In the latest instalment of Kuala Lumpur News, EPB Group Berhad has launched its prospectus for an initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad, aiming to raise RM40.08 million to fuel expansion and innovation.
Meanwhile, SSF Home Group Berhad has reported a record-breaking financial performance for Q4 FY2024, with a 212.6 per cent increase in Profit After Tax (PAT) driven by strong seasonal sales.
Read more below:
EPB Group IPO Launches
EPB Group Berhad, a leading food processing and packaging machinery solutions provider, has announced the launch of its prospectus for an initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO aims to raise RM40.08 million to support factory expansion, repay bank borrowings, provide working capital, and cover listing expenses. Applications for the IPO opened today and will close on July 31, with a targeted listing date of August 23, 2024.
“We are deeply appreciative of the endorsement from Bursa Securities for our IPO on the ACE Market of Bursa Securities. This significant occasion marks a milestone for our Group’s journey, which will enhance our visibility and allow us to expand our business footprint. The IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions we currently provide to our customers,” said Yeoh Chee Min, Managing Director of EPB Group Berhad.
“Our success at EPB Group is built on strong relationships with our customers. By working closely with our customers, we are able to understand their challenges and provide them with customised solutions. Looking ahead, we are excited to explore new opportunities and expand our product offerings. Our commitment to innovation and excellence will ensure that we stay ahead of industry trends and continue to deliver valuable solutions for our clients,” said Liew Meng Hooi, Deputy Managing Director of EPB Group Berhad.
“We are delighted to assist EPB Group with its IPO. The Group’s comprehensive approach to delivering food processing and packaging machinery solutions, combined with a relentless drive for innovation and a strong focus on customer needs, sets a solid foundation for future growth. With a commendable track record since 1992 and a team rich in experience, EPB Group Berhad is well-equipped to navigate the dynamic landscape of the food industry,” said Lim Chia Wei, Managing Director of Malacca Securities Sdn. Bhd.
Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent, and WYNCORP Advisory Sdn. Bhd. is the Corporate Finance Adviser for the IPO.
SSF Home Reports Record Growth
SSF Home Group Berhad (“SSF” or the “Group”), a prominent retailer in furniture, home décor, and home living products, has announced its financial results for the fourth quarter of the financial year 2024 (“Q4 FY2024”).
The Group reported a revenue of RM50.6 million, up 34.1 per cent from RM37.7 million in the previous quarter, driven by strong sales during Chinese New Year and Hari Raya Aidilfitri.
The Group’s Profit After Tax (“PAT”) for Q4 FY2024 soared to RM6.2 million, a 212.6 per cent increase from RM2.0 million in the previous quarter. This growth is attributed to the significant rise in revenue.
For the full financial year ending April 30, 2024 (“FY2024”), SSF achieved a total revenue of RM158.9 million and a PAT of RM7.2 million.
“The positive performance of SSF Home Group this quarter, with a revenue surge to RM50.6 million and recording a PAT of RM6.2 million, underscores our resilience and the unwavering strength of our brand. Our continuous efforts in innovation and performance enhancements reflect our ability to leverage Malaysia’s economic resilience and consumer market growth effectively. Looking forward, bolstered by Malaysia’s anticipated economic growth of 4.0 per cent to 5.0 per cent in 2024, and a promising 7.5 per cent increase in retail trade, we are emboldened in our strategic direction,” said Lok Kok Khong, Executive Director of SSF Home Group Berhad.
“We are navigating through a period of dynamic growth and strategic expansion, capitalising on Malaysia’s robust economic environment and vibrant retail sector. With our ongoing efforts in enhancing consumer engagement and our proactive adaptation to market demands, SSF is well-positioned to harness the potential of the rising consumer power bolstered by the flexibility of EPF Account 3 withdrawals. I am optimistic that these strategies will significantly propel our growth and strengthen our market presence in the future,” he added.
As of today, SSF’s share price closed at RM0.365 with a market capitalisation of RM292.0 million.
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