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New Straits Times
3 days ago
- Business
- New Straits Times
Newly listed MyAxis eyes capacity growth
KUALA LUMPUR: Meat processor and distributor MyAxis Group Bhd made its debut on the LEAP Market of Bursa Malaysia today at 18 sen, a six-sen premium over its initial public offering (IPO) price of 12 sen. In a statement, MyAxis said the company has set its sights on increasing its meat processing capacity to drive growth after its listing, having raised RM5.3 million from the IPO. Through its wholly owned subsidiary, KK Fresh Frozen Sdn Bhd (KK Fresh), MyAxis has been in the frozen meat distribution business since 2015. "The listing exercise marks a pivotal moment for MyAxis as we look to strengthen the KK Fresh brand. We are excited about our new meat processing facility that will take our business to the next level. "The upstream shift complements our existing distribution business, enabling us to expand the range of products that we will be able to offer to our customers," said MyAxis executive chairman Datuk Tan Hwa Sing. With the enlarged processing facility, Tan said the company will be able to offer value-added services to its existing customers and to open up new markets. Meanwhile, he said MyAxis intends to establish its own Halal brand of processed meat products to further expand market reach and, most importantly, contribute to strengthening Malaysia's food security. "The IPO not only helps in raising our corporate profile but also accelerates our growth trajectory as we tap into the capital market," he said. With the expanded processing and storage capacities, Tan said the company also targets significantly growing its customer base, particularly among food and beverages (F&B) providers, hotel chains and processed food manufacturers. With a built-up area of 17,567.7 square feet, he said the new processing facility, located strategically near the Malaysia-Thailand border at Bukit Kayu Hitam, is expected to be operational by 2026. "The strategic location helps in enhancing container security and ensuring product quality for frozen meats imported from Thailand. "In addition, the new plant is designed to comply with key food safety and quality standards, including Halal, MESTI, GMP, HACCP, and VHM, ensuring full compliance with regulatory and industry best practices," he added. Following the company's listing on the LEAP Market today, MyAxis has outlined a plan to transfer to the ACE Market within two years. MyAxis aims to raise RM5.29 million through a private placement of 44.1 million new shares at 12 sen apiece, implying a market capitalisation of RM40.9 million upon listing. The proceeds will be used to repay bank borrowings (RM3 million), purchase new machinery, support working capital, enhance branding and marketing, and defray listing expenses.
Business Insider
25-06-2025
- Business
- Business Insider
Ghana to ban plastic straw imports as government pushes for eco-friendly alternatives
The Minister of Environment, Science, Technology and Innovation (MESTI), Dr Ibrahim Murtala Muhammed, has announced the government's plan to restrict the importation of single-use plastic items, including plastic straws, as part of a broader strategy to transition Ghana toward a circular and more environmentally sustainable economy. Ghana plans to restrict the importation of single-use plastic items, including plastic straws, to promote ecological sustainability. Ghana produces over 1.1 million tonnes of plastic waste annually, with only 9% being recycled. The initiative promotes local and sustainable alternatives, such as bamboo straws and cassava-based packaging. Speaking at the Environmental Sustainability Summit in Accra on Tuesday, 24 June 2025, Dr Muhammed emphasised the urgent need for the country to shift away from harmful plastic products and embrace sustainable, locally produced alternatives. 'We aim to restrict products such as plastic straws while promoting local alternatives. These are some of the measures we are considering,' he stated. Promoting Local Innovation and Sustainable Products DON'T MISS THIS: Ghana's economy records 5.3% growth in Q1 2025, surpassing expectations Dr Muhammed highlighted the efforts of Ghanaian entrepreneurs who are already stepping up to provide eco-friendly solutions. Among the alternatives being championed are bamboo straws, cassava-based packaging materials, and refillable containers. 'Entrepreneurs are already producing sustainable alternatives like bamboo straws, cassava-based packaging, and refillable containers,' he added, noting that government support for such ventures will be integral to reducing environmental degradation. Plastic Waste Crisis in Ghana Ghana's plastic waste problem has reached alarming levels. According to the ministry, the country now generates over 1.1 million tonnes of plastic waste each year, a significant increase from 40,000 tonnes a few decades ago. Despite this massive output, only 9% of plastic waste is currently recycled, while nearly half remains uncollected. The rest often ends up clogging drainage systems or polluting rivers and oceans, posing severe risks to both the environment and public health. A Shift Toward a Greener Future The new policy direction is aligned with global sustainability goals and comes at a time when many countries are phasing out single-use plastics in favour of reusable and biodegradable alternatives. By encouraging the production and adoption of sustainable products, the government aims to not only reduce plastic pollution but also empower local industries and entrepreneurs who are pioneering eco-innovations. As Ghana moves towards implementing these policies, the Ministry of Environment is expected to release detailed guidelines and timelines for the enforcement of import restrictions on plastic straws and similar items.
Borneo Post
05-06-2025
- Business
- Borneo Post
Dr Rundi: Livestock sector transformation key to building S'wak's sustainable agro-economy, boost SSL
(From second left) Dr Rundi, Abdul Aziz and other officials inspect the finished products during their stop at the Sara-Bif corned beef factory. – Photo by Chimon Upon KUCHING (June 5): Sarawak is setting its sights on transforming its livestock sector into a fully integrated halal agro-industry with ambitions that extend well beyond achieving self-sufficiency, said Dato Sri Dr Stephen Rundi Utom. The Minister of Food Industry, Commodity and Regional Development said the state's ongoing development of a complete livestock supply chain from upstream production to downstream processing is key to building a sustainable agro-economy. 'This is part of our ability to create a complete supply chain. We've tried many schemes and our target is to produce 60,000 head of cattle by 2030, which will bring our self-sufficiency level (SSL) for beef and related meat products up to 25 per cent. 'Sarawak's current SSL stands at around 16 per cent, up from 13 per cent previously,' he told reporters during a working visit to the PPES Ternak Sdn Bhd Halal Abattoir Complex in Siburan, here today. He said the Halal Abattoir Complex has already started producing cornmeal and other downstream products, while efforts to diversify Sarawak's livestock offerings are taking shape in regions such as Lawas, where mozzarella cheese production is expected to begin by the end of the year. Plans are also in motion to expand production of halal canned corned beef using Sarawak black pepper, targeting both domestic and export markets, he added. Dr Rundi further stressed the importance for agencies under his ministry to continue working together to ensure the agricultural sector becomes sustainable, by building market access into every production plan. 'The reason we're facing problems in agriculture is because we've never had a complete supply chain. People are willing to plant or raise livestock, but the market is often uncertain and that must change,' he said. The visit to the PPES Ternak Sdn Bhd Halal Abattoir Complex, a wholly owned subsidiary of Sarawak Economic Development Corporation (SEDC), reflects the government's continued commitment to strengthening the state's long-term food security. It also aimed to provide Dr Rundi with a firsthand understanding of PPES Ternak's integrated supply chain operations – from feedlot farming to meat processing – and assess its strategic contributions to Sarawak's overall food ecosystem. A statement issued by Dr Rundi's ministry in conjunction with the visit said the programme featured a detailed tour of PPES Ternak's core facilities, including the Siburan Halal Abattoir Complex, corned beef processing factory, and the feedlot centre. 'All facilities are certified under Halal, MESTI, and HACCP standards, reflecting the company's dedication to producing high-quality, hygienic, and traceable meat products for local and regional markets. 'This engagement also underscored the importance of increasing Sarawak's cattle SSL to reduce reliance on imported meat,' said the ministry, adding that it recognises the vital role of PPES Ternak in supporting the state's Post Covid-19 Development Strategy 2030 and helping position Sarawak as a regional food hub. 'The visit reaffirms the state government's commitment to working closely with industry stakeholders to ensure that every household in Sarawak has access to safe, affordable, and sustainably sourced protein which is a cornerstone of building a resilient and food-secure future for the state,' it added. Accompanying Dr Rundi during the visit were his deputy minister Datuk Martin Ben and SEDC chairman Tan Sri Datuk Amar Abdul Aziz Husain. agro-industry Dr Stephen Rundi Utom livestock self sufficiency
