10 hours ago
Unique Fire eyes global expansion after Main Market transfer
KUALA LUMPUR: Fire protection solutions provider Unique Fire Holdings Bhd is gearing up for international expansion, driven by product innovation, certification efforts, and an increased local presence, following its recent transfer from the ACE Market to the Main Market of Bursa Malaysia.
At 9 am, the company debuted on the Main Market at 37.5 sen, unchanged from its closing price on the ACE Market, with 46,000 shares traded.
Its executive director Datuk Marcus Liew Kang Leong said the group is actively strengthening its portfolio through three major growth initiatives.
"Last year, we entered into a joint venture with a Chinese partner to manufacture fire sprinklers.
"We are currently undergoing the underwriters laboratories (UL) certification process, which takes about 12 months to 18 months,' he told a press conference held in conjunction with the company's listing transfer ceremony here today.
Once certified, Liew said the UL endorsement, one of the stringent global standards for fire safety equipment, will enable the company to export its products to key markets, including the Middle East, Europe, the United States (US), and other parts of the world.
Liew also addressed concerns regarding the US-imposed tariffs, noting that the company is currently not affected, as most of its revenue is still generated in Malaysia.
"We rarely export to the US at this point. Even if tariffs are introduced later, we expect them to apply equally to all exporters. Malaysia's tariff rate is in the mid-range,' he said.
Apart from that, Liew also said that the company has expanded to Penang and Johor Bahru.
"With this expansion, our sales have grown tremendously. The goal of these two expansions is not just to showcase our product capabilities, but to create greater convenience for our customers,' he added.
Unique Fire, a distributor of fire protection systems, equipment, and accessories, also manufactures and distributes custom graphics designed for fire extinguishers.
The company has since expanded its activities, and today, it is primarily involved in the assembly, manufacture, and distribution of active fire protection systems, equipment, and accessories for built environments, including fire suppression systems, fire extinguishers, fire hose reels, fire hoses, fire alarms, and detection devices.
Unique Fire, which debuted on the ACE Market in August 2022, has made strong strides in financial performance and operational growth. - Bernama
