Kuala Lumpur, May 30: DC Healthcare Holdings Berhad, a specialist in aesthetic medical services, has announced an underwriting agreement with M&A Securities Sdn. Bhd. for its upcoming initial public offering on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO involves the public issue of 199.26 million shares, representing 20 percent of the Group’s enlarged share capital, and an offer for the sale of 99.63 million shares, representing 10 percent of the enlarged share capital, to selected investors.
The shares will be allocated among the Malaysian public, eligible directors and employees, and private placement to selected investors.
Dr. Chong Tze Sheng, Managing Director of DC Healthcare, expressed excitement about the IPO, highlighting the Group’s journey from providing general medical services to focusing on aesthetic services.
DC Healthcare currently operates 12 aesthetic medical clinics and plans to open more locations using the proceeds from the IPO.
Datuk Bill Tan, Managing Director of Corporate Finance at M&A Securities Sdn Bhd, emphasized DC Healthcare’s strength in non-invasive and minimally invasive aesthetic procedures, highlighting the growing demand for such services in line with Malaysians’ increasing affluence.
In terms of financial performance, DC Healthcare reported revenue of RM18.45 million for the 5-month financial period ended 31 May 2022 (“FPE2022”), compared to RM8.48 million in the corresponding period of the previous year (FPE2021).
The Group achieved net profit margins of 22.08 percent and 16.47 percent for FPE2022 and FPE2021, respectively.
Aesthetic services contributed 92.11 percent to total revenue in FPE2022 and 87.46 percent in FPE2021.
Additionally, for the financial year ended 31 December 2021 (“FYE2021”), DC Healthcare recorded revenue of RM25.48 million, while FYE2020 and FYE2019 saw revenues of RM14.45 million and RM12.21 million, respectively.
Aesthetic services contributed 89.80 percent, 87.50 percent, and 84.88 percent to total revenue in FYE2019, FYE2020, and FYE2021, respectively.
The financial updates and collaborations reported by Minetech, Presto, and DC Healthcare highlight the ongoing dynamics and growth opportunities within their respective industries.
As businesses continue to adapt and expand their offerings, customers and investors can anticipate exciting developments and enhanced experiences in the near future.
Minetech Resources Berhad, a civil engineering specialist, and bituminous products manufacturer has announced its financial results for the fourth quarter that ended 31 March 2023.
The Company reported a significant 46.1 per cent increase in revenue, reaching RM36.9 million compared to RM25.2 million in the same period last year.
However, Minetech registered a loss before tax of RM7.2 million for 4Q FY2023, showing improvement from the LBT of RM12.1 million in 4Q FY2022.
For the entire fiscal year 2023, Minetech achieved a noteworthy 45.4 per cent growth in revenue, reaching RM124.2 million compared to RM85.4 million in the previous fiscal year.
The Company also managed to halve its LBT to RM10.2 million from RM24.3 million.
Breaking down the performance by division, Minetech’s civil engineering division recorded revenue of RM23.4 million for the fourth quarter, with an operating profit of RM2.3 million.
This marks an increase from the revenue of RM14.7 million and the operating profit of RM0.9 million in 4Q FY2022.
The bituminous products division experienced a revenue increase of RM8.6 million, but an operating loss of RM0.2 million compared to revenue of RM5.1 million and an operating profit of RM0.5 million in the previous year.
Meanwhile, the services division’s revenue decreased to RM0.4 million, with an operating loss of RM0.6 million, reflecting a decline from the revenue of RM1.7 million and an operating loss of RM4.8 million in 4Q FY2022.
Minetech’s adjusted EBITDA turned positive for the fiscal year 2023, reaching RM0.75 million, compared to the adjusted negative EBITDA of RM11.2 million in the previous year.
Matt Chin, Executive Director of Minetech, highlighted the significant contributions of the civil engineering and bituminous products businesses to the Company’s revenue growth.
The increase in the civil engineering division’s revenue was driven by a higher contribution from the Selinsing gold mine, which amounted to RM14.9 million compared to RM8.9 million in the previous year. The bituminous products division saw increased revenue due to higher sales of coating enamel, but an operating loss was incurred due to one-off repair and maintenance costs.
Despite a decrease in revenue, the services division managed to reduce its operating loss, indicating an improvement in performance.
Vincent Teoh, Founder, and Chief Executive Officer of VSING.
Presto, a Loyalty Ecommerce Redemption and solutions provider and part of PUC Berhad’s e-commerce app aggregator and payments platform, has announced a collaboration with VSING, a music-driven social entertainment platform.
The partnership aims to enhance the value of loyalty points for VSING members.
VSING, which operates in Malaysia, Singapore, and Hong Kong with a user base exceeding 80,000 individuals, will now have the opportunity to use their V POINT as digital currency within the Presto ecosystem.
The collaboration will allow members to combine their V POINT with other digital payment methods to make payments. Commencing in mid-June, the Presto-VSING collaboration will offer exclusive products and services from renowned partner brands to independent brands and services, expanding the options available for VSING members.
Cheong Chia Chou, Group Managing Director, and Chief Executive Officer of Presto, expressed the company’s vision to empower customer loyalty rewards with smarter incentives and provide business partners with an effective loyalty redemption program.
He welcomed VSING members to the Presto platform, where they can choose from over 20,000 products and services for redemption.
The expanded selection covers a wide range of categories, from home and living to electronic gadgets and indulgent services.
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