Eco-Shop positive about performance despite price hike
Its chief financial officer Chong Yew Kai said the company raised prices to RM2.40 from RM2.20 in 2022 and saw no negative market reaction.
"I see no changes in company performance (after the price increase), it was as per our expectation. So, we are not seeing any different kind of market reaction.
"Of course, (we are in) a transition period (now). Moving forward, we are looking at a very strong performance," he told a press conference after today's listing.
Recently, Eco-Shop posted a higher net profit of RM61.72 million for the third quarter of its financial year ending Feb 28, 2025 (3Q FY2025), compared to RM42.57 million in the same period a year ago.
The revenue increased 17.2 per cent to RM736.35 million in 3Q FY2025 from RM628.41 million previously, driven by the expansion of the group's store network with the opening of 26 new outlets, bringing the total number of stores to 349 in 3Q FY2025 from 278 in 3Q FY2024.
Meanwhile, Eco-Shop chief executive officer and executive director Jessica Ng said the company would evaluate their opportunities to venture into the ASEAN market in the future, as the dollar shop segment in the region is still new.
Dollar shops offer a wide range of products at fixed, low prices and typically carry daily items like household goods, snacks, and personal care products, and may also include items like stationery and hardware.
However, she said the group would likely focus their business expansion in Malaysia for now, so that more Malaysians would have access to affordable products.
As of today, Eco-Shop has 358 stores in Malaysia, comprising 336 Eco-Shop stores and 22 Eco-Plus stores.
Today, Eco-Shop debuted on the Main Market of Bursa Malaysia at RM1.25, a premium of 12 sen from its initial public offering (IPO) price of RM1.13, with 25 million shares traded.
Under its listing exercise, the company had raised RM419.87 million, where RM200 million or 51 per cent would be utilised for distribution centre expansion, RM56.27 million (14.4 per cent) for new store opening, and RM8.52 million (2.2 per cent) for IT hardware and software.
"RM100 million or 25.5 per cent would be utilised to repay bank borrowings, and RM27.32 million (7.0 per cent) for IPO and listing expenses," it said.
At 5 pm, Eco-Shop closed the day trading at RM1.20, seven sen higher than its issue price of RM1.13, with the company also emerging as the most active stock for the day with 209.16 million shares changing hands.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
5 days ago
- Barnama
Nippon Kinzoku Boosts Sales Of Eco-friendly Stainless Steel Finish
KUALA LUMPUR, July 17 (Bernama) -- Tokyo-based Nippon Kinzoku Co Ltd has announced it will ramp up sales of its Long Die Life (L-DieL) finish stainless steel, a surface-treated material designed to reduce die wear during press operations. L-DieL works by softening the passive oxide film on stainless steel—a thin yet ultra-hard layer of chromium oxide that protects against corrosion but causes significant wear on pressing dies. The treatment mitigates this effect, improving productivity and extending tool life. Certified as an 'Eco-Product', Nippon Kinzoku, in a statement said L-DieL supports customers in cutting costs while also aligning with the company's sustainability goals, including achieving net-zero carbon dioxide emissions by 2050.
Malaysian Reserve
15-07-2025
- Malaysian Reserve
Discord Launches Orbs Globally: New Virtual Rewards Transform Brand Interactions into More Player Benefits
Players worldwide can now earn Orbs to redeem for exclusive perks like Nitro credits, avatar decorations, profile effects and badges, and more SAN FRANCISCO, July 14, 2025 /PRNewswire/ — Discord announces the global launch of Orbs, a new virtual reward players can earn by completing Quests – the platform's opt-in reward-based advertising experience. This milestone launch marks the next evolution of Discord's advertising offering, which invites players to engage with brands through actions that fit authentically within their gaming experience. Orbs opens opportunities for more premium experiences on Discord for all users by offering access to the Shop and Discord Nitro without a monetary commitment. Users can redeem Orbs in the Shop for new, Orbs-exclusive items like Nitro credits – a limited time access version of Discord's premium subscription that offers enhanced streaming and customization features – as well as a unique profile badge, and a matching profile effect and avatar decoration. Beyond these exclusives, Orbs also provides an alternative path to obtain many popular Shop collections without spending money. Developed based on feedback from Discord's most dedicated users, Orbs is a feature that reflects Discord's user-first approach to building products and advertising solutions. A recent survey of Discord users revealed that 82% of respondents said they would want to earn a virtual currency on Discord with 46% saying that a virtual currency would improve their experience on the platform [Source: Discord user survey, September 2024]. During its recent beta, millions of Orbs were earned and redeemed over the seven-week pilot, driving a 16x increase in first-time Shop purchasers with 79% first-time Shop buyers. For advertisers, Orbs make campaign launches even easier – advertisers no longer need to create their own reward or wonder if their reward will resonate with their target audience. 'By rewarding players with something they value, Discord is giving brands the ability to create an advertising experience that feels like gameplay,' said Peter Sellis, Senior Vice President of Product at Discord. 'Our focus is solely on creating the most authentic, player-centric advertising platform in the galaxy. With the launch of Orbs, we're helping brands drive discovery and engagement in a way that feels natural to how people already use Discord.' Since launching its advertising program one year ago, Discord is scaling its advertising business with a deliberate, user-first approach to offer more authentic experiences for players with its reward-based ad solution, Quests, while also unlocking opportunities for advertisers to tap into the massive and uniquely engaged audience on the platform. Quests make brands feel like they're 'part of the mission' rather than an interruption. In fact, more than 50% of users who have seen or interacted with a Quest in the past month say that Quests improve their experience on Discord with players even proactively seeking out new Quests to complete. [Source: 2025 Discord internal survey of ~1,000 Quests users]. Orbs are now available to Discord's more than 200 million monthly active users. Discord will continue to look for ways to expand how users can redeem Orbs and offer Nitro subscribers more compelling rewards and deals across the ecosystem. About DiscordDiscord is the communications platform that enables you to build meaningful connections around the joy of playing games through voice, video and text features. As the only communications platform purposely built for people who play multiplayer games, Discord has a highly engaged community of +200 million monthly active users who spend a combined 1.5 billion hours playing games each month across thousands of game titles on PC alone. Headquartered in San Francisco, Discord is free to download at with an optional subscription offering called Nitro that offers enhanced streaming and customization features. For more information, please contact: press@
The Star
11-07-2025
- The Star
Deloitte: Malaysia leads Southeast Asia in IPO performance for 1H25
KUALA LUMPUR: Malaysia emerged at the top of the leaderboard for Southeast Asia's initial public offering (IPO) capital market with 66 per cent or US$940 million (US$1=RM4.24) raised across Southeast Asia during the first half of 2025 (1H 2025), according to the Deloitte Mid-Year IPO Snapshot 2025 report. The report highlighted that Malaysia's IPO capital market continued its impressive momentum from last year, leading the Southeast Asia bourses in all three key metrics: total IPO funds raised, market capitalisation and number of IPOs. In a statement today, Deloitte said household brand Eco-Shop Marketing Bhd led the IPO amount raised by Malaysia at US$230 million, and its share price rose six per cent on its first day on the Main Market of Bursa Malaysia. "With 32 IPOs in the 1H 2025, Malaysia has six top-10 listings in the region in 2025. It has the largest IPO listing in Southeast Asia thus far - a dollar store chain that raised US$230 million. "Malaysia recorded approximately 48 per cent increase in the number of listings, with IPO amount raised increasing by approximately 109 per cent, along with a corresponding uptick in total IPO market capitalisation by approximately 165 per cent," it said. According to the Deloitte report, the Southeast Asia capital market recorded 53 IPOs in 1H 2025, raising over US$1.4 billion in IPO proceeds and achieving US$7.7 billion in IPO market capitalisation. "This compares to 67 IPOs in 1H 2024, which raised under US$1.4 billion with over US$5.8 billion in market capitalisation," it said. Deloitte Malaysia Transactions Accounting Support partner Wong Kar Choon said the IPO outlook in Malaysia remains optimistic for the remainder of 2025, with 32 listings recorded as of June 30, 2025, putting Bursa Malaysia on track to meet its full-year target of 60 listings. "However, the recent US trade tariffs and geopolitical tension have introduced uncertainty, and we foresee that there could be an impact on the IPO market. "This situation may lead to cautious investor sentiments as investors may adopt a more cautious approach and favour less risky assets during these uncertain periods," he said. Wong added that companies might delay their IPO plans, especially for export-driven companies that are affected by supply chain disruptions and cost pressures. - Bernama
