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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.
New Straits Times
2 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.
BusinessToday
31-05-2025
- Business
- BusinessToday
Capital A Records Revenue Of RM5.3 Billion For 1QFY25, PAT Stood At RM194 Million
Capital A recorded revenue of RM5.3 billion for the current quarter (1QFY25) an increase of 1.4% over the corresponding period in 2024. EBITDA for the current period grew 7.2% to RM1.1 billion. The Group recorded a Profit Before Tax of RM 231.4 million as compared to a loss before taxation of RM 249.8 million in 1Q24. Profit After Tax stood at RM194 million—inclusive of RM143 million in one-off expenses relating to non-operating aircraft—to arrive at a 4% PAT margin. Highlights of the Aviation Group: Aviation revenue in 1Q2025 totaled RM4.9 billion, relatively flat Year-on-Year ('YoY') and marginally higher Quarter-on-Quarter (' QoQ'). EBITDA came in at RM980 million, with an EBITDA margin higher YoY at 20% due to an 11% drop in fuel expenses. Depreciation and interest expense costs related to non-operating aircraft amounted to RM143 million. Excluding these, net operating profit ('NOP') stood at RM241 million. Including all items, PAT was RM126 million. Operating cash flow was positive due to overall improvement in the business. Cash flow from investing activities included the purchase of property, plant and equipment and net changes in deposits with licensed banks with a maturity period of more than 3 months and deposits pledged as securities and restricted cash. Cash flow from financing activities for the current year are proceeds from borrowings and net of payment of debt and aircraft lease. Driven by the growth described above, the Continuing Operations reported revenue of RM778.3 million for 1Q25, a 15% increase from the corresponding period last year. Segmentally, the logistics sector contributed 33% of the revenue, MRO services 27% and the online travel platform 16%. The balance 24% was contributed by our brand, inflight and other businesses. The Continuing Operations recorded a positive EBITDA of RM101.9 million in 1Q25, an increase of 24%. Net profit after tax was at RM59.1 million, an increase of RM11.0 million. This improvement included unrealised foreign exchange gains of RM20.6 million, higher brand licence income and improved operating performance across the various segments. Related
New Straits Times
25-05-2025
- New Straits Times
Businessman loses RM5.3mil in investment scam
KUALA LUMPUR: A 67-year-old businessman has lost RM5.3 million after falling victim to a fraudulent, non-existent investment scheme. Selangor police chief Datuk Hussein Omar Khan said preliminary investigations revealed that the scam involved an advertisement on the Google app promoting a fake investment scheme known as Primus Pacific Partners. He said the victim clicked on the advertisement and was redirected to WhatsApp, where contact was established via phone call with a woman who introduced herself as 'Ms Ng', claiming to be an investment coach. "The victim was given an explanation about the investment and was added to a WhatsApp group. "He followed the investment scheme for about a week. "The suspect, 'Ms Ng', then instructed the victim to register as a new investor on a platform named he said in a statement today. Hussein said that at the outset, the victim received an initial return of RM24,308.48, which increased his confidence in the scheme. The victim then made 13 fund transfers totalling RM5.3 million to three different bank accounts. Hussein said the victim was promised returns based on market rates, but when he attempted to withdraw his investment profits, he was told to pay various tax charges. Police have opened an investigation paper under Section 420 of the Penal Code, which carries a maximum penalty of 10 years' jail, whipping, and a fine upon conviction. Police have urged the public to remain vigilant against investment schemes on social media, especially those offering unrealistic returns or involving financial platforms not approved by Bank Negara Malaysia or the Securities Commission Malaysia. Those who encounter suspicious or fraudulent calls may contact the National Scam Response Centre at 997 for verification, advice, or to lodge a report.
Borneo Post
16-05-2025
- Politics
- Borneo Post
Suhaimi accuses Nizam of hypocrisy, blames him for Sabah's development failures
Suhaimi KOTA KINABALU (May 16): Libaran member of parliament Datuk Suhaimi Nasir took Assistant Minister to the Chief Minister of Sabah, Datuk Nizam Titingan, to task and accused him of hypocrisy and political betrayal in the ongoing debate over Sabah's development issues. Suhaimi, a senior Umno Sabah leader, said Nizam's recent public remarks on the state's challenges were a 'sudden burst of spirit' from someone deeply embedded in the system that had contributed to those problems. Nizam 'YB Nizam speaks as though he is a 'sin cleanser,' forgetting that he has been part of the Sabah government for years. The footprints of his failures are still clearly visible in the history of the state's administration,' Suhaimi said in a statement today. Suhaimi questioned Nizam's credibility in criticising Sabah's governance, pointing out that from 1999 to 2023, when the state reportedly earned RM5.3 billion in timber revenue, Nizam served as Assistant Finance Minister and now holds a senior role in the current GRS-led government. 'Datuk Nizam, you are part of the problem, not the solution. Who failed to manage the timber revenue, water, roads, and electricity projects? Do not blame the party, blame the ministers who were alive and responsible, including yourself,' Suhaimi asserted. The Libaran MP further reminded Nizam that several senior GRS leaders today including Chief Minister Datuk Seri Hajiji Noor and Datuk Seri Masidi Manjun, were also part of the former state cabinet. 'If Nizam wants to point fingers over past failures, he should start with those who once sat beside him in the cabinet,' he added. Suhaimi did not hold back in criticising Nizam's departure from Umno, which had once backed him as a candidate, calling it an act of betrayal. 'Without Umno, you might still be waiting in line at the back, never having tasted power. Now, after jumping to GRS for the sake of power and position, you want to act like a people's hero? That's not the spirit of struggle, it is betrayal,' he opined. Highlighting that 90% of Sabah Umno's current leadership had no ties to previous state administrations, Suhaimi said the party is focused on reform, not defending past mistakes. 'We are not burdened by the sins of past administrations. We come forward with renewed resolve and a commitment to correct the mistakes left by people like Nizam,' said Suhaimi. He ended his statement with a clear message: Sabah needs effective leadership, not political theatrics. 'Do not try to cover your failures by throwing mud at others. The people do not need the croaks of frogs from the old political pond. They need sincere and honest voices of development,' he said.
