Latest news with #ACEMarket
The Sun
9 hours ago
- Business
- The Sun
ASM Automation makes ACE Market debut, shares open unchanged from IPO price
KUALA LUMPUR: ASM Automation Group Bhd, a home-grown automation machinery solutions provider, marked a key milestone today with its listing on the ACE Market of Bursa Malaysia. The company's shares opened at 17 sen each, matching the initial public offering (IPO) price. The counter closed at 16.5 sen, 0.5 sen or 2.9% below the offer price, with 51.425 million shares traded. Founded in 1994, ASM has evolved from a small-scale custom automation provider into a regional player in industrial automation, specialising in front-of-line processing and end-of-line packaging solutions for the food and beverage (F&B) manufacturing sector. Its services are supported by equipment upgrades, after-sales service, and a strong focus on design and development (D&D), enabling clients to automate and optimise their production lines for improved efficiency and reduced labour dependency. ASM raised RM21.82 million through the issuance of 128.34 million new shares. Of the IPO proceeds, RM11.4 million will be used for land acquisition and construction of a new factory to expand production and assembly capabilities; RM2.3 million for the purchase of machines and equipment to support operational growth and customer engagement; RM2 million to enhance D&D activities; RM1.92 million for working capital; and RM4.2 million to cover listing expenses. M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. Commenting on the company's debut, ASM managing director Chan Kok Heng said, 'Today marks a defining chapter in ASM's 30-year journey. Our successful listing is a testament to our team's dedication, the trust of our customers, and the confidence of our investors. With the capital raised, we're poised to scale up our operations, strengthen innovation and reinforce our leadership in automation.' M&A Equity Holdings managing director Datuk Bill Tan said, 'ASM's strong foundation, export footprint, and D&D capabilities make it well-positioned for regional growth. The market's response underscores investor confidence in its strategic direction and long-term prospects.' Echoing the sentiment, Eco Asia Capital Advisory managing director Kelvin Khoo, who is also the company's financial adviser, noted, 'ASM's listing reflects its strong fundamentals, operational maturity, and visionary leadership. With growing demand for intelligent automation, the group is well-positioned to deliver sustained value to shareholders.' The listing is set to catalyse ASM's next growth phase, including the development of its new factory, expanded R&D efforts, and penetration into new markets. As manufacturers increasingly turn to automation to optimise efficiency and reduce labour reliance, ASM aims to play a pivotal role in enabling digital transformation across industries.
The Star
14 hours ago
- Business
- The Star
FBM KLCI edges up on cautious optimism despite external uncertainties
KUALA LUMPUR: Bursa Malaysia ended the morning session on a firmer note, as improved sentiment and selective buying supported the broader market despite lingering external uncertainties. At 12.30 pm, the FBM KLCI rose 6.81 points, or 0.44%, to 1,548.34, just shy of its intraday morning high of 1,549.78. There were 397 gainers, 430 decliners, while 469 stocks remained unchanged. The traded volume stood at 2.1 billion shares worth RM1.2bil. TA Securities noted that local market sentiment is likely to turn cautious, as investors await further clarity on ongoing trade negotiations. It added that a looming deadline next week could see the Trump administration reimpose sweeping tariffs. 'Immediate index support remains at 1,490, with stronger supports found at 1,465, followed by 1,444. 'Immediate resistance stays at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead,' TA said. Malacca Securities maintains a positive stance on data centre (DC) and renewable energy (RE) related stocks, given the recent agreement signed by Gamuda with a renewable energy developer. 'Also, with Tenaga Nasional's capex extending into 2H25, we believe this will benefit power infrastructure specialists as well as cable manufacturers. 'On the construction front, we expect the sector to trade on a firmer footing, on the back of higher project billings and anticipation of the final alignment announcement for the ART system in Johor, with an estimated value of RM6bil to RM7bil,' it said. Malaysian Pacific Industries rose 28 sen to RM21.68, PETRONAS Dagangan added 20 sen to RM21.46, Panasonic Manufacturing gained 16 sen to RM11.80 and MISC climbed 15 sen to RM7.70. Meanwhile, consumer stocks were among the top losers on Bursa Malaysia. Dutch Lady dropped 50 sen to RM29.24, F&N fell 28 sen to RM28.80, Ajinomoto eased 10 sen to RM12.80, and Amway declined eight sen to RM5.02. ACE Market debutant, ASM Automation, fell 0.5 sen to 16.5 sen with 45.15 million shares traded.
New Straits Times
20 hours ago
- Business
- New Straits Times
ASM Automation debuts on ACE Market at IPO price
KUALA LUMPUR: ASM Automation Group Bhd made a steady debut on the ACE Market of Bursa Malaysia, opening at its initial public offering (IPO) price of 17 sen. The automation solutions provider was the most actively traded counter at the opening bell, with over 10 million shares changing hands. The IPO raised RM21.82 million from a public issue of 128.34 million new shares. ASM Automation is the 33rd company to be listed on Bursa Malaysia this year and the 24th on the ACE Market.
The Sun
2 days ago
- Business
- The Sun
MyAxis Group makes strong debut on LEAP Market, plans RM11.3m capex to expand processing capacity
KUALA LUMPUR: Meat processor and distributor MyAxis Group Bhd plans to invest RM11.3 million in capital expenditure (capex) to expand its processing capacities following its LEAP Market debut. MyAxis intends to double its poultry capacity to 708,000 kg from 336,000 kg and triple red meat handling to 1.87 million kg from 624,000 kg. 'The investment will include an increase in the group's annual cold storage capacity by more than 10 times to 566,000 kg to cater for the increasing meat processing volume,' it said in a statement. The investment will be funded by bank borrowings, and internally generated funds, as well proceeds from its initial public offering (IPO) . Executive chairman Datuk Tan Hwa Sing said the operations of the new halal-certified processing facility are expected to commence in the next six to nine months. 'Hopefully, by the second quarter of next year, 2026, it will be able to contribute to our revenues. We are just waiting for the funds (IPO proceeds) to come in. From there, we will be able to move faster and expedite,' he said in a press conference after the listing ceremony today. The new processing facility is located near the Malaysia-Thailand border at Bukit Kayu Hitam with a built-up area of 17,567.7 square feet. The location helps in enhancing container security and ensuring product quality for frozen meats imported from Thailand. MyAxis is currently focused on the domestic market with supplies sourced from Thailand and China in an even 50:50 ratio. MyAxis opened at 18 sen on Bursa Malaysia's LEAP Market, a six-sen premium over its IPO price of 12 sen. Tan said the opening price reflects the market's confidence in myAxis of its growth potential, business model, and strategic development in the meat processing sector. 'We are very satisfied with the opening price.' The stock closed at 23 sen, 11 sen or 91.7% above the IPO price. Tan said the group is eyeing a transfer to the ACE Market within two years following its debut. He said the group plans to remain on the LEAP Market for two years while fully utilising funds raised from its IPO. 'By the end of 2026, we can talk to Bursa about transferring to the ACE Market. In July or early next year, production will start, and once the funds are fully utilised, only then can Bursa consider it (the transfer),' he disclosed. MyAxis has a dividend policy of paying 20.0% of net profit to the shareholders. The policy will be effective from the financial year ending July 31, 2026. MyAxis' IPO on the LEAP Market entailed a public issue of 44.1 million new shares to sophisticated investors, at an issue price of 12 sen per share, representing 12.9% of the enlarged share capital of the company. The overall value of the IPO is worth RM5.3 million. Out of the total proceeds of RM5.3 million, RM600,000 will be utilised for the purchase of machinery for its new meat processing facility, RM200,000 for brand building to strengthen awareness through promotions and advertising efforts and activities. A further RM3 million will be allocated for repayment of borrowings; RM500,000 for working capital and the remaining RM1 million for defraying listing expenses. The market capitalisation of MyAxis upon listing will amount to RM40.1 million. Zico Evolve Capital Sdn Bhd serves as the adviser for MyAxis' IPO exercise.
The Sun
5 days ago
- Business
- The Sun
Transfer of listing to Main Market a step forward for Unique Fire
PETALING JAYA: Unique Fire Holdings Bhd, a fire protection systems and safety equipment provider, has transferred its listing to the Main Market of Bursa Malaysia Securities. The company's transition from Bursa Malaysia's ACE Market to the Main Market on Thursday comes less than three years after its initial public offering (IPO) in August 2022. Executive director Datuk Marcus Liew Kang Leong expressed his pride in the company's achievement in transferring to the Main Market of Bursa Malaysia. 'The transfer of listing of the company marks a step forward in our journey since 1997, where my father founded the company and established ourselves as one of the leading providers of fire protection systems and safety equipment in Malaysia. 'We are humbled to receive such an overwhelming response from everyone around us throughout this significant journey. This is one of the most rewarding accomplishments for Unique Fire,' he said in a statement. Liew said that since the company's IPO for its listing on the ACE Market in August 2022, Unique Fire has made strong strides in financial performance and operational growth. Revenue rose from RM75.74 million in financial year 2022 (FY22) to RM104.68 million in FY24, with net profit increasing from RM5.64 million to RM8.13 million. 'We've expanded our production capacity by more than 200%, increased storage space by nearly 68%, and integrated a warehouse management system. 'Geographically, we've opened two new offices in Johor Bahru and Penang to enhance the company's market presence in both the northern and southern regions,' he said. Liew said sustainability remains key, with rooftop solar photovolataic systems reducing utility costs, while workforce and product range continue to grow. 'These milestones reflect our readiness for the Bursa Malaysia's Main Market. This is a new chapter for us, and our journey is far from over. 'With years of industry experience, we will continue our ongoing efforts to expand our product range to cater to consumers' ever-changing needs. 'We are excited for what lies ahead, and Unique Fire is confident in our proven ability to consistently build a solid foundation that supports our continued growth,' Liew said. Unique Fire is primarily involved in the assembly, manufacture and distribution of active fire protection systems, equipment and accessories for built environments, such as fire suppression systems, fire extinguishers, fire hose reels, fire hoses, fire alarms and detection devices. Unique Fire also manufactures and distributes custom graphics for fire extinguishers.
