhidmatan sahaja. Hasrat ingin membantu lebih ramai anak muda berjaya dalam kemahiran yang mereka miliki sehingga mampu untuk membuka syarikat perkhimatan servis membaiki penyejuk beku mereka sendiri di masa akan datang adalah sasaran utama. Setiap tenaga kerja diberikan peluang untuk membina kerjaya dan masa hadapan Bersama Docto Aircond Sdn Bhd. Pembukaan cawangan pertama di Putrajaya telah menghasilkan nilai pendapatan bulanan sebanyak hampir 250K++ sebulan walaupun tidak beroperasi secara penuh. Namun pembukaan cawangan ke 2 di Eco Majestic Semenyih ini mensasarkan pencapaian yang lebih dengan mengambil kira jumlah kepadatan penduduk berserta permintaan juga waktu pengoperasian yang lebih Panjang.

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MASTERCLASS ROAD2IPO SIRI 009 PENUTUP 2023

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  • 14 Okt 2023: Worldclass Trade & Development Berhad sekali lagi akan melaksanakan Program Fundamental ke arah membina syarikat bertaraf Korporat dengan mencipta nilai dan legasi perniagaan pada 25 Okt - 26 Okt 2023. Pengasas nya Dato' Seri Ahmad Khusairi berkata, peratusan usahawan melayu berstatus SME di dalam negara masih kurang memahami fundamental atau asas sebenar perniagaan yang dilaksanakan. Kebanyakan usahawan hanya tertumpu kepada money market yang tidak disusun secara baik dalam management syarikat. Pengakhiran yang kurang baik apabila syarikat terpaksa dijual dan di tutup oleh kerana beban liabiliti yang tidak tertanggung. Oleh kerana itu, pendidikan mengenali 'CM', atau ICM amat penting bagi usahawan melayu terutamanya bagi membina nilai perniagaan yang mampu menembus pasaran global dengan teknik dan kaedah yang tepat serta masterplan yang kukuh. Pendaftaran yang telah dibuka sejak awal september, telah mendapat maklum balas dari usahawan yang mempunyai aspirasi dan semangat tinggi dalam membina legasi perniagaan.

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MBSB selesai ambil alih seluruh kepentingan dalam MIDF

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  • Ketua Pegawai Eksekutif Kumpulan MBSB, Rafe Haneef, berkata penyelesaian penggabungan itu adalah menarik memandangkan kumpulan yang diperbesarkan itu akan menjadi lebih berdaya tahan dari segi kewangan dan sebagai pemain utama dalam perbankan Islam. Malah, katanya, kumpulan itu juga akan mempunyai kapasiti yang diperkukuh menerusi lembaran imbangan yang lebih besar, jangkauan yang lebih luas dan pelbagai tawaran baharu daripada perbankan pengguna, perbankan komersial dan perusahaan kecil dan sederhana (PKS) kepada perniagaan perbankan korporat dan pelaburan. SUMBER: BERITA HARIAN OCTOBER 2, 2023

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Public Bank, Syarikat Jaminan Pembiayaan Perniagaan Berhad beri pembiayaan RM1 bilion kepada PKS

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  • PETALING JAYA: Public Bank Berhad akan memberi pembiayaan bernilai RM1 bilion kepada perusahaan kecil dan sederhana (PKS) menerusi kerjasama strategik dengan Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP), sebuah agensi di bawah Kementerian Kewangan. Pembiayaan bernilai RM1 bilion itu akan meliputi kesemua skim kewangan yang dijamin oleh SJPP seperti Skim Jaminan Modal Kerja (WCQS), Skim Jaminan Kerajaan PEMULIH (PGGS) dan lain-lain. Untuk lebih berita sila layari Utusan Malaysia edisi 21 September 2023. Sumber utusan Malaysia https://www.utusan.com.my/ekonomi/2023/09/public-bank-syarikat-jaminan-pembiayaan-perniagaan-berhad-beri-pembiayaan-rm1-bilion-kepada-pks/

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SC expects to see 35 to 40 IPOs in 2023, says chairman

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  • KUALA LUMPUR (Sept 22): The Securities Commission Malaysia (SC) said Malaysia’s initial public offering (IPO) pipeline remains healthy, and expects to see 35 to 40 IPOs this year. Its chairman, Datuk Seri Dr Awang Adek Hussin, said the SC is working to speed up the IPO process, and reduce time-to-market to ensure Malaysia’s competitiveness and attractiveness. “Malaysia would further facilitate companies to list on Bursa Malaysia and attract more investors,” he said at a panel session titled “Macro Resilience and Market Insights” at Invest Malaysia New York 2023 on Thursday. In a clear message to foreign fund managers, Awang Adek said the Malaysian capital market remains resilient, with total funds raised hitting a 10-year high of RM179.4 billion in 2022 despite tough global challenges. He also said that total funds raised in Malaysia’s equity and corporate bond markets reached RM58.9 billion in the first six months of this year. “This signals that the equity and bond markets have remained a significant source of financing for the private sector,” he said. For more news update refer the edge edition 22 September 2023. Source: Bernama 22/09/2023 https://theedgemalaysia.com/node/683550

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Instacart founder exits with US$1.1b fortune after IPO

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  • 20 September : Usia Muda bukan penghalang kepada kejayaan. Ini lah juga impian dan harapan kami bersama usahawan yang mempunyai tekad membawa perniagaan ke peringkat IPO sehinga mencecah nilaian USD 1Billion. Jadikan aspirasi Kita bersama. United We Grow The Nation Sumber berita: the Edge https://theedgemalaysia.com/node/683224

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PRIVATE COACH BUBBLE02 SPV 006 2022

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  • 14 Oktober 2022- Pemecut2IPO bagi siri SPV006 telah di adakan di pejabat urusan Bubble02 di Bangi dengan penyertaan Pengasas syarikat Tuan Arifin Marzuki beserta anak - anak sebagai pewaris perniagaan serta bahagian pengurusan utama Bubles02. Dato' Seri Ahmad Khusairi awalnya telah bertemu tuan Arifin pada majlis MIHAS 2022 dan melihat industri yang diusahakan ini boleh dibawa keperingkat lebih jauh dengan membina semula penyusunan syarikat dengan lebih bersistematik. Menurut tuan Arifin, syarikat ini ingin di serahkan kepada anak sulung beliau, Ain Azizah Arifin bagi meneruskan legasi 'Natural Oxygen Water' ini. Pada sesi pembelajaran, membina masterplan perniagaan banyak perkara yang di lihat perlu di tambah baik, serta pemecahan kod industri perlu dibuat bagi memastikan cash flow syarikat kekal pada tahap memberangsangkan. Dato' Seri Ahmad Khusairi juga telah berkongsi teknik, bagaimana kaedah dan teknik ganda nilai syarikat yang dapat membina nilaian syarikat sehingga mencecah billion ringgit. Menurut tuan Arifin walaupun beliau telah bersama banyak syarikat sebelum ini, ternyata formula mengira FRM sebenar tidak pernah di ketahui. Namun pada sesi kelas hari ke2 telah memberikan gambaran dan realiti bagaimana syarikat yang berkepentingan antarabangsa dan dalam negara dapat dibawa ke pasaran bursa mengikut KPI yang telah ditetapkan. Tuan Arifin juga memaklumkan, beliau akan mengguna pakai formula mengira nilai syarikat ini untuk mendapatkan dana suntikan dari dalam dan luar negara bagi membina pasaran Bubble02 yang lebih kukuh dimasa akan datang. Tidak ada yang mustahil sekiranya setiap usahawan mengenali fundamental dan pecahan kod industri masing-masing' kata Dato' Seri Ahmad Khusairi. Tahniah juga di ucapkan kepada tuan Arifin serta syarikat Bubbles02 yang telah berjaya menerima suntikan dana dari PERNAS sebanyak R5J bagi membantu memperkembangkan lagi jenama ini di dalam dan luar negara. Kami di Worldclass Trade & Development Berhad mendoakan semoga Bubbles02 akan terus berjaya di masa hadapan dengan membawa banyak lagi kebaikan kepada seluruh negara.

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PENDEDAHAN CAPITAL MARKET DI PERINGKAT GOLONGAN MUDA

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  • 12 September 2023 - Dalam Program Kepimpinan InvestED yang berlangsung pada 7 Ogos 2023, Pengerusi Suruhanjaya SC Datuk Seri Dr Awang Adek Hussin berkata golongan pelabur muda masih lagi rendah dan suntikan pendidikan sangat diperlukan bagi merancakkan pasaran bursa pada masa akan datang. Memetik dari cicipan berita yang dimuat naik oleh berita harian pada tarikh tersebut, beberapa perkara dapat di ambil iktibar dan pendekatan khususnya kepada golongan usahawan kategori anak muda negara yang rata-rata masih belum mengetahui secara meluas kepentingan 'Capital Market' dalam perniagaan. Worldlcass Trade & Development Berhad menyambut baik saranan ini, dan komited untuk terus melatih dan mendidik usahawan melalui Program ROad2IPO yang telah dilaksanakan semenjak tahun 2021. kerjasama pertama antara SC, Kementerian Kewangan, Kementerian Pendidikan Tinggi, Bursa Malaysia, Perbadanan Pembangunan Industri Sekuriti (SIDC) serta peserta industri pasaran modal terkemuka ini di lihat bakal melahirkan lebih ramai Eksekutif muda yang dapat memberikan nilai tambah kepada sesebuah perniagaan. Semoga dengan saluran yang dibuat oleh SC ini akan mendapat lebih banyak sambutan dari usahawan dari golongan muda untuk mengikuti dan mempelajari 'Fundamental of Capital Market'. Sumber Berita Harian 7 Ogos 2023

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MESYUARAT KERJASAMA MARA BERSAMA DOCTO AIRCOND@META DOCTO HOLDINGS BERHAD

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  • 8 Mac 2023 - Dato' Seri Ahmad Khusairi telah mengadakan sesi lawatan kerjasama ke pejabat Pengarah Majlis Amanah Rakyat (MARA) Negeri Selangor, Dr Ahmad Basri yang juga disertai oleh pasukan pengurusan utama Meta Docto Holdings Berhad. Dalam sesi lawatan kerjasama ini, penerangan mengenai projek dan hala tuju Docto Aircond sebagai anak syarikat kepada Meta Docto Holding Berhad telah dibuat kepada tuan pengarah. Hala tuju, perancangan menambah cawangan juga kerjasama bersama pihak MARA Selangor telah dibentangkan bagi memperluas lagi perkhidmatan penghawa dingin juga peluang latihan dan pekerjaan kepada pelajar serta alumni institut Kemahiran MARA negeri Selangor. Sebagai Penasihat Korporat Syarikat, Dato' Seri Ahmad Khusairi mahu lebih banyak syarikat yang bernaung di bawah Program Pemecut 2IPO WCD dapat bekerjasama dengan agensi kerajaan sedia ada dengan penggabungan kerjasama yang dapat membentuk nilai tambah kepada syarikat usahawan. Hasil dari pertemuan yang dibuat, MARA Selangor bersetuju untuk memberikan sokongan kepada Docto Aricond untuk pembukaan 5 lagi cawangan melalui kertas kerja yang akan dihantar kelak. Semoga kerjasama ini dapat memberikan suntikan semangat kepada usahawan bumiputera dalam negara untuk terus memperkembangkan perniagaan dengan lebih berdaya saing.

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SESI PENERANGAN REVOLUTION SME2IPO MATRADE

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  • 20 Januari 2023- Sesi pertemuan Dato' Seri Ahmad Khusairi bersama pengurusan tertinggi MATRADE yang dihadiri Tuan Abu Bakar bin Yusof, Timbalan Ketua Pegawai Eksekutif MATRADE bagi membuat penerangan dan perbincangan program yang akan dilaksanakan dengan kerjasama bahagian Pembanguan Pengeksport. Dalam mesyuarat yang berlangsung selama 1 jam setengah, bersama beberapa lagi perjawatan, Dato' Seri telah mencadangkan beberapa kaedah dan teknik bagi membantu usahawan pengeksport dibawah MATRADE. Selain dari membawa produk yang ada ke pasaran luar, dana juga memainkan peranan yang penting bagi memastikan setiap dari permintaan yang diterima dapat dipenuhi oleh pihak usahawan. Mengikut maklumat yang diterima, pada tahun 2022, MATRADE telah berjaya mencapai KPI pengeksport melebihi RM2.848 Trillion dengan memberikan nilai tambah yang sangat menguntungkan serta memberi impak kepada usahawan dan negara. Namun begitu dana yang lebih besar diperlukan bagi membawa lebih banyak usahawan negara yang mempunyai kelebihan dan pencapaian untuk dibawa ke pasaran luar pada tahun 2023. Oleh yang demikian, usahawan yang berdaftar dibawah MATRADE perlu terus mencipta lebih banyak kejayaan dengan menghasilkan lebih banyak produk yang dapat mencakupi permintaan pasaran global hari ini. Dengan kerjasama yang dibuat bersama WCD, Dato' Seri Ahmad Khusairi percaya, usahawan MATRADE mampu digilap dan diberi lebih banyak pendedahan mengenai kepentingan 'Capital Market' bagi memudahkan mereka mendapatkan lebih banyak dana memperkemas dan memperkembangkan perniagaan. Hasil perbincangan, sesi saringan bakal dilaksanakan pada Julai 2023 dengan jemputan yang akan dibuat kepada seluruh usahawan Mid Tier yang berdaftar dibawah platform MATRADE. Terima kasih diucapkan kepada seluruh tenaga kerja MATRADE yang menyokong pergerakan ini.

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JEMPUTAN MAJLIS BERBUKA PUASA MRANTI

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  • 18 May 2023- Dato' Seri Ahmad Khusairi telah dijemput menghadiri majlis berbuka puasa MRANTI bersama rakan strategi juga tetamu kehormat yang hadir bagi meraikan sambutan bulan Ramadhan 1444H. Majlis yang berlangsung di MRANTI park telah dihadiri oleh rakan strategi ini memberikan lebih peluang mengenali dan berkongsi idea dan perkembangan terkini syarikat. MRANTI merupakan sebuah agensi pengkomersilan penyelidikan & inovasi Malaysia yang banyak membuka peluang kepada usahawan bagi mempercepatkan idea mereka masuk ke pasaran. Seiring dengan kemajuan dunia semasa, idea yang perlu dihasilkan perlu memenuhi kehendak pasaran juga mampu memberikan solusi terbaik kepada pengguna mahupun masyarkat hari ini. Pelbagai perkhidmatan yang disediakan di MRANTI yang boleh diguna pakai oleh syarikat milik usahawan. Dato' Seri Ahmad Khusairi juga berpeluang berkongsi idea dan pergerakan Worldclass Trade & Development Berhad dalam memacu program keusahawanan yang sedang dilaksanakan oleh nya. Kerjasama yang dibuat oleh Dato' Seri Ahmad Khusairi dan pasukan bersama pelbagai agensi adalah bagi memberikan lebih banyak ruang dan peluang kepada usahawan melayu terutamanya menerokai idea & teknologi yang semakin pantas bergerak.

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MAJLIS PERASMIAN CAWANGAN PERTAMA META DOCTO HOLDINGS BERHAD SPV005

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  • 20 Februari 2023 - Industri baik pulih penghawa dingin kebanyakan dikuasai oleh syarikat yang dimiliki oleh golongan bukan bumiputera. Dengan kepakaran hampir 20 tahun dalam industri baik pulih dan selenggara penghawa dingin, Amirrudin Abdullah pengasas kepada Docto Aircond Sdn Bhd, dan S&A Bintang Sdn Bhd melihat peluang yang amat luas bagi syarikat jika tidak dimanfaatkan. Pada majlis yang berlangsung di Cyberjaya ini, sebagai satu langkah ke arah pembangunan perniagaan yang lebih mampan, sebuah cawangan telah dibuka bagi merealisasikan impian dan hasrat untuk membawa perniagaan ini ke peringkat IPO. Meta Docto Holdings Berhad yang telah ditubuhkan pada tahun 2022, akan menampung segala kos pembinaan projek anak-anak syarikat juga bertindak sebagai Syarikat pengurusan induk yang akan dipacu ke level IPO pada tahun 2026, kata Penasihat Korporat syarikat Dato' Seri Ahmad Khusairi bin Bani Hashim. Dato' Seri juga memaklumkan, beberapa perancangan masterpan telah dirangka dan persediaan untuk memulakan fasa pertama mendapatkan dana melalui teknik raising fund sedang dijalankan. Sebagai salah seorang usahawan yang juga merupakan anak didik kepada Majlis Amanah Rakyat (MARA), Amiruddin juga berharap dapat meneruskan kerjasama bersama MARA dalam membangun dan melatih lebih ramai pelatih dan anak didik MARA dalam program yang dianjurkan oleh syarikatnya. Majlis yang juga telah dirasmikan oleh Pengarah Majlis Amanah Rakyat (MARA) Negeri Selangor, DR Ahmad Sabri memberikan persepi yang sangat baik dengan kejayaan MARA menghasilkan usahawan yang berjaya membina perniagaan sehingga ke tahap ini. Dalam Majlis ini juga, Dr Ahmad Sabri memaklumkan, bahawa MARA akan sentiasa menyokong pergerakan syarikat yang mahu bergerak dan menjana kejayaan terutamanya usahawan yang berdaftar dibawah Agensi terbabit.

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WAQF & ISLAMIC CAPITAL MARKET CONFERENCE

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  • 20 Julai 2023 - Jemputan menghadiri Persidangan Waqf & Islamic Capital Market yang diadakan di Suruhanjaya Sekuriti Malaysia yang turut dihadiri oleh tokoh korporat juga usahawan yang mahu mengetahui dengan lebih dalam mengenai kelebihan 'Islamic Capital Market'. Selain masterplan yang kukuh, dana yang diterima dari pelabur juga perlu melalui proses patuh syariah, dan ianya perlu mengikuti semua aktiviti dalam pasaran modal yang mematuhi prinsip islam. Sebuah program yang sangat baik yang di anjurkan oleh Suruhanjaya Sekuriti Malaysia serta dapat memberikan penjelasan dengan lebih jelas kepada syarikat-syarikat yang bercadang membawa perniagaan ke peringkat yang lebih jauh iaitu IPO. Walaupun ianya masih baru dikalangan usahawan negara, namun ia mampu memberikan laluan lebih baik kepada kebanyakan usahawan yang bercita-cita membina perniagaan bertaraf IPO juga mematuhi prinsip islam.

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REFORM DAN BINA SYARIKAT BERTARAF IPO BERHAD 01/2023

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  • 24 Januari 2023 - Worldclass Trade & Development Berhad terus bergerak melaksanakan misi & visi melatih juga membantu usahawan bumiputera islam khususnya mengenali potensi syarikat agar dapat bersaing seiring syarikat berkepentingan antarabangsa. Dengan kerjasama bersama Halal Development Corporation Berhad (HDC) sebuah program telah berjaya dilaksanakan di bilik latihan HIP yang bertempat di HQ HDC, Damansara. Antara perkongsian yang dibuat oleh pengasas, Dato' Seri Ahmad Khusairi adalah pentingnya menjaga 7 prinsip utama dalam perniagaan. Etika yang baik dalam pengurusan kewangan juga kaedah membina masterplan perniagaan yang boleh membantu syarikat mendapatkan suntikan dana modal yang lebih berkesan. Program yang berlangsung selama satu(1) hari ini telah membuka peluang usahawan yang hadir mengenali dengan lebih jelas aspirasi dan hala tuju perniagaan yang sedang dilaksanakan yang bukan sekadar menjalankan perniagaan tetapi membina legasi perniagaan untuk generasi akan datang. Worldclass Trade & Development Berhad juga akan melaksanakan beberapa lagi program lain dengan kerjasama bersama HDC dan HIP bagi membantu lebih ramai usahawan terutama dari sudut pendidikan & latihan. Pengasasnya Dato' Seri Ahmad Khusairi amat yakin dengan kesedaran yang diberikan, juga tindakan perlaksanaan yang dibuat oleh usahawan hari ini, pasti akan dapat mengubah persepsi dan pergerakan syarikat bagi masa akan datang. Memetik dari kata-kata bekas Presiden South Africa, mendiang Nelson Mandela ' Education is the most powerful weapon which you can use to change the world'.

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PROGRAM PERSEDIAAN DAN PENYUSUNAN SYARIKAT KE IPO@BURSA SAHAM & ANTARABANGSA 01/2022

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  • 6 Disember 2022 - Seawal jam 8.30pagi Program Persediaan dan penyusunan syarikat ke IPO@Bursa Saham & Antarabangsa yang bertempat di Idea Hotel, Kuala Lumpur telah bermula. Kehadiran 30 usahawan dari pelbagai industri yang berdaftar dibawah Majlis Amanah Rakyat (MARA) dari dalam dan luar kawasan kuala lumpur yang bersungguh untuk mendapatkan ilmu bagi memperkembangkan perniagaan masing-masing telah hadir. Program yang telah dirasmikan oleh Pengarah bahagian Pembangunan Usahawan (MARA) ini telah membuktikan masih ramai usahawan bumiputera yang belum mengenali 'fundamental' atau asas membina perniagaan. Dalam ucapan yang diberikan oleh tuan Yahaya bin sani, beliau menyebut bahawa betapa pentingnya kesedaran dapat diberikan kepada usahawan mengenai 'Capital Market' bagi memudahkan pergerakan syarikat untuk diperkembangkan. Program yang pertama kali dianjurkan oleh Bahagian pembangunan Usahawan MARA dengan kerjasama Wordlclass Trade & Development Berhad ini bakal membuka peluang kepada usahawan yang hadir untuk memperkembangkan perniagaan melalui teknik dan kaedah yang lebih berkesan dalam mendapatkan sumber dana modal. Selain itu, usahawan yang hadir juga berpeluang melalui proses saringan dan pemantauan khas perniagaan dari pengasas program Dato' Seri Ahmad Khusairi selama 3 bulan selepas kelas berakhir.

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