Hurdles in IC design
IT is challenging to play in the chip designer space. Consider the case of Oppstar Bhd .
It just posted a net loss of RM12mil in its financial year ended March 31, 2025 (FY25), higher than the amount estimated by analysts covering the stock.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
3 days ago
- The Star
Hurdles in IC design
IT is challenging to play in the chip designer space. Consider the case of Oppstar Bhd . It just posted a net loss of RM12mil in its financial year ended March 31, 2025 (FY25), higher than the amount estimated by analysts covering the stock.
The Star
14-05-2025
- The Star
Signature Alliance targets RM161mil from IPO
From left: Affin Hwang IB head of equity capital markets Arvin Chia, Signature Alliance Group shareholder Melvin Ng, executive director Mario Foo, group CEO Darren Chang, shareholder Datuk Seri Chiau Beng Teik, shareholder Chiau Haw Choon, M&A Securities managing director Datuk Bill Tan, head of corporate finance Gary Ting, Chin Hin Group group chief financial officer Michael Lim and Signature Alliance Group director Lau Kock Sang. PETALING JAYA: Interior fit-out solutions provider Signature Alliance Group Bhd (SAG) aims to raise RM161.2mil in proceeds via an initial public offering (IPO) on the ACE Market of Bursa Malaysia on June 5, 2025. The IPO entails the issuance of 260 million new ordinary shares at an issue price of 62 sen each, valuing the company at an estimated market capitalisation of RM620mil upon listing. Executive director and group chief executive officer (CEO) Darren Chang said over half of the proceeds would be allocated to developing a new corporate headquarters and production facility in Selangor. He said this move was necessary considering the existing offices and facilities have been fully utilised. 'One of our key goals is to centralise our office operations, as we currently do not have enough space. 'The funds raised will allow us to bring everyone together under one roof, expand our production facilities and purchase new machinery to increase our production,' he said at a press conference after the launch of SAG's prospectus here yesterday. The company has earmarked RM88mil, or 54.6% of the total proceeds, for the new corporate and production facility. An additional RM12mil would be used to establish and expand brand offices in Penang and Johor. According to Chang, the regional expansion was for capturing business opportunities for interior fitting-out services in the two states as well as strengthening the company's market presence in the northern and southern regions of Peninsular Malaysia. SAG would also allocate RM30.1mil for working capital requirements and RM4mil for the acquisition of new machinery and equipment. The remaining proceeds would be used for the repayment of bank borrowings at RM20mil and to cover listing-related expenses at RM7.1mil. Addressing concerns about the subdued performance of recent ACE Market listings, Chang expressed confidence in SAG's fundamentals and business outlook. 'For the past four financial years ended Dec 31, 2021 (FY21) to FY24 and up to April 16, 2025, SAG has completed 624 interior fitting-out projects with a combined value of RM391.6mil. 'As at April 16, 2025, the company had 69 ongoing projects with a total contract value of RM902.4mil and an unbilled contract value of RM388.6mil or 43.1% of the total value,' he said. In FY24, SAG posted a net profit of RM40.56mil, an increase from RM10.42mil recorded in FY23. Revenue also more than doubled in FY24, rising to RM386.02mil from RM173.38mil in the previous year. On external market pressures, particularly tariffs imposed by the United States, Chang noted minimal impact on operations. He attributed this to SAG's reliance on locally sourced raw materials instead of imported. 'And unlike other construction companies, we use different types of materials for our interior fitting-out services,' he added. SAG specialises in interior fitting-out services and building construction, with Signature International Bhd holding a 50.7% stake and indirectly controlled by construction outfit Chin Hin Group Bhd . Following the IPO, Signature International's stake would be diluted to 37.5%, while the combined shareholdings of Chang, northern region CEO Foo Khai Shin, and central region CEO Ng Mun Moh would be reduced to 36.5% from 49.3%. Applications for the shares are open and will close on May 21, 2025 at 5pm.
The Star
07-05-2025
- The Star
Sunsuria launches foundation focused on education, community and environmental sustainability
Education Minister Fadhlina Sidek (centre) together with Ter (sixth from right) and other guests, watering plants at the groundbreaking ceremony for SJK (C) Sunsuria and the Bandar Sunsuria education hub. SHAH ALAM: Sunsuria Bhd is taking a significant step forward in advancing its environmental, social and governance commitments with the launch of Sunsuria Foundation – focused on driving meaningful contributions across three core pillars: education, community and environmental sustainability. 'Since founding Sunsuria Bhd in 1989, we have grown into a purpose-driven organisation committed to shaping a brighter, more sustainable future,' said Sunsuria Bhd founder and executive chairman Tan Sri Ter Leong Yap. 'The launch of the Sunsuria Foundation is a natural extension of this commitment to society.' To commemorate the launch, the foundation has announced a scholarship for students of Xiamen University Malaysia (XMUM), building on a long-standing partnership through which Sunsuria has contributed a cumulative total of RM12mil to date. Beyond financial support, Sunsuria has also invested significant time, effort and manpower to support the establishment and ongoing development of the university — a testament to its enduring commitment to education. 'We are deeply grateful to Sunsuria for their generous support and longstanding relationship with Xiamen University Malaysia,' said Xiamen University Malaysia president Prof Dr Wang Ruifang. 'Sunsuria's continued commitment has played a supportive role in our journey to nurture and empower the next generation of leaders.' Prior to the launch, Sunsuria had already begun building the foundation for its Education pillar through a range of community-focused initiatives. These include scholarships for students of Concord College International School, the distribution of school supplies to preschool children from SK Kota Warisan and support for educational initiatives at Kuen Cheng High School, Pin Hwa High School, Hin Hua High School and SM Tengku Ampuan Rahimah. Sunsuria has also supported education through book donations, health-related assistance, scholarship awards and career development opportunities for young talents. In addition, Sunsuria is contributing to the construction of SJK (C) Sunsuria in Sepang. Sunsuria has also extended support to local communities and environmental initiatives under its community focus area. To date, RM1.31mil has been contributed towards healthcare, children's homes, elderly care and disaster relief. These efforts include the donation of oxygen machines and face masks during the Covid-19 pandemic in response to critical shortages, as well as the community food drive, youth development sponsorships and contributions towards building funds. In support of environmental sustainability, Sunsuria has planted over 5,000 trees in Sunsuria City. The foundation reflects Sunsuria's commitment to meaningful, purpose-driven contributions across education, community wellbeing and environmental sustainability. It aims to broaden its impact and make a lasting positive contribution to society through focused, sustained efforts in these key areas.
