Unique Fire transfers to Main Market after strong growth since 2022 listing
KUALA LUMPUR (June 26): Unique Fire Holdings Berhad has made its debut on the Main Market of Bursa Malaysia Securities Berhad, just three years after being listed on the ACE Market.
The company, a leading provider of fire protection systems and safety equipment, was first listed on the ACE Market in August 2022.
Since then, it has recorded significant growth in both operations and financial performance, according to the company in a statement yesterday.
Executive director Datuk Marcus Liew noted that the company's revenue rose from RM75.74 million in the financial year ended 2022 to RM104.68 million in 2024. Profit after tax also increased from RM5.64 million to RM8.13 million over the same period.
'We've expanded our production capacity by more than 200 per cent, increased storage space by nearly 68 per cent, and integrated a Warehouse Management System.
'Geographically, we've opened two new offices in Johor Bahru and Penang to enhance the Company's market presence in both the northern and southern region.
'Sustainability remains key, with rooftop solar PV reducing utility costs, while our workforce and product range continue to grow. These milestones reflect our readiness for the Main Market,' he said.
Liew described the transfer as a new chapter for the company and that the company will continue expanding its product range to meet evolving market needs.
'We are excited for what lies ahead. With years of experience in the industry, we are confident in our ability to build a solid foundation that supports continued growth,' he added.
Unique Fire began as a distributor of fire protection systems and accessories, and has since expanded into the assembly, manufacture and distribution of active fire protection systems.
Its product range includes fire suppression systems, extinguishers, hose reels, hoses, alarms, detection devices and custom-designed extinguishers. ace market corporate news Unique Fire Holdings Berhad
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 days ago
- The Star
Golden Destinations Group eyes ACE Market listing
PETALING JAYA: Golden Destinations Group Bhd is eyeing a listing on the ACE Market of Bursa Malaysia. The company is principally involved as a full-service outbound travel experience curator, offering a comprehensive suite of outbound travel experience products and services under Golden Destinations, its flagship brand portfolio. In its prospectus exposure, Golden Destinations said its initial public offering (IPO) would comprise a public issue of 200 million new ordinary shares. Of this, 50 million shares will be available for application by the Malaysian public; 35 million shares will be available for application by eligible directors, employees and persons who have contributed to the success of the company and its subsidiaries; while 90 million shares will be available by way of private placement to identified institutional and/or selected investors. Additionally, 25 million shares will be available by way of private placement to identified Bumiputera investors approved by the Ministry of Investment, Trade And Industry, Malaysia. UOB Kay Hian (M) Sdn Bhd is the sponsor for the IPO.
New Straits Times
4 days ago
- New Straits Times
Gold price may spike due to US tariffs
KUALA LUMPUR: Gold prices could spike one to three per cent in the near term after the United States slaps tariffs on imports of one-kilogramme gold bars, experts said. The move may also prompt buyers in the US to pay an extra US$5-US$20 per ounce on top of the spot price for the physical metal, they added. The United States (US) on Friday slapped tariffs on imports of one-kilogramme gold bars, a move that threatens to upend the global bullion market and deliver a fresh blow to Switzerland, the world's largest refining hub. Analysts reportedly said the decision could push US buyers to seek supply from non-Swiss refiners, potentially driving gold prices higher. Gold futures vaulted to a fresh all-time high of US$3,534.10 an ounce after news of the tariff broke, while spot prices held near US$3,394, heading for a second straight weekly gain. UCSI University Malaysia associate professor in finance and research fellow at the Centre for Market Education Dr Liew Chee Yoong said the US move represents a significant potential disruption to established global bullion supply chains. The policy shift could cause short-term physical supply bottlenecks for US buyers, Liew told Business Times. "Switzerland processes about 70 per cent of the world's gold. Alternative refining centres in Turkey, the UAE or India lack the spare capacity to seamlessly fill the gap. "This could push US physical premiums up by US$5 to US$20 per ounce as supply chains adjust," he added. However, Liew noted that the total global gold supply remains unchanged, with gold originally bound for the US likely to be redirected to other markets, particularly in Asia, before potentially re-entering the US at higher cost and complexity. He said gold remains a deeply liquid, globally traded commodity, and the derivative markets including futures contracts and exchange-traded funds play a dominant role in setting the benchmark spot price. "The tariffs primarily introduce a US-specific cost layer rather than constituting a genuine global supply shock. Nevertheless, near-term price volatility is a distinct possibility. "In the short term, we could see a one to three per cent spike in global prices due to speculative buying. "Over the longer term, persistent tariffs could erode Swiss refining dominance, benefiting non-Swiss refiners and prompting central banks to source gold directly, bypassing traditional Western trading hubs," he said. SPI Asset Management managing director Stephen Innes views the move as "a structural tremor, not just a knee-jerk spike". He added: "Tariffs on Swiss-refined gold were not in anyone's playbook. Gold, traditionally viewed as apolitical and tariff-proof, just got pulled into the battleground. "That is a big line to cross. Traders are scrambling to reprice not just flows, but jurisdictional risk." Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the tariffs come amid an already bullish outlook for gold in the second quarter. Mohd Afzanizam said the US tariff policy is expected to have a detrimental impact on their economy as prices rise. "Coupled with the US$4.5 trillion tax cut measures funded partly by Medicaid spending cuts and reduced clean energy subsidies, this could affect the US government's credit profile," he said. Mohd Afzanizam noted that the US is already no longer a AAA-rated country after Moody's downgraded it to Aa1 in May. "I suppose this can have a material impact on the US dollar status as the safe haven and clearly, gold seems like a natural substitution. We foresee gold prices could climb in the second half of 2025, possibly around US$3,500 per ounce," he added.
Barnama
6 days ago
- Barnama
ASEAN Must Reframe Economic Strategy Amid Global Polycrisis
BUSINESS KUALA LUMPUR, Aug 8 (Bernama) -- The Association of Southeast Asian Nations (ASEAN) needs to undertake a bold re-framing of its economic strategy as the region navigates a complex polycrisis, said Deputy Investment, Trade and Industry Minister Liew Chin Tong. He said the region is no stranger to a changing world order, and it has to create a middle class to turn ASEAN into a consumer base, and not just a production base. "To have a strong middle class in ASEAN means that the world will have more than the current three large consumer markets: namely, the United States (US), Europe, and China. 'This in turn would enhance ASEAN's leverage over other regions," he said in his keynote address at the Commemoration of the 58th ASEAN Day and the Seventh (7th) ASEAN Economic Integration Forum here today. Citing historical context, Liew said ASEAN was formed to solidify the newfound peace between Malaysia and Indonesia and to avoid wars among member states in times of chaos. "ASEAN knew very well in 1967, just as it knows now, that only in a peaceful region will member nations grow richer. "To maintain peace, ASEAN does not need the 'security umbrella' of any superpowers, but to build peace and prosperity among ASEAN member states," said the deputy minister. Since the end of the Cold War and as the multiple conflicts in Indochina drew to a close in the 1990s, he said ASEAN has grown by leaps and bounds economically, but the region has pursued an export-led industrialisation strategy that presupposed the US as the final destination for exports.
