Latest news with #ASMAutomation
New Straits Times
6 days ago
- Business
- New Straits Times
Rising automation in F&B sector boosts ASM's outlook
KUALA LUMPUR: ASM Automation Group Bhd is poised to capitalise on growing demand in the automation machinery solutions industry, driven by rising adoption in the food and beverage (F&B) sector and broader industrial needs. 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.
New Straits Times
02-07-2025
- 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 Star
29-05-2025
- Business
- The Star
ASM Automation aims to raise RM22mil from listing on ACE Market
From left: Kamalam Kurup Krishnan, executive director, ASM Automation Group; Tengku Faizwa Tengku Razif, independent non-executive chairperson; Leong Weng Khin executive director; Chan Kok Heng, managing director; Datuk Bill Tan, managing director, M&A Equity Holdings Bhd; Gary Ting, head of corporate finance, M&A Securities; Danny Wong, deputy head of corporate finance; and Kelvin Khoo, managing director, Eco Asia Capital Advisory Sdn Bhd KUALA LUMPUR: Automation machinery solutions specialist ASM Automation Group Bhd aims to raise RM21.82 million through its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia on July 2. In a statement yesterday, ASM Automation said the IPO involves the public issue of 128.34 million new shares, representing 24% of its enlarged share capital of 534.77 million shares. It said there will be an offer for sale of 53.48 million existing shares, equivalent to 10% of the enlarged share capital. IPO shares will be issued at an IPO price of RM0.17 per share. ASM Automation said RM11.40mil will be utilised for the construction of a new factory, RM2.30mil for the purchase of machinery, and the acquisition of equipment and components for demonstration machinery to support operational growth and customer engagement, RM2mil to enhance research and development capabilities, RM1.92mil for working capital to support day-to-day operations and RM4.2mil for listing expenses. The company's managing director Chan Kok Heng said the IPO proceeds will fuel the company's next phase of expansion. He said the IPO would not only provide the funding required for its expansion plans but also enhance its visibility and credibility as a publicly listed automation machinery solutions provider. M&A Securities is the IPO's principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd is the financial adviser. — Bernama
New Straits Times
29-05-2025
- Business
- New Straits Times
ASM Automation targets RM21.82 million proceed from Bursa listing
KUALA LUMPUR: Automation machinery solutions specialist ASM Automation Group Bhd aims to raise gross proceeds of RM21.82 million from its initial public offering (IPO), en route to a listing on the ACE Market of Bursa Malaysia. Priced at 17 sen per share, the IPO will offer up to 34 per cent stake in the company. The IPO involves a public issue of 128.34 million new shares, representing 24 per cent of ASM Automation's enlarged issued share capital of 534.77 million shares. It also includes an offer for sale of 53.48 million existing shares, equivalent to 10 per cent of the enlarged issued share capital. Application will close on June 19, and the company is scheduled for listing on July 2. ASM Automation plans to allocate RM11.40 million or over half of the IPO proceeds for the acquisition of 70,000-square-feet land and construction of a new factory to increase production and assembly capacity. A total of RM2.3 million or 10.5 per cent is earmarked for purchase of machinery, equipment and components used in assembling demonstration machineries to support operational growth and customer engagement. The company also will use RM2 million or 9.2 per cent of the proceeds for design and development activities to enhance research and development capabilities, while RM1.92 million or 8.8 per cent is for working capital to support day-to-day operations. The remaining RM4.2 million or 19.3 per cent of the proceeds will be used to pay the listing expenses. ASM Automation managing director Chan Kok Heng said it is now well-positioned to deepen its technical capabilities and expand its market reach, having evolved from a local custom automation provider into a trusted name in the automation machinery solutions industry. "The IPO will not only provide the funding required for our expansion plans but also enhance our visibility and credibility as a public-listed automation machinery solutions provider. "With these resources, we aim to scale our innovation, manufacturing capacity and export footprint to deliver even greater value to our customers," he said in a statement.
