CUCKOO Malaysia issues supplementary prospectus, posts record revenue in FYE2024 ahead of IPO
In its supplementary prospectus, CUCKOO Malaysia reported a record revenue of RM1.24 billion for the financial year ended Dec 31, 2024 (FYE2024), sustaining its RM1 billion-plus revenue track record, ahead of its scheduled listing on the Main Market of Bursa Malaysia on June 24, 2025.
KUALA LUMPUR (May 13): CUCKOO International (MAL) Berhad (CUCKOO Malaysia), a healthy home Creator, recently announced the issuance of its supplementary prospectus that highlights several amendments to the Principal Prospectus.
This follows the company's earlier announcement regarding the rescheduling of its initial public offering (IPO), a carefully considered and strategic decision made by CUCKOO Malaysia's management with the interests of the company and its investors in mind, in targeting a successful and sustainable entry into the public market.
In its supplementary prospectus, CUCKOO Malaysia reported a record revenue of RM1.24 billion for the financial year ended Dec 31, 2024 (FYE2024), sustaining its RM1 billion-plus revenue track record, ahead of its scheduled listing on the Main Market of Bursa Malaysia on June 24, 2025.
The 11 per cent revenue growth was driven by strong performances from CUCKOO Co-Created products, which surged 62.6 per cent to RM250.3 million, and CUCKOO-branded products, which rose three per cent to RM983.2 million.
The company also recorded a 23.2 per cent year-on-year increase in profit before tax (PBT), supported by higher gross profits and lower finance costs due to a decrease in net foreign exchange loss on outstanding foreign currency amounts, though partially offset by RM5.7 million in IPO-related expenses.
CUCKOO Malaysia non-independent executive director and chief executive officer Hoe Kian Choon expressed optimism in the company's trajectory, particularly following its cumulative profit after tax and minority interests (Patami) of RM128.9 million for the FYE2024, a 47.7 per cent increase from RM87.3 million recorded in financial year ended 2023.
Hoe Kian Choon
He anticipates positive and promising long-term prospects ahead, underpinned by CUCKOO Malaysia's strong consumer demand, a resilient rental business model, continued investment in technology and infrastructure, and an experienced key senior management team in place to strategically navigate current market landscape.
'We are pleased to deliver a strong financial performance, highlighting our ongoing commitments in expanding the company's market presence by leveraging CUCKOO Malaysia's effective business model, omni-channel distribution network and ever-expanding wellness ecosystem.
'We are committed to maintaining this momentum across all our business segments by increasing product SKUs and home care service offerings, while strengthening our distribution channel across Malaysia and Singapore.
'With this, we are confident that it will support our continued growth and enable us to serve a larger customer base by building brand loyalty to retain our customers, and to cross-sell more of our products or services to them,' Hoe elaborated.
Additionally, the supplementary prospectus also provides information on the closing date for withdrawals, which is at 5pm, May 22, 2025, and specific details of the investor subscription withdrawal process, including period and methods, which will be opened by the company for investors who have submitted prior to the announcement of the IPO rescheduling but wish to withdraw their applications for the IPO.
The Investors may withdraw their applications through Malaysian Issuing House, bank branches, or online platforms where they have previously applied, with refunds processed either on the same day or within eight market days from the issuing house's receipt of the completed and valid withdrawal request form, depending on the method.
Applicants withdrawing via form submission must complete the withdrawal request form, available from the issuing house or attached together with the supplementary prospectus, and submit it through one of the following methods: via the Issuing House's website (www.mih.com.my), email ([email protected]), or by post to Malaysian Issuing House Sdn Bhd or delivery by hand and deposit in the drop-in boxes provided at the front portion of Menara Symphony.
The investors who choose to withdraw their applications will be allowed to reapply within the subscription period, subject to the terms and conditions set out in the supplementary prospectus. The IPO application remains open and will close on June 5, 2025 with the listing on the Main Market of Bursa Malaysia planned on June 24, 2025.
The supplementary prospectus is available on Bursa Malaysia's website at https://www.bursamalaysia.com/ and CUCKOO Malaysia's website at www.CUCKOO.com.my/Investor-Relations. CUCKOO Malaysia IPO supplementary prospectus
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