Kuala Lumpur News

Kuala Lumpur, May 27: In a significant week for Malaysian businesses, several key players reported their financial results and strategic plans.
EPB Group Berhad received approval from Bursa Malaysia Securities Berhad for its listing on the ACE Market, aiming to raise capital through an IPO to support growth and innovation in food processing and packaging machinery.
DC Healthcare Holdings Berhad reported a challenging first quarter with decreased revenue due to lower redemption rates, but emphasized strong cash collections and future expansion plans in the aesthetic medical services sector.
Propel Global Berhad showcased a remarkable 166.1 per cent increase in revenue for Q3 FY2024, driven by robust performance in its oil and gas, technical services, and new ICT segments, despite posting a loss before tax due to higher administrative expenses.
The Group maintains a healthy cash flow, positioning it well for future projects.

EPB Group’s IPO Milestone

Kuala Lumpur, May 27: EPB Group Berhad (“EPB”), a provider of food processing and packaging machinery solutions, has received approval from Bursa Malaysia Securities Berhad for its ACE Market listing.
The IPO will offer 111,570,000 shares, representing approximately 29.99 per cent of the enlarged issued share capital of 372,000,002 ordinary shares.
EPB, operational since 1992, specializes in the design, customization, fabrication, integration, and automation of production lines, along with trading and manufacturing flexible packaging materials and cellulose casings for the food industry.
The IPO includes the public issue of 71,570,000 new ordinary shares (19.24 per cent) and the offer for sale of 40,000,000 ordinary shares (10.75 per cent).

Public Issue of 71,570,000 new ordinary shares:

19,570,000 shares (5.26 per cent) for the Malaysian public, with 50 per cent for Bumiputera public investors.
21,196,000 shares (5.70 per cent) for eligible directors, key senior management, employees, and business associates.
30,804,000 shares (8.28 per cent) for Bumiputera Investors approved by MITI via private placement.
Offer for Sale of 40,000,000 ordinary shares:
15,696,000 shares (4.22 per cent) for Bumiputera investors approved by MITI.
24,304,000 shares (6.53 per cent) for selected investors.
Yeoh Chee Min, Managing Director of EPB, said, “We are deeply appreciative of the endorsement from Bursa Securities for our IPO on the ACE Market. This significant occasion marks a milestone for our Group’s journey which will enhance our visibility and allow us to expand our footprint in Penang.”
He further elaborated, “The capital raised through this IPO will be instrumental in realizing our expansion plans, including the expansion of our existing factory. Our aim is to cement our Group’s status as a frontrunner in providing comprehensive food processing and packaging solutions.”
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter, and Placement Agent, while WYNCORP Advisory Sdn. Bhd. serves as the Corporate Finance Adviser for EPB Group Berhad.

DC Healthcare’s Q1 2024 Results

Kuala Lumpur, May 27: DC Healthcare Holdings Berhad (“DC Healthcare”), a provider of non-invasive and minimally invasive aesthetic medical services, announced its financial results for the first quarter ended 31 March 2024. The Group recorded a revenue of RM9.5 million, down from RM16.8 million in 1Q FY2023, due to lower redemption rates in aesthetic services.
Despite this, contract liabilities rose to RM9.6 million from RM3.7 million as of 31 December 2023, representing obligations to deliver future services. Cash sales collections remained healthy, indicating strong operational and financial strategies. Gross profit for the quarter was RM1.2 million, down from RM9.8 million in 1Q FY2023.
The Group faced a loss before tax of RM7.9 million, compared to a profit of RM3.2 million in 1Q FY2023, due to higher administrative expenses, including a RM1.8 million increase in marketing costs.
Dr. Chong Tze Sheng, Managing Director of DC Healthcare, stated, “Despite a lower redemption rate in our aesthetic services, our ability to maintain strong cash collections underscores the effectiveness of our customer relations and the intrinsic value of our services. We are taking strategic steps to adjust to market dynamics and enhance our service offerings. We also believe that effective management of the contract liabilities will ensure long-term financial health and customer satisfaction.”
Looking ahead, DC Healthcare plans to expand clinics in Southern and Northern Malaysia, attract skilled personnel, and update medical equipment with the latest technology to support growth and enhance service quality. The Group remains optimistic about its prospects, aiming for sustainable growth in a dynamic market.

Financial Health and Future Plans

Kuala Lumpur, May 27: Propel Global maintained a healthy cash position with cash and cash equivalents of RM20.3 million for the nine months ended 31 March 2024, positioning the Group well for internal funding of future projects.
Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global, commented, “Our Q3 FY2024 results reflect our commitment to strategic growth and adaptability in a dynamic market environment. The significant increase in revenue and our healthy cash flow position demonstrate our ability to capitalise on new opportunities and execute our projects effectively. As a new management team, we are focused on leveraging our strengths and pursuing sustainable growth initiatives to enhance value for our stakeholders.”
She added, “A healthy cash position ensures that we can meet our financial obligations on a timely basis, seize opportunities, and invest in people and technologies. With our healthy cash flow, we are capable of continuing to drive further growth for Propel Global.”
Looking ahead, Propel Global will focus on completing existing projects while consistently bidding for new ones to drive sustained growth.
The new management team is committed to strategic realignment and operational efficiency, setting a clear distinction from previous management approaches.