Rising automation in F&B sector boosts ASM's outlook
Managing director Chan Kok Heng said this presents significant growth opportunities for solution providers like ASM Automation.
"The company is able to offer customised, end-to-end automation systems designed to enhance productivity, quality control, and operational agility amid changing consumer preferences and rising cost pressures," he told Business Times.
ASM is principally involved in the provision of automation machinery solutions and complementary solutions, primarily for the F&B manufacturing industry.
Chan said what sets ASM apart is its ability to deliver comprehensive and customised automation solutions.
Its core expertise covers design and development, fabrication, installation, testing and commissioning of both front-of-line processing and end-of-line packaging systems.
He added that the company has design and development (D&D) capabilities that enable it to expand its range of automation machinery solutions.
ASM Automation also meets the standards required by multinational clients and provides dependable and timely technical support.
Chan said one of the company's major clients is Liwayway Group, which has consistently contributed a significant portion to its revenue over the years.
He added that ASM Automation has secured 29 new customers comprising local and multinational companies based in Malaysia, Singapore, Indonesia and the Philippines.
"As such, in the event that we are unable to secure sales from any of our major customers, we believe that we will be able to secure additional sales from other customers to compensate from the loss of sales," he said.
ASM Automation made a steady debut on the ACE Market of Bursa Malaysia yesterday, having opened at its initial public offering (IPO) price of 17 sen.
At the opening bell, it was the most actively traded counter, with more than 10 million shares changing hands.
The IPO raised RM21.82 million through a public issue of 128.34 million new shares, which made up 24 per cent of ASM Automation's enlarged issued share capital of 534.77 million shares.
The listing also involved an offer for sale of 53.48 million existing shares, representing 10 per cent of the enlarged issued share capital.
ASM Automation has allocated RM11.4 million, more than half of the IPO proceeds, for the acquisition of a 70,000-square-foot plot of land and the construction of a new factory to boost its production and assembly capacity.
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