MSB Global drops 15% on ACE Market debut
MSB Global Group Bhd saw its shares fall 15% on its ACE Market debut on April 15, closing at 17 sen, down from its IPO price of 20 sen per share.
The share price opened at 17 sen, fluctuated between 16.5 sen and 18 sen, and settled at 17 sen, with 63.85 million shares changing hands.
Despite the dip, the FTSE Bursa Malaysia KLCI (FBM KLCI) ended the day 0.38% higher.
Investor interest during the IPO was relatively weak, with retail applications oversubscribed by only six times the available shares.
The offering raised RM41.4 million for the company.
'Our debut on the ACE Market represents more than just a financial milestone, it's a strategic leap forward for our growth.
'With the capital raised, we will enhance our production infrastructure, broaden our product offerings and continue driving innovation in both the aftermarket automotive and emerging electric vehicle (EV) segment.
'We are grateful for the trust of our investors and the dedication of our team,' MSB Global's MD Datuk Ow Kee Foo said in a statement.
The company plans to allocate 22.58% of the proceeds to purchase new machinery, 18.7% for the construction of a new factory and warehouse, and 3.14% for developing an in-house EV charger.
The remainder will go towards repaying bank borrowings, working capital and listing expenses.
MSB Global expects strong growth in Malaysia's aftermarket automotive industry, driven by an increasing vehicle population and rising demand for high-performance automotive parts and lubricants.
With its well-established distribution network, the company aims to capitalise on the growing automotive lubricants and fluids market.
M&A Securities acted as the principal advisor, sponsor and placement agent for the IPO. — TMR
This article first appeared in The Malaysian Reserve weekly print edition
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
18 hours ago
- Barnama
FBM KLCI Futures Expected To Trade Higher Next Week
By Durratul Ain Ahmad Fuad KUALA LUMPUR, Aug 16 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives is likely to trade higher next week, according to an analyst. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said next week, investors' attention will be on a series of key economic releases, including the Eurozone's July consumer price index (CPI), the United States (US) jobless claims, the release of the Federal Open Market Committee meeting minutes, and the People's Bank of China's loan prime rate decision. He noted that domestically, the FBM KLCI pulled back after hitting an intraday high of 1,595.31 on Thursday. However, the medium-term bullish outlook remains intact following a breakout above the key 1,565 resistance earlier this week. 'Both exponential moving averages (EMAs) are trending higher, signalling improving market breadth and sustained buying interest,' he told Bernama. He noted that a sustained move above 1,580 could pave the way toward 1,600, while support at 1,565 and 1,550 will be key to maintaining the current bullish trend. 'As such, we expect the benchmark index to trade within the 1,565-1,580 range next week,' he added. On a weekly basis, the spot-month August 2025 and September 2025 gained 21.0 points to 1,577.0 and 1,556.0, respectively, December 2025 rose 20.5 points to 1,555.5, and March 2026 went up 19.5 points to 1,540.0. Turnover for the week advanced to 39,969 lots from 27,952 lots a week ago, while open interest improved to 44,964 contracts from 42,137 contracts previously.
The Star
a day ago
- The Star
Bursa Malaysia takes a breather despite positive market sentiment
KUALA LUMPUR: Bursa Malaysia took a breather on Friday, mirroring the subdued performance of regional markets, despite positive sentiment following the release of Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.71 points, or 0.30 per cent, to close at 1,576.34 from yesterday's close of 1,581.05. The benchmark index opened 0.70 of-a-point firmer at 1,581.75, and moved between 1,571.19 and 1,581.79 throughout the day. The broader market was negative, with decliners leading advancers 488 to 449, while 497 counters were unchanged, 1,138 untraded and seven suspended. Turnover declined to 2.01 billion units worth RM2.03 billion from 2.40 billion units worth RM2.66 billion yesterday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market sentiment was steady following the release of Malaysia's 2Q 2025 GDP data, which expanded 4.4 per cent year-on-year, aligning with the company's forecast range of 4.30 to 4.50 per cent and only marginally below the advance estimate of 4.5 per cent. "The outcome defied earlier expectations that April's reciprocal tariffs, announced by United States (US) President Donald Trump, coupled with prolonged US trade policy uncertainty, would prompt a more pronounced slowdown as businesses adopted a wait-and-see stance. "With policy direction from Washington now clearer, we believe the worst of the trade-related drag has passed, allowing growth to remain supported in the near term,' he told Bernama. In today's session, banking stocks led gains among the FBM KLCI constituents. "The sector is often viewed as a proxy for economic momentum, and with GDP data broadly meeting market expectations, investors rotated into financials on the belief that a resilient macro backdrop will support sustained credit demand and earnings visibility. "This sectoral strength helped offset weakness in selected commodity-linked and export-oriented counters, which remain sensitive to shifts in global trade sentiment,' he added. Externally, Mohd Sedek noted that immediate market attention is shifting to Trump's meeting with Russian President Vladimir Putin in Alaska later today, coinciding with the release of US retail sales data. "While headline risk from the geopolitical front may generate intraday volatility in late US trading, market beta is more likely to respond decisively at Monday's opening,' he said. Among the heavyweights, CIMB added 5.0 sen to RM7.25, Maybank eased 4.0 sen to RM9.80, Tenaga Nasional went down 6.0 sen to RM13.62, IHH Healthcare declined 8.0 sen to RM6.82, while Public Bank was flat at RM4.45. Of the most active counters, Tanco perked up 1.0 sen to 73 sen, Oxford Innotech went up 3.5 sen to 44.5 sen, Zetrix AI inched down half-a-sen to 89.5 sen, Bina Puri was 1.5 sen lower at 35 sen, and TWL was flat at 2.5 sen. Across the broader market, the FBM Emas Index fell 29.86 points to 11,731.06, the FBMT 100 Index slipped 30.86 points to 11,512.86, the FBM Emas Shariah Index slumped 53.60 points to 11,654.85, the FBM 70 Index sank 29.25 points to 16,660.68, while the FBM ACE Index jumped 46.91 points to 4,713.45. By sector, the Financial Services Index increased 29.54 points to 18,080.07, the Plantation Index slipped 77.62 points to 7,504.03, the Industrial Products and Services Index eased 1.22 points to 157.72, while the Energy Index perked up 1.34 points to 740.83. The Main Market volume declined to 1.17 billion units valued at RM1.82 billion from Thursday's 1.33 billion units valued at RM2.42 billion. Warrants turnover dwindled to 474.97 million units worth RM66.97 million from 683.46 million units worth RM100.19 million previously. The ACE Market volume decreased to 359.0 million units worth RM135.16 million from 391.12 million units worth RM142.13 million yesterday. Consumer products and services counters accounted for 217.46 million shares traded on the Main Market; industrial products and services (143.74 million), construction (102.71 million), technology (138.34 million), financial services (63.09 million), property (185.03 million), plantation (25.07 million), REITs (37.19 million), closed-end fund (1,100), energy (85.52 million), healthcare (77.37 million), telecommunications and media (25.44 million), transportation and logistics (38.10 million), utilities (32.27 million), and business trusts (3,500). - Bernama
New Straits Times
a day ago
- New Straits Times
Bursa Malaysia takes a breather despite positive market sentiment
KUALA LUMPUR: Bursa Malaysia took a breather on Friday, mirroring the subdued performance of regional markets, despite positive sentiment following the release of Malaysia's second-quarter 2025 (2Q 2025) gross domestic product (GDP) data. At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 4.71 points, or 0.30 per cent, to close at 1,576.34 from yesterday's close of 1,581.05. The benchmark index opened 0.70 of-a-point firmer at 1,581.75, and moved between 1,571.19 and 1,581.79 throughout the day. The broader market was negative, with decliners leading advancers 488 to 449, while 497 counters were unchanged, 1,138 untraded and seven suspended. Turnover declined to 2.01 billion units worth RM2.03 billion from 2.40 billion units worth RM2.66 billion yesterday. UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Mohd Sedek Jantan said market sentiment was steady following the release of Malaysia's 2Q 2025 GDP data, which expanded 4.4 per cent year-on-year, aligning with the company's forecast range of 4.30 to 4.50 per cent and only marginally below the advance estimate of 4.5 per cent. "The outcome defied earlier expectations that April's reciprocal tariffs, announced by United States (US) President Donald Trump, coupled with prolonged US trade policy uncertainty, would prompt a more pronounced slowdown as businesses adopted a wait-and-see stance. "With policy direction from Washington now clearer, we believe the worst of the trade-related drag has passed, allowing growth to remain supported in the near term," he told Bernama. In today's session, banking stocks led gains among the FBM KLCI constituents. "The sector is often viewed as a proxy for economic momentum, and with GDP data broadly meeting market expectations, investors rotated into financials on the belief that a resilient macro backdrop will support sustained credit demand and earnings visibility. "This sectoral strength helped offset weakness in selected commodity-linked and export-oriented counters, which remain sensitive to shifts in global trade sentiment," he added. Externally, Mohd Sedek noted that immediate market attention is shifting to Trump's meeting with Russian President Vladimir Putin in Alaska later today, coinciding with the release of US retail sales data. "While headline risk from the geopolitical front may generate intraday volatility in late US trading, market beta is more likely to respond decisively at Monday's opening," he said. Among the heavyweights, CIMB added 5.0 sen to RM7.25, Maybank eased 4.0 sen to RM9.80, Tenaga Nasional went down 6.0 sen to RM13.62, IHH Healthcare declined 8.0 sen to RM6.82, while Public Bank was flat at RM4.45. Of the most active counters, Tanco perked up 1.0 sen to 73 sen, Oxford Innotech went up 3.5 sen to 44.5 sen, Zetrix AI inched down half-a-sen to 89.5 sen, Bina Puri was 1.5 sen lower at 35 sen, and TWL was flat at 2.5 sen.
