Latest news with #ACEMarketofBursaMalaysia
New Straits Times
07-07-2025
- Business
- New Straits Times
iCents IPO oversubscribed by 2.3 times ahead of ACE Market listing
KUALA LUMPUR: iCents Group Holdings Bhd's initial public offering (IPO) has been oversubscribed by 2.30 times ahead of its listing on the ACE Market of Bursa Malaysia on July 17. The IPO by the cleanroom and facility services provider involves a public issue of 112.5 million new ordinary shares at 24 sen per share. This represents 22.5 per cent of the company's enlarged issued share capital, with gross proceeds of RM27 million expected to be raised. The company offered 30 million existing shares, or six per cent of the enlarged issued share capital, via private placement to selected investors. In total, the Malaysian public applied for 82.39 million shares valued at approximately RM19.77 million under the public issue portion, translating to an overall oversubscription rate of 2.30 times. The public category received 881 applications for 72.65 million shares, oversubscribing the allocation by 4.81 times. Separately, the Bumiputera category saw 385 applications for 9.75 million shares, reflecting an undersubscription rate of 0.22 times. All 10 million shares allocated to eligible directors, employees, and persons who have contributed to the group were fully subscribed. The private placements comprised 15 million issue shares and 30 million offer shares to selected investors, as well as 62.5 million issue shares to Bumiputera investors. These placements, approved by the Investment, Trade and Industry Ministry, were fully placed out. Upon listing, iCents Group will have a market capitalisation of RM120 million, based on the enlarged issued share capital of 500 million shares and the IPO price. Managing director Vincent Ong said the IPO proceeds will support expansion initiatives and boost the company's capacity to secure more projects in highly technical industries. Executive director Foo Siang Leng added that iCents is well-positioned to capitalise on demand from fast-growing sectors requiring cleanroom and facility solutions. "Cleanroom solutions and facility services are vital to fast-growing sectors such as data centres, semiconductors, electronics and pharmaceuticals. "As these industries expand, we foresee sustained demand that underscores our business relevance moving forward," he said. Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO.
Malaysian Reserve
03-07-2025
- Business
- Malaysian Reserve
A1 AK Koh IPO draws tepid response from public investors
A1 AK Koh Group Bhd's initial public offering (IPO) on the ACE Market of Bursa Malaysia received a modest response from public investors, with some segments of the exercise seeing undersubscription. The company reported that total applications from public investors amounted to 46.80 million shares valued at RM11.7 million, slightly exceeding the 42 million shares offered. This reflects a subscription rate of just 1.11 times. However, the tranche earmarked for Bumiputera investors under the public portion fell short, attracting only 20% of the intended take-up. The unsubscribed shares were subsequently reallocated to the non-Bumiputera portion, which was oversubscribed by about two times. Shares reserved for eligible persons were fully taken up. Meanwhile, the private placement component — comprising both new and existing shares allocated to approved Bumiputera investors, institutions, and selected investors — was fully subscribed following a clawback and reallocation process. Allotment notices are scheduled to be posted to successful applicants on July 10, with the company's listing set for July 11. A1 AK Koh, known primarily for its premixed soup spices, will debut on the market with an issue price of 25 sen per share. The IPO is expected to raise RM27.3 million for the company which is based in Johor and established in 1986. A1 AK Koh manufactures and markets more than 340 processed food and beverage products, including snacks, noodles, seasonings, canned seafood, and ready-to-drink beverages. Post-listing, the company is expected to have a market capitalisation of RM210 million, translating to a valuation of approximately 18 times its latest earnings. AmInvestment Bank is acting as the principal adviser, sponsor, underwriter, and placement agent for the IPO. — TMR
The Star
25-06-2025
- Business
- The Star
ES Sunlogy's RE segment signals positive trajectory, says MD
KUALA LUMPUR: ES Sunlogy Bhd posted a net profit of RM2.48mil on revenue of RM75.61mil for its third financial quarter ended April 30, 2025, marking its full quarter post-initial public offering on the ACE Market of Bursa Malaysia. In a statement, ES Sunlogy said its revenue in the quarter under review was down 24.4% compared to the preceding quarter, attributed to lower contribution from the M&E segment due to the timing of project milestones and completion cycles. "This resulted in a quarter-on-quarter decrease in profit after tax. The moderation was expected and is part of the company's typical project execution flow," it said. The mechanical and electrical engineering services segment remained its core revenue driver, contributing RM67.6mil or 89.4% to the company's total revenue. The trading and sale of renewable energy segments contributed RM6mil and RM2mil respectively. "While the quarter saw a temporary moderation in revenue, it was anticipated as part of our project lifecycle. "More importantly, our strong unbilled order book and expanding footprint in the renewable energy space signal a promising trajectory ahead," said managing director Khor Chuan Meng. Over the three financial quarters, the company recorded a net profit of RM10.03mil on revenue of RM239.18mil. As at April 30, 2025, ES Sunlogy recorded total equity of RM107.1mil and an unbilled order book of RM214.1mil, providing earnings visibility in FY25 and FY26.
New Straits Times
25-06-2025
- Business
- New Straits Times
ES Sunlogy posts RM2.47mil net profit, RM75.6mil revenue in Q3
KUALA LUMPUR: ES Sunlogy Bhd posted a net profit of RM2.47 million on a revenue of RM75.6 million for the third quarter ended April 30, 2025. The mechanical and electrical (M&E) segment remained the company's core revenue driver, contributing RM67.6 million or 89.4 per cent to the total revenue. Both trading and sale of renewable energy segments contributed RM6 million and RM2 million respectively. For the first nine months of the financial year 2025 (9M FY25), ES Sunlogy's net profit stood at RM10 million on a revenue of RM239 million. In a statement, the company said its total equity stood at RM107 million, with an unbilled order book valued at RM214.1 million as of April 30, 2025. Listed on the ACE Market of Bursa Malaysia in February, the company said post-initial public offering (IPO) proceeds had been deployed prudently in line with the intended utilisation and expansion plans. ES Sunlogy managing director Khor Chuan Meng said the quarter experienced a temporary moderation in revenue, which was anticipated as part of the company's project lifecycle. "More importantly, our strong unbilled order book and expanding footprint in the renewable energy space signal a promising trajectory ahead. "We remain committed to delivering sustainable value to our stakeholders, backed by operational excellence and strategic growth in high-potential sectors," he added. The company remains optimistic about its prospects in both infrastructure and clean energy sectors. Backed by Class A and G7 contractor accreditations, ES Sunlogy said it is poised to secure and deliver large-scale M&E projects across the country. It is actively advancing its renewable energy initiatives, including its ownership in the Junjong large scale solar photovoltaic plant and joint venture in the Selarong plant.
Focus Malaysia
23-06-2025
- Business
- Focus Malaysia
Rising demand for sustainable biomass products to drive Elridge Energy's growth prospect in FY2025
BIOENERGY-BASED Elridge Energy Holdings Bhd has begun its 1Q FY2025 ended March 31, 2025 with a net profit of RM13.58 mil on the back of RM109.67 mil in revenue that were mainly contributed by customers based in Japan, Indonesia and Malaysia. As the group was only listed on the ACE Market of Bursa Malaysia in August 2024, no year-on-year (yoy) comparative figures from the previous financial year is available. Palm kernel shells (PKS) remain the cornerstone of the group's operations by contributing RM95.81 mil or 87.36% of total revenue while the remaining RM13.87 mil was derived from the trading and manufacturing of wood pellets. 'Our 1Q FY2025 performance reflects a strong and growing demand for sustainable biomass fuel products in international markets,' commented Elridge Energy's executive director and CEO Oliver Yeo. 'We are pleased to maintain our momentum post-listing and deliver healthy earnings growth in line with our strategic direction.' According to Coherent Market Insights, the PKS industry in Asia-Pacific is expected to grow at a CAGR (compound annual growth rate) of 8.9% from US$308.6 mil (RM1.4 bil) in 2024 to US$366.1 mil (RM1.7 bil) by 2026. The wood pellet market in the region is also forecast to expand at a CAGR of 8.6% to reach USD$12.5 bil (RM57.1 bil) in 2026 from US$10.6 bil (RM48.4 bil) in 2024. 'To support this growing market, we're executing our expansion plan with the development of new manufacturing sites in Pasir Gudang (Johor), Kuantan (Pahang) and Lahad Datu (Sabah),' revealed Yeo. 'These facilities will each house two PKS production lines with a combined annual output of 240,000 metric tonnes per site. The capacity expansion will enhance our ability to secure long-term export contracts and reinforce our position in the regional biomass supply chain.' To-date, a total of RM68.14 mil from the group's initial public offering (IPO) proceeds has been allocated to these projects. The investments form part of Elridge Energy's long-term strategy to capitalise on rising global demand for biomass fuels and to contribute to decarbonisation efforts in energy and industrial sectors. 'With a focused expansion strategy, a solid financial footing and rising demand from international markets, the group remains well-positioned to deliver sustained value to our shareholders and support the global shift towards renewable energy,' added Yeo. At 4.56pm, Elridge Energy was unchanged at 59.5 sen with 2.38 million shares traded, thus valuing the company at RM1.19 bil. – May 27, 2025
